After steady growth has made the markets fairy predictable, this week may break that trend. CNBC recently spoke with two strategists from MKM Partners Derivatives and Canaccord Genuity who both said that with the upcoming flood of earnings reports:
“Companies could move up to 10% in either direction…”
A ten percent shift is no small blip on the radar. Immediate moves of this magnitude have been hard to come by in this steady bull market, so investors should be excited.
Reuters recently spoke with Robert Pavlik of Boston Private Wealth, who said:
“The market still wants to be optimistic, it wants to continue to move higher from here,”
If both of these projections are simultaneously correct, the market could be set for another major jump forward in the coming weeks. It also means that traders could be set for some serious long calls when individual earnings reports are announced as well.
The markets are likely quite excited for the latest Q3 earnings. While slow and steady gains are good for long-term investors, they haven’t been good for the big banks’ trading departments nor have they been good for overall market volatility. Keep your eye on the market to see how this week may play into the overall market trend going forward.
To read CNBC’s discussion with the strategists and to get their picks on upcoming earnings, click here.
To read Reuters’ article on Monday’s market open, click here.
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