Highlights from The Weekender
November seasonals are bullish, though only the equal-weight S&P 500 has been following the seasonal script recently.
It’s another big week for technology earnings, with Apple, Palantir, AMD, and more set to report.
Energy stocks still act great, but could a post-midterm bombing of Iran be a sell-the-news event?
Good morning,
Nasdaq futures are up 0.6% this morning, attempting to bounce back from their third-straight weekly decline.
Of course, with Apple and Palantir earnings after the bell today and AMD tomorrow, what’s happening this morning likely has little significance on where we end on Friday.
This week is chock-full of market-moving catalysts, and the best course of action in any such week is to keep trading light. However, I would argue the charts further support that, and today’s featured opportunities are fittingly limited.
If there’s something I’m watching outside of the reaction to tech earnings, it’s rates. As the latest Weekender showed, rates have been right at the center of the tech vs. “the rest” of the market debate. But now that 10s have nearly completed a full round-trip of the September bond sell-off, I wonder if we’ve seen the peak of the “either/or” market.
If rate volatility dies down, equities might have to choose something else to trade off of.
