Thursday, October 24, 2024

Will AAPL, AMZN Deliver With Big Tech Earnings Set to Rock the Market?

And Tesla’s Bullish Surprise!
 
   
     

Will AAPL, AMZN Deliver With Big Tech Earnings Set to Rock the Market, and Tesla’s Bullish Surprise
 
 
TSLA earnings were among the most bullish and surprising in years. Flash services and manufacturing PMI numbers drop just after the open today. 

Come join me as we dive in and see what’s moving! 

Plus, as always, we have stocks popping and dropping so come find out what is moving this morning as I look for stocks and do some live premarket analysis on SPX, SPY, NDX, QQQ, Russell, IWM and other stocks that are potential plays for the day. 

 
— — — 

Will Apple, Amazon Deliver With Big Tech Earnings Set to Rock the Market? 

As we head into another exciting earnings season, all eyes are on the Big Tech players... 

Apple, Amazon, Meta, Microsoft and Google parent Alphabet are all set to release their earnings reports next week, and let me tell you… 

Things are about to get spicy. 

These companies represent a MASSIVE chunk of market cap, so their reports could set the tone for all of Wall Street for weeks to come.

But let’s not just focus on the fact that they’re reporting. It’s important to understand the broader context of where we are right now. We’ve had a volatile year, with concerns around interest rates, inflation and geopolitical tensions dominating the narrative. 

We’ve seen moments of strength, but it feels like we’re at a tipping point.

Now, volatility doesn’t just mean a drop — it means big moves, both up and down. With earnings reports like these, we’re likely to see price swings, especially if there are any surprises in forward guidance. 

Historically, earnings season can bring sharp reactions, particularly for tech giants like Apple and Amazon, whose results can send ripple effects through the market.

Let’s start with Apple (AAPL). 

The company has been battling supply chain issues and softer demand for its flagship products like the iPhone 16, so the question on everyone’s mind is: Will Apple meet expectations, or are we in for a downside surprise? 

Even a slight miss could trigger a sell-off, especially given Apple’s enormous weight in the S&P 500 and Nasdaq. 

Amazon (AMZN) is another major player to watch. 

The company’s cloud business, AWS, has been the crown jewel. But with global economic uncertainty, investors are keen to see how consumer spending is holding up. E-commerce has been resilient, but inflationary pressures could weigh on margins — and that’s something that could make or break the stock’s reaction.

Don’t forget about Microsoft (MSFT) and Google parent Alphabet (GOOG; GOOGL). 
Microsoft’s cloud business and its AI ventures will likely be under scrutiny, while Alphabet’s ad business — which has seen some headwinds — will give us a read on the broader advertising market.

We’re walking into a potential storm of volatility — with earnings, GDP data and the PCE report all crammed into the next few weeks. 

And with the Federal Reserve’s FOMC meeting right after the election, the stage is set for some serious market moves. Whether this triggers a rally or a sell-off remains to be seen, but one thing’s for sure…

Traders need to be ready for anything.

Make sure your seatbelt’s fastened — it’s going to be a wild ride.


Today’s Daily Chart Setup: Take-Two Interactive (TTWO)  
 
 
This idea came directly from my Daily Chart Setup that automatically signals potential plays. 
 
TTWO is a new potential entry. Target: 165.33 Stop below: 145.76
TTWO has a historical win rate of 85.71%
TTWO has a profit factor of 0.606
TTWO trades last 27 trading days on average over 28 trades since 1997.

This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk. Always remember that past performance is not indicative of future results.

You can find full details on exactly how this works by scrolling down further in this newsletter. 

Now be sure to join me live at 9:15 a.m. ET for “Morning Monster,” my market-open livestream on YouTube!

 
 
‘Morning Monster’ Is Starting NOW!
_____________________________________________________

Powerful Way to Tap Into Bitcoin’s Moves Without Owning Risky Coins
 
 
Right now, Polymarket shows Donald Trump as the clear frontrunner in the election…

As you may know, he’s very supportive of crypto.

Rumor has it he might even create some sort of U.S. Bitcoin Strategic Reserve if elected.

If Trump actually does this, the price of Bitcoin could go ballistic.

 
 
 

So if you’re experiencing crypto FOMO right now as Bitcoin consolidates right around $65K…

Worried that the chance to reach in and scoop life-changing gains out of the crypto market has passed you by…

There’s still time. You see…

I’ve discovered a way to target crypto-like windfalls…

 
 
Without Buying Risky Coins At All!
_____________________________________________________
How the Daily Chart Setup Works
 
 
Here’s a more detailed description of how the pattern triggers:
 
1. The price breaks upward through the orange Market Roadmap Line. 

2. Then the price goes up and down while staying above the line. Eventually, it comes down to touch the line again — this could take days, weeks or even months. 

3. Once it touches the line and starts moving back up, that signals an entry. 

I use Fibonacci levels for for profit targets and stop losses, and these two tools combined have helped me achieve a 77% win rate over the past six-plus years!

You can grab my Market Roadmap Indicator here for just $5 — less than a cup of coffee at most places!
Jeffry Turnmire
Jeffry Turnmire Trading

I host my “Morning Monster” livestream at 9:15 a.m. ET each weekday on YouTube, and then “30 Minutes of Awesome” at 5 p.m. ET each Tuesday!

Please check out my channel and hit that Subscribe button!

I’m just a regular dude in Knoxville, Tennessee: a husband, father, civil engineer, urban farmer, maker and trader.

I've been at this trading thing with real money for 20-plus years, and started paper trading over 35 years ago. I have a knack for making some epic predictions that just may very well come true. Why share them? Because I like helping other people — it's the Eagle Scout in me. 


*This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk. 
   
 

No comments:

Post a Comment

Jack’s Election Briefing: Your Event Portal is Now Open!

INSIDE: Your access is unlocked Hi Tim Sykes here. And I'll be your host when we go live for Jack Kellogg's Emergency Election Br...