Leaning Bullish Until Jackson Hole

Another week, another set of wild earnings reactions.

Market Outlook:

Earnings season took a decisive bullish turn this past week. It’s still inconsistent, volatile, and wild, but we can lean bullish for now. 

Bullish moving highlights included PLTR hot on the heels of MSFT and AMZN from the week before.  

Sector-wise there’s more clarity this week than before, and the Jackson Hole Fed meeting at the end of August is the next big news item to be aware of. 

Typically, this meeting has impacted sectors connected with economic data including inflation and interest rates. That means banks, financials, housebuilders, etc. 

In today’s review you’ll see some interesting setups in the XHB, and how you can search for others very easily.   

Our market commentary continues to be outstanding. Mastering market timing enables you to swim WITH the tide at the right time.

Watch the video for more detail.

Market Timers:

• Longer Term Market Timer (OVIsi):
  Green.

• Medium Term Swing Timer:
  Bullish.

• The Main Indices OVIs:
  The SPY, DIA and QQQ OVI averages are blue, the IWM is red.

Stock Selection:

The focus remains firmly on Post Earnings setups, and I’ll be using our new Earnings Calendar function to monitor stocks with upcoming earnings, so I can be ready for them when the do announce.