Weekly Market Update for this coming week 25th Jan 2021 - 29th Jan 2021.

Weekly Market Update - Big Tech Earning Report for coming week.

Last Friday, The Nasdaq rose 0.1% to another record close of 13,543.06, supported by Big Tech. The Dow Jones Industrial Average slid 179.03 points, or 0.6%, to 30,996.98.
Dow component IBM drop 9.9% after earnings report came below analyst's expectation. Revenue fell 6% on an annualized basis, the fourth consecutive quarter of declines. Intel shares retreated 9.3% following a 6% pop on Thursday after
it released better-than-expected earnings.

The three main U.S. indexes closed higher for the week, with the Nasdaq up over 4%.

Energy stocks also fell on Wall Street, alongside the price of crude as were weighed down by a build-up in U.S. crude inventories and by worries that new pandemic restrictions in China will curb fuel demand
in the world’s biggest oil importer.

China might experience a second wave of Covid pandemic with cases as Shanghai has imposed lockdowns on two of China’s best-known hospitals after they were linked to new coronavirus cases
https://apnews.com/article/beijing-shanghai-coronavirus-pandemic-asia-china-cdeee6f4f67e5bcc8406afdaeadddf77

U.S. crude fell 1.94% to $52.10 per barrel and Brent was at $55.21, down 1.59% on the day.

Besides, Apple rose another 1.6% Friday, bringing its weekly gain to 9.4%. Facebook and Microsoft also rallied 9.2% and 6.3%, respectively, this week. These big tech companies are scheduled to report earnings next week.
We might see shares start to price in last week for the upcoming good earnings report.
Apple is expected to post its first-ever quarter with more than $100 billion in revenue Wednesday, driven by a strong early performance for its new iPhone 12 line as well as continued
demand for Macs and iPads for remote work and school needs.

For this coming week,

Earnings Data - Kick start of Big Tech earnings report (S&P 500 5 biggest companies: Apple, Microsoft, Amazon, Google, FB).
They are expected to report strong third-quarter earnings in coming weeks during this period of time. As most of us heavily rely on tech during lockdown period such as work from home.

FOMC meeting - Economists don’t expect the Fed to take any action or change in its dovish tone. I expect no changes on the interest rate.

US first woman Treasury secretary - Yellen nomination sails through Senate panel; final vote set for Monday (Bitcoin trader Beware)
https://www.reuters.com/article/usa-biden-yellen/update-4-yellen-nomination-sails-through-senate-panel-final-vote-set-for-monday-idUSL1N2JX1SZ

Review Chart/Trade:

ACB - Aurora Cannabis Raises $125 Million in "Bought Deal" Financing Arrangement caused the shares price to drop last week.
USOil (WTI) - With the increase of crude inventories and curb fuel demand + Resistance from the chart, we expect the price continue to retrace
LU - Recommended two week ago and hit my first TP on Thursday. Continue to hold and ride

Solar - (Clean Energy)
JKS - 3 month of consolidation. Seem like JKS is ready to continue its bullish trend after bouncing off from 100d MA.
MAXN - Congrats to you if you have took my advice to long when price below $22
VVPR - Congrats. Hit TP recently. Seem strong to continue uptrend
ARRY - Review on secret counter. Continue to ride the trend

New watchlist:

EHealth (EHTH) - Watch the video. The chart tell the story

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