Target Stock ($TGT) Brings Market Down | Midday Market Minute | 5.18.22

Posted: May 18, 2022, 2:04 p.m.

Click Subscribe!! We Appreciate Our Followers!!

The S&P is down sharply today, brought on by Target missing EPS by about 50% of what was expected. Higher costs are taking their toll on consumers, and that is being seen in the largest company's earnings. From a technical perspective, all of the support levels have been chewed through, with 3927 being the line in the sand for the S&P (Close from last Thursday).

Check Out Our Daily Morning Express Research For Support & Resistance Levels!

The EIA Crude Oil Inventory report for all intents and purposes was bullish. Crude Oil had a draw and refinery utilization picked up. This means they are drawing crude to make product! The sell-off in the outside markets seem to be bringing Crude Oil with it.

Gold came off of the overnight lows, above $1800.

Treasuries are healthily responding higher, with 10 yr yields are down near 2.90%.

Sign up for a 14-day, no-obligation free trial of our proprietary research with actionable ideas!
Free Trial Start Trading with Blue Line Futures Subscribe to our YouTube Channel
Email [email protected] or call 312-278-0500 with any questions -- our trade desk is here to help with anything on the board!

Futures trading involves substantial risk of loss and may not be suitable for all investors. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

Blue Line Futures is a member of NFA and is subject to NFA’s regulatory oversight and examinations. However, you should be aware that the NFA does not have regulatory oversight authority over underlying or spot virtual currency products or transactions or virtual currency exchanges, custodians or markets. Therefore, carefully consider whether such trading is suitable for you considering your financial condition.

With Cyber-attacks on the rise, attacking firms in the healthcare, financial, energy and other state and global sectors, Blue Line Futures wants you to be safe! Blue Line Futures will never contact you via a third party application. Blue Line Futures employees use only firm authorized email addresses and phone numbers. If you are contacted by any person and want to confirm identity please reach out to us at [email protected] or call us at 312- 278-0500

Like this post? Share it below:

Back to Insights