Week of 01/23-01/27 Strong Market Rally, S&P 500 led by Tesla earnings

The three major stock indices closed higher on Friday, closing a green streak that might signify of a strong bull run. After re-testing both resistances at SPY 394 and 400 points levels, the market finally broke to the upside with Tesla earnings beating revenue expectations and production plans for Cybertruck production this year. Multiple earnings news speculate growth in the tech sector and NVDA getting sympathy momentum and breaking 200dlls on Friday. After many stocks got beat down last year, including Tesla losing 60% value, a light at the end of the tunnel was seen as many stocks saw gains upwards of 10% today.

The Federal Reserve is set to make an announcement next Wednesday that could boost the current bull run if it is decided that there will be no interest rate hike soon. Meta has earnings next Wednesday and Amazon, Alphabet, as well as Apple report earnings on Thursday. Make sure to assess your risk since we most likely will experience a volatile week coming up.