The Week Ahead - Broad Markets

Earnings Season Carries On, But $SPY Approaching Decision Time

Another big earnings week

The chart everyone is sharing. Thickness of the trendline aside, we’re now consolidating in conjunction with the uptrend from October lows. This price action will resolve next week. My hunch is lower, but preparing for whatever the market decides.

With the exception of MSFT 0.00%↑ , the heavy hitters report next week. Will be interesting to see if the Microsoft report tips the scale for the others.

Small caps have kept pace with the megas so far this year

The Dow has been the relative underperformer YTD, after a strong 2022. Remains constructive above the trendline, a break below might merit a move back towards the 200 week (green line)

.