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Good Monday Morning, MPTraders! July 13, 2026-- Pre-Market Update: An event-filled week is starting, with likely market push-pull cross-currents from new inflation data (CPI and PPI), from Fed Head Warsh comments in his Semi-Annual Monetary Policy Report before Congress, and from Earnings reports out of the Banking Sector starting tomorrow morning: Earnings: Tuesday: J P Morgan Chase Co, Bank of America, Goldman Sachs, Wells Fargo, CitigroupWednesday: ASML, Johnson Johnson, Morgan Stanley, BlackRock, The Bank Of New York Mellon, PNC Financial Services, Elevance, Cintas, United AirlinesThursday: Taiwan Semiconductor, UnitedHealth Group, GE Aerospace, Netflix, Abbott Laboratories, State Street, Citizens FinancialFriday: The Travelers Companies,
Some companies are hard to analyze because there is not enough information. Oracle has the opposite problem. There is plenty of information — and it points in two different directions at once.Lyn Alden, whose fundamental work needs no introduction from me, framed it this way:"Oracle is a tale of two charts: earnings and cash flow.From an earnings perspective, including forecasted earnings by consensus analysts, Oracle has come down from its overvalued peak. If their AI investments pay off in the years ahead, then Oracle is positioned to do well, and no longer in a bubble of extreme sentiment.
After moving lower yesterday, today we saw the market move back higher. However, after what looked like a strong open, it faded back down quite quickly. We have since been grinding higher through the afternoon session; however, the structure of that move higher is very sloppy and not typically what we see when the market is ready to make a sustained break higher. In the end, we are left in a very similar position to where we were yesterday, still trading above support and below the previous high.
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