Premarket Insight
Another day of earnings down… and not a thing to show for it. This has been the most uneventful earnings season I’ve seen since I started day trading. AMZN earnings were released with very positive results yesterday but it did very little to move the market. Even in the after hours, Nasdaq Futures (NQ) only climbed 30 points (0.46%) at its peak with was only a touch and drop.
All this after the market was virtually dead yesterday during market hours, trading sideways with analysts over-hyping the tiny dip off FB earnings. Listening to CNBC would have something thinking the market dropped a whole 100%. Note to self, only listen to market news for pure entertainment. (That’s what it is anyway)
Looking forward, more earnings on the dock today with TWTR making headlines early as “sinking sharply”, which is actually very accurate, dropping 10 points in the premarket from disappointing earnings report.
Also, plenty more to bring some reviving life into the market with continued trade talk between U.S. and China, Crude Oil, and GDP to be release at 08:30 EST. Keeping a positive outlook on the day ahead.
At the Bell
Too much information dealing with earnings, GDP and Trump news kept me out of the premarket action, which is a good thing since the result was a whole heap of up/down action.
Major selloff in the opening 10 minutes after the bell but didn’t fit the setup I look for so no trade. Patience and good execution is the name of the game for me today.
COB Recap
The selloff continued, and I was able to catch some love once my indicators finally caught up. Took some hits on CL’s choppiness but made it all up with a nice continuation play on NQ. After that and seeing how my strategy was slowly reacting to the market, decided to call it a day early and just end the week on a positive note.
Have a great weekend everyone!
For real-time insights follow me on Twitter! @Mv3Trader
Comment below with your opinions and questions.
Rob
Mv3 Trader
“Trade Consciously”
