Buy The Dippers Pounced

After the major indices advanced going into earnings reporting this week remember the tendency to "buy the rumor sell the news" for stocks advancing quickly before reporting.

Summary

Both the S&P 500 Index and Invesco QQQ Trust made new closing and new intraday highs last week after recovering from quick pullbacks on Monday. With the exception of continuing market breadth deterioration, the indicators, including new upward sloping trendlines, look bullish again. With 2Q earnings reporting by the widely followed big cap stocks, watch out for selling on better than expected news.

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Disclaimer: IVolatility.com is not a registered investment adviser and does not offer personalized advice specific to the needs and risk profiles of its readers.Nothing contained in this letter ...

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