If the S&P 500 ETF (NYSEARCA:SPY) index breaks 274, or worse, closes below 274 we’re most likely making further near term lows.
This is a risky time where many are looking for a low but the market has not proven to reverse trend.
We’ve been telling subscribers for a month or two that we’ve been cautious on the market. We either need a washout or a change in trend higher but so far have had neither so we think more risk ahead.
Because of that we’ve been taking more of a wait-and-see for tech earnings season rather than getting aggressive ahead of earnings reports.
With China tariff issues, dollar and rate issues we’d prefer to react to great reports than carry much risk in this time.
Looking For Tech Earnings Home Runs
We spoke to the top tech companies over the last few months to identify what tech stocks have home run earnings potential. Earnings are what drives stocks, especially tech stocks. Finding those few tech stocks that have realistic earnings trajectories way above the Street can give you conviction to see a stock through to big upside. Dip your toe in the water with a free trial.
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We have no holdings in the stocks mentioned unless otherwise noted.