Happy Sunday
It was a tough week for the bulls as we head into an eventful week of earnings ahead. The cannabis sector had a pullback as legal recreational sales turned out to be a sell the news event. Almost every sector looks technically damaged along with the major indexes. Volatility is high as the markets try to hold potentially key areas of support. The concern for me is that even with some companies like NTFLX and ADBE reporting good earnings and guidance the stocks struggled. If this starts to become a trend this earnings season we could see a lot more pain for the bulls before there is any kind of significant bounce. Even when that bounce occurs we are starting to see indications that the economy and the bull run may be getting tired. Housing, car sales, and a few recent news clips of layoffs have me getting more concerned about the Fed moves and where this economy may be headed in the next 12 to 24 months. We will see how it all plays out but for next week the key focus will be on how stocks react off of their earnings. We have some huge names reporting in what is the busiest week for this earnings season with a good breadth or industries and sectors being involved as you can see from the list below.
Source Earnings Whispers
Last weeks pro member stocks to watch and their performance
Next weeks Economic Calendar
*Source Market Watch.com *
*This weeks video of Stocks to watch *
