All Time Highs Or A Fed Fueled Fantasy?
Stocks continue to grind higher as many of the tech companies have reported and beat earnings estimates. There's still a lot of announcements still to come like the FOMC meeting. With the better than expected GDP numbers and earnings will the Fed make any hawkish comments or stick to the dovish script? Here's where the opportunities are next week.
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XOM has had a history off multi-day sell-off post earning (missing expectations) although the move towards down has always been followed after a gap down with a red daily candle. Now they missed earnings and we had a gap down but towards the end of the session we had a strong reversal into the close which turned the daily candle green. Now I’m wondering is that gonna be followed with red candles the following days (same post earring pattern sell-off) or is there any chance that after such bad earning we could see a move upward in the coming week?
Thanks!
You might like this article about $XOM
talkmarkets.com/.../lousy-shale-economics-financial-troubles-continue-at-exxonmobil
Yes @[Saeedm](user:93475), that's $XOM in a nutshell. #ExxonMobil
Great insight and question.