ESGY - Bulls Regain Control Of The Market As Fed Taper Looms

October, 18 2021 04:20 AM American Century Sustainable Growth ETF

While the market started the week a bit sloppily, the bulls charged back on Thursday as earnings season officially got underway.
With the market crossing above significant resistance at the 50-DMA and turning both seasonal “buy signals” confirmed, it appears a push for previous highs is possible.
Two factors are driving the rebound. First, earnings so far are coming in above estimates. Secondly, bond yields declined.
Technically,if the current rally is going to push back to all-time highs, the market’sunderlying strength must begin to improve markedly over the next couple ofweeks. If not, the current rally will likely fail sooner than later.

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Company Name:	American Century Sustainable Growth ETF
Stock Symbol:	ESGY
Market:	NYSE