Arete Trading Weekly Report

Earnings Season is in Full Effect!🚀📈

Earnings season is in full effect. Several companies have already reported and done exceptionally well such as ENPH and MSFT. Others were not so fortunate TWTR sold down 10% and TWLO earnings release has the stock down over 16% this evening. With that said there are still some big earnings due out this week. For example SHOP is tomorrow morning and AAPL is tomorrow night. Both companies can move the indexes and respective sectors. The bright spot in earnings has been software. The worst sector has been social media. SNAP , FB and TWTR have all been awful showing slowing growth. On top of this PayPal was in talks to buy Pinterest but pulled the offer after SNAP earnings. While we don’t know the exact reason it must have had a factor. The Indexes have had a large move higher since our last newsletter a week ago. Today the worst performing index was the IWM. Small caps came in hard. This was a surprise considering their underperformance on the year. I would watch the 221 level on this index. If we break the 200 day moving average it could accelerate to the down side. The SPY and QQQ look really good even though momentum has stalled. We had a solid move higher and some rest is not the worst idea. Both look to be forming cup and handles which is excellent and could lead us into a rally until the end of the year. Key Levels are marked below. Please note the stop losses since a lot of them have been raised.

Lets Look at Our Indexes !

Let’s Look at Our Stocks !

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