SPX QQQ To keep some context on what's going on earnings wise,
here are some reactions after earnings as of last
evening:
CRSR down 11% SAM down 9% ISRG down 12% TTD down 6% SIVB down 8%
STX down 9% SNAP down 26%
Caution is warranted given how overbought things are here and
the economic backdrop. Also, the more we rally into the FOMC, the
more pressure the Fed will have to be more aggressive. Normally the
market would drop into the FOMC to pressure the Fed to be more
dovish. I think there "could" be some more gas in the tank once a
pullback comes and this settles a bit. I'd like to see how the
market reacts after a 100 point SPX runoff and getting below 3,900.
That 3,860 or even 3,830 gap look reasonable.
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SPX QQQ To keep some
Posted by fundamentalvalues on 22nd of Jul 2022 at 07:57 am
SPX QQQ To keep some context on what's going on earnings wise, here are some reactions after earnings as of last evening:
CRSR down 11% SAM down 9% ISRG down 12% TTD down 6% SIVB down 8% STX down 9% SNAP down 26%
Caution is warranted given how overbought things are here and the economic backdrop. Also, the more we rally into the FOMC, the more pressure the Fed will have to be more aggressive. Normally the market would drop into the FOMC to pressure the Fed to be more dovish. I think there "could" be some more gas in the tank once a pullback comes and this settles a bit. I'd like to see how the market reacts after a 100 point SPX runoff and getting below 3,900. That 3,860 or even 3,830 gap look reasonable.