The key event in the coming week is the Stress Test Results, personally I would not go short ..... but it is different from committing to any long positions. However, the surprise is...what if the stress test results are not as bad as expected....? Then the markets could start rallying like mad again.
The market will most likely go higher tomorrow due to some finishing touches to the Month end window dressing.
As mentioned, I like AMZN for a possible reversal play from tomorrow onwards.
AMZN has recently been upgraded and was in the midst of correcting an overbought condition.
As for the SPY, there remains to be some uncertainty in regards to the financials. I do not expect a major selloff....but I think financials could continue trading sideways with the exception of GS. Keep on observing the channel.
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