ANDIKA BULLETin 23 APR 2024

The "calm before the storm" of earnings and big macro this week (and no WW3 over the last weekend) was all the algos needed to ramp stocks during the US cash session after being reminded that the buyback-blackout period is almost over...

US Stocks had fallen from up around 0.6% at the cash open to unchanged by the European close... and then the algos all remembered, buybacks are coming back soon to save the world and stocks went vertical... together... with everything up 1.5% at the highs before the 1430ET margin-calls and the squeeze ammo ran out, leaving stocks fading into the close (but still a solid green day after some recent pain).

US 2y still sticky at 5% yield while the only big mover overnight was Gold which got clubbed like a baby seal - after rising for 13 of the last 17 days, overnight saw its biggest daily loss since June 2022. But that drop only pulled it back to one-week lows...

Happy Tuesday!

This information contains unsolicited general information only, without regard to any individual’s investment objectives, financial situation or needs. It is not specific advice for any particular investor or trader. Investment in the stock market involves risk.

This information may not take into account your investment objectives or financial situation, and you should obtain advice based on your own individual circumstances before making an investment decision.

This information is made available to you by ANDIKA Pty Ltd ABN 41 117 403 326, a licensed securities and derivatives dealer (AFSL # 297069).