NQ, Timing and the Put Call Ratio… What Are They Saying?
Well, they aren’t saying to buy the latest SPAC.
Well, they aren’t saying to buy the latest SPAC.
While the overbought rollover scenario in the indices could still happen, there are symbols where weakness can be bought.
No doubt that the indices have been rallying, but now that price action has reached the overbought extreme, how do we confirm that the market could pull back into the range?
DKS has recovered from the recent fall, and is showing a VZO breakout buy. I’m looking at this ticker for a Run into Earnings into November, and here are the levels I’m looking at.
FB kicked off with earnings after the bell, which leaves MSFT, AMD, AMZN, and GOOGL up to bat. It’s set to be a volatile week ahead, and with the Nasdaq hovering just below previous highs, these reports are likely to be a big catalyst — one way or another.
While the indices are either closing in on new highs (NASDAQ) or at/above new highs (S&P and Dow), the weakness in this market and even the strength, for that matter, is not where traders may think it is.
There is a lot to still like to the upside, and that mostly focused on the US dollar and energies which have been the gift that keeps on giving.
Macy’s has all of the moving averages on the side of the bulls. I like it going into Christmas season. Earnings are estimated Nov. 18.
Let’s do what we do every Friday, and review the core markets and the periphery to see how things are aligned into next week.