TSLA post earnings drop (check) & NFLX post-earnings drop (check). AAPL, MSFT, GOOGL, AMZN, & META (NVDA later on Aug 23rd) earnings still to come but I covered all of those in today’s (Thursday) video and all have technical postures that point to pre and/or post-earnings trend changes (bullish to bearish) IMO but as always, the charts are very accurate in predicting the future direction of a stock but far from 100% so watch how the market reaction to each of the big tech earnings over the next few weeks & that should give us some better visibility on whether or not the market is topping out here or just consolidating before another leg up.

Looks like the chart that perma-bear Sven Henrich has been posting. I do give him credit, though, for being long from October until May, though. But he’s back to calling tops too early, as he’s always done before. All the bears will be proved correct eventually. I’m partial to Darius Dale’s view that markets top about a month before recession begins, and that the soonest we see a recession will be some time in Q4 this year or Q1 next year. The FOMO happening now, though, does certainly feel like late cycle toppy action. Even with the upcoming Nasdaq re-balance, AI-related news from companies like AAPL and MSFT keeps the frenzy going. If all the big names continue to talk about AI in their upcoming earings conferences, then maybe we are in store for a big blow-off-top to new highs sooner than later.

Well hope so! I feel like this quarters earnings will degrade

The Trend Line has been respected several times and now at resistant. Hope this works out for all of us…