Earnings season is upon us and the first week did not disappoint. JPM had everyone’s attention Friday for fear it would reinforce weakness concerns and embolden the bears. However, the opposite happened. JPM reported a great quarter and finished the day up 4.7%. We collectively sighed in relief and the economy moves on.
Strong Initial Jobless Claims added to the market confidence, but are we approaching full employment? Gotta see those wages go up to believe that is the case.
Few Nice Daily Long Swing Charts
CIEN is nice and clean. Seems a break of $40 is coming.
GLW – Interesting long-term chart
WM – Always one of my favorites. WM was bought up on Thursday and added more on Friday. I like it.
CTAS – I’ve traded this many times. As long as the economy is strong and hiring, this company will do well.
AYX – It’s just an animal. I would prefer an SMA50 entry, however.
AMT – they build those towers
CSX – I’m a fan of quick retest of double tops.