Big Next Two Weeks of Earnings
The next two weeks have nearly all the names on my watchlist reporting. The market has been consolidating for weeks in anticipation and has lost momentum. Tuesday will set the tone with MSFT GOOG reporting, followed by META Wednesday, and AMZN Thursday. Many other names report and I think it is worthwhile to go through the next two weeks reporting dates. I don’t have much actionable short term so look forward to getting these reports out of the way, finding new opportunities, and getting into a new 3-month trading window.
QQQ Weekly-Four straight weeks of consolidation between 313x321.50. We could break either direction. Play it as it lies.
IWM Weekly-Nothing changed here. Six weeks of chop follow a major distribution bar. Seems like will have a lot of work to do if it can take out 180 and very vulnerable if we lose 170.
SMH-We broke the 50SMA and this rising trendline this past week with very weak action out of TSM. Semis have led every move so if it drifted I will watch the magic line and a new base to build. If they “flushed” it that would be more concerning. A big tell for me.
NASI-This went red Friday. If we confirm with a close below the 10EMA (blue) that would be confirmation to me that we may have chop/headwinds. We will see if it confirms or not. Still moving up as of now.
AAPL Weekly-Losing momentum into channel resistance. Reports May 4th. Will re-visit after that.
MSFT Weekly-Three weeks of rest at this resistance highlighted weeks ago. Reporting Tuesday. Through 292 should open up a new range high. Below 282/281.50 and will be patient for it to re-set.
NVDA Weekly-Four weeks of rest. Has ridden the 5 week/20EMA (daily) this entire run higher and continues to hold it on dips. Through 280 could push higher. Under the 20EMA and may need a re-set to 50SMA. 280x260 consolidation currently.
AMZN Weekly-Breaking out of this descending wedge and through the $104 level. Now into the 50 Week, which has been a very respected moving average seen by the arrows. Earnings Tuesday should reject or push through this 50 Week. I like how it has a nice base here similar to how it had a base in December 2021 leading to the break of the 50 Week. I dislike how it has lagged other big tech names. Lets see what happens, use this as a reference, and take it from there.
DKNG-Powering higher through the big 21.50 level from the weekly bottoming pattern since breaking out at $19.50. Looks good as long as rides the moving averages. Just need to find opportunities like this!
ONON-Closing at new relative highs Friday. As long as holds $31 looking for this to head higher. Respecting the 20EMA with the 10 day starting to curl up nicely.
IOT-Continuing to trend higher. Think the 20EMA is the moving average for now unless it starts to respect something else over the next few weeks. Looks good.
DUOL-Through $142.50 could get momentum. Earnings May 9th so if doesn’t move quickly likely continues to consolidate.
ISRG-Watching how this post-EPS pattern builds. Looking for moving averages to support price as they catch up. Medical is catching attention with SWAV TMDX etc.
STNE-Consolidating after big volume off the lows as it builds a cup n handle. Worth reviewing.
FSLR-The CitiGroup Friday afternoon downgrade was funny. Wall St at its finest. ENPH reports Tuesday with FSLR to follow on Thursday. Expect the ENPH report to move it. Like this base though and had a strong reaction to the last report.
TSLA Weekly-At the low end of the 160x215 box. This looks similar to September 2022 box to me. If markets were to weaken this is my go-to short stock. Would like it to rally up into the moving averages and consolidate more. Alerts set at the 10/20EMAs. Would pass if just dropped 160.
NFLX-Watching the reaction to the descending 10/20EMA here to start the week. $331 is R1 and right around those EMAs so a spot I will be watching.
ROKU-Started noticing very poor action in many beat up growth names last week. An example below. This thing smells like low tide with earnings coming Wednesday before the open. If these really start falling apart I want to see how/if the market is effected. TWLO ETSY two other beat up on the lows.
