Earnings season kicks off next week with the big banks and semiconductors reporting. The Nasdaq and S&P just made new all-time highs, pulled back, and buyers stepped right back in. I’m walking through $JPM, $GS, $ASML and $TSM and how I’m positioning to the long side.
The S&P 500 and Nasdaq just made new all-time highs, and two down days don’t change my bias. We’re in a positive gamma environment where dips get bought, and the call wall moved up to $7,900 right through the pullback. I also walk through Micron, Microsoft, Palo Alto Networks, and why oil looks great but I’m still not buying it.
The indexes left an island reversal up top today, but MU put in a very impressive candle in the memory space, and that tug of war could mean a couple of days of two-sided action. I also walk through XOM and Wayfair as runs into earnings, plus whether AAPL can hold $330 into Friday.
The S&P 500 gapped to new all-time highs and held it all day, but from the open to the close it moved only 10 points. I call these professional days, and I explain what they mean for where we go next. Then I step back to the bigger charts on the Nasdaq, Micron, Tesla, Meta and Microsoft.
Nasdaq futures hit new all-time highs today after multiple squeezes fired, and the semis are leading the way. I walk through NVDA, TSM, AMD, ARM and MRVL, plus where I took profits today. I also cover two high short float names reporting soon from my free earnings calendar.