No Earnings Breakout

April 28, 2023
Author: Peter Stolcers, Founder of OneOption

Earnings releases climaxed this week and they had the potential to fuel a breakout. That did not happen and we could see profit taking.

PRE-OPEN MARKET COMMENTS FRIDAY – This week we had major earnings announcements. From my perspective, the market reaction confirms that resistance is intact. Earnings were a potential breakout catalyst. They failed to produce and the air will get let out of the balloon. Shorts will be more aggressive now.  

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