We are entering the heart of earnings season so now is a good time to check in and see how the early reports look and what that means for the stock market outlook (SPY). Spoiler Alert: It looks very bullish. Read on for full details below….(Please enjoy this updated version of my weekly commentary from the Reitmeister Total Return newsletter).
Everything we have discussed about the market the past two months remains the same. That being the illusion of the conservative stocks in the S&P 500 making new highs as the overall market is actually in Risk Off mode with most groups seeing stiff corrections. Unfortunately that situation is unchanged.
Instead, let’s turn our attention to Q2 earnings season because it is important to appreciate the early trends as we enter the heart of earnings season. This is especially true as nearly all our portfolio reports in the next couple weeks so we will want to be prepared for what is likely to come next.