Tackle Today Stocks in the News - DELL / MRVL / LULU / ULTA / INTC

tackle today Justice Brothers bringing you all of the charts analysis news reports that you need in a concise manner so that you're aware of everything happening in the market before we dive into uh a consolidation pattern that the S&P 500 is having a hard time breaking out of want to talk a few seconds about the tackle trading newsletter we release this every Friday it is a fantastic indepth newsletter covering Matt just about everything you and I put together this newsletter uh tell me what uh tell me a little bit about this newsletter before we get started yeah every single Friday we release the newslet to our community and what what Our intention is is we try to make sure our community is fully apprised of all the information that's coming into the market on a week in week out basis so that they can execute their trading systems and trading philosophy with confidence uh every single week we give a technical update there's a video that goes along with the technical update we talk about the uh earnings environment what companies came out the positive earnings the negative earnings so you can have a really good understanding of the earning side of the equation we get people ready for the uh Market on a week in week out basis we always have you know different articles in the newsletter to help people understand kind of that major news that's happening we go through the sector rankings and we talk about what sectors are getting upgraded and downgraded we uh make sure that people have an understanding of exactly what is happening uh we talk about the economic landscape it's a it's a beefy newsletter with a Chuck full of a lot of information we try to inform and educate on a week in week out basis and so if you uh if you're looking for a uh quite frankly one of the better newsletters in the market uh something that will both educate and inform uh every single week uh definitely come over to tackle trading and uh check it out yeah I know we are both very proud of this work uh just one of the many reasons to be a part of this fantastic Community Matt resistance is resistance for a reason uh we're trading now in what is uh turning into a twoe consolidation pattern pretty tight range still holding the 9 EMA uh but uh this consolidation pattern can't last forever but it lasted this week didn't it it it it did last this week and I was a little surprised at that I thought we were going to get a little bit of more uh volatility after we got nvidia's earnings report and and quite frankly quietly there's a lot of important names reporting earnings just today Dell marll Lulu Ulta obviously we had Nvidia crowd strike earlier in the week we had the GDP report we had pce here today that you're going to talk about there was a lot of information that came into the market this week and the market didn't a bud resistance absolutely is difficult to break but but at some point you got to break because at some point you have to give up this the 9em here as you can see it's getting really tight 9em which is obviously acting as a little bit of support is right there at 558 559 overhead resistance 565 that's really really tight range we're talking about individual candles are are kind of touching both ranges of support and resistance you certainly expect to break out or a pullback at this point really quickly uh because the market can't consolidate in this type of a range for uh for a very long time one either one the 90 9em has got to give out and you would be looking at pullback analysis at that point with support around 550 or two you're looking at a break out of 565 with momentum so that that's kind of the technical conversation going into next week yeah I mean and technicals I mean that is probably one of the main stories as we head into next week labor market week uh we'll talk about that here in a second NASDAQ showing a little uh outperformance today uh but uh not a lot of change in the general like feel for the NASDAQ are you seeing anything specific here uh the only thing I'm seeing is markets that are trying to test up and a little bit of relative outperformance on the NASDAQ but you also had a lot of earnings come out on on technology type names today that's having impact on that um you're also coming from the lower Point versus the S&P but I I think you're you're splitting hairs a little bit you're you're kind of running on the same gasoline Market's testing up Market test up against resistance in the spiders Market actually tried to confirm yesterday Market is having a difficult time holding that bid this week and that's a little bit concerning when you see the Wix test up and then come back down Wix test up come back down but overall I do do think it's an improving condition you see it kind of a a little bit choppy on the intraday you're trying to get back up above that trend line if you could have hold that that's a pretty good situation on the NASDAQ you tried to get above that trend line again today on the cash open couldn't hold that bid coming right back down so Market is having a little bit difficult time holding a bid but you're also not too uh too concerned uh as of right now just given the fact that you're you're tracking a retracement here and you're waiting on some degree of confirmation once again