EB Weekly Market Report- Monday, April 27, 2026

Tom Bowley - April 27, 2026

ChartLists/Spreadsheets

The following ChartLists/Spreadsheets were updated either late yesterday or earlier this morning and have been updated on our website:

Strong Earnings (SECL)
Strong Future Earnings (SFECL)
Raised Guidance (RGCL)
Bullish Trifecta (BTCL)
Leading Stocks (LSCL)
Matt's Hot Stocks (HTCL)
Upcoming Earnings
Upcoming Earnings Relative Strength

The above ChartLists and spreadsheet have been updated through Friday, April 24th. You can view and/or download these ChartLists from our website, and also read about them to gain a better understanding of how they can help in your trading success. The Key Manipulation Spreadsheet is the only thing I wasn't able to get to as a result of my golf vacation. That will be updated this coming weekend. The number of earnings reports is accelerating this week and will include the likes of AAPL, MSFT, META, GOOGL, and AMZN on Wednesday and Thursday. I'll review all 5 of these companies and what we might expect from earnings when we host a members-only special event on Tuesday afternoon that'll also include 10 upcoming earnings reports that I believe could be "blowout" reports. I hope you can join me!

Weekly Market Recap

Major Indices

Sectors

Top 10 Industries Last Week

Bottom 10 Industries Last Week

Top 10 Stocks - S&P 500/NASDAQ 100

Bottom 10 Stocks - S&P 500/NASDAQ 100

Big Picture

It was another solid week for U.S. stocks. At the beginning of the year, while calling for a potential 10% correction, I stated that long-term investors should simply "stay the course." The problem with jumping out and then back in, especially for long-term investors, is that corrections are a bit more unpredictable in terms of spotting bottoms. And jumping out of long-term positions, and then having to buy back at higher prices, can be extremely frustrating. It comes with the territory with short-term traders, but it can be emotionally challenging for those who prefer to buy and hold.

Now that we've moved back to all-time highs, the brief correction looks like a distant memory, even though it was just last month that we found ourselves 10-12% below prior all-time highs. That's why long-term investors should ignore the short-term noise.

Sustainability Ratios

Here's the latest look at our key intraday ratios as we follow where the money is traveling on an INTRADAY basis (ignoring gaps):

QQQ:SPY

Keep in mind that the intraday analysis provided is a "work in progress". I continue to analyze this data to see if it helps provide us clues about calling market direction. It makes common sense to me that it should help in some sense, but it'll require a much longer-term study to determine its worth.

It was another very strong week for this ratio, underscoring the strength of the current bull market rally.

IWM:QQQ

The IWM remains in a nice uptrend, but its relative performance vs. the QQQ took a bit of a hit last week. The QQQ has been strongly in favor as semiconductors ($DJUSSC) continue to soar. I expect both the IWM and QQQ to do well.

XLY:XLP

There was a bit of deterioration in this ratio, which bears watching in the coming weeks. As I've mentioned on many occasions, this is perhaps my favorite sustainability ratio and secondary indicator - after, of course, the combination of price and volume. I don't expect this ratio to be straight up, but I don't want to see new lows print. That would be a significant red flag.

Sentiment

5-day SMA ($CPCE)

Sentiment indicators are contrarian indicators. When they show extreme bullishness, we need to be a bit cautious and when they show extreme pessimism, it could be time to become much more aggressive. Major market bottoms are carved out when pessimism is at its absolute highest level.

Last week's very bullish 5-day reading of .47 resulted in perhaps slowing momentum, but it hasn't, as of yet, resulted in any meaningful selling. This past week, those very bullish CPCE readings moderated and the 5-day SMA moved back up. It does remain low, however, and is one indicator that suggests a moderate pullback could occur at any time. I wouldn't expect selling to carry us below the rising 20-day EMA, however.

253-day SMA ($CPCE)

This longer-term 253-day SMA of the CPCE is our "ocean-liner" signal, unlike our short-term speedboat indicator. Any significant change in direction in this 253-day CPCE, in the past, has had profound effects on the S&P 500. Is this longer-term moving average rolling over again? It appears to be trying.

