Stocks dipped to start the week before we saw a strong pivot Wednesday that lead to a big rally through the week's end. Bank earnings were strong to kick off earnings season which drove the market higher. The market looks good for further gains on a weekly time frame. However, heading into the week the market is overbought so I am looking for digestive action in the form of a pullback or sideways movement. Ideally, we see the market pull in early in the week and form a buyable pivot so I am anticipating the latter half of the week to be more active.
Earnings season gets into high gear this week as the tech sector begins to report. Netflix kicks off the heavyweights when they report Tuesday after the close with Tesla and a myriad of other companies throughout the week.
Earnings season is always the busiest time with hundreds of companies reporting each day, there is endless research to be done. Last week was the calm before the storm with the season really getting underway this week.
Prepare yourselves accordingly!