MSFT & GOOG (& GOOGL) reported big profits yesterday. Their earnings beat the “expectations” by a long shot. But these trillion-dollar-plus companies have failed to drag the market higher with the news. Futures are mostly flat as we enter October’s final three days of trading.
This morning I’m also watching HOOD because its earnings disappointed. Lower crypto revenues were the main culprit. Bitcoin slipped after the report and is trading below the key level of $60,000 at writing.
All and all the major narrative hasn’t changed. Markets went almost straight up for the past week or so. Some side-ways consolidation is to be expected. I remain extremely bullish for the time being.
One more story I’m watching is the metaverse. FB has committed to rebranding and spending $10 billion on development. GME‘s new job postings suggest it’s looking to join in that game too.
Right now gaming environments offer the closest thing to a “metaverse” so it makes sense for them to be on the cutting edge of this sector.
But until the market decides this is a hot sector it will remain a story I’m only watching.
*IINN is on watch
*BKKT is on watch
GHSI has resistance at $2
CXDC has support at $1.20
AGC has support at $12
PROG watching for a setup above $4
KULR has support at $3
WTRH has support at $1.70
HUT has resistance at $13
CDEV has support at $7.60
UNIT has support at $14
GNUS has resistance at $2
OTC, no levels:
AIAD, NSAV, PQEFF