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This past trading week — the final one of President Biden’s presidency — ended on an upbeat note, with the S&P 500 ($SPX) and Nasdaq ($COMPQ) closing above their 50-day moving averages while the Dow ($INDU) closed just shy of it. Market breadth indicators, such as the Bullish Percent Index and the percentage of stocks trading above their 200-day moving averages, are also strengthening.
From Tuesday, the stock market will be dancing to the tune of a new administration (the markets are closed on Monday for Martin Luther King Jr. Day). Earnings season is also underway and, so far, they’ve been solid. Analysts expect a strong earnings quarter. Only 9% of the S&P 500 companies have reported earnings as of January 17, so there are plenty more to come.
The chart below is definitely one to add to your ChartLists. It shows the performance of the S&P 500 with respect to its P/E ratio. There are some other useful and interesting insights in the chart, as you can observe.
Our earnings calendar should be front and center during earnings season. It presents you with an extensive list of upcoming earnings, which you can narrow down by market cap and sectors. If there’s a specific company you want to look up, just type in the company name or ticker symbol in the search box in the top right.
With the transition to a new administration and earnings season in full swing, expect market volatility. This can be challenging for stocks, but it’s a great environment for trading options.
Whether you’re a beginner or seasoned options trader, you’ll want to explore the OptionsPlay Add-On available to StockCharts members. This feature allows you to quickly analyze technical trends and identify optimal options strategies with a few clicks.
If you are an OptionsPlay Add-On subscriber, we have some exciting news for you. Tony Zhang, Chief Strategist at OptionsPlay will be hosting a free webinar. You should have received your invite. Mark your calendars, because you won’t want to miss this hands-on training session. Tony will walk you through all the functions and features of the OptionsPlay tool, setting you up to navigate through it effectively and efficiently. After attending this webinar, you’ll be able to quickly identify optimal options strategies for stocks and ETFs.
The webinar will be on Tuesday, January 21, at 12:00 p.m. ET.
If you’re not an OptionsPlay subscriber, it’s not too late. Subscribe to the OptionsPlay Add-On by January 20, for your chance to attend the webinar. That’s just a few days away, so act quickly.
The +1: Be sure to read our article on bank stocks. The big banks kicked off earnings season with a bang, but that’s just the beginning. Bank stocks need to be on your radar!
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