The earnings season heats up a bit next week with Tesla, Boeing, AT&T, and Coca-Cola leading the way.

Monday

After Close:

• SAP (SAP)
• Nucor (NUE)
• Logitech (LOGI)
• Zions Bancorporation (ZION)

Tuesday

Before Open:

• Verizon (VZ)
• General Motors (GM)
• 3M (MMM)
• RTX (RTX)
• Freeport McMoRan (FCX)
• GE Aerospace (GE)
• Lockheed Martin (LMT)
• Sherwin-Williams (SHW)

After Close:

• Enphase Energy (ENPH)
• Baker Hughes (BKR)
• Seagate Technology (STX)
• Texas Instruments (TXN)

Wednesday

Before Open:

• Boeing (BA)
• AT&T (T)
• Coca-Cola (KO)
• Thermo Fisher Scientific (TMO)
• CME Group (CME)
• Boston Scientific (BSX)
• General Dynamics (GD)

After Close:

• Tesla (TSLA)
• Lam Research (LRCX)
• IBM (IBM)
• ServiceNow (NOW)
• Viking Therapeutics (VKTX)
• T-Mobile (TMUS)
• Sands (LVS)

Thursday

Before Open:

• American Airlines (AAL)
• UPS (UPS)
• Southwest Airlines (LUV)
• Nasdaq (NDAQ)
• Carrier (CARR)
• Tractor Supply Company (TSCO)

After Close:

• Dexcom (DXCM)
• Deckers Brands (DECK)
• Western Digital (WDC)
• Skechers (SKX)

Friday

Before Open:

• New York Community Bancorp (NYCB)
• Colgate-Palmolive (CL)
• Piper Sandler (PIPR)

The bigger names are still week or more away:

– Nvidia: November 14- Meta – October 30- Apple – October 31- Amazon – October 31- Alphabet/Google – October 29- Microsoft – October 30-

This article was written by Greg Michalowski at www.forexlive.com.

• The price stalled ahead of a topside trend line yesterday on the hourly chart (see chart above) . The inability to get to the level is a small negative.
• The price fell below an upward-sloping trend line on the hourly chart above near 149.61
• The price fell below the 100-hour MA at 149.61
• The price run-up to extend above the 150.00 level, but only extended to 150.313 before rotating back to the downside.
• The move higher fell short of the 50% midpoint of the move down from the July high at 150.757 (see daily chart below).
• It also fell short of its falling 100-day moving average just above that level on the daily chart (see chart below).

Those are little chinks in the bullish bias that may be a downward clue.

What has not happened that would increase the bears control at least in the short term?

• The swing high from August 15 comes in at 149.356. The price has tested that level, but has NOT broken below the level (see 4-hour chart below).

• The price has NOT broken below the rising 200-hour MA at 149.242 (and moving higher). The price has not traded below that MA since October 2 (see the green line on the hourly chart).

The little breaks and bearish nuances are good news for sellers looking for more downside, but there is more work to do.

Nevertheless, if the price can stay below the 100-hour moving average 149.610 (and broken trend line at the same level) , the sellers have some hope for the start of something more/some more downside probing in the new week.

Fundamentally, if the BOJ sees more global stability. If China starts to show signs of bottoming or if China continues to stimulate. If the BOJ hints of more hikes to come, there could be a reversal. Also if US growth starts to weaken from strength or the Fed continues to recalibrate, the USDJPY can also correct lower (or reverse back down).

This article was written by Greg Michalowski at www.forexlive.com.

Here is a reminder from two years ago what the other side of that trade looks like. In October 2022, the gilt market blew up and that led to the ouster of Liz Truss while the market puked to the lows of the year when US CPI rose to 8.2% y/y.

But the doom and gloom proved to be a buying signal as this article showed, published exactly two years ago.

What were we doing in October 2022. Here is what I wrote on the day of the exact bottom at 3505 as the selling began to reverse intraday, resulting in a 5% intraday move:

What I can tell you is that there’s no mystery headline behind it.

There’s
no easy answer to explain the market moves. One thing I would highlight
is that sentiment right now is as negative as it’s been since 2008.
There aren’t many bulls out there and people are feeling pain. The
liquidation trades in utilities and telecom show mom & pop puking
stocks, which is generally a sign of the bottom.

Along
the same lines, JPMorgan was talking about a 5% decline in stocks if
CPI was hot today. When serious people are talking about a 5% daily
fall, sentiment is awful.

So the best you could
say is that this is something of a short squeeze or those on the
sidelines with cash stepping in. The UK pension system also doesn’t seem to be imploding so the ‚Fed will hike until something breaks‘ crowd will have to move onto the next target.

Now it was tough to maintain conviction at the very bottom and few people were hammering the bid but the lesson going forward is that you want to look for horrible sentiment at the bottom and euphoria at the top.

Also if you go back two years, this was something I was repeatedly pointing to, when almost no one else was watching it.

The bad news is that euphoria is tougher to spot than capitulation and fear, it can also last longer. Still, I don’t think we’re there yet and here is the recent bullish indicator from the same AAII survey.

I think the fear-and-greed index is probably a better one for tops but I think it’s a good time to tune into sentiment and these kinds of things.

This article was written by Adam Button at www.forexlive.com.