I wanted to shoot you a little update on some market trends and news that caught my eye. Keep in mind these are subject to change every day. The financial markets are very over-reactive. Any slight news can destroy the thoughts here.
Whew, what a crazy week of big-tech earnings. Looking back, it seems as if it was very mixed. Amazon with monster earnings, as expected, help throttle SPY and QQQ to end higher. Some commodities like oil are rising at a big rate, due to political turmoil.
All of this coming after SNAP had it’s first quarter profit ever, and Facebook acting as if it’s an alt-coin losing 50% of it’s market cap. What a crazy week to be out of the office. This isn’t even touching the Spotify turmoil.
With another big earnings week ahead, the Labor Department is also expected to report consumer prices rose by 0.5%. Inflation still isn’t transitory. It never was. The expected number is 7.3% inflation.
Following most of the big tech earnings last week, here are earnings on tap this week:
Disney - Wednesday
Pfizer - Tuesday
CVS - Tuesday
Twitter - Thursday
Pepsi - Thursday
Coke - Thursday
Peloton - Thursday
Let’s also watch the rumors swirling around that both Nike and Amazon are interest in acquiring Peloton.
Amazon earnings pulled the entire market green, even crypto. Bitcoin spiked to 43k and is sitting around 40k. If you are bullish for crypto, this is a very good sign. Millions of shorts were liquidated on this pump higher.
Oscillators coming back, I have started back accumulating as I am confident in these levels with Bitcoin and Ethereum.
There are a few new alt coin positions I am looking to get in. I will do research and update you all next week.
Have a good week and let’s make some money.
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