End Of Day Post

Earnings results are still rolling in, as the markets continues lower this week. We are seeing mixed results so far; however, the companies who come up light are weighing heavy on the markets. There are still a lot more announcements to come, and with a very light economic calendar this week, we should continue to see market reaction to the results.

Technically, we are still in a bull pull back here. Volume has been increasing with this move lower, so keep any eye on the VIX for confirmation of something more than just a pull back. Keep an eye on support as well. We could see the bulls step in at these levels, as we haven’t heard from them yet this week.

Consider keeping a balanced portfolio as we move through earnings season. We could see a directional bias reveal itself over the next couple of weeks.

Mid-Week Outlook

• Bullish: 13%
• Sideways: 46%
• Bearish: 41%

Have a great night,

The Maverick Trading Team