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1. Options expiration for July is next Friday. This usually means that next week is a time for a lot of institutional game playing. Tech has been the strong industry group so many of those parabolic stocks are vulnerable to declines next week. Some pullback candidates include AAPL, AMZN, TSLA, SHOP, MSFT and many others.
2. Earnings season kicks off next week. The big bank stocks will be the first to report on Tuesday. JPM is the one stock to watch as that is really the most important. JPM has been down-trending since June 5th, 2020.
3. Mixed tape. Nasdaq pulling back, Russell 2000 up, Financials up, Energy up. Big up Monday. Nasdaq is positive on the year and other indexes are lagging.
4. Covid deaths and cases are up. But markets are ignoring it. The numbers are very fudged and the market’s not buying it. Treatments are extremely cheap and effective. Mass rebellion against lock downs coming. People are done with it.
5. How can the market be going up when the world is collapsing? As the saying goes, stocks climb a wall of worry. When markets go up on negative news, you’re seeing something you need to pay attention to. Negative news can translate into positive returns.
6. Paul wants to give up after 20 years of losses. Nick says, know yourself. Learn about what makes a market move? You need to invest some time and effort to figure out the market. We’ve been in a choppy sideways move for the past 2 months. Wait for the setups. Don’t be a punter/gambler.