Good morning
We end the trading week today as we head into a long weekend after what could be a defining moment for the markets. Bank earnings are going to kick off earnings season today and it could give us a hint of who will take control of the markets in the short term.
The bulls and the bears have lacked real conviction which has kept the markets in a limbo state with a slight tilt towards the bears. We are seeing some weakness in leading sectors like the SMH. Gold is showing some strength and volatility is creeping back in as concern over geopolitical events and the new administrations perceived inability to get anything done has taken center stage. The dollar is showing signs of weakness while oil has been showing some strength recently. The earnings today will likely set the tone for how we close out this week heading into the holiday weekend. A few ETF's to keep an eye on are UVXY TVIX FAS FAZ TZA GLD JNUG NUGT JDST DUST for day trade or scalp opportunities.
Regardless of how earnings come in do not chase anything. We are heading into a long weekend and that will give the markets time to absorb the data and we will see if the geopolitical tensions subside or intensify. North Korea seems to be doing a lot of saber rattling and its anyones guess as to if and when they may follow through with their latest threat.
All we can do is react to whatever develops, worrying about things will not change anything. Try to have a clearly defined plan to navigate the markets regardless of geopolitical events or who takes the reigns of the markets whether that be the bulls or the bears.
Have a plan, know your risk reward and do not chase.
I hope you have a wonderful weekend be safe and have fun.
- AAOI raised guidance on earnings and gapping premarket OCLR could be a potential sympathy play
- OCRX gapping on low volume after some news after the close potential day trade opp do not chase
- RDHL potential day trade opp off pr testing long term trendline
- KTOS potential swing opp on a pull to support
- AGEN insider buy 100 k @3.35 potential day trade opp
- VSTM upgrade with 6 price target potential day trade opp
- EYES recent large insider buy @ .95 cents pr this morning gapping over 1 do not chase can be a pop and flopper potential day trade
- RETA price target raised to 55 by Landenburg very tiny floater recent IPO potential day trade do not chase
- RVLT pr of contract can be a pop and flopper but worth watching for a day trade
- GEO contract news could be a swing or day trade opp
- AMRS nice PR gapper could get some follow through of yesterdays move day trade or higher risk swing
April 13th Free Pre Market Prep from Alpha Wolf Trading on Vimeo.
