Companies often statistically make large moves prior to earnings, and in this bear market, those moves are more than likely to be to the downside. Let’s analyze two tickers with a statistically high shot of trading lower prior to earnings — Roku and Shopify. I’ll show you how I use the Earnings HotZone to determine pre-earnings trades and more.
The S&P is stuck at 3900, and the Nasdaq futures are stuck around 12,000, both critical key psychological values. Staying above these zones, with some relative strength from previous market leaders, could send us the next leg higher. But, a break below this zone just leads to the next leg lower. While I think there is some short-term opportunity in TSLA, AMZN, MSFT, and GOOGL, there are many more stocks on my pre-earnings momentum list, including SHOP, SPOT, MTCH, ROKU, and more. Check out those setups and more in this video.
AMZN has been bouncing smartly since putting in lows at the Voodoo Lines fireline. Today it ran into trouble holding Fibonacci and Voodoo Lines levels which it needs to recover if bulls can continue pushing this name higher.
Right now it appears all clear for this week’s volatility as most likely Wednesday. During the mid week update we will then start preparing for end of month and making our way into July.
There are a few things that I like the looks of such as Coffee, OJ, Copper, etc… Additionally, I’d like to lay out a potential path for the Equities going forward, complete with a reason for why.
Nothing has changed, but the bounce has room as the crowded put trade gets wrecked. Let’s review what we talked about last week to see if there’s more gas in the tank.
Let’s do what we do every Friday, and review the core markets and the periphery to see how things are aligned into next week.
In this video, I share my point of view on rallying into July and I also discuss gold going lower to take out the previous lows.
