NQ testing breakout zone after smart pull back
Late afternoon yesterday (7/25) the market took a hit on $WMT guidance cut. There appears to be a trend of worsening earnings, macroeconomic data is deteriorating and inflation is running rampant. Nothing on the surface suggests this market should move higher, which in-fact is the reason I am now slightly more bullish that we will see a 1-2 day squeeze from current levels. Lots of economic data this week with the Fed and earnings. Tighten up stops and do not get comfortable.
$MSFT Microsoft Q4 22 Earnings:
- Rev: $51.9B(exp $52.45B)
- Adj EPS: $2.23(exp $2.29)
- Q4 Commercial Cloud Rev. $25b,Est. $24.99b
- Q4 Productivity Rev $16.60b,Est. $16.68b
- Q4 More Personal Computing Rev. $14.36b, Est. $14.67b
- Q4 Intelligent Cloud Rev. $20.91b,Est. $21.07b
Guidance for FY23 revenue growth in double digits saves the earnings miss.
$GOOGL Q222 results disappointing, the stock jumping as much as 5.7% after hours as results weren't as worse as feared. Cloud growth slowing to 36% from 44% in Q122.