Markets are in a free fall yet again as we come into another important week in the markets. The Fed starts a 2-day meeting tomorrow, with a decision due Wednesdat at 2pm ET, and press conference to follow at 2:30pm ET. Analysts are split almost 50/50 on whether they will indicate that they will begin raising rates in March.

We also get a slew of tech earnings beginning this week, with MSFT Tuesday, TSLA & INTC Wednesday, and AAPL Thursday. We also get many other important companies reporting including GE, RTX, MMM, JNJ, AXP, V, BA, T, XLNX, LUV, JBLU, SHW, MCD, HOOD, CVX, and CAT among many others.

The 10 year yield sits at about 1.72% right now as investors sell stocks and seek the safe haven of fixed assets. It looked like we were on our way to 2% yields on the 10 year early last Wednesday, but how quickly things can change in this market. MSFT is down almost 5% right now. AAPL is down almost 4% right now. Today could get pretty ugly. The QQQ is down 17.5% from its highs, and is only about another 10% from trading all the way back to September of 2020 prices. The SPY is currently down about 12% from its highs.

With the VIX hitting a high of $37.95 today, which is the highest level since October of 2020 when we didn't even have any vaccine data, we may be nearing the area where the market could find some kind of a bounce as fear and premiums are at levels that previously have formed a top in the VIX.

We finally have valuations reaching levels that have started to become attractive again on many equities, but it is not easy to step in front of this carnage to the downside. Stay tuned for updates as we approach the Fed meeting Wednesday!

Disney traded lower last week as NFLX missed on subscriber adds in a big way sending all streamers lower. Disney is almost back to he .618 of the entire move higher from the Covid lows. Disney already got punished for their own subscriber miss the week of November 8th and they have been trading lower on lighter volume ever since. Disney announces earnings February 9th.

Uber is also right back to the .618 of the entire move higher. As we overcome the recent Omicron variant, we are about to enter the endemic stage of this pandemic where we will learn to adapt and live with Covid, and I imagine travel stocks and reopening stocks may be set up for a rotation sometime soon. Uber announces earnings February 9th.

WMT is only down about 4.4% to start the year so it has held up relatively well considering the carnage across the board. WMT is right back to its trend line. WMT is out with their earnings February 17th. WMT has a 1.58% dividend.

MCD has traded lower and is quickly back within its channel line. McDonald's has earnings this Thursday. MCD has a 2.21% dividend. MCD has earnings pre-market on Thursday.

CRM has been a disaster of a pull-back and there's no other way to put it as grwoth stocks have been crushed. Look for CRM to find a bid between $220 and $200. We got into this equity at about $215. Keep your stop in place at $193.64.

Long half position in WMT at $140.91. WMT is trading at $137.91. Stop is $125.31.

We are effectively long CRM at $215.35. CRM is trading at $208.57. Stop is $193.64.

Long half position in DIS at $118.63. Disney is trading at $129.64. Stop is $98.45.

Long half position in UBER at $31.50. Uber is trading at $33.71. Stop is $26.24.

Long half position in MCD at $216.91. MCD is trading at $249.49. Stop is $189.50.