Take Me To the Live Show at 8:45 ET | Dear Fellow Trader: | Markets are coming off their best week since mid-April, with the S&P 500 up 4.5%, Dow up 2.5%, and Nasdaq leading with a 6.7% gain. | However, futures were pointing lower today, suggesting that some caution was returning to the markets. | Investors will be particularly focused on whether Big Tech earnings can maintain momentum after Alphabet's strong results helped drive the rally last week. | This week also brings a packed economic calendar alongside crucial earnings reports from tech giants that could significantly impact market direction. | Keep an eye on the setups around expected moves — there's a lot of opportunity when you know what numbers the market is really watching. | Let's look at the schedule… | Corporate Earnings This Week: | Monday: Domino's Pizza, MGM Resorts, Waste Management Tuesday: Coca-Cola, First Solar, PayPal, Pfizer, Royal Caribbean, Starbucks, Visa Wednesday: Microsoft, Meta, ADP, Caterpillar, Qualcomm, Robinhood Thursday: Apple, Amazon, Airbnb, CVS, Eli Lilly, Mastercard, McDonald's, Reddit Friday: Chevron, Exxon, Cigna, Apollo
| Economic Data News: | Monday: Dallas Fed Manufacturing Activity Tuesday: Job openings, Consumer confidence Wednesday: Q1 GDP (forecast: 0.1% vs. 2.4% prior), PCE inflation data Thursday: ISM Manufacturing, Initial jobless claims Friday: April jobs report (forecast: 133,000 jobs vs. 228,000 prior) Here's what's on tap for our show today…
| Momentum Monday | What's the state of momentum after last week's rally? | You know the answer, as we saw a rally kickoff last week. | However, let's examine a ticker that offers a different perspective. | The iShares MSCI USA Momentum Factor ETF (MTUM). | | We're seeing strength in this ETF, with recent breaks above its 20-, 200-, and now 50-day SMA. All while its 50-day moving average is below its 200-day moving average. | We need to keep an eye on the names that comprise this ETF… | Walmart | 5.14 % | JPMorgan Chase | 4.90 % | Broadcom Inc | 4.73 % | Tesla | 4.0% | NVIDIA | 4.03 % | Meta Platforms | 3.86 % |
| We'll check those names and more as we kick off today's trading session. | Breakouts and Breakdowns | Momentum is all about the strength of the trend. For now, it's returned, and investors and traders are trying to play catch-up. We'll keep a close eye on the number of stocks breaking down and breaking out. | The surprise: The total collapse in selling pressure over the last week. | And with so much riding on this week's earnings, knowing where the real pivots are hiding could be the difference between chasing moves and catching them early. | I'll take you through our measures and give you a list of key names to trade as conditions shift. | But you have to be in the room… | Sector Check Ups | We'll start the week with a dive into the sectors - what's working? | What's not? Right now, we have four sectors in positive territory… And we're looking for ways to trade each of them. Let's dig into our leveraged ETFs for clues on market flows. | Now… here's something that you might not know… Sector momentum is NOT based on the S&P 500. It is based on broader measurements of many companies spread across the S&P 500 and the Russell 2000. | Here's where we stand on our sector SMA20s this morning on the S&P 500...: | | But there's an important difference… and I'll walk you through it. | We'll be live… at 8:45 ET. Join us here… | I look forward to seeing you there. | Stay positive, | Garrett Baldwin |
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