Choppy Whippy Conditions Likely Until Post Earnings

by | May 8, 2023

A false breakout on Monday followed by three down days, and finally a gap up on Friday … That’s what you call challenging market conditions.

The markets

Last week’s headline pointed to some limited upside potential but there was generally thin participation.

It’s a similar sentiment this week but with the added comment that the bearish setups do look generally tidier.

Market Outlook:

With some notable exceptions, earnings have been pretty dull. As I review at least 200 stocks, the bullish setups aren’t as attractive looking as the bearish ones.

This would suggest again, limited upside.

Guy Cohen

WRITTEN BY<br>Guy Cohen

Guy Cohen

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