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It seems like the only thing that can stop this market from going higher is a holiday. That said, the Nasdaq 100 is at all-time highs, and the Dow is almost back to its October highs.

While I don’t think we crash anytime soon. I do believe there will be opportunities to make money betting against stocks rising, like there was this week in IWM puts.

(I send out my trade-alerts to clients in real-time, if you’d like to receive alerts like this one before the move happens, click here)

However, I’m not ready to make any big market calls yet. As of right now, I’m trading what I see and what the data is telling me.

And for the most part, the data and sentiment was strong this week:

  • Jobless claims hit 50-year lows
  • Retail sales increased from 1.6% to 1%
  • Surprise China GDP numbers (Q1 grew by 6.4%)
  • IPO’s like Pinterest and Zoom crushed it on their first day

That said, with the VIX (the market’s fear index) is at around 12, a drop of 67% from last December’s highs (when everyone was fearing the worst).

However, we’ve been here before…

And with earnings still dominating the schedule this upcoming week, it will be important to listen to companies discuss their quarter and share their insight on future guidance.

Furthermore, we’ll be hearing from the likes of Verizon, Proctor and Gamble, Tesla, Caterpillar, Facebook, Intel, Starbucks, Exxon and so many more.

Read on for the full earnings schedule (which includes implied volatility moves), economic data releases, and charts of the key indices as we approach this major inflection point in the market.

The Markets Are Stalling At These Levels

The markets have been a pretty boring… major market indices – S&P 500, Nasdaq-100, and Russell 2000 – have been trading in a tight range… and volumes for the SPDR S&P 500 ETF (SPY), PowerShares QQQ Trust (QQQ), and iShares Russell 2000 ETF (IWM) have been seeing very light volumes.

However, IWM has been lagging behind SPY and QQQ. Not only that, we saw a bearish crossover last week (blue line crossing below the red line) – as shown in the hourly chart below.

iwm

Now, once I saw this bearish crossover… I bought puts in IWM and had another 100%+ winner.

Key Levels to Watch in SPY and VXXB

Moving on. Here’s a look at SPY on the hourly chart.

spy earnings calendar

As you can see, SPY has been trading between $289 and $291… and traders have been watching the $289 level. You see, there’s some support there – meaning traders and investors are willing to buy at that level. So unless we see the blue line cross below the red line… with the SPY breaking below that key level, we won’t really look to get short SPY.

Not only that, volatility has been getting crushed. Here’s a look at VXXB – a volatility tracking exchange-traded product.

With the CBOE Volatility Index ($VIX) trading around 12… it’s caused VXXB to drop over 13 points. Now, what we’re looking for in this is the blue line crossing above the red line (a bullish crossover) – it’s what I call the money pattern… and a bearish crossover in SPY. Until we see that, we’re going to remain on the sidelines with market plays.

However, that doesn’t mean we’re not trading at Weekly Money Multiplier… we’re looking to buy calls on stocks that we like on dips… and buying puts on the weakest stocks because those are the ones that could fall the most if the market dips.

Right now, the market seems like it’s pausing… and it doesn’t know what to do at these levels. However, there’s going to be a lot of opportunity in the coming weeks with corporate earnings announcements.

We’ve also got some major economic data points coming up next week, so it’ll be interesting to see what the Federal Open Market Committee will say and do in its next meeting announcement on May 1.

That said, let’s take a look at the economic calendar, and the corporate earnings calendar.

Economic Calendar

Monday April 22, 2019

  • 8:30 AM EST               Chicago Fed Nat Activity Index
  • 10:00 AM EST             Existing Home Sales

Tuesday April 23, 2019

  • 7:45 AM EST               ICSC Weekly Retail Sales
  • 9:00 AM EST               FHFA House Price Index
  • 10:00 AM EST             New Home Sales
  • 4:30 PM EST               API Weekly Inventory Data

Wednesday April 24, 2019  

  • 7:00 AM EST               MBA Mortgage Applications Data
  • 10:30 AM EST             Weekly DOE Inventory Data

Thursday April 25, 2019

  • 8:30 AM EST               Weekly Jobless and Continuing Claims
  • 8:30 AM EST               Durable Goods
  • 9:45 AM EST               Bloomberg Consumer Comfort Index
  • 10:30 AM EST             Weekly EIA Natural Gas Inventory Data
  • 11:00 AM EST             Kansas City Fed Manufacturing Activity, for April

Friday April 26, 2019

  • 8:30 AM EST               GDP
  • 8:30 AM EST               Consumer Sentiment
  • 1:00 PM EST               Baker Hughes Weekly Rig Count

Now, there are hundreds of companies reporting earnings this week… but we’re only focused on mid- and large-caps here.

Here’s a look at some of the stocks on our radar this week on the earnings front.

Earnings Calendar

Monday April 22, 2019

Earnings Before Open

  • Halliburton Company (HAL) implying 4.75% move. Historical average move 4.76%.
  • Kimberly-Clark Corp. (KMB) implying 3.08% move. Historical average move 2.73%.
  • W.W. Grainger (GWW) implying 6.73% move. Historical average move 12.02%.

Earnings After Close

  • Whirlpool Corp. (WHR) implying 7.19% move. Historical average move 8.55%.
  • Cadence Design Systems (CDNS) implying 8.21% move (monthly contracts expiring in May). Historical average move 7.77%.
  • Brown & Brown (BRO) implying 4.74% move (monthly contracts expiring in May). Historical average move 3.77%.

