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Closing Market Report: Jan. 24th, 2024

The "Market" eked out another gain today, however breadth on both exchanges ended firmly negative.

Tesla earnings are out after hours:

Earnings: 71 cents per share adj. compared with the 74 cents per share expected

Revenue: $25.17 billion compared with the $25.6 billion expected

That's a miss on both the top and bottom lines as far as I can figure.

So far, the stock is trading down in the after hours.

A few hours ago, I put out a red alert on the Tech sector as one semiconductor stock after another - AMAT, KLAC, AVGO, NVDA, ASML was going late stage parabolic.

Also today, Microsoft reached $3 trillion in market cap and then left a shooting star doji on the gap open. which is begging for an island reversal of fortune.

And finally, yesterday was the highest ISEE call/put ratio since the 2021 high:

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