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Mike Paulenoff

Reactions To PFE and MCD Earnings

Tue Oct 29th 2024
Good Tuesday Morning, MPTraders!  October 29, 2024-- Pre-Market Update: Three trading days remain in October... Several major Earnings Reports will be released today (see Calendar Below)... So far this morning, PFE and MCD reactions to earnings are on my radar (see below). Election Day is one week from today... The so-called Trump Trades perform well: DJT (wow!) and BTC, while ES (December E-mini SP future) levitates in a high-level digestion pattern...PFE (Pfizer):Pfizer reported third-quarter revenue and adjusted profit that blew past expectations.The company hiked its full-year outlook as its Covid vaccine and antiviral pill Paxlovid helped boost sales.

Bullish above today's low

Thu Oct 24th 2024
The market continued to drift higher following yesterday's close, putting in a local top pre-market this morning and initially selling off right after the open. As price reached the .618 retrace of the bounce off yesterday's low, I sent out an alert to look for a corrective pullback to potentially complete there. Price did indeed turn up from that support and produced a micro 5 waves up from the noon low, so as long as today's low holds moving forward, price is setup to attempt more near-term upside.

Who Blinks First?

Mon Oct 28th 2024
I outlined earlier today in an alert that there are two paths for the bulls, whereas only one for the bears.  So, let’s review them.The first and most immediately bullish path for the bulls is for the market to rally over the b-wave high on the 5-minute chart, and potentially complete a leading diagonal for wave i of ii.

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