EarningsBeats

it looks to me like the IWM's moving up again. So, I feel like momentum is picking back up again in the small caps.

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IWM small caps, I've said I, you know, over the longer term, I think they should be a part of your portfolio, just my opinion... IWM small caps

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IWM. So, small caps have actually done pretty well on a relative basis, making a new all-time high... IWM, look at this. We got lots of room to the upside in this long-term channel. So, I find that somewhat interesting.

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IWM we got three highs here with three lower PO readings. So we got negative divergence here. Loss of the 20-day failure to move back above here... So to me it looks like the Russell 2000 not much different than the NASDAQ and the S&P. They look like they're set up potentially fo

— EarningsBeats, at 23:31

be interesting to see if the iwm breaks out i think we have a better chance of sustaining that move to the upside

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Small cap IWM, we do have lower PPO. So, which is also the 20-day moving average, that could le

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I would think the IWM gets hit harder if the market does go down and it is because of the thought process that interest rate cuts will be pushed further down the road. I think that's more of a problem for the IWM and small caps.

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The Russell two thousand hit a ten percent drop this past week. The Russell two thousand small cap index is in correction territory.

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yesterday, when we gapped down and we started to rally, I bought some of the IWM and the QQQ, personally. That's what I got into.

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small caps, which have been outperforming on a relative basis, do look a little bit better still even with the gap down today in that it's holding its support

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IWM, still kind of uh trading sideways. We bounced off the 50-day moving average.

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I would stick with the IWM especially as long as it trades above its moving averages, uh I have no problem with it. Like the Dow, I actually think the small caps may be not performing quite as well as the Dow because we're not at an all-time high right now, but still in an uptren

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Right now, you can see being up 9%. I mean, we're close to having the highest January performance on record on the Russell 2000... The Russell 2000 has been on fire so far.

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The QQQ right now down 2.97%... NDX similar. We almost got back up to the early June all-time high. Almost looks a little bit like a cup.

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Look at the QQQ rolling back to the upside against the spider. That for the most part is because of the semiconductors.

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Apple loves the month of July. I'll talk about seasonality a little bit later, but Apple one of its best months, actually I think its best month is July and it got off to a really good start for the month of July.

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Apple has actually been one of the better stocks. Now, just recently it's taken a little bit of a hit... you can see just recently at about a four or five-month relative low to the S&P 500.

Google had been one of the best-performing stocks of the Mag 7, and you can see relative to their peers, they still remain strong, but the last 7 weeks or so, you can see even Google slipping relative to the S&P 500.

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Notice the PPO went negative, test the center line, and is now rolling back over. That's another technical negative in my opinion. the RSI on Google. Normally when you're trending higher, most of the time you tend to hold RSI 4050 in that range. Uh we lost it back in late March a

Amazon, over the last 2 months, falling relative to the S&P 500.

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Amazon continuing to strengthen, broken out, all-time high territory... There's your AD line setting new highs. And look at the relative strength, and look at broadline retail, by the way... Amazon is one of the leaders in the space.

all of that over the span of 10 days, just completely fell apart, and look at the relative strength falling back down close to a 52-week low. So, these are the type software stocks that you want to stay away from.

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Microsoft seems to be trading a little bit better, broke above the 20-day. It's been holding the 20-day.

look at the relative performance of Nvidia versus semiconductors. This is not where that semiconductor money is going. Look at Nvidia relative to the S&P 500, continuing to drop.

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We got NVIDIA's report this past week. Didn't really light a fire under the group. NVIDIA, in fact, pulled back after its report.

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Tesla uh strengthening back up above its moving averages. AD line just so-so, but the relative... relative strength was very weak about a month ago, but it is starting to strengthen again. Still got some work to do on Tesla, um but at least it is trying to uh with this latest mov

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Tesla, you can see just continues to test that declining 20-day moving average and fail. Uh and now going down setting another new low on Friday.

Meta Platforms, look at Meta relative to the S&P, down near 52-week low.

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Meta, the one of the weaker stocks in the Mag 7, gap down with earnings, trying to hold on to gap support down here, not looking great. PPO still just barely positive.

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there's another uh semiconductor, Broadcom, not doing so well.

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AD line right now near about a seven eight-month low. Looks like we're trending back down again. We just put in that low early February, went back at the 50-day, now rolling back over again. And check out the relative strength, not good.

some of the stocks that you want to stay away from, Oracle, I would say be careful with it

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Oracle reports earnings tomorrow after the close. So that's going to be a big uh item not just for software but for technology to in total.