that confirmation on the spiders could be above 565 confirmation on the NASDAQ you're dealing with a little bit of a different pattern so you're simply looking at the previous day's High saying all right confirm here and then we got something to we got something to talk about that's the conversation really technically is the Market's trying to confirm cannot hold that bid right now so it hasn't confirmed the uh the the bullish uh bullish retracement here yeah I mean Market really feels like it's looking for a catalyst something to excite it uh Matt the economic de added today was reinforcing of the FED narrative that we're cutting inflationary data came out right in line with expectations I know one of my brother's favorite charts in the market is this chart he's showing right now where basically uh the tataa just comes in line with expectations like it just Nails he gets the biggest kick out of this well I I I I get the biggest kick out of it because we we try to make a a mountain out of a MLL hold sometimes in in in the financial world in the news in general and that's uh credit to our wonderful media environment in America um but but I was sitting in the lounge yesterday and we were talking about expectations for the pce report and there was a little bit of concern and basically I just said I don't know what everybody's a little bit concerned about this puppy's coming in at 0 two tomorrow and you said it in the lounge and here we are seven out of the last eight months exactly in line with expectations yeah so don't don't paint me surprised on the point two here today because I think that was uh that was baked into the into the market here so I I I I don't think we're having a pce conversation I think we're having an earnings conversation more than anything today yeah absolutely and next week is labor market week where we have ADP data unemployment claims jolts report and then of course the big one the monthly unemployment report on Friday markets are closed on Tuesday and so we're going to get a lot of economic data next week uh certainly can provide I will be shocked if the S&P 500 is in this range uh either we're going to pull back or we're going to break out on labor market week next week I feel very strongly about that uh but while we're waiting for those macro stories to unfold always going to have individual stock stories uh as Matt said a lot of uh lot of earnings reports uh who are the three you're reporting on today yeah there was quite a bit of stocks in the news and I'm going to do a little bit more than three today because I do little rapid fire I I am I'm going to Rapid Fire I couldn't choose so I'm just going to go down the list here today and uh it it was an earning day but we have a couple other news items to quickly cover as well first and foremost Dell Technologies did report earnings here today and they had a pretty good earnings report as they come in with the 7% beat against CS Revenue uh beat the expectation by about a cool billion dollars he also had 9% Revenue growth year-over-year and the increased forward-looking guidance we're having a couple good conversations in the tech space regarding hat tricks being pulled this week Dell also pulls off a hattick coming from the low Point looks pretty good on a potential breakout coming off that 200 day moving average is Dell when you're looking at some other Tech counterparts in the market here today one I was anticipating a little bit was marll and and the question I had on Marvell was can they can they create something here can they create some magic here and get into that conversation uh with with some of those other high-flying semiconductor uh components is because even though marll hasn't done much for the last year and a half or so this is a company that can absolutely fly from 2019 through 2021 this was one of the biggest stocks in the marketplace can they create some magic here I don't know as they come in with a with an inline expectations 30 cents against 30 cents expectation they had a 5% Revenue decline year over-year but they did come in line with the actual number they did increase guidance so we're deal with a little bit of a lukewarm mixed report here but they did increase the range of guide EPS guidance it was 35 cents for next quarter they increase that to 35 by 45 cents for next quarter so they do have some degree of confidence moving into the into the next quarter but a tough technical conversation here as you did Gap up above the uh above resistance traded back down definitely needs to go through a little bit of pattern development now a couple concerning reports in my estimation on the health of the consumer not necessarily the company itself but we did get a couple uh companies report in the retail space as well and two fairly large companies number one you had Lulu Lulu reported earnings and they came out with a with a 4% beat against EPS they did come in above the expectation uh excuse me below the expectation on Revenue but 7% Revenue growth year over year they also decrease forward-looking guidance a little bit of concern in in the retail space and I've heard a lot of criticism in a in a few earnings reports recently about the health of the consumer I'm just going to say there's also been a lot of data points to go to the positive nature of the of the of the consumer and