The earnings deluge is about to begin. As happens each quarter, the financial stocks start the stream of reports. So far this quarter it has been a mixed bag for the few bank stocks that have reported. Still, there is heavy buying in the stock market and that group has gotten a big lift from recent lows.
Earnings this week include;Â BACÂ on Monday, GS on Tuesday, and MS on Wednesday. Based on our analysis, we would be surprised if the financial stocks gave much ground. See the XLF chart, below, with our cyclical analysis and projection.
Our analytical universe consists of the 325 best traded high and mid-cap stocks. Take a peak at our “Earnings and Economic Calendar” for the coming week.Â
(Click on image to enlarge)
(Click on image to enlarge)
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