So we are now in another earnings seasons, one of my favorite times in the market. This time I am far away from the action as I am just coming back from being away but never the less the earnings trend should hold through and trend in the direction of the first few reports.
The futures are up overnight as AA earnings surprised higher and they are the first of the big weights to announce earnings. If the trend stands we should trend higher and make new highs. I am out of my short S&P for small profits +4 and am currently flat. Earnings will the the defacto here and if they are modestly improved we will bust a move higher.
Look for the banks especially to go higher especially BAC, since they have run Mr.Lewis out. Maybe BAC hits $20 we will soon know.
It is 5:00 and very sleepy. I will update later
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