Monday, July 12, 2010

Morning Post, SPX, S&P 500, E-mini

Earnings season. Will it surprise or finally succumb?

Earnings Calendar -AA after hours and then INTC and YUM tomorrow. Thursday is the big day with JPM and the financials getting things kicked off.

Be careful is all I have to say. There really is not telling as to what the numbers will be and or how the guidance is gonna come. Will the financials be the primary drivers? Lots of questions, so I advise caution.

SPX 30m is loaded with divergences, but it also ran thru one last week. NASDAQ and RUT still have large gaps above that may want to get filled as the other major indexes have covered theirs. My target was 1090 for this run and a second of 1111.