Last week’s political and financial shenanigans in the UK coupled with unusual volatility in US equities made for challenging trading conditions, writes Ian Murphy of

As earnings come into focus this week those dramas might take a backseat, but I wouldn’t bet on it.

Source: Earnings Whispers

The number of reports hitting the wire will ramp up from today onwards with announcements reaching their zenith at the beginning of November. The impact of rising interest rates on the bottom line and forward guidance will be where all the attention rests.

"Tabula in naufragio" is a legal phrase that translates from Latin as "a plank in a shipwreck". It refers to a situation where everything has failed except one thing, saving you from drowning. I was reminded of the tabula in the midst of last week’s volatility because Halozyme Therapy, Inc. (HALO), a stock that we reviewed in this month’s webinar, performed exceptionally well and finished up 9.7% on Friday from the trigger on Sept 28 (arrow).

On Friday we looked at 50% retrace levels on the S&P 500 (SPX) applying the same levels to ProShares Ultra S&P500 2x Shares (SSO) and Micro E-minis for the Help Strategy we notice this level is exactly where Friday’s selloff stopped. These dashed lines will need to hold as support today and tomorrow if we are going to have a Help trigger this week. If US equities have a positive day today, it’s likely we will trigger.

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