Start the conversation
Earnings season is winding down… but it's not over. There are some really important, potentially market-moving reports coming out in the next few days.
Markets are still digesting the Fed "disappointment" and the extreme ups and rapid downs of the U.S.-China trade conflict, so that could lend these reports some outsized influence.
The lows made last Monday after the combined tariff war and currency war threats had spooked markets have held. There was a 7.3% drop from the intraday high on July 26 to the intraday low on Aug. 5. That's very important, as the market stabilized last week and even popped up on Thursday when traders were appeased by the possibility of further Fed rate cuts before the end of the year. Stocks are up sharply today (at one point, the Dow was up around 423 points) on news that the administration is going to delay some of the tariffs poised to hit U.S. holiday shoppers until December.
The key things that I'm watching include the 2,900 level on the S&P 500 and whether volatility remains at its high levels. The VIX was over 21 at one point this morning – that's a high reading.
About the Author
Nationally recognized technical trader. Background in engineering, system designs, and risk reduction. 26 years in the markets.