$QQQ TOP 20

Earnings season can be influenced heavily by a few heavy hitters and $TSLA has been one of those companies that tends to report earlier than their other Mega Caps and sometimes sets the tone for the rest of the season.

I spoke at length about $TSLA under its chart, so please review this chart before their earnings this Weds.

If earnings season shows that the US Top 500 companies continue to beat and show growth, I do not see how the market does not move higher until the end of the year, with a post election rally

A weak earnings season and weak guidance would put enormous pressure on the $QQQ and $SPY to move higher and we could see the same sell off as we saw in last seasons reports.

Right now the price is at the last Fib resistance level at $494, holding above this level and the $503 ATH level is next.

This week features several major companies reporting their earnings, which is generating a lot of attention. Some of the key reports to watch include:

• Tesla: Reporting on Wednesday, analysts are expecting earnings of $0.58 per share, with revenue projected to hit $25.3 billion. Investors are curious whether Tesla's report will reverse its recent stock slump, like we said under their chart, they need no blemishes, it needs to be good.

• Coca-Cola: Also reporting on Wednesday, with earnings expected at $0.75 per share. The company’s performance amid inflationary pressures will be closely watched.

• Boeing: Expected to post a substantial loss, with an estimated EPS of -$7.87, also reporting Wednesday. All we want to see here is $BA holding above $146 and I believe the worst is factored in now.

• Texas Instruments: Reporting on Tuesday, with an EPS estimate of $1.38, this semiconductor giant's performance will provide insights into the chip industry.

• ServiceNow: Reporting Wednesday, expected to post earnings of $3.45 per share, focusing on the tech sector.