SPY - Tesla is the only megacap with leverage heading into earnings: Alpha Tactics

The Big 6 megacap stocks fell this past week, a big contributor to weekly declines of the S&P (SP500) (SPY) and Nasdaq (COMP) (QQQ).Tesla was the biggest decliner, off 6.12%, with most of the damage coming in a plunge of nearly 8% on Monday from a record high around $880. Facebook followed, falling 6.06%, on pressure on the social media sector as the political firestorm around the platforms continues and confusion about privacy with WhatsApp.Momentum has slowed for every name but Tesla, which is the only stock higher in the past month. But strong quarterly results when the companies report at the end of the month could help these big names regain some traction.One metric to look at for these companies going into reporting is earnings leverage, according to research firm DataTrek.The upshot of the leverage is that the bottom-line rate of change is greater than the top-line rate of change.

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Tesla is the only megacap with leverage heading into earnings: Alpha Tactics