Tech Earnings Crash: Who's Next?

Summary

The market is reacting to both a surprisingly strong jobs report and a slew of earnings, particularly in the tech sector. While the jobs report initially boosted stocks and lowered yields, earnings reports are causing significant volatility. The S&P 500 is nearing recent highs, with a potential target at an ascending trendline. The Nasdaq 100, or QQQ, is attempting to re-enter a prior channel, facing resistance around 708 due to being overbought. The IWM shows less strength, with resistance at 287 and support at 278. The SMH continues to surge, potentially heading towards $586, but a significant pullback is anticipated after its recent gains. Gold and silver are seeing modest gains, with resistance levels identified for both. US oil is down on potential peace deal news, needing to hold $94.95 to maintain upward momentum. Natural gas is sideways, aiming to break above $2.90. Bitcoin is consolidating, with key support at $79,523 and $78,574. In earnings, Akam is strong, potentially heading to $207.50 after breaking resistance. Coreweave (CRWV) is struggling, with its AI infrastructure not yet profitable, needing to hold $100 to avoid further decline. Iron (IEN) is up on an Nvidia partnership and data center build-out, with resistance at all-time highs near $77. Cloudflare is down significantly due to layoffs and a shift to an AI-first model, with support at $200. TTD is also down after an EPS miss and weak guidance, with a major support level at $15.88. Hubs is dropping on earnings despite beating revenue and earnings, with support at $162.20.