Earnings Take Shape
By Bennett Tindle October 29, 2020
Greetings traders & investors! We hope you and your family are doing well as we enter into the holiday season. Can you believe the elections are NEXT WEEK? Pretty amazing how quickly this year has gone by. In addition to the elections, we’ve also been digesting earnings from the index heavy-weights.
Yesterday on our TA Live! Wednesday LiveStream show we pointed out the fact that positive reports out of AMD and Microsoft were not well received, which was evident based on the price action that followed.
Surprising? Not really. Why you might ask? Well, currently market participants have three key concerns at the forefront of their minds… #1 A lack of stimulus, #2 Rising coronavirus cases, and most importantly, #3 … Uncertainty heading into the elections. You see, often time analyzing the markets comes down to analyzing the psychology of its shareholders… And in our current market environment, not even positive earnings can yield a positive tick. Tune in as I walk you through our Elliott Wave analysis of the S&P 500, highlighting where we expect the markets to be heading into the New Year!
Elliott Wave & ’87 Crash
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