The market has presented some great opportunities with the earnings season still far from over. The S&P 500 (ES) is trading below Tuesday’s all-time high at $4,590 as the bulls continue their strong bounce back.
While the market is extended, this doesn’t necessarily mean it will trade lower. As long as the ES holds $4,549, we expect the market to remain bullish.
The ES is printing a tight 4-hour squeeze ahead of big tech earnings with AAPL and AMZN reporting. If the squeeze fires and the ES breaks all-time highs, we’ll anticipate a push toward $4,360. If not, expect a drop to $4,549 and down to Point of Control (POC) at $4,528.
Avoid having a strong bias in one direction or another, and instead, watch and react to the market.
Watch the video above to see which key levels and earnings reports we’re watching ahead of next week’s economic events. View how we use the Volatility Index (VIX) as a compass and approach potential setup opportunities like on SHOP, NVDA, and FB.
I’ll see those of you signed up for my Max-Out Your Trade strategy class this Saturday, October 30th. If you’re interested in signing up and getting access to the class recording, sign up here: https://bit.ly/3vR5O3o
Stay Focused!