Equities lost ground last week, as earnings reports from major US banks and other large US companies didn’t inspire a lot of confidence. This week sees some of the FAANG companies report – with Facebook, Amazon and Alphabet in the lineup of earnings reports. Bellwether Caterpillar also reports so the forward guidance from these companies will shape expectations for the global economic outlook in the second half of 2019.
We like shorting through the continuation levels today, during the US cash session.