WE’RE ON YOUTUBE NOW! See HERE & HERE (Yeah … I’m REALLY excited about this).

Follow on Twitter

Before you Trade Today: Know the Economic Calendar! Also See This Weeks Most Anticipated Earnings. NEVER BE SURPRISED BY EASILY ANTICIPATED MARKET BREAKING NEWS. That’s our goal here.

PAID SUBSCRIBERS: In the paid section we still have one short play (legging in slowly). Given the strength of the recent market rally, I am hesitant to add additional short play’s, … but you can bet the market is setting it up nicely for us! I have also posted yesterdays insider trades & major earnings results.

ECONOMIC NEWS: Two things I want to highlight going into next week. The Fed, as previously mentioned, is announcing their interest rate hike (Expect 75-100bps … likely 75bps). That wont be a surprise. Unless Powell says something offsetting during the press conference, I don’t expect markets to move much on this news. What I do expect the markets to move on is the GDP numbers the day after. I did a doubletake when I saw that the consensus Q2 GDP quarter over quarter growth rate was +0.9%. Remember Q1 came in at -1.6%. That’s not at all what the Atlanta Fed Tracker is predicting! The decline in the housing market alone is a massive driver of damage to GDP growth, not to mention how inflation & high gas prices are affecting consumer spending, & the early signs of a softening labor market. If a surprise is going to come from anywhere next week, I believe that’s the ticket! The Fed may get the headline credit for a little volatility prior to the rate hikes, but I believe the street will truly be looking at GDP numbers on Thursday. There’s also personal income & personal spending later in the week.

YESTERDAY’S NEWSLETTER: Yesterday’s Newsletter had some REALLY GOOD INFO in my opinion. It’s worth drawing attention to again if you missed it. You can find it HERE. Be careful with exited markets in bearish conditions. They always over do it! The result is a bipolar earnings season & max uncertainty. Mainly banks & a few tech companies reported so far. It’s far from over & there remains much to be seen. The markets may be pricing in earnings that will not be realized as the season progresses.

WORLD MARKETS:

• Nasdaq futures slide as Snap results weigh on technology stocks

• Asia-Pacific markets mixed as inflation in Japan inches up

• European stocks muted as investors track monetary policy, earnings

RECOMMENDED:

• West Coast ports reduce idling vessels as container supply increases

• Why Amazon’s three biggest deals ever were for a grocery chain, movie studio, and health care provider

• Snap shares plunge 25% on disappointing second-quarter results and plans to slow hiring

• Consumers are shelling out an average $10,000 more for used cars than if prices were ‘normal,’ research shows

Follow on Twitter