Just when you thought the market was ready for a pullback, we rage on. Wednesday's Fed decision to keep rates unchanged caused a negative reaction in the broad market late Wednesday and continued into Thursday, all to be forgotten by Friday's jobs number, which caused the market to surge higher yet again.
Late Sunday, Trump just announced new tariffs for China beginning Friday, and the Dow flushed a quick 500 points with Caterpillar, Boeing & Apple, companies heavily dependent on China, causing the meat of the move.
Another crazy week of earnings ahead, with a ton of great setups out there heading into the week. With the likelihood of walking into a Monday morning gap down, I anticipate we'll need to be extra patient off the open tomorrow.
Recent issue SWI finally got earnings out of the way and is still within a tight flag on the daily. Inside week below resistance makes this entry very clear through $20.05 earnings day highs.
Hope to see you in the chat Monday!
Two Watchlists again this week coming in the following email.
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