It's earnings season and NDX (QQQ) is posting the same pattern as last July. At this point, I think it's all about earnings with rate cut already being factored in.
Lots of big names reporting this week:
- Today AMC - TXN, V
- Wed BMO - BA, UPS, CAT
- Wed AMC - FB, PYPL, TSLA, F, XLNX
- Thu BMO - 3M (tanked hard last quarter)
- Thu AMC - AMZN, GOOGL, INTC, SBUX
Expect some whipsaw here at the top. Keep in mind that FB tanked the market last year, may not happen again.
Lots of big names reporting this week:
- Today AMC - TXN, V
- Wed BMO - BA, UPS, CAT
- Wed AMC - FB, PYPL, TSLA, F, XLNX
- Thu BMO - 3M (tanked hard last quarter)
- Thu AMC - AMZN, GOOGL, INTC, SBUX
Expect some whipsaw here at the top. Keep in mind that FB tanked the market last year, may not happen again.
Comment:
Note: FAANG stocks look weak ahead of earnings, I bet NFLX tank has scared a lot of people from betting on earnings.
Comment:
I think TXN earnings and guidance tonight will have a huge impact on NDX tomorrow, especially chip sector. Keep an eye on it AH tonight.
Comment:
LOL, exact same pattern as last year including the small gap down and full on pumptardedness throughout the day.
Last year FB tanked close to 20% on earnings, can't expect the same to happen this year. I assume it's probably gonna gap up 3 - 4%, so I expect a small gap up tomorrow and reversal because any gap up into a new high tends to sell off.
If it does gap down tomorrow then expect the same pattern...
Last year FB tanked close to 20% on earnings, can't expect the same to happen this year. I assume it's probably gonna gap up 3 - 4%, so I expect a small gap up tomorrow and reversal because any gap up into a new high tends to sell off.
If it does gap down tomorrow then expect the same pattern...
Comment:
Amazing, algos do the same thing every year.
Despite the fact that FB didn't crash this year, the market managed to give up all of yesterday's gain anyways. If the pattern stays true, expect a gap up tomorrow then tank. AMZN always gives up it's gains when it gaps up on earnings.
This time around, I expect the gap to be small like FB because of the antitrust thing.
Despite the fact that FB didn't crash this year, the market managed to give up all of yesterday's gain anyways. If the pattern stays true, expect a gap up tomorrow then tank. AMZN always gives up it's gains when it gaps up on earnings.
This time around, I expect the gap to be small like FB because of the antitrust thing.