Major indices rallied today, thanks to the flood of optimistic earnings reports. When earnings come out after the bell, we can look to see indices already up for the day by the time we trade in the morning. This can help us find some great pullbacks as the day carries on. This is one of the simpler ways to play earnings movements.
After a volatile session, my signals are pointing towards the potential for more downside in the markets. Until things change, here’s the game plan.
Today’s moves in gold, miners, copper, and energy were some of the most dramatic month-end profit-taking moves we have seen this year. However, are these moves done, or is this simply a pullback until the next move higher?
The perfect storm happened today. Bonds testing lows, while indexes had overbought MACD’s with prices at resistance.