Exxon Mobile and Chevron Earnings | SPY Swing Trade

SPY ETF Chart 8.2.19

SPY ETF Chart 8.2.19

The SPY ETF has declined after two failed breakouts and appears ready to open lower into the 50 SMA.

Today's jobs report and further news about tariffs should create an opening push lower off the opening price. This price action set sup one of my favorite trades. A Saturation Play.

If price action opens lower, AND pushes lower, I will be looking for a spot to bid for a new swing trade long.

If price action opens lower, and the first push off the open is higher, I am letting the trade go.That means the selling is not "saturated."

When you create your game plan each morning it is critical you have the guts to say "this is exactly what I expect it happen."

If it does, great! Print money. Take every trade flawlessly and let the odds do the work.

If price action is different than your plan, let it go.

See? Trading is easy. 🙂

If you're trading is boom or bust, it's most likely because you lack confidence. Not because you don't know enough.

If you have an edge, and do the work, trust the process.

Pete

Jobs report should show solid but slower trend of hiring

A weaker than expected report with more sluggish hiring or weak average hourly earnings would boost expectations for Fed rate cuts, while a much stronger wages number could signal inflation and give investors pause on inflation expectations.

cnbc.com/2019/08/02/jobs-report

Is Exxon Stock A Buy Right Now? Here’s What Earnings, Stock Chart Show

Exxon Mobil (XOM) stock fell as crude oil prices plunged last year. After an uptrend earlier this year amid rising crude prices and big shale investments, the Dow Jones oil major has been on the downturn again in recent weeks.

Is Exxon stock a good buy? Take a look at Exxon earnings and the XOM stock chart.

investors.com/research/exxon-earnings

Chevron Earnings Preview: What CVX Stock Experts Expect

It’s time for a Chevron earnings preview as we prepare for the company to release results for the second quarter of 2019.

Starting off the preview is Wall Street expecting Chevron (NYSE:CVX) to report an average earnings per share of $1.81. The low earnings estimate from analysts is $1.42 per share and the high estimate is $2.22 per share.

investorplace.com/2019/08/chevron-earnings

Trump tariff salvo batters European stocks, sparks bond rally

LONDON (Reuters) – European stocks posted their biggest drop of 2019 on Friday and German bond yields hit record lows after U.S. President Donald Trump fired his latest trade war salvo at China, jolting markets and sparking a frenzied bid for safe-haven assets.

reuters.com/trump-tariff-batters-european-stocks

Pete Renzulli
 

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