DailyPlay Update – Refocus on Earnings – July 2nd, 2020
S&P 500 Market Outlook: Neutral
Market Overview: Markets shrugged off COVID jitters this week, after an extremely strong quarter but muted June. It’s important to remember that markets still remain neutral and below key resistance levels at $313. Breaks below $300 put it in a bearish tone, whereas above $313 puts it in a much more bullish trend. Earnings season is coming in full swing the following week as investors start to refocus on Q2 earnings after the holiday. Keep an eye out on upcoming earnings by using our Earnings Calendar.
DailyPlay Update: As we enter a thin trading session tomorrow before July 4th, we maintain holding our short positions in HSY, SBUX, and SPY hedge and AMD, CRWD, IBB, LUV and WMT long.