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How Strong Q3 Earnings Could Provide a Tailwind for the Stock Market By StockNews

by Mike Robinson

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© Reuters. Stock Market could benefit from strong Q3 earnings

Over the past week, the S&P 500 (SPY) mostly moved sideways before breaking out today on strong volume and price action. It’s too soon to know whether this is the start of a new uptrend or simply just another bounce. We are now entering an ebullient season. Early indications suggest that the Q3 earnings season will be strong, which may be another positive for stocks. In this week’s commentary, I will cover this topic and our market outlook. Read on below to find out more….You can enjoy the updated version of my weekly Commentary published October 15, 2020 from POWR Stocks under $10.

Over the last week, the S&P 500 is up by 0.8% with the up 1.3%. It’s certainly been more of a rotation-type environment rather than a trending market where all boats are lifted higher.

These types of advancements are generally more durable and last for a longer time. The S&P 500 is up by 20% this year, yet it’s never gotten too extremely overbought other than in mid-February, where it was punished with a steep decline.

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