The S&P 500 went on to set new record highs Friday, supported by a slew of positive earnings reports from the likes of Alphabet (GOOGL), Intel (INTC), Starbucks (SBUX) and McDonald’s (MCD). And it’s not just high-profile stocks that are impressing the Street. More than two-thirds of S&P 500 companies that have announced earnings so far have beaten estimates, according to FactSet.
So, it would seem fears that a lackluster second-quarter earnings season would test the market’s rally were unfounded… at least so far.
And this gets back to the heart of why I don’t play earnings. I’m all about consistency. And earnings reports — and traders’ reactions to them — are nothing if not inconsistent.
It’s far too easy to get it wrong when betting on earnings… and I’m in the business of getting it right!
Speaking of that, July is shaping up to be another great month here at Daily Profit Machine. All but three of my Trade of the Day alerts had the chance to make traders some serious money. In fact, the average max potential return for those trades is 56%… a day.
I’ll share the final numbers with you next week once we close out the month. But today, I want to share a few of my favorite recent tweets from members.
I don’t do this to brag. Rather, I am humbled by their words and simply want to give you a sense of the community we’ve built at Daily Profit Machine, which I am immensely proud of.
I am also incredibly proud of how these and other members have grown as traders.
In my effort to help them on their journeys, I’ve been including daily Premarket Videos in addition to my Trade of the Day, which is sent every morning 30 minutes prior to the opening bell.
These videos allow me to show traders what I’m seeing on the charts each day. They also provide the opportunity for extensive coaching that can help them become much more efficient and profitable traders. And they’ve been a huge hit with members.
My next Premarket Video update will be released Monday around 7 a.m. ET. In it, I will tell traders what they can expect for the day ahead and give them the key support and resistance levels to watch. This is crucial information that can be used to guide your trading.
The Premarket Video will be followed by the Trade of the Day, which I send at 8:30 a.m. ET. It will be the trade I believe is the single best opportunity for that day based on what I discussed in the Premarket Video.
As you can tell from the comments above, this strategy is truly working for people. If you’re ready to take the next step and join a community like ours, I sincerely want to have you.
Next week is likely to be an interesting one. The Federal Reserve is set to meet midweek and traders are expecting an interest-rate cut. If the Fed doesn’t oblige, look out below.
Plus, earnings season will continue in force, including Apple’s (AAPL) announcement on Tuesday. If the tech giant doesn’t meet or beat estimates, we could see Wall Street’s disappointment ripple through the market.
But don’t worry. I’ll be here to show you how to navigate it all… one day at a time.
America’s #1 Premarket Trader,