9 Minute Read

Tackle Today: Get Ready for a Bank Bonanza

July 13, 2021

By | No Comments

Can financials take us higher?


Earnings season is upon us, and, as usual, banks are leading the charge. JPMorgan and Goldman Sachs are unveiling their numbers this morning. Many other heavy hitters will follow. So here’s the question circling investors’ minds: Will the financial sector get the party started with results worth celebrating?

At the risk of reading too much into Monday’s price action, those who were gobbling up financials certainly think so. XLF was the leading sector on the session, ending higher by 1%. The strength demanded we include XLF as the chart of the day.

If you’re unfamiliar with the history of bank stocks on earnings, allow me to bring you up to speed.

Banks are boring on earnings. Look at the price response to the last handful of reports on any major bank. YAWN. They rarely gap, and if they do, it’s typically a small percentage move. The lack of uncertainty or nervousness shows up in the implied volatility of JPM, GS, and others. Do you see any kind of ramp in the IV reading?


That tells me there’s no concern, which isn’t a bad thing! I think it reinforces my bias that the most likely outcome is minimal movement. And if we do see any fireworks, I’m hoping it’s to the upside, particularly after yesterday’s push.  


Chart of the Day

Financial Sector (XLF)

XLF is itching for an upside breakout over its prior pivot and the 50-day moving average. All we need are some buy-worthy results from the big banks report earnings this week. Make it happen Jamie Dimon.

Video of the Day

Onboarding With Coach Frank

Coach Frank does a wonderful job each Monday at walking new Traders through all of the features, products and tools that Tackle Trading has to offer. Check out last night’s onboarding session if you want to learn more about Tackle Trading. 

Today’s line up

Traders Lounge 11 AM EST

Join the coaches in this live lounge, ask questions, discuss ideas or just sit back and listen to veteran traders discuss market conditions.

The Coaches Show 8:30 PM EST

This is our weekly MasterMind group. Join the coaches tonight, 8:30pm EST to discuss the markets and help you prepare for the week.

Halftime Report 12:30 PM EST

The Halftime Report starts at 12:30 EST and covers what news is driving the market, chart analysis from the movers and shakers of the day and fun in a way that only Matt and Tim can deliver.

Tackle Trading: Financial Freedom is a Journey. Sign up now for a 15-day free trial.

Financial freedom is a journey

The Tackle Today series is brought to you by Tackle Trading.

Sign up now and gain unfettered access to all of the quality content and powerful Scouting Reports that our Pro Members enjoy for 15-days absolutely free with no strings attached and let us show you what your trading has been missing.

Sign up now for a 15-DAY FREE TRIAL #

Legal Disclaimer

Tackle Trading LLC (“Tackle Trading”) is providing this website and any related materials, including newsletters, blog posts, videos, social media postings and any other communications (collectively, the “Materials”) on an “as-is” basis. This means that although Tackle Trading strives to make the information accurate, thorough and current, neither Tackle Trading nor the author(s) of the Materials or the moderators guarantee or warrant the Materials or accept liability for any damage, loss or expense arising from the use of the Materials, whether based in tort, contract, or otherwise. Tackle Trading is providing the Materials for educational purposes only. We are not providing legal, accounting, or financial advisory services, and this is not a solicitation or recommendation to buy or sell any stocks, options, or other financial instruments or investments. Examples that address specific assets, stocks, options or other financial instrument transactions are for illustrative purposes only and are not intended to represent specific trades or transactions that we have conducted. In fact, for the purpose of illustration, we may use examples that are different from or contrary to transactions we have conducted or positions we hold. Furthermore, this website and any information or training herein are not intended as a solicitation for any future relationship, business or otherwise, between the users and the moderators. No express or implied warranties are being made with respect to these services and products. By using the Materials, each user agrees to indemnify and hold Tackle Trading harmless from all losses, expenses and costs, including reasonable attorneys’ fees, arising out of or resulting from user’s use of the Materials. In no event shall Tackle Trading or the author(s) or moderators be liable for any direct, special, consequential or incidental damages arising out of or related to the Materials. If this limitation on damages is not enforceable in some states, the total amount of Tackle Trading’s liability to the user or others shall not exceed the amount paid by the user for such Materials.

All investing and trading in the securities market involves a high degree of risk. Any decisions to place trades in the financial markets, including trading in stocks, options or other financial instruments, is a personal decision that should only be made after conducting thorough independent research, including a personal risk and financial assessment, and prior consultation with the user’s investment, legal, tax and accounting advisers, to determine whether such trading or investment is appropriate for that user.

Chart Modal

Tackle Trading

Let us help you start trading!

Our Pro Membership gives you the tools to tackle all your trading obstacles.

Register for the Options Success Training Cours & Get the First 15 Days on Us

Book a FREE Consultation

Sign up for a free consultation to build your Educational Plan.