$DIA, $SPY, $QQQ, $RUTX, $VXX,
Again, the US stock market was primed to rebound, it rebounded, and there is plenty of money still on Wall Street’s sidelines.
Earnings season kicks off in earnest Monday, will pay close attention to the data as it flows in hourly.
Last week Wall Street focused on better to good news, while it ignored the not so good to bad news.
It will not have do that now with earnings season here now
Citi gets things going Monday, JPM and WFC Tuesday, and NFLX helps get NASDAQ earnings going Thursday.
Stocks have seen a good move up into results, the best since September.
Q-4 S&P 500 earnings forecasts predominantly fall in a range from 11% to 16% growth, pretty strong, but there is also room for Northside surprises delivering Northside stock moves.
There are several issues coming this week and the weeks ahead.
A move to resistance has good setups to the Southside as well as to the Northside.
Current positions will continue to work, taking some gains on the way up. If they continue to work, we let them.
If the market continuing to the Northside, we will enter more positions on the stocks with the good patterns set up.
Remember, pay attention and always take what the market gives.
The Bulls Vs The Bears
VIX: 18.19; -1.31
VXN: 24.78; -1.13
VXO: 19.45; -1.69
Put/Call Ratio (PCR) CBOE: 1.08; -0.05
The Bulls Vs The Bears
The Bulls rebounded. The Bears fell. Still they crossed over, often a very good indication sentiment was extreme to the negative and sets up a move North. We are seeing a move and now the indices are near the next Key resistances: DJIA at 24,397, S&P 500 at 2,634 and QQQ at 169.82
The Bulls are at: 34.8 Vs 29.9 last
The Bears are at: 29.4 Vs 34.6 last
Support and Resistance
HeffX-LTN’s overall technical support and resistance indicators for the major US stock market indexes are Neutral at: DJIA at 24,397, S&P 500 at 2,634 and QQQ at 169.82
Have a terrific week.
DIA, SPY, QQQ, RUTX, VXX, C, JPM, MS, GS, NFLX, earnings, bulls, bears, support, resistance, Wall, Street, results, estimates, money,
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