SPX

Tomorrow is a big economic day with the much anticipated GDP before the open and FOMC Announcement later in the day. So I decided to stay away from reviewing my watchlist since the plays will be aggressive anyway. I'm happy to do so because of the weird price action over the past few weeks. It's been a frustrating period.

AKAM EARNINGS PREVIEW:
Reports tomorrow after the close. The fundamentals look solid. I will score it at 10 out of 10. Also, in the last eleven quarters, it has beaten estimates ten times. The one exception came in line with expectation.
On the technical side, it is strongly in favor of the bulls (see my weekly and daily charts).
So, based on the fundamentals and technicals, I believe it will run up after it reports.
I will therefore be buying September Call options going into earnings.
Assuming it moves up, I will exit the play on Thursday if it closes any candlestick below 5ema on the 15minute chart. I will then look to buy Put options if it confirms.
Note that the 5ema becomes useless after Thursday. I use it ONLY on earnings day.

YELP EARNINGS PREVIEW:
Reports after the close tomorrow. The fundamentals look bad. I will score it at 3 to 4 out of 10. Technically, it is more bearish than bullish (see YELP-DAILY).
I will buy September Put options going into earnings. Assuming it moves lower, I will exit the play on Thursday if it closes any candlestick above 5ema (preferred) or 10ema on the 15minute chart.
Another factor that goes against Yelp is the fact that other social media stocks like Facebook and Twitter performed well on earnings. The pressure is now for it to perform. Failure to do so will result in serious trouble.

AKAM-WEEKLY


AKAM-DAILY


YELP-DAILY


SPX-DAILY VI


SPX-DAILY V


SPX-DAILY IV


SPX-DAILY III


SPX-DAILY II


SPX-DAILY I


SPY-15MIN