Folks, it’s quarterly earnings season… And WealthPress Head Trader Roger Scott has some important insight into why you need to pay attention to FAANG stocks ahead of earnings.
FAANG stocks are among the most popular, most-held stocks on the market, and they make up a massive chunk of the Nasdaq 100. And there are a number of factors that will influence whether they go higher or lower over the next six months.
FAANG stocks of course are Facebook Inc. (Nasdaq: FB), Amazon.com Inc. (Nasdaq: AMZN), Apple Inc. (Nasdaq: AAPL), Netflix Inc. (Nasdaq: NFLX), Google parent Alphabet Inc. Class A (Nasdaq: GOOGL), and now Nvidia Corp. (Nasdaq: NVDA) is in the club because of its market cap.
These large-cap tech stocks were market leaders throughout the entire Trump administration, leading the Nasdaq to a number of new record highs. Apple even became the biggest company in the world over the past few years…
But around Sept. 2 of this past year, something started happening to them…
FAANG Stocks Ahead of Earnings: Praise or Panic?
After the Nasdaq set a new record peak in early September, FAANG stocks largely stopped moving higher, bucking the trend. Roger wasn’t sure whether this was because traders anticipated Joe Biden winning the 2020 election, or if it was because the broader rally was coming to an end.
This was the first time in years that something like this had happened… We saw the S&P 500 continue to go higher and higher, and when FAANG stocks stopped following along, we started to worry.
So if you’re wondering what’s going on for FAANG stocks ahead of earnings next week and where you should be positioned, you’re in the right place!
In today’s video Roger is going to discuss where these stocks are right now… which ones are leading… and where the panic level is for other FAANG stocks ahead of earnings.
P.S. There’s a little-known calendar that tracks a list of stocks that have seen huge gains on the same day every year…
For a decade!
Just look at some of the recent calendar signals like… 71% on Tyler Foods in three days in September… 82% on Thermo Fisher in nine days in December… and 168% on Sherwin Williams in nine days in August.