The 1 Sector To Watch This Week
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This week is a big week when it comes to earnings reports. During this week, nearly half of the S&P 500 are reporting earnings in what should definitely move the market. Some of the bigger names getting ready to drop earnings are the big tech companies like Microsoft (MSFT), Google (GOOGL), Meta (META), and Amazon (AMZN).
The weight these companies bring to the table should be enough to move the market and unclog the plumbing that has led to this congestion period we have seen over the past few weeks.
Technology Select Sector SPDR ETF (XLK)
Naturally, this means we are going to be putting the Tech sector on our radar for the week. With the way many earnings have surprised the market with all that is going on in the economy, there is a very real possibility that these companies post better-than-expected earnings results, a positive shock to the market.
However, the opposite can also be true in a market as unpredictable as this. Earnings reports could underwhelm, in which case, these stocks would most likely fall. If the market has another leg to push upward, any decline in the price of these stocks could set us up with a good entry for them to reclaim their pre-earnings prices.
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