Three Technical Events to Watch This Earnings Season
Good afternoon,
As I’m sure you’ve noticed by now, I’m a sucker for the technical side of trading.
Well today, I want to show you the three things I’m watching from a technical perspective.
Why?
Because it’s earnings season BABY!
The markets are going to become hyper-sensitive to the technical side of trading during earnings season thanks to investors’ expectations…
So, What am I watching as we get into the thick of earnings season?
For starters, there’s an index with its Relative Strength Index (RSI) trading above 70 – on a 21-day NOT a 14-day window – indicating that it’s EXTREMELY overbought.
And the next thing that you need to keep an eye on is an homage to the bad boy of trading – Mark Sebastion – and we’ll be keeping an eye on the CBOE Volatility Index (VIX) to see if it can break some key levels and get this market going again.
And the third thing is going to be momentum – or more specifically the Market Breadth.
Now I’m not leaving you high and dry here, I’ve recorded a quick video – about six minutes breaking down exactly WHY I’m watching these indicators.
So, if you want all of the down-and-dirty details on WHY you need to be watching them also, check out the video below:
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July 20 2023