Tuesday April 23, 2019

Earnings Before Open

  • Verizon (VZ) implying 2.79% move. Historical average move 3.96%.
  • Procter & Gamble (PG) implying 3.29% move. Historical average move 3.84%.
  • United Technologies Corp. (UTX) implying 3.25% move. Historical average move 3.09%.
  • Lockheed Martin (LMT) implying 3.33% move. Historical average move 3.46%.
  • Coca-Cola (KO) implying 2.63% move. Historical average move 2.92%.
  • Nucor (NUE) implying 3.57% move. Historical average move 3.82%.
  • Sherwin Williams (SHW) implying 4.25% move. Historical average move 4.78%.
  • Twitter Inc (TWTR) implying 10.38% move. Historical average move 17.61%.

Earnings After Close

  • Texas Instruments (TXN) implying 4.81% move. Historical average move 5.30%.
  • Stryker Corp. (SYK) implying 6.19% move (monthly contracts expiring in May). Historical average move 5.0%.
  • eBay Inc. (EBAY) implying 5.67% move. Historical average move 6.95%.
  • TD Ameritrade (AMTD) implying 3.55% move. Historical average move 3.61%.
  • Canadian Pacific Railroad (CP) implying 4.95% move (monthly contracts expiring in May). Historical average move 3.51%.
  • Hawaiian Holdings (HA) implying 10.93% move (monthly contracts expiring in May). Historical average move 8.86%.
  • iRobot Corp. (IRBT) implying 12.93% move. Historical average move 19.01%.

Wednesday April 24, 2019

Earnings Before Open

  • AT&T Corp. (T) implying 3.43% move. Historical average move 5.31%.
  • Boeing Co. (BA) implying 4.63% move. Historical average move 5.39%.
  • Anthem (ANTM) implying 6.95% move. Historical average move 6.72%.
  • Caterpillar Inc (CAT) implying 4.95% move. Historical average move 6.83%.
  • Novartis (NVS) implying 4.87% move (monthly contracts expiring in May). Historical average move 2.9%.
  • General Dynamics (GD) implying 3.65% move. Historical average move 5.51%.
  • Northrop Grumman (NOC) implying 3.91% move. Historical average move 4.55%.
  • Biogen (BIIB) implying 5.19% move. Historical average move 4.4%.
  • Nasdaq Inc (NDAQ) implying 4.22% move (monthly contracts expiring in May). Historical average move 2.44%.
  • Domino’s Pizza (DPZ) implying 8.71% move (monthly contracts expiring in May). Historical average move 6.88%.

Earnings After Close

  • Microsoft (MSFT) implying 3.60% move. Historical average move 3.86%.
  • Facebook (FB) implying 5.99% move. Historical average move 8.37%.
  • Visa (V) implying 3.13% move. Historical average move 3.22%.
  • PayPal (PYPL) implying 5.64% move. Historical average move 7.02%.
  • Tesla (TSLA) implying 9.04% move. Historical average move 9.07%.
  • Xilinx (XLNX) implying 8.24% move. Historical average move 9.49%.
  • F5 Networks (FFIV) implying 5.97% move. Historical average move 6.40%.

Thursday April 25, 2019

Earnings Before Open

  • Valero Energy (VLO) implying 3.78% move. Historical average move 3.80%.
  • Comcast Corp. (CMCSA) implying 3.28% move. Historical average move 4.60%.
  • United Parcel Service (UPS) implying 4.46% move. Historical average move 5.08%.
  • 3M Company (MMM) implying 3.54% move. Historical average move 5.32%.
  • AbbVie Inc (ABBV) implying 4.46% move. Historical average move 6.85%.
  • Raytheon Co. (RTN) implying 3.09% move. Historical average move 3.78%.
  • Altria Group (MO)  implying 4.45% move. Historical average move 2.92%.
  • Bristol-Myers Squibb (BMY) implying 4.09% move. Historical average move 4.44%.
  • Southwest Airlines Co. (LUV)  implying 5.56% move. Historical average move 6.95%.
  • D.R. Horton (DHI) implying 5.56% move. Historical average move 5.94%.

Earnings After Close

  • Amazon.com Inc. (AMZN) implying 4.32% move. Historical average move 7.09%.
  • Ford Motor Company (F) implying 4.71% move. Historical average move 4.62%.
  • Intel Corp. (INTC) implying 4.45% move. Historical average move 6.65%.
  • Capital One Financial (COF) implying 4.27% move. Historical average move 4.74%.
  • Starbucks Corp. (SBUX) implying 4.09% move. Historical average move 5.81%.
  • Juniper Networks (JNPR) implying 6.35% move. Historical average move 9.05%.
  • SkyWest (SKYW) implying 8.57% move (monthly contracts expiring in May). Historical average move 11.01%.
  • Illumina (ILMN) implying 6.00% move. Historical average move 7.53%.
  • GrubHub (GRUB) implying 14.59% move. Historical average move 19.89%.
  • Shutterfly (SFLY) implying 12.70% move (monthly contracts expiring in May). Historical average move 12.82%.

Friday April 26, 2019

Earnings Before Open

  • Exxon Mobil Corp. (XOM) implying 2.43% move. Historical average move 3.66%.
  • Chevron (CVX) implying 2.82% move. Historical average move 3.78%.
  • Sony (SNE) implying 5.75% move. Historical average move 8.33%.
  • Sanofi (SNY) implying 6.10% move (monthly contracts expiring in May). Historical average move 2.3%.
  • AstraZeneca (AZN) implying 3.87% move. Historical average move 5.51%.
  • Colgate-Palmolive (CL) implying 3.71% move. Historical average move 3.96%.
  • American Airlines (AAL) implying 5.59% move. Historical average move 6.95%.

Now, if you’re looking for real-time alerts, and potential trade ideas in stocks after they report earnings, click here.

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