- Moving the market
Stocks slipped today as traders weighed a fresh round of earnings and sifted through disappointing results from some big names.
The session started on a weak note, with selling pressure building after Netflix’s quarterly miss and a downbeat outlook from Texas Instruments.
Netflix shares plunged about 10% after the streaming giant reported earnings per share of $5.87, missing forecasts of $6.97, largely due to a $619 million tax hit tied to a dispute in Brazil. The company stressed that the issue was a one-off, but traders weren’t convinced.
Texas Instruments didn’t help sentiment either—its stock fell 6% after posting underwhelming results and issuing a softer-than-expected forecast for the coming quarter, reigniting worries about chip sector demand.
Elsewhere, the Dow pulled back after Tuesday’s record-breaking close near 47,000, with traders taking profits from recent blue-chip winners like Coca-Cola and 3M.
The S&P 500 and Nasdaq lagged even more after President Trump hinted that his upcoming meeting with China’s Xi Jinping “might not happen,” briefly denting risk appetite.
Despite the cautious tone, traders remain focused on the weeks ahead, with Tesla’s earnings due after the bell kicking off the highly anticipated reporting season for the “Magnificent Seven” mega-cap techs.
On the day, small caps led the declines, with the most-shorted stocks logging their fifth straight drop since “Liberation Day.”
Bond yields slipped further, the dollar was flat, and gold and silver managed modest rebounds after Tuesday’s rout. Bitcoin, meanwhile, gave back its overnight gains, sliding back toward $108,000.
After this bumpy session, can coming mega-cap earnings and inflation data steady investor nerves—or will another round of high-profile misses rattle markets again?
2. Current domestic “Buy” Cycle (effective 5/20/2025); International “Buy” Cycle (effective 5/8/25)
Our domestic bullish cycle that began on November 21, 2023, concluded on April 3, 2025, following a market downturn triggered by President Trump’s tariff policy announcement.
This development caused significant declines across major indexes and broader market indices. However, markets subsequently rebounded, culminating in a new domestic “Buy” signal taking effect May 20, 2025.
Concurrently, our International Trend Tracking Index (TTI) experienced parallel volatility. On April 4, 2025, it breached critical thresholds, prompting a “Sell” recommendation. This position reversed as global markets recovered, with the International TTI regaining sufficient momentum to issue a new “Buy” signal effective May 8, 2025.
3. Trend Tracking Indexes (TTIs)
Stocks opened lower but managed a mid-morning recovery before fading again later in the day, leaving the major indexes in the red by the close.
The initial bounce was fueled by some bargain hunting following Tuesday’s big swings, but lingering caution over trade headlines and mixed earnings kept a lid on momentum.
Gold and silver, which had been hammered yesterday, found a bit of relief—both edging back into positive territory after their sharp selloffs.
Meanwhile, our TTIs couldn’t quite resist the market’s downward pressure, ending the day moderately lower.
This is how we closed 10/22/2025:
Domestic TTI: +6.40% above its M/A (prior close +6.92%)—Buy signal effective 5/20/25.
International TTI: +11.23% above its M/A (prior close +11.53%)—Buy signal effective 5/8/25.
All linked charts above are courtesy of Bloomberg via ZeroHedge.
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