Thursday Thursday…

Draghi is talking up the markets this morning, following the first big red candle of the month.

For the first time in many moons yesterday the market closed at session lows.  It was not an easy downside move.  There were plenty of spikes to keep participants guessing.  I covered this is yesterdays recap:


Today's Watchlist

Earnings Breakdown $GOOGL $AMZN and more

What will today bring?  How about the rest of the month?  The rest of the year?

Let's look at a few charts.... shall we?

The S&P500 ETF  $SPY closed yesterday at the lows of the session.

S&P500 futures have bounced overnight and into the morning, but are fading as we near the opening bell.

Yesterday was the first big red candle of the month.  Also keep in mind that the market has a habit of pulling back the last few weeks of each month.


Currently DRAGHI is speaking his magic and futures are spiking.  But so is the US Dollar, which I don't think is bullish.  We will find out what the market thinks later today.

The US Dollar looks poised for a break back into triple digits

Finally we have more earnings tonight.

Yesterday we had $AXP earnings which I bought puts for and sure enough after the bell it fell like a stone.  $CAT is another put trade that looks to be working out.

How about $GOOGL and $AMZN?

There breakdowns for those and more are up on the blog.


Here are is an earnings cheat sheet from

A few trade ideas for today:

Discuss them here as well

Bullish Equities

Symbol Exchange Company Name Opportunity Type Classic Pattern Close at Event Target Price Range
CRUS NASDAQ Cirrus Logic Inc Intermediate-Term Bullish Bottom Triangle $32.89 $37.00 - $38.50
KNX NYSE Knight Transportation Inc Intermediate-Term Bullish Double Bottom $25.84 $27.50 - $27.90
ACOR NASDAQ Acorda Therapeutics Inc Short-Term Bullish Pennant (Bullish) $31.71 $37.50 - $38.75
IEX NYSE IDEX Corp Short-Term Bullish Flag (Bullish) $74.79 $83.00 - $86.00
SMP NYSE Standard Motor Products Inc Intermediate-Term Bullish Diamond Bottom $36.85 $43.00 - $44.25

Bearish Equities

Symbol Exchange Company Name Opportunity Type Classic Pattern Close at Event Target Price Range
PFE NYSE Pfizer Inc Intermediate-Term Bearish Continuation Wedge (Bearish) $33.46 $29.60 - $30.40
EBAY NASDAQ eBay Inc Short-Term Bearish Pennant (Bearish) $24.21 $21.80 - $22.20
ABX NYSE Barrick Gold Corp Short-Term Bearish Symmetrical Continuation Triangle (Bearish) $7.51 $5.40 - $5.80
GLW NYSE Corning Inc Intermediate-Term Bearish Symmetrical Continuation Triangle (Bearish) $16.71 $13.40 - $14.00
LLY NYSE Eli Lilly and Co Long-Term Bearish Double Top $77.01 $61.00 - $64.00


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.

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