7/17/23 It’s Earnings Season!


The market rally stalled on Friday as investors considered the earnings reports of several big banks.

Mashup from Barron’s

JP Morgan (JPM) gained while Wells Fargo (WFC) & Citigroup (C) fell.

The indexes ended Friday’s session mostly lower…

  • Dow Jones +0.3%
  • Nasdaq -0.2% 
  • S&P 500 -0.1%
  • Russell 2000 -1.0%

Sector Round Up

The market was in the business of picking winners and losers on Friday. 3 of the 11 sectors ended the session with gains.

The winners…

  • Healthcare (XLV) +1.5%
  • Consumer Staples (XLP) +0.3%
  • Consumer Discretionary (XLY) +0.3%

At the bottom…

  • Financials (XLF) -0.7
  • Communications (XLC) -0.9%
  • Energy (XLE) -2.6%


Fear is still largely absent from the market.

The VIX is holding near 3-year lows. And historically, even in the strongest bull markets, it won’t fall much lower. 

VIX Daily Candles – Chart by thinkorswim

As long as it holds below 16, the bears are stuck in hibernation.

Here’s your latest readout…


With Q2 in the books, we’ll now hear how companies fared.

As earnings season heats up, here are the names we’ll be watching this week…

Another round of big banks reports Tuesday premarket. Those include…

  • Bank of America (BAC)
  • Charles Schwab (SCHW)
  • Morgan Stanley (MS)

After the closing bell on Wednesday, we’ll from two big tech leaders…

  • Tesla (^TSLA)
  • Netflix (^NFLX)

The week will end with options expiration.


*Low Float
^Open Position

*GREE on watch
*VIRI support at $2
RVYL on watch
GASS support at $4.20
SIFY support at $2.40
EYPT support at $10
^CIFR on watch
EVGN support at $1.30
^OSTK support at $30
IREN support at $7
UPST support at $40
GDRX support at $7
ADVM support at $2
CVNA support at $30

Secondary watchlist—float 100+ million

RDFN on watch
support at $18
CAVA support at $46
RGTI support at $1.60
ACHR resistance at $5
LTCH on watch

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