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A month ago, concerns about the Federal Reserve's impact on the banking system dominated financial markets. However, recent earnings from large banks like PNC Financial, JPMorgan, Wells Fargo, and Citi indicate that the swift actions by the FDIC and Federal Reserve have prevented broader damage. JPMorgan's strong results and raised guidance for net interest income boosted market confidence. Other banks reported less impressive but reassuring results, indicating stable credit quality and healthy net interest margins. This solid foundation for financials may support further market growth. This week we are going with a neutral double diagonal on CrowdStrike Holdings (CRWD) and a bull call spread on American Express (AXP). Read More

Last week bullish market sentiment rebounded 10.8% points to 33.3% based on the latest AAII (American Association of Individual Investors) survey. The jump was the largest seen since June of last year. Bearish sentiment fell to 35%, narrowing the bull-bear spread to -1.7 points. What this means for the foreseeable future is anyone's guess, but the increase in bullish sentiment is a welcome sign. This week we are going with a neutral double diagonal on Salesforce (CRM) and a bull call spread on Humana (HUM). Read More

The end of March concluded the first quarter of 2023, and so far, the year is shaping up to be profitable. The S&P 500 ETF (SPY) gained 7.46%, but the Dow 30 ETF (DIA) only gained 0.91%. The big winner was the Nasdaq 100 ETF (QQQ), with a gain of 20.71% for the quarter. This week we are going with a neutral double diagonal on The Home Depot (HD), and a bull call spread on Merck & Co. (MRK). Read More