The stock market continues to melt up, as both the S&P 500 and the Nasdaq hit fresh highs on Friday. Not that stocks needed any help, but they did get a boost after a better than expected GDP reading (3.2% vs. 2.3%).

As for me, I’ve been chilling in the Bahamas with my family and slinging options on my iPhone.

(I’m stilling holding on to my ROKU calls… you can’t be scared to make big money! If you’re ready to receive my alerts in real-time, click here to get started)

While the majority of earnings have been stable like (AMZN, MSFT, and F), there have also been some disappointments (MMM, TSLA, and INTC). But not enough to make investors worried.

Now, I wouldn’t call myself an event-driven trader. However, I do pay close attention to the VIX (the market’s fear index), economic data, the Federal Reserve, and other market internals.

That said, with the VIX below 13 (it was 36 when stocks were crashing last December), it’s safe to say that traders are complacent.

Heck, even I have been trading less and soaking in more sun during this “volatility pause.”

 

(Options trading gives me the freedom to travel anywhere and spend time with my family if you’re ready to receive my alerts when they happen and not after the fact, click here to join me.)

Nonetheless, we’re headed into another great week of trading which includes earnings from Apple, Pfizer, Alphabet, McDonald’s and hundreds of other stocks.

Also, we can expect trade talks to pick up again, as U.S. Rep. Lighthizer and Treasury Secretary Mnuchin are set to speak with Chinese delegates next week.

 Read on for the full earnings (including implied moves) and economic schedule, as well as, my take on SPY chart.

 

What We’re Watching

 

If you haven’t seen the headlines yet… the market made an all-time high. Now, just last week, I mentioned the resistance area around $291.50 – $292 would be a key level to watch in the SPDR S&P 500 ETF (SPY).

If you look at the chart above, the market is slightly above that resistance area (the blue horizontal line)… until we actually see some negative catalysts, like weak earnings growth… or something Fed-related… the market probably continues higher here.

For now, I’m staying away from the market, unless I see the money pattern flash a clear buy or sell signal (blue line crossing below the red line), or any clues from the Federal Open Market Committee (FOMC) meeting this week. We’ll be keeping a close ear to the Fed because things could actually get a little interesting with the Fed’s interest rate decision on Wednesday.

Now, if you recall, the Fed paused its interest rate hike policy due to uncertainty about the economy and financial conditions. Well, with Friday’s strong GDP numbers, it’s probably going to cause some debate about policy direction and whether they should consider raising rates. However, we’ll probably see Fed officials remain content with the “wait-and-see” approach. So this breakout above the $291.50/$292 level could actually be a fake out… but for now, all eyes will be on corporate earnings and the Fed.

Even though we’re on the sidelines in market trades, that doesn’t mean we’re not active. Earnings are picking up – and for us, the means more opportunities. That in mind, there’s a lot to look forward to on the earnings and economic front, so let’s get right into it.

Monday April 29, 2019

 

Economic Calendar:

 

  • 8:30 AM EST               Personal Income
  • 8:30 AM EST               Personal Spending
  • 8:30 AM EST               PCE Deflator
  • 10:30 AM EST             Dallas Fed Manufacturing Activity

Earnings Calendar:

 

Earnings Before Open

 

  • Loews Corporation (L) implying 3.72% move (monthly contracts expiring in May), historical average move 3.27%.
  • Spotify Technology (SPOT) implying 8.13% move.
  • Insperity Inc (NSP) implying 9.16% move (monthly contracts expiring in May), historical average move 10.91%.

Earnings After Close

 

  • Alphabet Inc (GOOGL) implying 4.42% move. Historical average move 4.97%.
  • Western Digital Corp. (WDC) implying 9.16% move. Historical average move 10.18%.
  • Tenet Healthcare (THC) implying 11.63% move. Historical average move 17.93%.
  • MGM Resorts (MGM) implying 5.69% move. Historical average move 6.42%.
  • NXP Semiconductors (NXPI) implying 7.42% move. Historical average move 5.09%.
  • Yum China Holdings (YUMC) implying 7.95% move (monthly contracts expiring in May), historical average move 11.1%.
  • Chegg (CHGG) implying 11.49% move (monthly contracts expiring in May), historical average move 14.95%.

