By Eli, Jimmy
Institutional sweeping activity was fairly bullish on Friday, although 90% of the buying could be considered earnings positioning. It certainly got the job done in regards to intraday momentum. Alongside favorable short-term sentiment coming into the day and strong breadth throughout the session, the indices basically just glided higher all day.
There are many big names set to report, beaten down high growth plays saw some additional squeeze positioning late Friday afternoon.
Bullet points
Big week with big earnings and FOMC.
If any weakness Monday, keep an eye on Call sweepers as buyers should hold things together early week.
Intraday sentiment back over neutral but no sell signals yet. Intermediate-term sentiment signaling positioning quite full but still leaves room for further upside before being "cooked".
The energy sector approaching a buy signal but many names in the group set to report numbers. Semiconductor breathing nicely.
Healthcare round trip, from bull signal to sell.
Gold fresh off short-term sell signal over the recent rally. Look for sweeper buying with some time for clues that the upside may be put in motion. If the market has some more upside left off the Fed, that dip may be the spot for gold.
Locking in some profits, rolling out positions, putting on some protection if too long, sizing down and trading intraday are some of the things we should focus on this week. In another week or so we will start seeing the sky clear and the "real" buying make its way through post-earnings flow.
Notable bettings toward broader market indices ETF on 4/23
Individuals breakdown by sectors (4/26 notable bets)
Tech
Industrial
Consumer Cyclical
Financial
Communication Services
Healthcare
Energy
Basic materials
Consumer Defensive
