Big Tech Earnings Boost NASDAQ

Hello traders everywhere. The NASDAQ has gained over 2% today spurred by fantastic earnings from the tech sector, which has seen substantial profit taking as of late. Inc (NASDAQ:AMZN) reported earnings per share of 52 cents a share, way ahead of Wall Streets estimate of 3 cents a share. Amazon Web Services, the company's cloud business, was its primary driver for growth, with sales leaping 42% on a year-over-year basis.

Amazon also received a boost in sales from its Whole Foods acquisition back in August.

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Meanwhile, the Microsoft Corporation (NASDAQ:MSFT) beat Wall Street earnings expectations by 12 cents a share as its commercial cloud business topped $20 billion in annualized revenue for its fiscal first quarter. The stock was on track to post its biggest one-day gain since October of 2015. Continue reading "Big Tech Earnings Boost NASDAQ"

A Member's Request

Hello MarketClub members everywhere! Today I'm going to be looking at some well-known, household-name stocks at the request of one of our members. I will be analyzing AMZN, GOOGL, CMG, TSLA, IBM and FB, along with the usual suspects, in today's video. Inc. (NASDAQ:AMZN) It's no secret Amazon wants to take over the world and they certainly seem like they're well on their way to doing that. Looking at the stock however, it is showing a mixed picture. The long-term monthly Trade Triangle continues to be red which is perhaps indicating a cap on this market for the moment. Both the weekly Trade Triangle and the PSAR are indicating more of a trading range. Amazon would have to move over the $638 level before everything was lined up and ready to go on the upside. I prefer the sidelines at the moment. Continue reading "A Member's Request"