Tuesday April 30, 2019

 

Economic Calendar:

 

  • 7:45 AM EST               ICSC Weekly Retail Sales
  • 8:30 AM EST               Employment Cost Index
  • 9:45 AM EST               Chicago PMI
  • 10:00 AM EST             Pending Home Sales
  • 10:00 AM EST             Consumer Confidence
  • 4:30 PM EST               API Weekly Inventory Data

Earnings Calendar:

 

Earnings Before Open

 

  • General Motors (GM) implying 4.65% move. Historical average move 4.89%.
  • General Electric (GE) implying 8.33% move. Historical average move 7.63%.
  • Phillips 66 (PSX) implying 3.85% move. Historical average move 3.65%.
  • Pfizer Inc. (PFE) implying 3.26% move. Historical average move 3.37%.
  • HCA Healthcare (HCA) implying 5.62% move. Historical average move 5.36%.
  • Charter Communications (CHTR) implying 5.73% move. Historical average move 9.43%.
  • Merck & Co. (MRK) implying 3.92% move. Historical average move 3.51%.
  • ConocoPhillips (COP) implying 4.24% move. Historical average move 2.91%.
  • Eli Lilly & Co. (LLY) implying 3.50% move. Historical average move 3.97%.
  • PACCAR (PCAR) implying 5.84% (monthly contracts expiring in May) move. Historical average move 6.33%.
  • McDonald’s Corp. (MCD) implying 3.43% move. Historical average move 4.43%.
  • Mastercard (MA) implying 3.75% move. Historical average move 3.48%.
  • Shopify (SHOP) implying 8.52% move. Historical average move 10.44%.

Earnings After Close

 

  • Apple Inc. (AAPL) implying 4.85% move. Historical average move 5.37%.
  • Chubb Corp. (CB) implying 3.44% (monthly contracts expiring in May) move. Historical average move 2.45%.
  • Mondelez International (MDLZ) implying 3.70% move. Historical average move 4.97%.
  • Flex (FLEX) implying 9.37% move. Historical average move 12.72%.
  • Amgen (AMGN) implying 3.86% move. Historical average move 3.53%.
  • Devon Energy (DVN) implying 6.83% move. Historical average move 7.91%.
  • Akamai Technologies (AKAM) implying 6.82% move. Historical average move 10.17%.
  • Nu Skin Enterprises (NUS) implying 11.42% (monthly contracts expiring in May) move. Historical average move 8.98%.

Wednesday May 1st

 

Economic Calendar:

 

  • 7:00 AM EST               MBA Mortgage Applications Data
  • 8:15 AM EST               ADP Employment Change
  • 9:45 AM EST               Markit US Manufacturing PMI
  • 10:00 AM EST             ISM Manufacturing
  • 10:00 AM EST             Construction Spending
  • 10:30 AM EST             Weekly DOE Inventory Data
  • 2:00 PM EST               FOMC Interest Rate Decision

Earnings Calendar:

 

Earnings Before Open

 

  • CVS Health (CVS) implying 5.49% move. Historical average move 5.12%.
  • Humana (HUM) implying 5.38% move. Historical average move 4.55%.
  • Enterprise Products (EPD) implying 2.50% move. Historical average move 2.58%.
  • Estee Lauder Companies (EL) implying 6.31% (monthly contracts expiring in May) move. Historical average move 8.82%.
  • Molson Coors (TAP) implying 5.45% move, historical average move 7.62%.
  • L3 Technologies (LLL) implying 6.50% (monthly contracts expiring in May) move . Historical average move 4.30%.
  • Garmin (GRMN) implying 6.36% move. Historical average move 7.15%.

