Earnings have been coming out, and there hasn’t been a major disappointment so far.
But that’s in part because analysts have lowered their expectations so much.
Nonetheless, banks are looking pretty weak — and now we’re in the middle of tech earnings season, so we’ll see how that plays out.
Also, we’ve got the Fed next week. Are they going to hike 25 basis points? 50 basis points?
And China — how much are they reopening? We’ll see.
We’ve got an interesting situation setting up on the S&P 500 futures and I it tells me this market’s headed down.
The Volume Profile is showing me a really nice setup for a move down to about 3919 — so I think we can expect another 100 points or so from here.
► With that, I’m recommending you buy SDS, a 2x inverse ETF on the S&P 500.
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