Long-Term Trade Setups

Since beginning this Weekly Market Report in September 2023, I've discussed the long-term trade candidates below that I really like. Generally, these stocks have excellent long-term track records, and many pay nice dividends that mostly grow every year. Only in specific cases (exceptions) would I consider a long-term entry into a stock that has a poor or limited long-term track record and/or pays no dividends. I try to review the long-term picture once a month, so I'll check in on them next week. Below is a quick recap of how these stocks looked as of Friday, April 3rd:

JPM – as suggested last month, JPM has been moving mostly sideways
BA – unable to clear 250-275 resistance, holding stock back for now
FFIV – regaining strength above its 20-month EMA
MA – trending slightly lower, should find support from 450-460
GS – very extended, profit taking in 2026 likely selling culprit
FDX – nice looking chart, in a long-term bull flag pattern (bullish)
AAPL – very healthy long-term chart, simply consolidating in 2026
CHRW – pulling back from overbought conditions
JBHT – broke out in February, support around 200
STX - setting new all-time high after 2-month consolidation
HSY - bouncing off 200 price support
DIS - very weak on both absolute and relative basis, support 75-80
MSCI - 4+ years of consolidation continues after prior rapid ascent
SBUX - still consolidating between 65-115, needs a breakout
KRE – chart still looks very strong long-term, I see more highs ahead
ED – continuing to set new all-time highs, rising 20-month EMA is support
AJG - February 2026 low of 194 is now support to watch in this downtrend
NSC – cup with handle breakout in mid-2025 still catalyst for higher prices
RHI – 22 is the new support in this downtrend, which has been brutal
ADM – bullish momentum has clearly taken over in 2026
BG – setting new highs each month since breaking out in January
CVS – pulling back to test moving averages and 70 price support
HRL - approaching Q4 2025 low again; nice entry for this dividend aristocrat
DE – pullback after early-2026 breakout completely fine, support 525-550
LULU - has bounced off recent low, but still searching for ultimate bottom
TTD - volume remains very heavy on net selling; will 21 low hold?
META - lost 600 support, now moving up to try to regain that level
ADBE - remains under pressure, like many software stocks
KMB - another dividend aristocrat, with solid price support at 95
ORCL - added last week as its combination of potential growth and rapidly-growing dividend was too much to pass up

Keep in mind that our Weekly Market Reports favor those who are more interested in the long-term market picture. Therefore, the list of stocks above are stocks that we believe are safer (but nothing is ever 100% safe) to own with the long-term in mind. Nearly everything else we do at EarningsBeats.com favors short-term momentum trading, so I wanted to explain what we're doing with this list and why it's different.

Also, please keep in mind that I'm not a Registered Investment Advisor (and neither is EarningsBeats.com nor any of its employees) and am only providing (mostly) what I believe to be solid dividend-paying stocks for the long term. Companies periodically go through adjustments, new competition, restructuring, management changes, etc. that can have detrimental long-term impacts. Neither the stock price nor the dividend is ever guaranteed. I simply point out interesting stock candidates for longer-term investors. Do your own due diligence and please consult with your financial advisor before making any purchases or sales of securities.

Looking Ahead

Upcoming Earnings

The following list of companies is NOT a list of all companies scheduled to report quarterly earnings, however, just key reports, so please be sure to check for earnings dates of any companies that you own. Any company in BOLD represents a stock in one of our portfolios and the amount in parenthesis represents the market capitalization of each company listed:

Monday: VZ ($197 billion), CDNS ($87 billion)
Tuesday: V ($561 billion), KO ($328 billion), NVS ($281 billion), TMUS ($214 billion), GLW ($146 billion)
Wednesday: GOOGL ($4.10 trillion), MSFT ($3.09 trillion), AMZN ($2.74 trillion), META ($1.67 trillion), KLAC ($238 billion)
Thursday: AAPL ($4.01 trillion), LLY ($867 billion), MA ($448 billion), CAT ($389 billion), AMGN ($188 billion)
Friday: XOM ($626 billion), CVX ($374 billion), LIN ($235 billion)

Key Economic Reports

Monday: None
Tuesday: FOMC meeting begins, February S&P Case-Shiller home price index, April consumer confidence
Wednesday: March durable goods, February housing starts (delayed), February building permits (delayed), March housing starts, March building permits, FOMC rate decision and policy statement
Thursday: Initial jobless claims, Q1 GDP, Q1 employment cost index, March personal income & spending, March PCE index, April Chicago PMI, February leading indicators
Friday: April ISM manufacturing

Historical Data

I'm a true stock market historian. I am absolutely PASSIONATE about studying stock market history to provide us more clues about likely stock market direction and potential sectors/industries/stocks to trade. While I don't use history as a primary indicator, I'm always very aware of it as a secondary indicator. I love it when history lines up with my technical signals, providing me with much more confidence to make particular trades.

