JPM
JPM inside day after earnings! It's earning season again!
There will be plenty of inside day after earnings trades and this one will be the beginning!
Basically I would only want to take the breakout long in these mega banks,
even if it breaks to the downside,I'll also pay attention to the 106.25 demand zone long!
Let's see how it goes!
JPMorgan: All signs point to impending melt-up in stocksJPMorgan (JPM) reported record earnings last week with strength across all major lines of businesses amid a “more constructive environment”. The stock jumped 4.2%, the biggest one day move since Nov 2016. With a close above the weekly Ichimoku cloud within reach, all signs point to an impending melt-up in stocks.
C: Pre-earnings run pattern ahead of Monday reportCitigroup has a pre earnings run pattern which tends to be caused by Pro Traders setting up to take advantage of the earnings reaction. The company will report its 1st quarter earnings on Monday. C had a reactionary gap up at open caused by the JPM gap today. It formed an indecision day candle rapidly. The early gap could interfere with the technical patterns for the report release day.
Goldman Sachs Earnings Pop? Hey guys, quick disclaimer; I am a novice technician but I'm here to learn!
I'm playing some $210 call options for Goldman Sachs earnings.
Goldman to me, has more upside potential in the financials vs. JPM or BAC. And with the onslaught of IPOs it should be a forgone conclusion their revenue/earnings should be boosted in that environment. The SPY appears to want to make another attempt at all time highs so I've shifted my view to GS for a catchup trade with GS.
Feel free to give me your thoughts on the trade or the chart analysis.
Thanks!
-R
JPM: Dark Pool rotation against buybacks ahead of earningsJPM kicks off the official earnings season this week with a report due out Friday. All attention will be drawn to these early banking industry reports that will set the tone for the entire 1st quarter earnings season. The stock has had buyback activity recently while some Dark Pools lowered their holdings. The chart shows patterns of Dark Pool rotation.
Warning signal for U.S stocks? Pay close attention to XLF today (FOMC) - Although it is currently testing support there's an option for a false break signal here.
If XLF won't close in green today after Powell's message, this can be a trigger for another short term wave (and potentially even a strong one) in U.S stock markets.
Pair Trading Idea JPM/PRUApplying some of the most popular indicators on the pair JPM/PRU shows an interesting pattern. While PRU NYSE:PRU has been clearly outperforming JPM JPM since several weeks, a trend reversal seems to occur. JPM might catch up in the coming days and weeks. The daily and the weekly RSI (1st indicator at the top "Ultimate RSI Multi Timeframe"), the Wave Trend Oscillator (2nd one) and the ultimate MACD oscillator (3rd one from the top) reversed recently from their lower ranges. The Squeeze Momentum Indicator (at the bottom) shows a nice divergence, which is also observable on the RSI.
The price action confirmed the reversal in the last days. The setup is worth being given a shot: Short PRU, Long JPM. The strategy is market-neutral and is profitable when JPM starts to outperform PRU.
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