Tuesday Market Outlook: October 24, 2023

[Image] Tuesday Market Outlook: October 24, 2023 Good morning, traders! This week, my focus is shifting from Jerome Powell and the Fed to the bond market and corporate earnings. Today, I’ll reveal a super-intriguing earnings trade I’m considering… I’ll also pull the curtain back on an emerging market pattern that’s impossible for me to ignore. And finally, I’ll tell you about the single most exciting event of the week (happening TODAY)! But first, it’s Tuesday, so that means it’s time to lay out my weekly market outlook. Keep reading to see the major trends, stories, and charts I’m watching this week… The 10-Year is Still Wagging the Market Interest rates are still driving a huge part of the market’s sentiment, no surprise there. The 10-year Treasury yield, often regarded as the benchmark for global interest rates, is wagging the market early this week. After approaching the 5% level, yields have backed off somewhat, settling in the neighborhood of 4.8%. While this brief drop in yields offers a sigh of relief to many, we’ve gotta put this into perspective… The recent drop in the 10-year might feel like a "dead cat bounce" in bonds. However, it's too early to tell based on this short-term movement. I’ll be more inclined to trust this move if I see a sustained move down by another 20 basis points across the board. We’ll have to keep watching the bond market. Wait and see. An Emerging Monday Market Pattern Now, I wanna show you something I’ve noticed recently — an emerging market pattern… Here’s what I’m seeing… When the world doesn’t end over the weekend, the market typically catches a bid on Monday, seeing increased buying. This is tied to something I’ve been discussing a lot over the past few weeks — uncertainty. Over the weekend, traders are on edge about what negative news stories might come down the pipe. Then, when Monday comes around without a majorly bearish headline, the market jumps. However, there’s no guarantee that this pattern will persist. We’re not out of the geopolitical woods yet, so to speak… The global political landscape is very tense right now. While corners of the market might be showing signs of resilience, we can't ignore potential geopolitical events that can potentially tilt the scales. So, while Mondays might be providing some temporary relief for the time being, the broader geopolitical concerns still loom large over the market. Focus Shifts to Corporate Earnings But more than anything else this week, I expect the market to focus on corporate earnings. The companies reporting this week make up over $5 trillion in combined market cap! And one of these companies in particular has caught my attention — Meta Platforms Inc. (NASDAQ: META). META YTD daily chart — courtesy of [StocksToTrade.com]( META is scheduled to announce its earnings after the market closes on October 25th. But to me, the stock is priced to perfection and the chart is looking toppy. I’m leaning bearish. Plus, looking at recent history, META has a tendency towards serious volatility, especially around its earnings announcements. In the past couple of years, META's stock has exhibited swings of over 20% on three separate earnings days. This historical trend coupled with the stock’s elevated price levels makes META an intriguing play to me… Here’s an idea: A small, far out-of-the-money put option play on META may not be a bad deal. I lean bearish and the stock looks topped out. But don’t just take it from me… Approach this setup with caution and trade with discipline. IMPORTANT ANNOUNCEMENT: The 11-day Surge I’m still focused on the moves in bonds and the geopolitical backdrop. But this week, I think it’s even more important to pay close attention to corporate earnings. Trade wisely and be prepared for anything the market may throw at you. Now, before we go, I have to tell you about a VERY EXCITING event happening today… I’m about to let you in on a MAJOR SECRET A phenomenon set to take place on November 1st will cause almost $1 Trillion to change hands … and present “in the know” traders an opportunity to see a year’s worth of explosive gains… In just 11 days. According to veteran trader Ben Sturgill, what’s about to happen on November 1st isn’t a prediction or forecast… Thanks to the federal government, this 11-day surge is guaranteed to take place. That’s why, on Tuesday, October 24th at 8 PM EST, Ben is joining Tim Bohen for a special broadcast interview… During this exclusive event, Ben will reveal exactly what guarantees this 11-day surge to happen on November 1st… And exactly how to potentially claim a small piece of the nearly $1 trillion set to exchange hands in the stock market. If you feel like you’ve had a tough 2023 trading the markets… Clear your schedule for Tuesday, October 24th at 8 PM EST. You will not want to miss this — [Click here to RESERVE YOUR SPOT NOW!]( As always… Stay Street Smart, Jeff Zananiri   66 West Flagler Street STE 900 Miami, Florida 33130 United States [Facebook]( [Twitter]( [Instagram]( [YouTube]( [Click Here to Unsubscribe]( **Our gurus teach skills others have used to make money. Any results displayed are extraordinary and are not typical and will vary from person to person. For more info read our [Earning Claims Disclosure]( About: Making money trading stocks takes time, dedication, and hard work. My goal is to teach you how I have succeeded in the market, but you may not achieve my results. Remember, there are risks involved with investing, including the potential loss of money. We are strongly committed to protecting your privacy and providing a safe & high-quality online experience for all of our visitors. We understand that you care about how the information you provide to us is used and shared. 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