Pristine Market Analysis & Watchlist 4/19
TSLA Earnings!
Team,
The character of the market is changing before our very eyes! Let’s keep putting one foot in front of the other 👊
-Andrew
Equity Dashboard
Today’s session finished with 45.9% advancers and small cap leadership. While it doesn’t appear that much is happening when looking at the headline indices, there is plenty of rotation happening under the hood of the market!
Fed Fund Futures
Fed fund futures continue to move higher as market participants price in a lower probability of immediate economic catastrophe. It is worth continuing to monitor these movements, because the market is still pricing in at least one rate CUT into year end. If the market is forced to quickly price out all rate cuts, that could create ripples in equities.
TSLA Earnings
TSLA put up the following numbers after the bell:
Tesla Q1 EPS $0.85, Inline, Sales $23.33B Beat $23.29B Estimate
Tesla Q1 Operating Margin 11.4% vs 16% In Q4 and 19.2% In Q1 Of 2022
The stock is trading -5% in the after hours session after reporting largely in-line numbers.
ES_F S&P 500 Price Action Analysis
But this after hours TSLA madness is having little to no impact on the S&P 500. The index has been chopping sideways for the past four sessions. The best defense against a sideways market is to be as selective as possible in the trades you take!
In the following sections of tonight’s update, I’ll cover my research in preparation for tomorrow’s trading session
✅ Trend Model Update - Our proprietary indicator that informs us on how aggressive/defensive to position in the market
✅Market Strategy - My trading plan
✅ Today’s Trade Blotter and Position Update
✅Daily Watchlist - We scan thousands of stocks and hand-pick the best reward/risk opportunities
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