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Thursday, October 26, 2017

Massive Earnings News Today - A Muted Reaction Would Signal A Top 


One Option Trading Blog http://ift.tt/2y5P4e9 Posted 9:40 AM ET - Monday the market reversed off of an all-time high. That was a bearish pattern and we have seen profit-taking since then. Typically mega cap tech earnings attract buyers and this drop is unusual. We will know after the close if this selling was a warning sign. Microsoft, Intel, Amazon, Bidu and Google will post results this evening. I believe this round of earnings will be good. These stocks are "fully priced" and it will take exceptional numbers to drive them higher. Earnings season is front end loaded and the strongest companies announce early in the cycle. …

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