January 25, 2023, 9:09 pm EST
Sharp Turnaround
The stock market made a sharp turnaround today with about 400 points down and up. It finished with near a flat or +9 points but the journey was wild.
The overall market does not make any progress in either direction. Earnings reports drove individual stocks to oscillate.
Here, we highlight some individual stocks that seem to form a bullish setup.
- Financial: COF +9%, PGR +5%, USB +5%, SYF +5%
- Communication: T +7%
- Industrial: TDY +5%
- Material: FCX +5%
Please note that the financial sector includes many emerging leaders in this flat market. Therefore, it may be needed to watch it closely.
The earnings keep playing while S&P is in the neutral position with merged trend lines. The stock market waits for certain events to pick the direction. We should see it when it reveals. Meantime, let’s keep watching.