— EarningsBeats, at 15:42

Applied materials, this is kind of the leader of the semi-equipment manufacturing companies... I think applied materials recently probably the best of the three. Uh, PO, never seen anything like it... 3-month rate of change, just hit the highest level ever. Same with the

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Applied Materials, of course, in that semiconductor space that also could be impacted by options. I think they'll have a great report come Thursday, probably great forecast, but sometimes everything's already built in. Some uh Applied Materials has had a huge run like many of

how about Advanced Micro Devices? Also growing quickly. Look at the relative strength of Advanced Micro. Um probably over the last 3 months, going up maybe about two and a half times in terms of its weighting within the S&P 500.

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AMD got an announcement uh I think Meta and AMD have a uh some kind of a joint venture. I just saw headline this morning. So, you can check that out with AMD bouncing as a result.

salesforce.com. Another one, look at the AD line, just kind of sideways. And then when you look at the price action going down, set a new 52-week low today, relative strength horrible.

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salesforce.com is in that software space. I don't see any major support, but I do like the group for at least a bounce. So, I don't know if this is going to be a leader for an extended period. Maybe we see a bounce out of CRM.

CrowdStrike, look at the AD lines. Every one of these stocks, look at the AD lines compared to what I just showed you, and then look at the relative strength down here. CrowdStrike relative to software, price action bouncing off the 20-day moving average. It's acting like a healt

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How about uh CrowdStrike? CrowdStrike. Look at that AD line taking off. Look at the beautiful action after earnings. Look at the relative strength. CrowdStrike.

I said going into the report, I thought that they would have a good report. Um I know they beat bottom line. I didn't look to see if they beat revenues, but this is a company that continues to show strength relative to its peers. So, it is a leading stock within the investment se

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I like what's going on with Goldman Sachs. I expect a good report. We don't know what kind of reaction we'll get, but based on what I'm seeing on the chart, I think Goldman Sachs is going to have a good report

Intel, Intel's absolutely just exploded. Intel's never seen anything like this. three-month rate of change, six-month rate of change, and one-year rate of change off the charts. Relative strength just started to turn back up again. I mean, Intel may have a lot more room to go.

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look at Intel, you know, with its earnings got crushed the other day because it didn't quite

JPMorgan pulling back, but I still like the banks going forward. I'm not giving up on the banks. I think the banks on a relative basis performed really well into the beginning of the year and I think we're going through a little period of consolidation. I wouldn't be surprised wi

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JP Morgan did beat slightly uh or actually if we exclude those one-time charges with the Apple Card, they beat uh earnings per share pretty handily. I would I want to say probably by about 8% from what I recall.

Adobe, I think if you're in it for the long term, I think you're okay. If you're in it for the short term, I mean, the AD line uh prior to uh Friday had gone back down near 52-week low. And look at the stock going into its earnings. Was sitting almost on a 52-week low relative to

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Boeing never made the breakout. I don't know this one I think is still more sideways consolidating. I'm probably not as big a fan there just yet.

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Coin, which has been kind of weak, bounced a little bit, now seems to be rolling back over again.

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energy stocks continue to be the leaders... this is one of the hottest areas of the market. I think you can stick with it, but I'd probably have some sort of a trailing stop in play.

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AD line recently went up, new high, moves up, comes down, tests that 20-day. We haven't seen as big of a bounce in DataDog as some of the others, but it it continues to trade above its 20-day. Relative strength good.

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for now I'm just watching.

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Home Depot as it gets closer and closer to the lows that we've seen over the past year, especially that April low of last year, we're getting very close to it if not already there. Um this is a support level that I would look to hold. So, Home Depot I think looks interesting

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IBM really starting to fall apart here. Um it might you might see, you know, move back up to the 20-day moving average from time to time, but this one seems to have started a downtrend. I'd be careful there.

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When I look at Micron and I look at the relative strength, first of all, I look at the AD line, incredibly strong. When I get the AD line going up with price action and I get it going up with relative strength and it's in a strong group, I only think bullish thoughts when it come

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Netflix, another pretty big one. You can see Netflix, look at this, just continues like a ski slope right now here on Netflix.

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Nike I would continue to stay away. I don't know what's going on here. This is a long-term downtrend... It's been an underperformer. There's probably a reason why maybe we see another gap down with earnings. I'd be careful there.

— EarningsBeats