We have a busy week of catalysts that could shape the market with unfortunate international news, the tail end of earnings season, and economic events.
The recent news of Russia possibly set to attack Ukraine on Wednesday has escalated tension in the market and is a very important catalyst to watch. This event – possibly devastating – could cause a massive move in the market so it’s important to pay attention to the news flow during this sensitive time.
Now that the big technology names are out of the way for this earnings season, we’ll preface the larger names we’re personally watching for reports this week…
- Tuesday: Roblox, Upstart, and Airbnb
- Wednesday: Shopify, theTradeDesk, and Nvidia
- Thursday: ROKU
For the economic calendar, we’re keeping a close eye on Wednesday for the retail sales report in the morning and the Federal Open Market Committee (FOMC) minutes in the afternoon.
We’re continuing to build off our thesis that as long as the /ES (S&P 500) holds the 200-day simple moving average, we can see how strong the upside potential is. If the /ES trades above the daily mean (21 exponential moving average), that strength is amplified.
With the many events and reports this week, make sure to stay smart, patient, and recognize the environment for what it is – volatile. Our best advice is to size appropriately to avoid any circumstantial losses.
Since many of our top names have earnings this week and we’re patiently waiting to get through those, we’re mostly focused on trading the overall market.
Watch the video above for a full analysis of the major indices and overall market volatility.
Stay Focused!