| GUY COHEN’S MARKET MOVERS + TRADE RADAR
Bumpy Bullish Earnings… (then it runs out of steam)
Sometimes it does feel a bit uncanny, but this is the huge payoff that our unique approach to the markets gives us.
And of course, that then puts us at a huge advantage for selecting stocks and options which are typically in the prevailing market direction.
Two weeks ago I said that I expected the three main indices (DIA, QQQ, SPY) would most likely reflect a positive but bumpy earnings season.
This is exactly what appears to be happening now, with the bumpiness caused by some stocks rising and others falling as they make their announcements.
But don’t forget the other thing I said: I expect this market to run out of steam after earnings season. A retracement then would set us up nicely for the rest of the year with plenty of bullish Shrinking Retracements.
Follow the money,
— Guy Cohen
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