Earnings season is upon us and it started last week with Financials but tech companies are taking center stage now. Netflix earnings report had the worst loss of subscribers in the companies history . It was not as bad as the 2 million subscribers predicted. The stock rebounded on the day and held its ground. This helped show that the consumer is not as in as bad of shape as first thought. The upside was the rally in XLY. Consumer Discretionary stocks are rallying for the first time in months. AMZN WMT to name a few are starting to see massive inflows as well have constructive chart development. Telsa’s earnings this evening beat by 10% to the upside but missed on the revenue side. Its possible that a strong dollar accounted for the revenue shortfall. It accounted for Netflix revenue decrease so its possible we see this issue in large global conglomerates. While deliveries and shipments were in line the important point is that they are increasing earnings. This was a concern as Elon stated Austin and Berlin are bleeding cash. Next week is a huge earnings week with META GOOGL AAPL all reporting next week. To add to the drama of the week the fed will meet and decide how much to hike interest rates. Most likely outcome is a 75 basis point hike. Technically this is the best shape the indexes have looked all year. All three major indexes are above the 50 day moving average with the 21 day SMA curling up. Bad news such as the high CPI of 9.1% is being shrugged off as the peak. When Bad news is discounted so severely that we stop selling down, its an indication that that sellers are tired and that provides opportunity. Its too early to a call a bottom but we can say for sure that this recent rally does have the possibility of more behind it. Watch the video below where I walk through the key levels on the indexes and what level to buy and sell TESLA as well as three other names. Let’s get to it!
📈TESLA/NETFLIX EARNINGS MOVE MARKETS
📈TESLA/NETFLIX EARNINGS MOVE MARKETS
📈TESLA/NETFLIX EARNINGS MOVE MARKETS
Earnings season is upon us and it started last week with Financials but tech companies are taking center stage now. Netflix earnings report had the worst loss of subscribers in the companies history . It was not as bad as the 2 million subscribers predicted. The stock rebounded on the day and held its ground. This helped show that the consumer is not as in as bad of shape as first thought. The upside was the rally in XLY. Consumer Discretionary stocks are rallying for the first time in months. AMZN WMT to name a few are starting to see massive inflows as well have constructive chart development. Telsa’s earnings this evening beat by 10% to the upside but missed on the revenue side. Its possible that a strong dollar accounted for the revenue shortfall. It accounted for Netflix revenue decrease so its possible we see this issue in large global conglomerates. While deliveries and shipments were in line the important point is that they are increasing earnings. This was a concern as Elon stated Austin and Berlin are bleeding cash. Next week is a huge earnings week with META GOOGL AAPL all reporting next week. To add to the drama of the week the fed will meet and decide how much to hike interest rates. Most likely outcome is a 75 basis point hike. Technically this is the best shape the indexes have looked all year. All three major indexes are above the 50 day moving average with the 21 day SMA curling up. Bad news such as the high CPI of 9.1% is being shrugged off as the peak. When Bad news is discounted so severely that we stop selling down, its an indication that that sellers are tired and that provides opportunity. Its too early to a call a bottom but we can say for sure that this recent rally does have the possibility of more behind it. Watch the video below where I walk through the key levels on the indexes and what level to buy and sell TESLA as well as three other names. Let’s get to it!