It’s a true pleasure to be just composing a post about charts again. What a relief!
Anyway.
Two monsters in tech reported after the close. The first, Alphabet, is flying higher. It’s funny, because I off-handedly said about GOOGL “This thing tends to go ten bucks up or down after a report“, and that’s precisely what it did (up, clearly).
In sharp contrast to this, AMD is getting zapped in the jewels. I used to have puts on this, but honestly, the daily chart had become uninspiring. Congratulations to anyone short this thing.
The short-term result of all this was……………zilch. The NQ had done all the “lift” that it wanted to do, and it seems content to be precisely where it was before either company reported.
The real question at this point is whether all these earnings during the week push QQQ above 502.81, which was its former lifetime high. Doing so would complete this bullish right triangle setup.
I just want to say thank you again to the Slopers who had to put up with this morning’s downtime. Yuck! The patience and good spirit you showed proves to me once again what a great community we have here.
