Good Evening Stackers,
After testing and holding just under 390 last week the SPY rocketed up >4% on the week! The bulls are back in control, but before we see how long this can last I want to discuss a giveaway!
One of my premium subscribers will receive an iPad air of their choice in just a few weeks! Hereβs how entries will be counted
Annual Subscriber - 5 Entries π
Monthly Subscriber - 1 Entry π
*Free trials will not be eligible for the giveaway.*
I am very excited to do this giveaway. Best of luck!
Valiant Effort but wrong
AAPL earnings were stronger than anticipated, as it beat both EPS and revenue estimates. We went bearish on AAPL on Friday the 22nd of July. AAPL did have 3 consecutive red days, but it was unable to trade <150 and then closed > our bear pivot nullifying our thesis.
Here was the action that followed the post.
My AAPL bearish take was undoubtedly early, which is the same as being wrong on Wall Street. However, due to options positioning, I still believe the lows of the year are not yet in. For this reason, I plan to revisit the AAPL bearish thesis after it has a chance to cool down post-earnings.
The Week Ahead
Hereβs what I'm watching for the week ahead
Tuesday JOLTS reading from June (Job openings and labor turnover surveys)
OPEC + meeting Wednesday
EA Retail Sales
Thursday earnings- BABA 0.00%β LLY 0.00%β AMGN 0.00%β TEAM 0.00%β
NFP report from July on Friday
DKNG 0.00%β earnings
In addition to these economic events and readings, this weekβs earnings reports are loaded with major oil companies. OXY 0.00%β, MPC 0.00%β, and MRO 0.00%β should all be on your radar after XOM 0.00%ββs impressive report.