This is now the 3rd week of the market’s melt-up. It’s unusual for the S&P 500 (SPY) to go up so long without a pullback. But, it’s the most logical outcome given the combination of year-end strength, fund manager inflows, and a strong earnings season. Yes, this earnings season has been strong on an overall basis despite some high-profile misses and some cautious commentary on conference calls. In today’s commentary, I want to review earnings season in more detail and discuss some interesting, potential opportunities in the market. Read on below to find out more….(Please enjoy this updated version of my weekly commentary published November 1st, 2021 from the POWR Growth newsletter).
Market Commentary
First, let’s take a look at the past week: