Happy Sunday, today we will be looking ahead at the coming week in the stock market. This past week has been turbulent with a ton of reported earnings and the scare of the coronavirus outbreak. The SPY has, in the previous trading session bounced off of the 200 day EMA on the Daily chart.
I will be a bit hesitant to enter any day hold positions and will most likely exit my positions a little sooner if I trade this week. There are also many big companies that will be reporting earnings this week like DISNEY (DIS), ALPHABET (GOOG), and many others that have the ability to put power back into the SP 500. This week we also have the NON FARM PAYROLL report on friday.
With the uncertainty we saw in the market this past week it will be important to be aware of economic reports and be patient when taking potitions. I wish you all a profitable week, and happy trading!!!!!