Earnings After Close

 

  • Metlife Inc. (MET) implying 3.67% move. Historical average move 3.59%.
  • Prudential Financial (PRU) implying 5.32% (monthly contracts expiring in May) move. Historical average move 4.24%.
  • Allstate Corp. (ALL) implying 4.43% (monthly contracts expiring in May) move. Historical average move 4.95%.
  • QUALCOMM Inc. (QCOM) implying 6.12% move. Historical average move 4.49%.
  • XPO Logistics (XPO) implying 10.97% (monthly contracts expiring in May) move. Historical average move 8.09%.
  • Avis Budget Group (CAR) implying 12.37% (monthly contracts expiring in May) move. Historical average move 13.93%.
  • Apache Corp. (APA) implying 5.75% move. Historical average move 6.0%.
  • Square Inc. (SQ) implying 7.20% move. Historical average move 7.28%.

Thursday May 2, 2019

 

Economic Calendar

 

  • 7:30 AM EST               Challenger Job Cuts
  • 8:30 AM EST               Weekly Jobless Claims
  • 8:30 AM EST               Continuing Claims
  • 8:30 AM EST               Nonfarm Productivity
  • 8:30 AM EST               Unit Labor Costs
  • 9:45 AM EST               Bloomberg Consumer Comfort Index
  • 10:00 AM EST             Factory Orders
  • 10:00 AM EST             Durable Goods Orders
  • 10:30 AM EST             Weekly EIA Natural Gas Inventory Data

Earnings Calendar:

 

Earnings Before Open

 

  • AmerisourceBergen Corporation (ABC) implying 5.81% move. Historical average move 7.21%.
  • DowDuPont Inc. (DWDP) implying 4.49% move.
  • CIGNA Corp. (CI) implying 5.13% move. Historical average move 3.93%.
  • Arrow Electronics (ARW) implying 5.55% (monthly contracts expiring in May) move. Historical average move 4.45%.
  • Teva Pharmaceutical (TEVA) implying 9.84% move. Historical average move 13.4%.
  • PG&E Corp. (PCG) implying 9.40% move. Historical average move 3.56%.
  • Kellogg Company. (K) implying 5.26% (monthly contracts expiring in May) move. Historical average move 5.72%.
  • Under Armour (UAA) implying 10.77% move. Historical average move 14.55%.
  • Abiomed (ABMD) implying 11.06% (monthly contracts expiring in May) move. Historical average move 8.45%.

Earnings After Close

 

  • Gilead Sciences (GILD) implying 4.65% move. Historical average move 4.74%.
  • Fluor Corp. (FLR) implying 7.02% move. Historical average move 8.44%.
  • CBS Corp. (CBS) implying 4.15% move. Historical average move 4.22%.
  • United States Steel (X) implying 9.06% move. Historical average move 12.84%.
  • Expedia (EXPE) implying 6.95% move. Historical average move 10.22%.
  • Activision Blizzard (ATVI) implying 8.18% move. Historical average move 6.12%.
  • Chemours Company (CC) implying 6.83% move. Historical average move 7.17%.
  • Monster Beverage Corp. (MNST) implying 7.34% move. Historical average move 8.19%.
  • First Solar (FSLR) implying 7.41% move. Historical average move 11.95%.
  • Arista Networks (ANET) implying 8.08% move. Historical average move 12.21%.
  • Tableau Software (DATA) implying 9.33% move. Historical average move 12.82%.
  • Shake Shack (SHAK) implying 8.76% move. Historical average move 10.93%.
  • Universal Display Corp. (OLED) implying 11.88% move. Historical average move 17.88%.

Friday May 3, 2019

 

Economic Calendar

 

  • 8:30 AM EST              International Trade in Goods
  • 8:30 AM EST               Employment Situation
  • 10:00 AM EST             ISM Non-Manufacturing Index for April
  • 1:00 PM EST               Baker Hughes Weekly Rig Count

Earnings Calendar:

 

Earnings Before Open

 

  • Fiat Chrysler (FCAU) implying 6.05% move. Historical average move 6.67%.
  • DISH Network (DISH) implying 8.92% move. Historical average move 7.79%.
  • CBOE Global Markets (CBOE) implying 3.19% move. Historical average move 4.33%.

As always, I’ll be with you throughout the trading week. Now, If you want to work on your options game, check out these recent case studies in ROKU and UBNT. They’re sure to give your trading a boost.