Trading Insights: Pick an index or your favorite individual stock - It’s earnings season

Source TradingView July 14th 2023 8:02 AM UTC

Market Commentary

Earnings Season starts today and is a highly anticipated time in the financial markets

• Earnings season is the period when publicly traded companies release their 3 month financial results
• Companies disclose information such as revenue, earnings per share, profit margins, and other key financial metrics
• Dowjones 30; SP500; US100 and VIX increased price action expected across US stock indices during important earnings announcements

Dowjones 30 trading near its 52 week highs

The Dowjones 30 Index is the benchmark index of America’s largest 30 publicly traded companies.

Dowjones 30 current price $34,398 faces resistance ahead of current price near $34,702 (52 week high). Above the $34,702 level increases the upside prospects for an extension toward the $36,750s over the next 100 days, while downside risk is seen below the $33,590s (see chart).

The Who’s Who of US financial services on deck to report earnings today, including:

Source: Tradingview July 14 2023 8:15 UTC

The above table indicates the expected earnings per share estimate for the companies that are due to report.

Indices to keep an eye on during earnings season: SP500, Dowjones 30, and the US100.

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Today’s economic calendar

Source: TradingView / J. Knobel July 14 2023 7:16 AM UTC

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Technical trade idea: AUD/USD

Technical commentary:

AUD/USD current price 0.68739. Very strong upside move spotted on the daily chart after price support at the 0.66 level proved true (see chart). Current price is testing the key resistance level near 0.69, which if price can successfully overcome, could place the 0.7030s as a possible extension. Downside risk seen below the 0.66 key support.

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