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The Big Tech Earnings Rush Is Nearly Upon Us, and Retail Sales Retail sales numbers for September are out in the premarket today. Let's jump in and see how the markets are reacting. Come join me as we dive in and see what is moving! Plus, as always, we have stocks popping and dropping so come find out what is moving this morning as I look for stocks and do some live premarket analysis on SPX, SPY, NDX, QQQ, Russell, IWM and other stocks that are potential plays for the day. — — — The Big Tech Earnings Rush Is Nearly Upon Us As we shift our focus from the Financial sector into Big Tech, it's time to get prepared for what could be a significant market move. We’re entering the meat of the final earnings season of 2024, and while financials are still rolling in, the spotlight is about to shine on the tech giants. Netflix (NFLX) is the first big name to kick things off, reporting after the close Thursday. Now, Netflix has always been a bit tricky — it’s technically not part of the Magnificent 7, which includes Microsoft (MSFT), Amazon (AMZN), Meta Platforms (META), Apple (AAPL), Nvidia (NVDA), Google parent Alphabet, and Tesla (TSLA). But I still keep a close eye on it because it used to be a part of the original FAANG stocks group… And let’s be real, it pushes a lot of volume. After Netflix, things heat up as the big boys start rolling in. Tesla, Amazon, Microsoft, Google, and Apple — the bulk of market cap in the entire tech sector — are all set to report by the end of October. This is where we could see some serious moves in the Nasdaq. As I’ve explained in this newsletter recently, here’s the pattern we typically see… Money flows into financials first as their earnings come out. And once the dust settles, that money flows into Big Tech. It doesn’t necessarily mean we’ll see financials pull back immediately, but we’ve seen this rotation enough times to know it’s coming. Financials get their moment, then tech takes over. The next few weeks are critical because these tech companies dominate the market in terms of both influence and market cap — we’re talking about half of the entire Nasdaq 100 (QQQ) in just a few names. And we’ve got some solid targets to watch for, particularly in the Nasdaq itself. I’ve been calling for the 21,500 target level in the Nasdaq for a while now — it’s currently at 18,338 as I write this — and I’m not convinced we’re doing anything else major until we hit it. The key is to stay cautious, but not bearish or bullish just for the sake of it. We still have room to move up, and if you’ve been following the show, you know I’m eyeing the potential for a consolidation period before a breakout. So, as we head into Big Tech earnings, buckle up... This rotation is typical, and if history is any guide, we’ll see money flow out of financials and into tech in the coming weeks. Stay sharp, keep an eye on those big names, and be ready to take advantage of the opportunities this shift could present. Today’s Daily Chart Setup: Lakeland Financial (LKFN) This idea came directly from my Daily Chart Setup that automatically signals potential plays.
This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk. Always remember that past performance is not indicative of future results. You can find full details on exactly how this works by scrolling down further in this newsletter. Now be sure to join me live at 9:15 a.m. ET for “Morning Monster,” my market-open livestream on YouTube! Wall Street Keeps Making This BIG Mistake… And nobody in the financial media seems to be talking about it. I'm Jeffry Turnmire… and for the past 16 months, I've been exploiting a bizarre pricing error that keeps happening on one overlooked ticker. Here’s the gist… Wall Street's algorithms are consistently mispricing this stock's options… Like clockwork, this happens 20-30 days before expiration, EVERY SINGLE TIME! And because this seems to happen more often than not allowed me to issue 84 trade alerts without a single loss. Without using any fancy algorithm or AI system… All I needed was a regular brokerage account. On average, this “Income Glitch” targets $2,156 in extra income each month from a $10K starting stake. Now, as a trader, I know how important it is to double down on something when it’s coming, even though I doubt Wall Street will ever realize this mistake keeps happening… I can never be too certain. And while I cannot promise future returns or against losses, on Friday I’m holding a workshop to show you exactly how I’ve been doing this for the past 16 months, and have you look over my shoulder to see how you can start using this “Income Glitch” with us! *The profits and performance shown are not typical, we make no future earnings claims, and you may lose money. From 6/28/22 to 10/10/24 the win rate is 100% over 84 published alerts *(see footnote). The average return is 7.25% with an average hold of 13 days. Annualized the return on options is 233.63% per year without compounding. How the Daily Chart Setup Works Here’s a more detailed description of how the pattern triggers: 1. The price breaks upward through the orange Market Roadmap Line. 2. Then the price goes up and down while staying above the line. Eventually, it comes down to touch the line again — this could take days, weeks or even months. 3. Once it touches the line and starts moving back up, that signals an entry. I use Fibonacci levels for for profit targets and stop losses, and these two tools combined have helped me achieve a 77% win rate over the past six-plus years! You can grab my Market Roadmap Indicator here for just $5 — less than a cup of coffee at most places! Jeffry Turnmire Jeffry Turnmire Trading I host my “Morning Monster” livestream at 9:15 a.m. ET each weekday on YouTube, and then “30 Minutes of Awesome” at 5 p.m. ET each Tuesday! Please check out my channel and hit that Subscribe button! I’m just a regular dude in Knoxville, Tennessee: a husband, father, civil engineer, urban farmer, maker and trader. I've been at this trading thing with real money for 20-plus years, and started paper trading over 35 years ago. I have a knack for making some epic predictions that just may very well come true. Why share them? Because I like helping other people — it's the Eagle Scout in me. *This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk. |
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