Another constructive market day as it consolidates above 1111/1113 gap from Monday. Other than that it was incredibly lacklustre day with no conviction buying in anything except AAPL late afternoon. Simply, we can add AAPL to the ES/ ETF trade and repeat everything from yesterdays/ market journal. This would have been it for tonight’s write-up, if it wasn’t for an after hours market!
AMC, the revived tech/ SMH this week got more life support from v. strong earnings from ORCL, RIMM and a big buyback from TXN and a Western standoff at SPX ~1130 is now scheduled for tomorrow. "Come out, come out, wherever you are" is the general market cry for buyers to surface.
Here’s the moving parts to watch tomorrow as the expectation here is not for the usual big breakout as in years past. If we had all this tech news tonight in the past, we’d have the market near SPX 1140 by opening bell.
Interwined in the good Tech news will be the below points as to how far we go on Friday.