The stock market (NYSEARCA:SPY) is approaching a key level at 280. A close above it would be a breakout signaling the market can move higher.
So far the stock market has looked through trade concerns and Fed rate hikes and we’re about to enter earnings season.
Now that we’re moving into earnings season the fundamentals should matter more than the macro.
Earnings matter for stocks. Starting this week earnings reports and guidance are the stock market’s next cue.
Bullish For Tech Stocks For Q2
We’re bullish about tech stocks for Q2 and, maybe more importantly Q3 guidance. If correct that may have been the reason for the stock market’s strength despite negative “macro” news.
So far our work says that Q3 business has not been affected yet by trade concerns. If that shows through in strong guidance we should continue to higher highs for the stock market.
Hitting Tech Stock Earnings Home Runs
We spoke to the top tech companies over the last few months to identify what tech stocks have home run earnings potential. Earnings are what drives stocks, especially tech stocks. Finding those few tech stocks that have realistic earnings trajectories way above the Street can give you conviction to see a stock through to big upside. Dip your toe in the water with a free trial.
We’re about to hit our prime time, earnings season.
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We have no holdings in the stocks mentioned unless otherwise noted.