January 26, 2023

Markets:

S&P 500 futures advanced modestly Thursday as investors parsed through the latest batch of corporate earnings.

Earnings season trudged on with IBM dipping 2% despite exceeding analyst expectations. The legacy tech company also said it would cut 3,900 jobs. Tesla shares, meanwhile, jumped 7% after posting record revenue and better-than-expected fourth-quarter earnings.

Airline earnings rolled out with Southwest falling on a larger-than-expected loss fueled by its holiday meltdown. American Airlines rose on a fourth-quarter beat.

Wall Street is coming off a mixed session. The Dow ended Wednesday up 0.03% after dropping more than 400 points earlier. The Nasdaq Composite and S&P 500 dipped just 0.18% and 0.02%, respectively.

European markets advanced on Thursday, building on positive momentum seen in the previous trading session.

Portfolio:

We are locked and loaded for today and remain in the right sectors based on this mornings premarket activity and the potential these charts and technicals are showing right now. We enter the session holding positions in AI and AEHR. We will be looking to move into new opportunities. Be on alert today and let's continue to attack this market. This current move continues to take the majority by surprise as so many doubt the technicals and trends this market is producing. In doing so, they continue to miss the opportunity in front of them. Should this market clear the 4100 mark on the S&P and hold it…it'll be a sight to see as we think this narrative completely shifts and could have a monster short term bull run. Watching…waiting…patiently. We will not fight the trend! Let's have a great session.