Stock futures are lower to start the day. $MS earnings aren't helping things as the stock is down sharply pre-market.
SP500 Futures remain above the key 2600 level.
We are starting to get some that confirmation I was talking about earlier this week. The financials are saying the price action from October to the end of December is indeed in the rear view mirror.
Earnings after the bell from $NFLX will go a long way in confirming this.
The long term picture shows momentum making a turn we haven't seen since the lows in 2016.
The previous momentum turn saw the market rally to some 13 of the next months.
With all the negativity in the market today its hard to imagine even two consecutive months of upside. There was plenty of negativity in early 2016 as well. Perhaps this time it will be different.