Earnings season for the banks
This week is going to be a big one with US CPI and the Fed minutes on Wednesday, in addition to that the likes of JP Morgan and Citigroup are reporting earnings on Friday. We now see our green count as the likeliest outcome with a sharp move down this week and then a rally in May/June going to our ultimate target around 4300. Once we get to this area we will be looking to short the market very hard for the primary wave C with over 1000 points to take advantage of.
But as for this week, we're looking for an opportunity to short the market moving down to around 3700, which presents a nice 400 points of profit from current prices, but we'd advise caution with position sizes and stop losses this week as there is likely to be high volatility.
But as for this week, we're looking for an opportunity to short the market moving down to around 3700, which presents a nice 400 points of profit from current prices, but we'd advise caution with position sizes and stop losses this week as there is likely to be high volatility.
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