The Fed: Day Two and Earnings Watch
Post-Fed, we saw the market plummet this morning and now it is rallying…
As I write this, SPY is trading at $404… higher than yesterday’s close of $401.04.
Image from wallstreet.io
I am looking to fade the first move we see in the market.
Later today or early next week, we will give away a decent portion of the gains from yesterday and today, then give up the balance of leftover gains over the following days.
There’s a big name that I’ve been watching that is posting earnings TODAY.
It’s moves directly correlate with the market and I will be jumping in to play right after earnings.
AAPL is going to be the most important stock to watch going forward and is going to set the tone for the rest of the market.
It is currently trading at $157.06…
Image from wallstreet.io
Unlike many of the other mega caps, AAPL is not far off its highs, and there is some real potential downside here.
I’ll also be watching oil and gas earnings from the mega caps and I’ll find cheap options up to earnings or after earnings – NOT hold through them.
Until next time,
Mark Sebastian
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July 28 2022
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