Delta reports earnings this week. The stock market will watch. Analysts will nod. Retail traders will check their portfolios seventeen times before lunch and somehow still miss the actual move.
The headline promises three big things. It delivers one company name. The other two big things remain a mystery, floating somewhere in the original article like a fart in an elevator. Everyone knows it's there. Nobody wants to acknowledge it.
Delta flies planes. People sit in those planes. Sometimes the planes make money. Sometimes they don't. This information will change exactly zero technical levels on any chart worth trading.
Here's what happens every earnings week: Financial media announces the big reports. Retail traders write down the tickers. They study the fundamentals. They read analyst notes. They calculate price targets based on forward guidance and sector multiples. Then the stock does whatever it was going to do anyway because none of that sh*t matters and the chart already knew three weeks ago.
Support and resistance don't care about quarterly revenue. Fibonacci retracements don't read earnings transcripts. The 200-day moving average doesn't give a f*ck about your three big things.
Some poor bastard is currently building a watchlist for this week. He's got Delta at the top. He's got two mystery stocks beneath it that the headline forgot to mention. He's ready to trade the news. He's done his research. He's about to learn that the market makers saw his stop loss from space.
The chart told you where Delta was going last Tuesday. You were too busy reading articles about what to watch this week.
Photo by Tyler Prahm on Unsplash
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