$AAPL, Apple Computer crushes earnings estimates this quarter, easily beating the streets number, coming in at $1.40 versus the estimate $0.99. $FB, Facebook, is also trading well after earnings, hitting fresh all-time highs in the after-hours session. Will this be enough juice to push the Nasdaq to the moon, or is this the point where we run out of buyers? One thing is for certain, Apple is raping everyone for their stimulus dollars, that was a monster beat.
Besides large cap companies like $AAPL, many of the smaller cap, momentum type plays still have a lot of overhead resistance to work through. This is evident simply by placing a volume profile layer onto of you favorite momentum stock. My Delta scanner inside Stocklabs is starting to show signs of life, but more often than not, I’m still noticing many setups fail. There seems to be a bunch of scared money left in the market with all the hot money shuffling over to Cryptocurrencies, specifically Alt coins.
I myself have been dabbling more and more into Alt coins, aka alternative crypto coins & tokens. I have a recent obsession with $SOL & $SRM, both of which I am dollar cost averaging into. $SOL is easy to purchase via Blockfolio and $SRM can be purchased with the Voyager App, probably one of my new favorite apps for simplicity.
As for stocks to trade tomorrow, I’m running low on conviction plays here. Let’s see if $AAPL can push the NASDAQ to the moon, if not, I’ll continue to find runners on Pancakeswap, but that another subject for another blog.
Stay safe out there…