Earnings season kicks off at the end of this week. How the market reacts to the beginnings of bank earnings always has the potential to make or break the run into earnings in tech.
As of right now, the technical patterns in the Nasdaq and the majority of high beta tech remain strong. Multiple charts, including Microsoft, Google, and Amazon, all have daily squeezes and multiple lower timeframe squeezes.
Multi-timeframe squeezes are some of my favorite setups, just in and of themselves. But, combining those with a seasonal run into earnings, plus an extra macro economical boost, generally equals a very positive trend for the season.
Now, of course, there is that macro economic factor. Could CPI come in too high? Could the Fed throw us a curve ball? Could the market get some jitters due to earnings?
Of course, any of these outcomes are possibilities. But, no matter what comes, we’ll be trading it!
By Friday, earnings will be in focus.
Check out the upcoming earnings reports this week on my Earnings Top Trading Tickers below:
What are you looking at for earnings? I’ll be trading them in the Simpler Trading Options Gold Room!