, which reports this week, ... [is] bumping up right against its ascending triangle pattern, so that could be a good catalyst. "
Mark Tepper, president and CEO of Strategic Wealth Partners, predicted that at least the S&P's gains would be capped given the market's overarching expectation that the Federal Reserve will cut interest rates several times over the next 12 months. "I'm still concerned that back-half [earnings] expectations for this year are still too high," he said in the same "Trading Nation" interview. "I'm just not sure how much more valuation can continue to carry the S&P higher given that four rate cuts over the course of the next year are already being priced in.""We love Amazon. I mean, it's easy to see 20 to 25% upside from here over the next year.
All in all, if you ask Maley, what everybody's looking for in the market right now might not be the most strategic thing for investors to be watching. "Right now, we're in a situation where everybody's looking at the earnings reports," he said. "If we can get through that earnings season unscathed — which is a big if — that's going to be very positive, because if these things can move a little bit higher, the momentum could really get behind the entire market."
TradingNation 'Chart pattern.' So hilarious. Did Professor Harold Hill come to town?
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