PRE MARKET-EARNINGS ROULETTE

Tons of jello moving on the plate this morning. In no particular order but of course, we start with Apple.

Apple (AAPL) beat estimates in a quarter before a big roll out. At the open, AAPL will be gapping out of a 12 week sloppy base. This is the 2nd strong gap in 6 months. The one in January worked well. We have been told a second big gap to the upside within a year is a “be careful” sign. We’ll let the market decide.

Because of Apple, NDX futures up over .5%. Interestingly, S&P futures basically flat. DOW futures up but that’s on Apple. Apple suppliers like CRUS, QRVO, SWKS and others are up.

ILMN gaps up to a high…up $19.

Other gaps to the upside:

ALL, GRMN, CRTO, HUM, PZZA.

On the downside…WOW!

COHR down $35 off the highs…ULTI down $29 off the highs. MTSI down $13…leading SEMI off the highs…PXD down $14…

Smaller but decent sized gaps to the downside: BGFV, HLF, FISV, AN, RIO, SSTK, FARO, RMD, MRCY, VMC, RACE, CAH, DLPH.

Enjoy! Earnings roulette continues.