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The Soft Landing Test: Big Tech Earnings and the PCE Gauntlet · The SPY Trader

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  Rise and shine , market mavens !
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  It is 6 am on Sunday , April 19th , 2026 , out here on the Pacific coast .
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  I am your host , Sunny Sideup , and you are listening to Spy Trader .
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  We are heading into what I like to call the highstakes gauntlet .
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  This coming week , April 20th through the 24th , is going to be a whirlwind of big tech earnings and critical economic data that could set the tone for the rest of the spring .
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  The big theme right now is the soft landing test .
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  The Federal Reserve has moved into a hold and monitor phase , so everyone is looking at the numbers to see if the economy can stay resilient without getting too hot .
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  On Thursday , April 23rd , we get the advance estimate for Q1 GDP .
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  We are looking for that Goldilocks number between 1.8 percent and 2.2 percent .
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  Then , on Friday the 24th , the Bureau of Economic Analysis drops the PCE Price Index .
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  That is the Fed's favorite inflation gauge , and it will be the real mover for the week .
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  In the corporate world , it is the Big Tech showdown .
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  Microsoft and Alphabet are reporting midweek .
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  Back in the early days of the AI boom , just saying the words artificial intelligence would send a stock to the moon .
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  But here in 2026 , the market is demanding monetization .
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  We want to see the actual revenue .
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  If Microsoft shows that Azure AI services are growing , the Invesco QQQ Trust will likely have a great week .
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  But if enterprise spending looks sluggish , things could get bumpy for those techheavy indices .
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  Over in the financial sector , banks like JPMorgan Chase are seeing better interest margins as the yield curve uninverts , which is great for the Financial Select Sector SPDR Fund , or XLF .
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  Meanwhile , healthcare has been a bit sleepy , but keep an eye on UnitedHealth Group .
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  News about Medicare Advantage rates could give the Health Care Select Sector SPDR Fund , known as XLV , a muchneeded spark .
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  Now , let’s talk about how to play this .
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  If you are feeling aggressive and believe tech will prove its worth , the Invesco QQQ Trust is your primary vehicle .
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  You might also look at Nvidia as a proxy for that big tech spending .
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  If you are a bit more nervous about Friday’s inflation data , consider a defensive play .
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  SPDR Gold Shares , or GLD , remains a great hedge if that PCE report comes in hotter than expected .
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  You could also look at Vertex Pharmaceuticals as a safe haven within the healthcare space because their demand doesn't really care about the economic cycle .
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  For those who want to sleep better at night , the conservative move is the Vanguard Total Stock Market ETF , ticker VTI , or the Vanguard S&P 500 ETF , VOO .
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  These provide that balanced exposure so a single tech miss won't ruin your whole week .
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  My final recommendation for the week ahead ?
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  Rebalance a bit toward VTI to protect against sectorspecific volatility , but keep a small tactical position in the iShares 20 plus Year Treasury Bond ETF , or TLT .
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  If that inflation data on Friday shows things are cooling off , TLT could see a nice rally as yields drop .
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  That is it for this early morning update .
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  Stay sharp , stay friendly , and I will see you back here in a few hours !