FAANG Stocks at July 2018 Earnings level
FB, AAPL, AMZN, NFLX, and GOOGL are all at the same level they were pre/post earnings last July. Keep in mind that it was the last batch of reports before the big tank.
So what does this mean? Maybe we go into a market melt up like last summer and the market tanks after the China trade news. Hard to say, some stocks are doing well on earnings and others are not. Mixed bag so far, really no way to predict earnings reaction at all, especially with reduced expectations.
Look at Dicks (I mean the stock, DKS). Missed earnings and still went to a 52 week high. The market is just getting stupid now.
So what does this mean? Maybe we go into a market melt up like last summer and the market tanks after the China trade news. Hard to say, some stocks are doing well on earnings and others are not. Mixed bag so far, really no way to predict earnings reaction at all, especially with reduced expectations.
Look at Dicks (I mean the stock, DKS). Missed earnings and still went to a 52 week high. The market is just getting stupid now.
It would appear that the market is indeed going to melt up like last summer. Might just take a break from the market, don't feel like chasing a top.