The Biggest Earnings Week EVER

CNBC is reporting that this is the biggest earnings week EVER, with nearly 200 companies from the S&P all reporting in a single week. Cramer mentions there’s no way we can get through all of this data in a single week which is why the first initial reaction from stocks reporting is normally the wrong reaction. He used $CAT & $INTC as examples from last quarter.

In summary, watch out for landmines this week. If you hold multiple positions in your account, you are likely to have a least one reporting this week. Earnings Whispers has put together a great calendar of the most popular companies reporting, see below:

#earnings $AMZN $MSFT $TWTR $GOOGL $INTC $CLF $X $AKS $RAD $CMG $F $HAL $FCX $SBUX $CAT $KO $SWKS $XOM $MCD $T $HAS https://t.co/lObOE0dgsr pic.twitter.com/qhkR7KKeMq

— Earnings Whispers (@eWhispers) April 22, 2017

I’m pretty sure you are wondering what 3D printers have to do with Coca-Cola. Well, it looks like the two, DDD & KO, will be playing for the 9th annual iBC stock madness championship.

For the four who are still left, here is an update on the brackets (BRACKET UPDATE). It looks like Mr. Kytrader & Mr. Robert Simon will go head to head next week for the coveted championship mug.

Good luck guys.

Oil longs are getting punched in the nuts once again as Crude oil futures fall back below $50. I’ve been patiently waiting for a dip to get aggressive in oil stocks ahead of summer driving & cane season (that’s hurricane season).

I’ve already started a position in $RIG, and will be looking to add some $APA & $WTI in the very near future.

Here’s a current look at the price of oil, breaking down below $50:

Here’s a look at the top hybrid movers inside Exodus. Note, these are not the top percentage gainers on the day, these are the top gainers in “Hybrid Score”, aka the secret sauce to Exodus.

I’ve imported today’s screen to finviz for your viewing pleasure: CLICK HERE FOR CHARTS. Tickers of interest include: CLF, GM, SNAP, CRM, COF, ATI, & YELP

The S&P 500 has recovered the 50 day moving average today, but is holding on ever so slightly. The Russell 2000 index has also recovered the 50 day, leading to a more bullish case.

Bulls need to push us higher here into week’s end to make a statement. A weak close will lend a hand to the bear case, as the 50 day continues to create resistance.

Let’s see how they close us today. We should have confirmation on future market direction in the next few days. Today’s close is important. Developing…

There is news hitting the wires that Tesla, stock symbol $TSLA, will recall over fifty thousand autos for brake issues. The story is developing, and TSLA shares are taking a hit here, yet still holding $300.

$TSLA recalls 53k vehicles made in 2016. Total production was 83,922 vehicles. So that's 63% of all cars made last year.

— Melissa Lee (@MelissaLeeCNBC) April 20, 2017

I’ve been looking for a meaningful dip to buy back into TSLA. Maybe this is the start of that dip. I doubt $300 holds.

Devloping…