Tackle Today: Big Tech Crashes, S&P 500 Rises!?
October 28, 2022
«‘Tis a good omen.»
Traders,
Let’s play a game. I’ll tell you how bad the performance in the tech giants has been following earnings this week. You tell me how far the S&P 500 has fallen as a result.
- Google down 9.1%
- Microsoft down 7.7%
- Facebook down 24.6%
- Amazon down 13% afterhours
Remember, these were the market leaders of the past decade, the industry titans that dominated during the bull market. This week they dared to disappoint investors and were swiftly punished.
Now, how far did the S&P 500 fall?
It didn’t. At least not as of Friday morning – even with the mild down gap. If you’re not impressed, then you unimpressible. If this had happened a few months ago, the S&P 500 would have been destroyed.
This is the most bullish takeaway from market performance.
Video Of The Day: The Art of the Reversal (How to spot, analyze & trade a reversal pattern)
In this webinar, Coach Matt Justice is going to take a deep dive into how price action creates a reversal pattern. You will learn everything you need to know about how to spot, analyze, and trade the various reversal patterns that end (and begin!) trends:
Chart of the Day: Apple ($AAPL)
Apple bucked the trend this week, and perhaps that’s one big reason we’re not seeing more downside in the market this morning. Earnings were good enough to hold its share price steady.
Options Theory Blog
Condor Case Studies
In today’s video, I review our Phoenix Lab portfolio which is full of bull puts and naked puts. To cut the exposure, I show how to analyze and enter bear calls to morph the bull puts into condors.
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.
Cash Flow Club Replay
If you missed last night’s webinar where Coach Gino talked about Trading the Volatility drop after Earnings or would like to watch it again, check it out here.
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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