Oversold market and seasonal tailwinds The markets are deeply and way oversold. No other ways of saying that. Can it go lower? Yes it could. But the probabilities of it rallying upwards in the near term are higher than not based on technicals and sentiment. Sentiments are pretty bearish at the moment and the contrarian trade is up. Technically, both the broad market index and the Nasdaq are pretty much extended in their fifth wave of the fifth wave of what looks like an ending diagonal. And ending diagonals tend to have sharp snapbacks. Indicators also look at stretched oversold levels and pretty ready for a rebound. Inagine a loaded spring. That is what the markets are looking like to me. The Nasdaq has also made a divergence and a higher low compared to the SPX on the micro charts.
@pcwSg:Honestly thought "dressing up as a pumpkin" means this...[Happy] [Happy] Though the stem is covering the face... [Blush] [Blush] So... did a simple fix [Eye] [Eye]
Apple $Apple(AAPL)$ , which reports on Nov. 2, is expected to report revenue of $8.931 billion, up from $8.18 billion in the previous quarter, and earnings per share are expected to be $1.39. That's up from $1.26 in the previous quarter. Because Apple has met or exceeded revenue and earnings per share expectations in three of the last four quarters, coupled with the iPhone 15 release, the market's expectations for this earnings report are higher. While Apple shares are well off their highs for the year, the stock is still up more than 30% this year. The 2023 Apple price opened at $130.28 and has been steadily rising for most of the year, peaking at $198.23 on July 19. But it is currently trading in the mid-range of $173.69.
@MillionaireTiger:Tech Earnings Week: Where Would You Invest $100,000?
$(FDX)$ I'm mystified at FDX's forward guidance. Per the earnings presentation slides, for FY23, Yields are declining, volumes are declining, and Express is off 81% from a year ago. On the positives, clearly, FDX has made progress in reducing expenses (including an 8% reduction in flight hours, which is significant, but what about revenue associated with those flight hours?), reducing headcount (4% reduction in wage expense), plus a share repurchase to boost EPS. But I just don't see how FDX can expect a highly-uncertain US economy to be able to support an EPS growth of upwards of 16% in the next year? Wouldn't a cautious outlook have been more appropriate?