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On May 16th, Bridgewater Associates, the worlds largest hedge fund, released its Q1 2023 13F report on its US stock holdings as of the end of March. The report shows that Bridgewater established new positions in 214 stocks, increased its holdings in 292 stocks, liquidated 261 stocks, and reduced its holdings in 487 stocks during the first quarter. Bridgewater significantly increased its holdings in chip stocks such as Nvidia (NVDA.O), Broadcom (AVGO.O), and Micron Technology (MU.O) during the first quarter, while liquidating its holdings in enterprise software stocks such as Salesforce (CRM.N) and ServiceNow (NOW.N), and reducing its holdings in Adobe (ADBE.O). As of the end of Q1, Bridgewaters US stock holdings were valued at $22.4 billion, compared to $27.4 billion in the previous quarter. Specifically, Bridgewater increased its holdings in Nvidia by 827,800 shares, raising its stake from 2.63% at the end of last year to 3.65%; it increased its holdings in Broadcom by 670,000 shares, raising its stake from 1.47% to 2.54%; and it increased its holdings in Micron Technology by 586,000 shares, raising its stake from 0.93% to 2.23%. In addition, Bridgewater initiated its first position in TSMC with 1.077 million shares, which accounted for 1.62% of its portfolio as of the end of the first quarter.On May 16, US President Trump posted on social media that the US military and the Nigerian armed forces carried out a joint operation that evening to "eliminate" Abu Bilal Minuki, the number two leader of the extremist group "Islamic State".US President Trump: Abu-Bilal al-Minuki, the second-in-command of the Islamic State extremist group, has been eliminated. The operation was carried out jointly by the US military and the Nigerian armed forces.According to the official measurement of the China Earthquake Networks Center, a magnitude 2.3 earthquake occurred at 11:12 on May 16 in Weichang County, Chengde City, Hebei Province (42.40 degrees north latitude, 117.37 degrees east longitude), with a focal depth of 10 kilometers.Market news: SpaceX shareholders approve 5-for-1 stock split.

European Open DAX Rallies From Key Support European CPI Up Next

Cameron Murphy

Apr 22, 2022 10:21

Asian Indices:

  • Australia's ASX 200 index rose by 31.8 points (0.42%) and currently trades at 7,601.00

  • Japan's Nikkei 225 index has risen by 249.59 points (0.71%) and currently trades at 35,160.79

  • Hong Kong's Hang Seng index has fallen by -224.07 points (-1.07%) and currently trades at 20,720.60

  • China's A50 Index has risen by 2.55 points (0.02%) and currently trades at 13,555.26

UK and Europe:

  • UK's FTSE 100 futures are currently up 27.5 points (0.36%), the cash market is currently estimated to open at 7,656.72

  • Euro STOXX 50 futures are currently up 16 points (0.42%), the cash market is currently estimated to open at 3,912.81

  • Germany's DAX futures are currently up 69 points (0.48%), the cash market is currently estimated to open at 14,431.03

US Futures:

  • DJI futures are currently up 153 points (0.44%)

  • S&P 500 futures are currently up 119.25 points (0.85%)

  • Nasdaq 100 futures are currently up 25.75 points (0.58%)

 


Asian shares were generally higher overnight, tracking Wall Street enthusiasm. The session's leader was the tech-sensitive Nikkei, while the ASX 200 has so far rejected our forecast for a mean reversion.


Instead, it has attempted to reclaim its previous high. A closing above 7600 would be positive, but a break of yesterday's low confirms the bearish reversal (bearish pinbar) and might cause some mean reversion. A break above 7633 will take it to a new all-time high, indicating that the trend will continue.

The DAX Index Is Turning Upward In The Direction of Support

Yesterday, we expected the DAX to break over 14,200 resistance to mark the start of its second run higher, and it did it in style, hitting our first objective of 14,360. Furthermore, by beginning at the session low and ending at the day's high, it was a confident breakout. However, yesterday's chart was an intraday chart; however, we can now zoom out to the daily chart and see the wider picture.

 

On the daily chart, we can see that the retracement from the 14,935 high found support near the monthly pivot point and the Fibonacci ratio of 38.2 percent. Prices stabilized before to the breakout, but each candle was bullish, indicating that demand was there, and prices have finally broken higher from a corrective channel. Although yesterday's low might be utilized to fine-tune risk management, our bias remains positive above 13,885. The first targets are 14,600, 14,800, and finally the highs just below 15,000 dollars.

FTSE: Market Internals

FTSE 350: 4268.5 (0.40%), 21 April 2022

  • 6 stocks rose to a new 52-week high, 4 fell to new lows

  • 231 (68.14%) stocks advanced, 108 (31.86%) stocks declined

Outperformers:

  • +7.03% - Darktrace PLC (DARK.L)

  • +7.02% - Jtc PLC (JTC.L)

  • +5.88% - CRH PLC (CRH.L)

Underperformers:

  • -5.38% - Ocado Group PLC (OCDO.L)

  • -5.47% - Centamin PLC (CEY.L)

  • -14.71% - Oxford BioMedica PLC (OXB.L)


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