I'm just talking from a from an earnings perspective yeah Best Buy yesterday for example exactly for every Lulu you have this lowering guidance you have a Best Buy the increase guidance right and so it's it's one of those areas of the market that is a market in and of itself and so I wouldn't take too much on the health of the consumer consumer regarding you know what what what Lulu and Ulta is doing here but it is a mixed environment from an earnings perspective and the health of the consumer so Lulu officially lowers guidance what about Ulta remember Warren Buffett took a position in Ulta and that's what resulted in the Gap up situation just recently but they have been under pressure from a from a fundamental perspective for a while now does Warren Buffett see something here was the was the question well their EPS came in officially at a Miss -2% against expectation Revenue came in underneath expectation and they decrease forward-looking guidance they are very lucky they have Warren Buffett on the on the board here because I think this is a gap down situation a little bit more than what we are seeing in the market pretty uh pretty nasty look from an earnings perspective coming out on Ulta quite frankly and then a couple other just quick stock stories uh very quickly in inel is looking to do a little bit of how little bit of reorganization I want to say uh uh Intel is exploring strategic options with investing communities out there they're they're kind of going out to the banks out there looking for some capital and looking for some strategic options on turning this company around and they're looking at even segmenting some of their reporting segments as well maybe spinoff some of their their segments it's going to be interesting conversation on Intel obviously Intel had a horrific earnings report recently they're trying to recover that's going to be an interesting story to track over time also Alibaba in the news a little bit they are one of the tackle 25 components alibab is in the news as they as the shares Rose because Chinese Regulators announced that they are now completing their three-year regul regulatory recertification process that's something that's been a little bit concerning on a lot of these Chinese components making sure that they're reporting their earnings that are based on us standards of of transparency and accuracy Alibaba re uh uh confirmed that they went through that recertification process and that is through the market as well and that's what we got for stocks in the news like I said had a little bit more than we typically talk about in tackle today but we're not having a lounge here today so I wanted to get the stocks and the News through yeah crypto and commodities down across the board uh let's start with gold who has its own consolidation pattern that it has been uh developing over the last couple weeks uh clear resistance uh level uh giving up the nine uh I know from a long-term perspective this is just a technical thing uh but labor market data next week as well I I just cannot see any of these major markets holding these ranges they're either going to break up or break down next week on labor market data what are you seeing from a technical perspective yeah rinon repeat the S&P 500 conversation resistance is tough to break and we see resistance hold here again on gold but again I it really doesn't change the pattern for me you're talking about a breakout at this point you're talking about a breakout in the S&P so you just got to be waiting on a breakout and if it doesn't break out the path of least resistance is a pullback yep and uh we go through uh seeing General weakness just fire through the rest of the commodity charge for us uh from a technical perspective yeah a little bit of a little bit of pullback analysis here in silver is it did try to get up and go and now you're looking at a little bit of pullback look at that 29 level that's right where the 20 period moving average for a little bit of support on the copper side of the equation still hovering around that 42 level still kind of tracking between the uh 50 period moving average and the 200 day moving average that's a breakout situation above the 50 period moving average on copper and and a lot of what's happening in the commodity Market here is because of what the dollar is doing quite frankly Commodities are going to pull back when the dollar starts to go through bearish retrace I wouldn't get too concerned about the Commodities pulling back here unless the dollar starts doing something a little bit on the deeper retracement side but this is just a technical move on it feels like an oversold bounce right that's that's that's all you're seeing is you're seeing an oversold bounce on the dollar the dollar strength over the last three days is impacting the commodity space and so that's that's really what's happening so the question is all right what happens to the Commodities if if we confirm this bearish retracement on on the dollar that would actually be a really good look uh for the Commodities in that environment so I'm not going to get too concerned about them simply because the dollars retracing here now listen we got a lot of work to do in the tackle trading newsletter that we will be releasing in a few hours for our 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