Strategy Update (2024-02-25)

Past week dominated by Nvidia earnings report which has helped to keep the current stock market uptrend intact.

Despite some weakness on Tuesday and Wednesday, the Alpha Signals strategy remained on a green signal.

The past week was dominated by Nvidia earnings report (on Wednesday after the market close) which almost alone triggered another leg up in the market, keeping the continuation of the current uptrend intact.

NVIDIA was the most watched stock in the market and "saves the world"
NVIDIA was the most watched stock in the market and "saves the world"

In general, the bearish sentiment and short interest on the "Magnificent 7" remains at the lows meaning there's still appetite for tech stocks and risk-on environment, favored by the expanding corporate earnings and the optimistic economic outlook.

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As we approach the end of the earnings season we could see the market to cool down a bit, will continue to monitor and react in case the strategy signals a change of trend (from green to red).

The most anticipated earnings releases for the week of February 26, 2024 are Marathon Digital #MARA, Snowflake #SNOW, Salesforce #CRM, Unity #U, AMC Entertainment #AMC, Zoom Video Communications #ZM, Celsius #CELH, Devon Energy #DVN, Zscaler #ZS, and C3.ai #AI.
Earnings for the week of February 26, 2024

Source: https://twitter.com/eWhispers/status/1761040079991042070