This week is Choc Full of Earnings as well as the FED tomorrow. The only surprise out of the FED would be accepting the inevitability of a negative interest rate environment.
Aside from that we can expect commentary about the risks from this Virus. And a need to get this economy back to where it was earlier this year.
If you left two weeks ago and came back today, both the SPY and QQQ are right where you left them.
Google, Amazon, Facebook, Paypal... a lot of earnings reports to digest this week.
There's a good chance the overall earnings reaction will help this market breakout or breakdown of its 10 day range.
My thoughts medium term... is that the $SPY will eventually breakout to $350 ...
from there we will be looking at the topside of a very large multi-year mega phone pattern.....
I'll have more on that as we get closer. The timing of the move up there will be dependent on this earnings season, and the ability for the FED/Central Banks and Governments to keep the money shooting out of the firehose....
