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AAPL, AMZN, AMD Are in Focus This Week
S&P tries to rebound from Thursday's bearish reversal
Danny Riley
July 31, 2023
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Our View
We ended the week on a tricky two-day sequence. Thursday’s gap-up put us at new YTD highs, but the ensuing flush ended as a bearish engulfing candle, where Thursday’s open was above Wednesday’s high, but Thursday’s close was below the prior session’s low.
That’s nasty price action and caught a lot of investors off-guard. But on Friday, they gapped it up again, catching all the late-day shorts offside as well.
Today’s the last day of July, so we could see some early month in-flows give the markets a boost this week. Of note, we have AMD and SBUX reporting on Tuesday and then the big ones: AMZN and AAPL reporting on Thursday evening.