Below you'll find the next two weeks of historical data and tendencies across the three key indices that I follow most closely. The percentage for each calendar day represents the annualized return for that day. An example of how this is calculated is reflected next to the first day under the S&P 500 and in parenthesis:

S&P 500 (since 1950)

Apr 27: -0.94% (Ex: cumulative gains =-0.19% over 52 trading days since 1950. -0.19% x 253/52 = -0.94%)
Apr 28: +2.78%
Apr 29: +41.66%
Apr 30: -16.95%
May 1: +49.11%
May 2: +49.86%
May 3: +22.44%
May 4: +13.45%
May 5: +29.60%
May 6: -40.87%
May 7: -24.71%
May 8: +58.63%
May 9: -38.03%
May 10: -12.55%

NASDAQ (since 1971)

Apr 27: +15.06%
Apr 28: +10.71%
Apr 29: +50.97%
Apr 30: -23.15%
May 1: +75.07%
May 2: +72.38%
May 3: -15.32%
May 4: +56.84%
May 5: +50.73%
May 6: -52.43%
May 7: -54.36%
May 8: +78.37%
May 9: -49.25%
May 10: -16.81%

Russell 2000 (since 1987)

Apr 27: +10.14
Apr 28: +43.94%
Apr 29: +99.05%
Apr 30: -110.78%
May 1: +24.12%
May 2: +81.27%
May 3: +25.97%
May 4: +71.17%
May 5: +8.54%
May 6: -67.31%
May 7: -86.71%
May 8: +67.46%
May 9: -25.83%
May 10: -4.79%

The S&P 500 data dates back to 1950, while the NASDAQ and Russell 2000 information date back to 1971 and 1987, respectively.

Final Thoughts

Our major indices powered forward once again last week, though gains were concentrated a bit in the more-aggressive NASDAQ 100 ($NDX). Transportation ($TRAN), which had been so strong the week prior, fell back to test its rising 20-day EMA. Entry into transportation names might not be a bad idea, given this weakness, though the heavily-traded iShares Transportation Average ETF (IYT) does not follow the TRAN, so be careful there.

Here's what I'm thinking about in the week ahead:

Earnings. Earnings have been strong, thus far, and I'd expect them to continue to be. If you're thinking about buying stocks and holding through earnings (aggressive and risky strategy), some of the semiconductors could be quite interesting. Money continues to pour into this group.

Growth vs. Value. Growth stocks (IWF) are performing very well vs. their value counterparts (IWD). The IWF:IWD ratio last week hit its highest level since early February. I believe that'll bode very well for many growth names as they report their latest results. Many will raise guidance, in my view.

Technical Price Action. We have a different market environment than we did in March. After the huge pre-earnings season rally in the first half of April, we're now comfortably above the rising 20-day EMA, which is also well above the 50-day SMA. This is a chart configuration that I do not like to bet against.

Sentiment. If the market has an achilles heel right now, this is it. The 5-day SMA of the CPCE has risen off its recent low, but it still remains low. This suggests that options traders are perhaps a bit too optimistic in the near-term, and that, in turn, can lead to a bit of short-term selling. I wouldn't expect anything more than 1-3%, though. In addition, the Volatility Index ($VIX) remains stubbornly above the key 16-17 support area that I watch to ensure the selling has abated for good. The VIX currently resides at 18.16 and its low 10 days ago was in that 16-17 area. This is maybe the one thing the bears can still cling to.

Interest Rates and the Fed. It's Fed Week! While there is no expectation of a rate cut, the Fed's forward-looking thoughts will provide traders something to trade off of. I suspect the war will leave the Fed in a holding pattern for the foreseeable future. That might provide the bears a bit of ammunition for a pullback, in addition to the sentiment issues discussed above.

Happy trading!

Tom