Earnings Put the Bulls to the Test
by Tony Rago
GOOGL and TSLA both reported last night, and both stocks are trading lower pre-market. TSLA’s cash flow moved negative, while GOOGL’s EPS got a boost from unrealized gains as capex surged to more than $44 billion. Now the real question is how the market digests those numbers once the opening bell rings. We’ve seen bulls consistently defend the bottom of this range, but today’s earnings reaction could put that support to the test. If buyers are going to keep this range intact, they need to show up when it matters—not just in the overnight session.
My plan is to let the market open and use the opening ranges for guidance. With major tech names under pressure, I want to see whether buyers step in and absorb the weakness or if sellers finally gain enough momentum to break the range. There’s no need to predict it ahead of time. Let price show us who’s in control, stay patient around the key levels, and trade the reaction rather than the headlines. Let’s see what the bell brings and go from there.
👉 Full breakdown is inside today’s Pre-Market Playbook.
Check it out here and trade it smart.
Until next time,
Tony
