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Earnings season continues to unfold, with 11 S&P 500 stocks reporting earnings on Thursday, January 22nd. In this rundown, I’m walking through price action, market timing, and momentum — with a particular focus on accumulation and distribution, or how institutions are positioning into earnings.
🔍 Highlights
1️⃣ GE Aerospace (GE)
GE Aerospace remains in a constructive uptrend, supported by the December 31st range. Price continues to respect that area while RSI Power Zones hold the Bull Support Power Zone, which keeps the larger bullish structure intact. As long as that December 31st low remains in place, this looks like a stock that may be setting up a buying opportunity rather than breaking down.
2️⃣ McCormick (MKC)
MKC is attempting to re-accumulate and form a base, but the process has been uneven and unconvincing so far. Price has struggled to hold momentum, and until it can post a daily closing break above the $70 level, the structure remains questionable. At this stage, this is one to stay clear of unless the stock shows clearer evidence of accumulation.
3️⃣ Procter & Gamble (PG)
PG is also attempting to base, but this setup looks more like a potential trend change rather than a clean re-accumulation. If price can continue higher above the December 17th high, that would improve the picture. Without that, momentum patterns suggest a possible resumption lower, which would be confirmed by a move below the January 16th low.
4️⃣ Huntington Banshares(HBAN)
HBAN has been putting in new recent highs, clearing its November 2024 high after working off overbought conditions. While that strength is notable, the combination of higher highs and relatively tight lows makes chasing a breakout risky. Even though it’s a lower-priced stock, waiting for a potential pullback toward the January 14th low would offer a more favorable entry.
5️⃣ Northern Trust (NTRS)
NTRS has broken out from a wide base and continues to hold higher while staying above the December 31st low. That behavior suggests accumulation remains in place rather than distribution. As long as price respects that level, buying on pullbacks remains a reasonable approach within the current structure.
6️⃣ Abbott Laboratories (ABT)
ABT is displaying signs of distribution, which points to institutions gradually selling shares rather than accumulating them. From a long perspective, the structure does not look attractive right now. If you are positioned short, the area around the January 2025 range near $115 becomes an important downside target to monitor.
7️⃣ Freeport-McMoRan (FCX)
FCX has been strong and extended, repeatedly pushing into the Bull Resistance Power Zone. If you’re already long, trailing a stop below the January 16th low makes sense to manage risk. For those without a position, the stock is overbought, and patience is warranted — earnings could easily fuel a pullback that creates a better opportunity.
8️⃣ Intel (INTC)
INTC has made a strong move higher since December 26th and has not yet returned to the Bull Resistance Power Zone. That behavior suggests there may still be room to run, particularly if earnings provide additional fuel. Based on the current trend, the next upside area to watch sits near $60 per share.
9️⃣ CSX Corporation (CSX)
CSX has been moving sideways overall, with repeated attempts to push higher but no decisive closes above the August high. The lack of follow-through keeps this from being an exciting setup right now. Until price can clearly clear and hold above the $38 level, this remains a stock to stand back and watch.
🔟 Capital One Financial (COF)
COF recently gapped and has since pulled back toward prior resistance, which is now acting as new support inside the Bull Support Power Zone. That shift in character puts this stock back on the radar. As long as price holds above $220, there may be a long opportunity depending on how earnings play out.
1️⃣1️⃣ Intuitive Surgical (ISRG)
ISRG is working on filling a large gap that formed back in October. While this stock has a history of gaps that do not always fully fill, this one stands out due to its size. If price continues asserting itself below the October 22nd low, the midpoint of that gap becomes an important downside area to watch.
That’s my take on S&P 500 stocks reporting earnings on Thursday, January 22nd. Be sure to check whether earnings are released before the market opens or after the close, as timing varies.
If you found value in this analysis — particularly the lessons around accumulation and distribution — go ahead and hit the like button. I’ll catch you in the next video and hopefully live in my upcoming Four Zones RSI Coverage System reteaching next week!
~ Hima
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