It's Accumulation Time!

Issue #15

February 13, 2023

Hi There! We made it through the Rhoda Report's very first Superbowl and let me tell you, RiRi did not disappoint! Big ups to all my Caribbean people! And of course congrats to the Chiefs!

Alright, let's dig in!

Last week, Fed Chair Jerome Powell declared that he believes inflation will "significantly decline" in 2023, and reach a target of 2% by 2024. His words sparked a wave of choppiness in the markets, leaving investors without a clear direction at close last Friday. However, the Technicals are providing a glimmer of green as the week begins. Will there be enough volume to push the Dollar upwards to the 104.00 - 105.00 sweet spot? Will we see SPX/ES break out of that perfect bull flag structure and shoot past 4200? Volume, sentiment, and timing will tell!

Other key highlights from last week:

  • Key Takeaways from Biden's State of the Union address

  • Bed Bath & Beyond Stock rallies 115% during last Monday's session

  • Oil settles up as interest rate concerns ease

  • NFT sales soar again hitting an 18.43% rise

  • Bollywood NFTs are coming to Polygon with Shemaroo's Web3 debut

We have another big week ahead:

Love is in the air!

Valentine's Day is heating up with some high-impact news! The U.S. is set to release the highly-anticipated CPI report, while the U.K. will reveal its unemployment rate and inflation data. Japan's Government is making waves as they nominate a new BoJ Governor to replace Haruhiko Kuroda, and the Euro Area is set to unveil its revised GDP data. Don't miss out on the action!

Investors will also be keeping close eyes on the U.S. Retail Sales, PPI, Housing data, and the weekly report on Initial Jobless Claims. Notable earnings include The Coca-Cola Company (NYSE: KO), Barrick Gold Corporation (NYSE: GOLD), The Kraft-Heinz Company (NASDAQ: KHC), Krispy Kreme, Inc. (NASDAQ: DNUT), Biogen, Inc. (NASDAQ: BIIB), and Deere & Company (NYSE: DE).

Next week's anticipated bias (not financial or investment advice):

  • Monday (02/13/23) - Bullish

  • Tuesday (02/14/23) - CPI numbers create volatility; Trade with caution

  • Wednesday (02/15/23) - Whipsaw; Take Profits

  • Thursday (02/16/23) - Trade the trend

  • Friday (02/17/23) - Bearish

Trading Tip: Trade level to level!

February Week 02/05/23 - February 02/11/23 Recap

5 takeaways from Biden's State of the Union and Republican response

President Joe Biden delivered his second State of the Union address Tuesday, balancing a push for bipartisanship in a divided Washington and advocacy for his policies.

https://www.msn.com/en-us/news/politics/5-takeaways-from-biden-s-state-of-the-union-and-republican-response/ar-AA17exID?cvid=cd0ce7793c024313b0138a09dbc3afba&ocid=winp2fptaskbarhover

Bed Bath & Beyond stock sinks 45% on plans to raise $1B

Bed Bath & Beyond's (BBBY) stock sank more than 45% on Tuesday, a day after the embattled retailer announced an equity offering to raise as much as $1.025 billion.

https://money.yahoo.com/bed-bath--beyond-stock-sinks-48-on-plans-to-raise-1b-185605524.html

Oil settles up for third day as interest rate concerns ease

Oil rose for a third straight day on Wednesday as investors felt more comfortable with risk a day after the Federal Reserve chair's remarks eased concerns about future interest rate hikes.

https://www.reuters.com/markets/commodities/oil-climbs-3rd-day-subdued-dollar-us-crude-stocks-drop-2023-02-08/

NFT Sales Soar Again! 18.43% Rise This Week

NFT sales recover from the 2022 bear market lows, treading upwards as crypto prices remain stable across the board.

https://nftevening.com/nft-sales-soar-again-rise-18-43-this-week/

Shemaroo makes Web3 debut on Polygon to release Bollywood NFTs

Shemaroo, the leading media and entertainment company, is collaborating with Polygon Labs to launch the NFT marketplace, Virtasy.io, exclusively on the network.

https://www.cryptonewsz.com/shemaroo-makes-web3-debut-on-polygon-to-release-bollywood-nfts/

Special Tools & Strategy for the Week

Candlesticks are the language of the financial markets!

Mastering the art of reading candlesticks (particularly Japanese candlesticks) can give you an invaluable edge as a trader. Furthermore, understanding the patterns that candlesticks form is an integral part of technical analysis. These patterns develop because human actions and reactions are patterned and constantly repeated.

The following scale shows common candlestick patterns to expect in bullish and bearish markets.

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Disclaimer: This newsletter is strictly educational. The information provided in this report does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the report’s content as such. Please be careful and do your own research.