I hope you had a refreshing weekend and are ready to dive into this new week. Today's focus will largely be on examining the trends depicted in our weekly charts.
The VIX has continued its upward trajectory, marking its second consecutive week on a buy signal. Consequently, major sectors and subsectors on both sides of the border have moved lower.. Despite initial concerns, the situation in the Middle East appears to have turned out less dire than anticipated, sparking a modest relief rally in today's early trading.
However, Friday's lackluster bank earnings left the market somewhat unsettled. While we had hoped to surpass this hurdle swiftly, we remain cautiously observant as more bank earnings reports are slated for release this week.
As we observe the futures trading higher in the premarket today, it's worth noting that Monday might evolve into a day of internal reflection and market indecision.
This content was originally posted on the Stock Market Timing YouTube Channel