Good morning
We had some blow out earnings from MSFT INTC GOOGL & AMZN which giving the NASDAQ a nice bump in premarket. We are waiting on earnings from CVX and XOM that will likely have an impact on the energy sector. Biotech is a sector to be cautious of after disappointing earnings from CELG BMY AMGN GILD there could be snap back trade opportunities in the space but there is likely going to be more downside pressure. The IBB has a candle completely out of the lower Bollinger band but I would not be surprised it were to test the 200 day moving average and 300 as potential price support.
The dollar had an impressive pop yesterday and if that continues expect to see more weakness in gold and the miners.
GDP numbers will also play a role in todays market action and looks like we had a good number.
5:30:04am
US Q3 advance GDP 3.0% vs +2.6% expected via ForexLive
Friday's economic calendar
8:30 GDP Q3
10:00 Consumer Sentiment
1:00 PM Baker-Hughes Rig Count
After Hours Gainers / Losers
Top gainers, as of 5.25 p.m.: ALGN +11.1%. MULE +8.8%. AMZN +7.6%. GIMO +6.1%. FSLR +4.8%.
Top losers, as of 5.25p.m.: MAT -18.0%. EFII -15.7%. EXPE -15.4%. SMCI -14.8%. BIDU -8.6%.
Notable earnings before Friday’s open
AAN, ABBV, AON, B, CCJ, CL, COG, COL, CVX, CYOU, DORM, ERJ, GBX, GT, GVA, HUN, IMO, LECO, LPNT, LYB, MDXG, MRK, MTH, NRZ, PDS, PFS, PNM, POR, PSX, PSXP, SAIA, SC, SHPG, SIR, SOHU, SPG, TCF, TEN, TRU, UFS, VLP, VNTR, VRTS, VTR, WETF, WNS, WY, XOM
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Stocks on the radar
1. CLNT gapping off fluffy pr has a tendency to be a pop and flopper do not chase it look for intraday setup super tiny floater
2. ONCS potential follow through play off passive stake being announced by point72 just did an offering priced 1.35 potential day trade
3. ACTG crushed earnings gapper look for a break over the 200 day with volume potential 5 test and roll day trade or higher risk swing play maybe red to green
4. MB earnings flirting with all time highs small floater looking for a 30 test and roll potential day trade already ran into earnings look for a clean setup could also be a swing on pull to support
5. ITUS pr potential day trade off 50 sma and 2 roll> gapper small float look for intraday setup and volume
6. BCOV gapping after earnings lite volume do not chase potential gap fill on the daily
7. ATEN gapper off earnings and revenue raise announced share buyback Potential 8 test and roll along with a 20 day break> relentless insider selling day trade only
8. PLUG nice looking daily
9. MRIN Nice daily potential red to green day trade opp recent reverse split
10. RNN potential red to green day trade or higher risk swing on pull to support
