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What Tesla, Netflix Stocks Tell This Technical Analyst About Markets Tuesday

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A packed earnings week is off to a positive start with Facebook's  (FB) - Get Meta Platforms Inc. Class A Report earnings and Tesla  (TSLA) - Get Tesla Inc Report hitting a $1 trillion market cap. 

Tesla's market cap increase helped to boost the S&P to a record close. 

TheStreet's Martin Baccardax laid out some of the earnings and Wall Street got "pre-market updates from General Electric (GE) - Get General Electric Company (GE) Report, 3M (MMM) - Get 3M Company Report, Eli Lilly (LLY) - Get Eli Lilly and Company (LLY) Report, and United Parcel Service UPS -- all of which topped Street forecasts -- with Microsoft (MSFT) - Get Microsoft Corporation (MSFT) Report, Twitter (TWTR) - Get Twitter, Inc. Report, and Advanced Micro Devices (AMD) - Get Advanced Micro Devices, Inc. Report following after the bell."

"With 119 companies reporting so far this earnings season, collective S&P 500 profits are set to rise 34.8% from last year to $430.3 billion, according to data from Refinitiv, with a beat rate -- or the level at which companies top Street forecasts -- that near to the highest levels on record," Baccardax continued. 

Action Alerts PLUS portfolio managers Bob Lang and Chris Versace discuss the technical state of the market in the video above. 

Head to Tuesday's Daily Rundown to hear what Versace and Lang are only telling members of the Action Alerts PLUS investing club. 

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