![\"\"](\"https:\/\/blog.t3live.com\/wp-content\/uploads\/2023\/04\/What-to-Watch-This-Week-1.png\")
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Tech Earnings Season Begins With Netflix and Tesla<\/strong><\/h2>\nTech is outperforming big time in 2023, with the QQQ's<\/strong> up 18.6% vs. a 7.3% gain for SPY<\/strong>:<\/p>\n![\"\"](\"https:\/\/blog.t3live.com\/wp-content\/uploads\/2023\/04\/2023-YTD-Return-4-Horsemen-ETFs-7.png\")
\nAs of Friday at 1:30 p.m. ET<\/em><\/p>\nBut the scales may tip with Netflix<\/strong> (NFLX) reporting earnings on Tuesday.<\/p>\nT3 Live Chief Strategic Officer Scott Redler<\/a><\/strong><\/span> notes “It's hard to be long or short Netflix into earnings given how far it's come. It's been a real leader over the last quarter, so it will give traders a good gauge on tech stock sentiment.”<\/p>\nTesla<\/strong> (TSLA) follows on Wednesday.<\/p>\nDan Darrow of T3 Live's Alpha Team VTF\u00ae<\/strong><\/a> tells us “Tesla's earnings will be must-see TV. April deliveries were disappointing relative to high expectations, and it will take a strong report and guidance to break the stock out of its 2-month trading range.”<\/p>\nFYI: Dan will join Greta Wall for a LinkedIn Q&A this Wednesday. Click here<\/a><\/strong> to sign up!<\/p>\nGiven Elon Musk's chronic inability to stay out of the news, the world will be watching this show.<\/p>\n
Semiconductor investors will want to keep an eye on ASML Holding<\/strong> (ASML) and Lam Research (LRCX) <\/strong>on Wednesday plus Taiwan Semi<\/strong> (TSM) on Thursday.<\/p>\nThe VanEck Semiconductor ETF<\/strong> (SMH) is up a whopping 22.9% YTD to top our ETF leaderboard:<\/p>\n![\"\"](\"https:\/\/blog.t3live.com\/wp-content\/uploads\/2023\/04\/2023-YTD-Return-Major-Sector-ETFs-16-1024x871.png\")
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\nAs of Friday at 1:30 p.m. ET<\/em><\/p>\nMicron<\/strong> (MU) rallied after a horrible quarter, so we'll see if the “it can't get any worse” semi rally extends into Q2.<\/p>\nPositions Disclosure: Scott Redler and Dan Darrow's positions as of 2023-04-14 at 1.26.32 PM<\/em><\/p>\n![\"\"](\"https:\/\/blog.t3live.com\/wp-content\/uploads\/2023\/04\/Screen-Shot-2023-04-14-at-1.26.32-PM-214x300.png\")
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\n(Click to enlarge)<\/p>\nEven More Bank Earnings: Schwab in Focus<\/strong><\/h2>\nBank earnings were on the strong side Friday, with JP Morgan<\/strong> (JPM) surging higher:<\/p>\n![\"\"](\"https:\/\/blog.t3live.com\/wp-content\/uploads\/2023\/04\/JPM-14_Apr_2023_14_02-1024x627.png\")
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We'll get even more this coming week.<\/p>\n
Schwab<\/strong> (SCHW) is a big one to watch on Monday.<\/p>\nWe all know Schwab as a major broker and asset manager, but the company's bond market losses got it caught up in the regional bank meltdown, and the stock's been a mess:<\/p>\n
![\"\"](\"https:\/\/blog.t3live.com\/wp-content\/uploads\/2023\/04\/SCHW-14_Apr_2023_14_02-1024x627.png\")
<\/p>\n
Traders and investors are eager to see the impact on Schwab's financials.<\/p>\n
The options market is pricing in a ~9% move in SCHW<\/strong> next week. Given the uncertainty, we could see such a move.<\/p>\nOther bank reports to watch:<\/p>\n
\n- Monday: State Street<\/strong> (STT)<\/li>\n
- Tuesday: Bank of America<\/strong> (BAC) and Goldman Sachs<\/strong> (GS)<\/li>\n
- Wednesday: Morgan Stanley<\/strong> (MS) and US Bancorp<\/strong> (USB)<\/li>\n
- Thursday: American Express<\/strong> (AXP)<\/li>\n<\/ul>\n
A Light US Economic Calendar<\/strong><\/h2>\nThe US economic calendar lightens up a bit this week.<\/p>\n
We'll have Building Permits on Tuesday followed by the Philly Fed and Existing Homes Sales numbers on Thursday.<\/p>\n
Traders will be looking for more signs of a slowdown to get a better read on the Fed and monetary policy.<\/p>\n
Overseas Is Busier<\/strong><\/h2>\nThe global calendar has a lot more happening, especially on the inflation front.<\/p>\n
We have CPI readings on Tuesday (Canada) and Wednesday (England, Eurozone, New Zealand).<\/p>\n
Inflation seems to be cooling worldwide so we'll see if the trend continues.<\/p>\n
