Actionable news
0
All posts from Actionable news
Actionable news in AAPL: Apple Inc.,

Scott Redler: 6 Charts You Need to See Before Earnings Season

Is the SPX going over 2500?

Or under 2400?

Tech may be the deciding factor, as I discussed on CNBC’s Fast Money yesterday:

Earning season kicks off Friday with numbers from JP Morgan (JPM) and Wells Fargo (WFC), but tech may really be the deciding factor.

So let’s through 6 key charts so you can understand where the market may be going:

SPX

The S&P held critical upper support outlined at 2400 while tech was in a correction phase.

Recently, both have bounced.

The question now is can the reaction to big cap tech earnings push SPX through 2453 on its way to 2500+?

And I say “the reaction” for a reason. The numbers themselves aren’t as important as how the market treats them.

QQQ

The QQQ’s put a top in on June 9 and since pulled back 5.6% to $135.80 before getting a little bounce.

There’s a battle of 2 patterns here — the double bottom at $135.80 vs. the head & shoulders top that has a measured move towards $132.

The key spot that determines the move could be the 50 day at $139ish — does it get reclaimed or rejected?

A streaming video giant may hold the answer:

Netflix (NFLX)

NFLX reports on Monday, July 17, making it the first big...


More