"Limiting losses is by far the most important trading component. Capital is the inventory of a trader. Lose the inventory, business is over." Peter Brandt
Good morning
As a strong earnings season comes to a close the strong earnings did not have as much of an impact as they normally do. There were a record percentage of companies that beat consensus estimates yet the political climate, new fed chairman, macroeconomic and overall valuation concerns stifled share price reaction.
In the face of Cohn resigning and the tariffs being imposed the equity markets, in my humble opinion, have held up extremely well this week. This morning we have the employment situation numbers hitting and there will be a lot of focus on potential wage inflation in the average hourly earnings number.
Technically things were getting concerning for me earlier in the week as we approached some short term trend line resistance and we had put in a lower high in some indexes. We have taken out those short term trend lines and we are working our way back up with a few higher highs and a couple higher lows in the IWM and IBB. However, we are not completely out of the woods yet I am still concerned about a couple sectors like the IYT and the SPY.
Today's Economic Calendar
8:30 Non-farm payrolls
8:30 Fed's Evans in a live interview with CNBC's Steve Liesman during "Squawk Box”: U.S. Economy and Monetary Policy
10:00 Wholesale Trade
10:45 Fed's Evans in a live interview with Kathleen Hays during "Bloomberg Markets": U.S. Economy and Monetary Policy
12:45 PM Fed's Evans at Shadow Open Market Committee: U.S. Economy and Monetary Policy
1:00 PM Baker-Hughes Rig Count
Source Seeking Alpha
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Stocks to watch for trading and investing ideas
$STON $NETE $IMMY $MRVL $OMED $GNC $SNMX $GCAP $INTT $CHK $CCXI $RCKT $PDLI $FNKO $UPLD $JAGX
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