July 24, 2026
Hey traders,
Money Show – Las Vegas
I was out at the Money Show in Las Vegas this week, and it was an absolute blast connecting with so many of you in person. One of the highlights was my book signing for The Ultimate Kids’ Stock Market Adventure Workbook. Talking to so many of you who want to share your love of the markets with those younger than you was inspiring. If you missed it, check out the Amazon link to my book!
I also spent a lot of time on the floor and in sessions walking through my Five Star criteria, and my Masterclass based on my new book, where I taught my 10 Steps to Trading Options. This is the exact framework I use to filter high-probability options trades around earnings and technical structure. The conversations were sharp, the energy was high, and I’m already looking forward to the next one.
Now, back to the markets.
The Nasdaq Break
The Nasdaq is continuing to break down. Google, Tesla, and Intel have been major negative catalysts, and the message from those reports was loud and clear: expectations are simply too high. The bearish shift in the Nasdaq pattern was cemented by earnings. What started as a few soft prints has turned into a broader rejection of elevated valuations and aggressive growth assumptions. We’re seeing lower highs, failed breakouts, and a clear loss of momentum. Until we get a meaningful reset in those expectations, the path of least resistance remains lower.
Today, I started a short position in SMH, as the semis and memory stocks continue breaking down on high volume and momentum. With many critical earnings reports next week, it’s likely we see continued downside if this season’s earnings pattern remains intact. That pattern is the tried-and-true stock market pattern we all know and love (or hate) – “Buy the rumor, sell the news!”
Next Week’s Earnings Calendar (July 27–31)
Here’s the key watchlist I’m tracking (BMO = before the open, AMC = after the close). Full options expected-move data remains available on optionsearnings.com.
Here’s my custom earnings calendar. The most important day will be next Wednesday, with heavy hitters including Microsoft, Meta, Lam Research, Arm, and Qualcomm all after the bell on Wednesday. Unfortunately, none of these companies look particularly ready to lift the Nasdaq.
Thursday looks a little better, with Apple and Amazon after the bell. However, Apple can’t hold up the Nasdaq all by itself.
Highlights & Takeaways
Next week is packed with heavyweights—Microsoft, Meta, Apple, Amazon, Visa, and Mastercard —but I don’t see any major bullish earnings catalysts in the group. After the recent disappointments from Google, Tesla, and Intel, the bar remains high, and the market is braced for disappointment after a lack of bullish post-earnings moves thus far. Soft guidance or even in-line prints that fail to expand the narrative could easily fuel more downside. I’m treating this as a week for selective premium selling on names with rich implied moves and clear technical resistance, while staying patient on the long side until volume and momentum start coming back in. This usually comes when the put/call ratio spikes along with the VIX, but we haven’t seen this yet.
Stay sharp, manage risk, and trade the Five Star Setup.
