Real Quick

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.


Known to most as Uranium Pinto Beans, Jason has more than 15 years under his belt of trading stocks, options and currencies. His expertise primarily lies in chart analysis, and he has a strong eye for undervalued stock. Because he’s got the ability to identify great risk/reward trades he usually enjoys taking the path less traveled and reaping the benefits from the adventure.

He is a co-founder of Option Millionaires, and he is best known for his weekly webinars with Scott, as well as his high level training webinars and charts found in the forums.

More Posts by UPB: View All | Private Twitter Feed: Access Now! (For Diamond Members)

Leave a Reply