The week ahead will be dominated by earnings with Amazon, Apple, Facebook, Google, and Microsoft among the 165 S&P 500 (SPX) firms reporting, explains Ian Murphy of MurphyTrading.com.
On Friday, the index broke above 4000 to make another new high, but leading market indicators ticked down continuing the familiar theme of late. Composite Help is back above zero and Pessimism is above 10%. Not exactly a vote of confidence from rank-and-file stocks.
Overnight volatility has risen on all stock futures, but especially on the mid-cap Russell 2000 (bottom right). It looks as if we might be in for another roller coaster week in equities.
SteriCycle did not trigger an FBD Strategy trade on Friday as the price bar failed to close positive and above the first low (black line).
Learn more about Ian Murphy at MurphyTrading.com.
