Good morning
Markets continue to melt up as we approach a very important earnings season. Do not chase make sure you have a plan and always know your risk reward. We are seeing a slight pull in the Nasdaq and S&P lets see how we close out heading into the weekend. Some profit taking could take place after a nice week for the bulls
- FLDM 10 percent owner buying more shares potential day trade or swing on a pull to 6 potential support
- TOUR potential swing or day trade opp could be testing support on the daily
- IPI potential swing looking for trend line break 4 would have been ideal swing entry
- TVPT added to small cap 600 getting a lil pop pre market potential day trade on bounce off trend line
- SQNS potential day trade on trend line break 2 entry on pull back could work for swing
- PXLW Grinding higher potential day trade or swing on a pull to potential support
- RRTS potential swing testing trend line potential entry on a red to green
- STRL lil pop yesterday potential border wall/ infrastructure play more of a swing type play look for a pull to potential support
- TGH swing or long term hold play at a big spot 22 would be ideal entry
- VTVT nice daily potential day trade on trend line break with volume
- PFMT Big contract wait for a good pull back or offering for potential swing entry on pull to support
- MGEN upgrade 13 pt potential day trade opp do not chase
- CHGG good looking daily potential day trade on break over 17
- TWTR gapping off FB news could be a swing or day trade opp with enough volume don't chase look for setup
- AEMD like the daily setup worth watching for day trade opp
- SAEX oil and gas name good looking daily potential day trade or swing play look for oil to take a breather and if it does these names will likely pull as well gappin off tax credit news
Jan 12th 2018 Pro Pre Market Prep from Alpha Wolf Trading on Vimeo.
Friday's economic calendar
8:30 Consumer Price Index
8:30 Retail Sales
10:00 Business Inventories
12:30 Fed's Harker Speech
1:00 PM Baker-Hughes Rig Count
4:15 PM Fed's Rosengren: “Money, Models, and Digital Innovation”
Big bank earnings pour in
The unofficial start of earnings season kicks off today as big banks JPMorgan, Wells Fargo and PNC Financial report their quarterly numbers.
Earnings for S&P 500 companies are expected to have increased by 11.8% in the fourth quarter, according to Thomson Reuters.
But many companies are forecast to take one-time charges due to deferred taxes and may be reluctant to give the broad positive guidance expected by the trading community.
