The market’s down a random amount Tuesday morning, but there’s a lot of catalysts on deck we need to pay attention to…
In terms of the big picture, the Russell 2000 (IWM) appears to be stalling out, much like Cathie Wood’s Ark Innovation ETF (NYSEArca: ARKK).
Meanwhile, the Dow looks ready for a breakout… BUT, in my opinion, there isn’t enough momentum for it to really break either way from current resistance. So far, earnings have priced in much of the movement higher we’ve seen the past three months.
I don’t think there’s enough of a catalyst to push it higher… Same thing goes for the Invesco S&P 500 Equal-Weight ETF (NYSEArca: RSP).
We have big reports coming Tuesday in retail sales and industrial production…
We’ll discuss all that and more in today’s brand-new video briefing, including why I’m turning sour on the Financials sector… why technical levels on SPY are making me nervous… the biggest take away so far from earnings season… major levels on the bond market to watch… an update on momentum levels… and how to navigate effectively in light of inflationary pressure right now!
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