Good morning from sunny Tennessee. As I turn on my screens this morning I see red on the futures. /RTY is down about 0.50%, and probing yesterday’s lows. I think today will be an important session for /RTY, as we look to see if the pullback from last week’s strong bounce accelerates, or if we reverse back higher to make a run at the key POC cluster of resistance between 1775-1783.
It’s going to be a light week for economic news, with the exception of sporadic Fed speakers throughout the week. We do have some earnings to monitor this week. If you aren’t familiar with Slope’s earnings calendar, you can go to the top tab and click on “Equities” and then “Logo-Based Calendar”. Slope will then show you the earnings for this week. After the close today, we’ve got Rivian, Gilead Sciences, and Occidental Petroleum.
Uber reported earnings this morning, showing net income of $221 million versus a loss of $1.2 billion in the year prior. The stock is seeing a muted reaction in the premarket. The action of the morning appears to be in Datadog (DDOG). The company reported EPS of $0.45, beating by $0.11/share. The stock is responding premarket, up roughly 20%.
