Earning reports continue.....

We saw different reaction to many earnings report which came out last week.

Some good GOOG TWTR 

Some bad TSLA AMZN

Next week we have more earnings reports, some key ones for market and me are :

Tuesday AAPL

For me

Tuesday AMD

Thursday SQ

Market is getting ready to see what AAPL has in store.....

So far we have seen new or series of all time highs in S&P 500, Nasdaq, SOX & DOW

Big laggard is Russell 2000....which is 163,12 points away or 9.36% from making new all time high, it may happen with Q 3 earnings season....

RSI is elevated but not alarming, they are :

SOX               69.42

S&P 500        64.29

Nasdaq          64.21

DOW            61.13

RUT             58.06

As you can see SOX is the star performer here, which is a good thing.

Russell 2000 is inching up slowly to make the grade.

Earnings are hard to predict but it needs to be done individually based on your in-depth knowledge of  your stocks, rewards can be fast......

Some earnings reaction are extremely positive because it was not expected to be good or some metrics were better than expected....GOOG & TWTR meets those criteria.....

GOOG was clear winner so far as it beats estimates in all metrics by a mile, thus can be added to any portfolio with huge buyback of stock in play also......

SO...we wait for earnings few more weeks while Fed decides on .25% cut....which may be priced in by then.......

China US trade stalemate continues.....thus no help to market......

SO.....play your earnings trade wisely, take the money and run as markets are elevated and may be getting ready to go south sooner than later.

Good luck with your own comfort level and strategy!

BLOG does NOT give buy or sell.

Saleem

Posted in: Mixed