Will Corporate Earnings Change Market Momentum?
As mentioned last night, with rate hike odds sitting below 10%, a hike today was highly unlikely. The primary market driver today was going to be corporate earnings reports posted after the closing bell.
The $SPDR S&P 500 ETF Trust(SPY)$ held the Central Daily Level (CDL) posted last night as firm support. Our 7,712 bull/bear level cleared the way for upside toward 7,746, which sat just three dollars above today’s close. Price action lacked strong conviction as the market had already priced in the Fed’s rate pause and shifted focus to earnings after the bell.
Throughout this earnings season, I provide fundamental research in downloadable one-pagers for all permanently tracked securities to paid subscribers. Those reports include multi-year trends in main financial numbers, bullish / bearish factors, economic MOAT, competitors, price targets and business triggers for bullish or bearish reactions.
The Permanently Tracked Watchlist covers: $ALPHAPOLIS CO LTD(APPLF)$ $Microsoft(MSFT)$ $Alphabet(GOOG)$ $Amazon.com(AMZN)$ $NVIDIA(NVDA)$ $Meta Platforms, Inc.(META)$ $Tesla Motors(TSLA)$ $SpaceX(SPCX)$ $Eli Lilly(LLY)$ $Wal-Mart(WMT)$ $Broadcom(AVGO)$ $Costco(COST)$ $JPMorgan Chase(JPM)$ $Exxon Mobil(XOM)$ $Palantir Technologies Inc.(PLTR)$ $Netflix(NFLX)$ $Visa(V)$ $Advanced Micro Devices(AMD)$
Our core watchlist focuses on high-volume mega-caps across diverse sectors to capitalize on market rotations. Concentrating solely on tech works during aggressive bull legs, but when sector rotations take hold, we see substantial moves like those in COST, WMT, V, XOM, and LLY, alongside the relative resilience displayed by JPM.
Markets are always moving - and sometimes, the best move is knowing what works for you.
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Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