Plus, China reports GDP and Industrial Production numbers late Monday.<\/p>\n
And on Friday, we'll get England and Canada's Retail Sales numbers.<\/p>\n
Sentiment Is Still… Confusing:<\/strong><\/h2>\nThe AAII Sentiment Survey<\/a><\/strong> shows that just 26.1% of investors are bullish, well below-the long-term average of 37.5%.<\/p>\nThat's down from 33.3% last week:<\/p>\n
![\"\"](\"https:\/\/blog.t3live.com\/wp-content\/uploads\/2023\/04\/Screen-Shot-2023-04-14-at-1.53.10-PM.png\")
<\/p>\n
According to AAII, “bullish sentiment remains below its historical average of 37.5% for the 71st time out of the past 73 weeks.”<\/p>\n
Pretty bearish… right?<\/p>\n
Yes.<\/p>\n
But the scales may tip with Netflix<\/strong> (NFLX) reporting earnings on Tuesday.<\/p>\n T3 Live Chief Strategic Officer Scott Redler<\/a><\/strong><\/span> notes “It's hard to be long or short Netflix into earnings given how far it's come. It's been a real leader over the last quarter, so it will give traders a good gauge on tech stock sentiment.”<\/p>\n Tesla<\/strong> (TSLA) follows on Wednesday.<\/p>\n Dan Darrow of T3 Live's Alpha Team VTF\u00ae<\/strong><\/a> tells us “Tesla's earnings will be must-see TV. April deliveries were disappointing relative to high expectations, and it will take a strong report and guidance to break the stock out of its 2-month trading range.”<\/p>\n FYI: Dan will join Greta Wall for a LinkedIn Q&A this Wednesday. Click here<\/a><\/strong> to sign up!<\/p>\n Given Elon Musk's chronic inability to stay out of the news, the world will be watching this show.<\/p>\n Semiconductor investors will want to keep an eye on ASML Holding<\/strong> (ASML) and Lam Research (LRCX) <\/strong>on Wednesday plus Taiwan Semi<\/strong> (TSM) on Thursday.<\/p>\n The VanEck Semiconductor ETF<\/strong> (SMH) is up a whopping 22.9% YTD to top our ETF leaderboard:<\/p>\n Micron<\/strong> (MU) rallied after a horrible quarter, so we'll see if the “it can't get any worse” semi rally extends into Q2.<\/p>\n Positions Disclosure: Scott Redler and Dan Darrow's positions as of 2023-04-14 at 1.26.32 PM<\/em><\/p>\n Bank earnings were on the strong side Friday, with JP Morgan<\/strong> (JPM) surging higher:<\/p>\n We'll get even more this coming week.<\/p>\n Schwab<\/strong> (SCHW) is a big one to watch on Monday.<\/p>\n We all know Schwab as a major broker and asset manager, but the company's bond market losses got it caught up in the regional bank meltdown, and the stock's been a mess:<\/p>\n Traders and investors are eager to see the impact on Schwab's financials.<\/p>\n The options market is pricing in a ~9% move in SCHW<\/strong> next week. Given the uncertainty, we could see such a move.<\/p>\n Other bank reports to watch:<\/p>\n The US economic calendar lightens up a bit this week.<\/p>\n We'll have Building Permits on Tuesday followed by the Philly Fed and Existing Homes Sales numbers on Thursday.<\/p>\n Traders will be looking for more signs of a slowdown to get a better read on the Fed and monetary policy.<\/p>\n The global calendar has a lot more happening, especially on the inflation front.<\/p>\n We have CPI readings on Tuesday (Canada) and Wednesday (England, Eurozone, New Zealand).<\/p>\n Inflation seems to be cooling worldwide so we'll see if the trend continues.<\/p>\n Plus, China reports GDP and Industrial Production numbers late Monday.<\/p>\n And on Friday, we'll get England and Canada's Retail Sales numbers.<\/p>\n The AAII Sentiment Survey<\/a><\/strong> shows that just 26.1% of investors are bullish, well below-the long-term average of 37.5%.<\/p>\n That's down from 33.3% last week:<\/p>\n According to AAII, “bullish sentiment remains below its historical average of 37.5% for the 71st time out of the past 73 weeks.”<\/p>\n Pretty bearish… right?<\/p>\n Yes.<\/p>\n
\nAs of Friday at 1:30 p.m. ET<\/em><\/p>\n<\/a>
\nClick to enlarge
\nAs of Friday at 1:30 p.m. ET<\/em><\/p>\n<\/a>
\n(Click to enlarge)<\/p>\nEven More Bank Earnings: Schwab in Focus<\/strong><\/h2>\n
<\/p>\n<\/p>\n\n
A Light US Economic Calendar<\/strong><\/h2>\n
Overseas Is Busier<\/strong><\/h2>\n
Sentiment Is Still… Confusing:<\/strong><\/h2>\n
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