SPX 4600 is an important level. It was a support level in December, but was broken so could now be resistance. If bulls can retake that, then they are back in the upchannel. But there is a declining tops line there also. Intraday chart to see finer detail.
The big positive ERs from last night, showing signs of resistance still in this market. GOOGL rejected at 3000, failed to make new high. AMD still below December's low even.
Yeah some ugly earnings after the bell for sure, the NASDAQ most likely will open in the red tomorrow morning
I did take some profits on some other stocks today but looks like I got too greedy on AMZN and possibly QCOM, let's see if I will still in profit tomorrow
Google Stock Split Triggers Dow Inclusion Bets, Amazon Speculation (msn.com) Probably would kick out either INTC, CSCO or IBM if GOOGL is joining the DOW, if GOOGL was trading in the $100s to $200s range then probably would have joined the DOW instead of CRM.
Top of the morning Stockaholics! Happy Thursday to all of you! And welcome to the new trading day and a frrrrrrrrrrrrrrrrresh start! Here is a quick check on those futures as we are about 3 and 1/2 hours from the cash market open. GLTA on this Thursday, February the 3rd, 2022.
Finally a little cooling off for the market. It tanked right after FB earnings in the AH yesterday. Almost felt all day yesterday like the market makers were just artificially propping it up so they could start the down move in the AH when less retail traders have access. The buying yesterday didn't feel as genuine as it did the past few days before it. Just my opinion. I do have one small lotto put on though SPY 442 exp 2/7. Might just take profits today, we'll see. With the jobs report tomorrow expected to be "weird" according to some white house previews of it, that could make for some downside tomorrow though too.
Morning Lineup - 2/3/22 - It Was Fun While it Lasted Thu, Feb 3, 2022 This earnings season, you could even say there are after-hours sessions where decades happen. Between earnings reports from Netflix (NFLX), PayPal (PYPL), and Meta Platforms (FB) last night, some very large market cap stocks have lost a fifth of their value overnight. These kinds of declines in reaction to one quarter's worth of corporate performance are not exactly normal market events, and in the case of FB, today's decline could be the largest single-day decline in market cap for a single stock in history! These are some unprecedented moves, and we're not even halfway through earnings season! We have a busy day of economic data ahead as well with Non-Farm Productivity, Unit Labor Costs, Jobless Claims, ISM Services, Durable Goods, and Factory Orders. Jobless Claims were already released and came in right around expectations while Non-Farm Productivity topped forecasts and Labor Costs were lower than expected. Following last month's weaker than expected ISM Services report, the headline index is expected to show further deceleration this morning but still come in at a healthy reading of around 60.0. Durable Goods and Factory Orders, meanwhile, are both expected to show declines of less than 1%. Yesterday looked like an encouraging day for the Nasdaq 100 as the index traded and closed back above its 200-DMA, but that's unlikely to last long as the index is expected to gap down more than 2% at the open this morning putting it back below its 200-DMA. Going back to 2000, today will likely be the Nasdaq 100 ETF's (QQQ) 106th downside gap of more than 2%. In the charts below, we show its performance from the open to close on the day of prior downside 2%+ gaps broken out by weekday along with the frequency of positive returns for each day of the week. Overall, the best day for QQQ to gap down 2% has been Wednesday as it has averaged a gain of 1.52% from the open to close with positive returns 54.5% of the time. Average intraday gains on Tuesday haven't been nearly as strong (0.42%), but QQQ has been more consistent to the upside with gains 60% of the time. Unfortunately, Thursdays haven't been a very good day for QQQ to gap down 2%+. On those 17 prior occurrences, QQQ's average performance from the open to close has been a decline of 0.02% with positive returns less than a third of the time.
The pre-market thread is now up on Reddit for anyone looking for a quick read before today's cash market open. GL to y'all's trading today and rest of this week! https://www.reddit.com/r/StockMarket/comments/sjjqw7/23_thursdays_premarket_stock_movers_news/
Well, ABBV actually broke out to new ATH from their earnings report. Something AAPL, GOOGL, AMD, etc. can't say. ABBV also has a 4% divi. Reading their ER press release is like watching a fucking TV commercial, they have so many drugs that you see advertised.
The best-performing social media stock recently? Probably DWAC. Man the stock market is funny sometimes.
Will SNAP be +40% after hours? edit: It did it. Probably will pull back some, but it touched $34.30 after closing at $24.50.
