Good Morning and Happy Friday!
On Thursday the S&P 500 just barely closed above the 4200 mark at 4200.88. it was not a convincing close to say the least. There are still clear headwinds that have to do with inflation fears, disappointing job numbers, etc.. On a positive note, earnings have been strong and the prospects are for much stronger earnings going forward. Climbing the wall of worry is not a bad thing and the market sideways moves are still bullish. So I would not be shorting this market but taking advantage of the opportunities it gives us. We will be sharing a great trade in a few weeks that has provided a 30% return in just a few months. We call it the RSI trade. In the webinar, we will share the trade plan and the scan that we use to find the stocks to trade so stay tuned. For now, stay long and enjoy your weekend!
