The markets continued to push higher as they look to be closing in on the upper range set earlier this summer. This bullish move has been very direct, with very little bearish resistance. Earnings results have definitely played their part – although they haven’t all been great, there seems to be more bullish reaction than bearish.
The markets are showing signs of over-extension as this bullish move continues. We don’t want to try and guess a top or quit taking advantage of bullish trades; however, leaning towards a more sideways outlook could help reduce exposure with a market correction. Overall we need to stay bullish along with the current market sentiment.
Continue to follow earnings results as we continue through the season. We have seen some great opportunities out there, especially after results. So, stay diligent and follow your rules.
Have a great night,
Maverick Trading
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