“Every time you are tempted to react in the same old way, ask if you want to be a prisoner of the past or a pioneer of the future.” Deepak Chopra
Markets are consolidating well now where they should and that is great.
That said, with NASDAQ:GPRO NASDAQ:AAPL NASDAQ:MSFT NYSE:CMG and others reporting tonight markets may well rip higher with a gap open tomorrow if numbers are good, but that is a coin toss.
ARCA:SPY is backing away from resistance at the 212 to 213 area well.
Let’s see if we just fill the gap back to 211 or fall further.
With AAPL and MSFT off on earnings so far and CMG off hard but now back up to par your guess is as good as mine as to how we open tomorrow.
I rarely trade earnings and sometimes I feel left out, like last week, and other times I’m happy to follow my rules like this week is so far playing out.