$DIA, $SPY, $QQQ, $RUTX, $C, $GS, $JPM, $MS
FLASH: So far over 75% of the S&P 500 have reported earnings, and Wall Street traders and investors are seen buying out of favor stock with patterns that are setting up to breakout.
Notes: I like the Financials, as they will lead the next leg of this Bull market North: Banks continued consolidating the breaks North. And some started North Friday such as JPM and C. MA and V are testing after their good runs. MS is holding its gains. GS looks as if it might try a break over the 200-Day SMA.
Now, with the indices bumping up against resistance we look for extremes in trading action.
The big econ news will be the PPI and CPI, and any Fed-speak where governors will try to mitigate Chairman Powell’s PC comments.
As the market dips, Wall Street traders and investors will buy again.
I am looking at more to the Northside, as there are lots of good setups, and if NAS Comp leads S&P 500 on a breakout to higher highs there will be good entries off these setups.
Pay attention and always take what the market gives.
The Bulls Vs The Bears
VIX: 12.87; -1.55
VXN: 15.98; -1.64
VXO: 12.65; -1.51
Put/Call Ratio (PCR) CBOE: 0.77; -0.16
The Bulls Vs The Bears: Bulls rising, Bears falling ting that the market turned to a more positive POV.
Indicator level: Green
The Bulls are at: 56.4 Vs 53.4 last
The Bears are at: 17.8 Vs 18.4 lasst
Support and Resistance
HeffX-LTN’s overall technical outlook for the major US stock market from the support and resistance perspective is Bullish to Very Bullish in here.
Have a terrific week.