Traders,

Let’s take last Friday’s message one step further. In it, I shared how bad the beat down was in mega cap tech stocks (sans Apple) following earnings:

• Google down 9.1%
• Microsoft down 7.7%
• Facebook down 24.6%
• Amazon down 13% after hours

And yet, the S&P 500 still finished the week higher.

Today’s stat broadens the scope of how stocks have fared in aggregate. Forget what companies are saying. It’s not the news that matters on Wall Street. It’s the reaction that drives investors’ bottom line.

And by all measures, this has been a banner earnings season. According to Bespoke, the S&P 500 is on pace for its best earnings season performance in over a decade. Add this to your growing list of items that are not bearish.

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Video Of The Day: Gino’s Gems: Revisiting the Thinkorswim Indicator AR High-Low

In today’s Gino’s Gems, Coach Gino Poore talks about the AR High-Low Thinkorswim Indicator ($ARHI1M and $ARLO1M).

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Chart of the Day: S&P 500 Earnings Season Performance

Today’s chart shows the S&P 500’s price performance during the first 24 calendar days of earnings season going back to 2009.

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Tales of a Technician

How to Manage Naked Puts Now

The market turned bullish ahead of Wednesday’s Fed meeting and Team Phoenix is holding a basket of naked puts and bull puts. Here’s how I’m managing them into tomorrow’s festivities.

Today’s line up

Traders Lounge 11 AM EST

Join the coaches in this live lounge, ask questions, discuss ideas or just sit back and listen to veteran traders discuss market conditions.

The Coaches Show 8:30 PM EST

This is our weekly MasterMind group. Join the coaches tonight, 8:30 PM EST to discuss the markets and help you prepare for the week.

Halftime Report 12:30 PM EST

The Halftime Report starts at 12:30 EST and covers what news is driving the market, chart analysis from the movers and shakers of the day, and fun in a way that only Matt and Tim can deliver.

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Financial freedom is a journey

Sign up now and gain unfettered access to all of the quality content and powerful Scouting Reports that our Pro Members enjoy for 15-days absolutely free with no strings attached and let us show you what your trading has been missing.

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