No Earnings Surprises Yet… But Check This S&P Short Setup — Don’s Daily Brief
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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The Daily Pick is Don’s daily alert service, where for just a few dollars a month, he gives you a pick every trading day, complete with triggers, stop loss and profit targets.
ABOUT DON’S DAILY BRIEF:
Every market day, Don Yocham scans thousands of potential stocks, whittling down the list to just a handful that could be setting up to make BIG moves.
The top idea from his daily scan ends up here.
For specific trade instructions, including triggers and stop loss levels, take a look at The Daily Pick, where for just a few dollars a month, you’ll get full trade instructions on Don’s top idea each day.
