here is a quick preview of next week's notable earnings releases courtesy of reddit's wallstreetbets: have yourself a terrific weekend ahead guys!
I don't chase pops. Been burned too many times. If I had chased that pop, it would have been a couple thousand profit though...at the time, I couldn't find any news.
Top of the morning StonkForumers! Happy Friday to all of you and welcome to the final trading day of the week and a frrrrrrrrrrrresh start. Here is a quick check on those futures as we are under an hour into the US cash market open. GLTA on this Friday, April the 19th, 2024!
Morning Lineup -- 4/19/24 Fri, Apr 19, 2024 The S&P 500 has formed a downtrend that is clear as day over the last three weeks, as shown in the 15-day intraday chart of the index below: As we noted in last night's Closer, the S&P 500 ETF (SPY) has opened higher and then closed down from that opening level for four straight trading days. This is a reversal from the intraday strength that we generally saw during the slow-and-steady rally seen from last October through March. This morning, at least, it looks like SPY is set to open lower, and bulls will be looking for that gap down to be bought. We discussed the Israel/Iran conflict in more detail in this morning's Commentary, but notably, oil prices have pulled back significantly after an initial spike on news that Israel was indeed retaliating against Iran last night. Oil popped 4% on the news last night, but it's down 5% from those levels and now trading lower on the day. You can see this action in the candlestick chart of oil below. For now, oil's 50-day moving average has still not been breached.
Here is a final look at today's market and futures maps, as well as how each sector performed individually at the close on Friday, April 19th, 2024.
Wow NVDA down 9% lol, the big cap tech earnings better deliver next week or we might see a 10% correction finally