The major market averages (^DJI, ^IXIC, ^GSPC) close just below their flatlines as stocks await the release of top second quarter earnings from Magnificent Seven members Alphabet (GOOG, GOOGL) and Tesla (TSLA).

Josh Lipton and Jared Blikre watch the market movements ahead of these Big Tech results, eyeing the day's sector leaders and momentum in the small-cap Russell 2000 (^RUT) index.

For more expert insight and the latest market action, click here to watch this full episode of Market Domination.

This post was written by Luke Carberry Mogan.