By All About Trends
The following is an excerpt from today's premium report by All About Trends. Enjoy a free 15 day trial to their service and receive daily stock picks, market analysis, and a complete trading plan.
We're seeing stuff all over the place here today. All the action is in earnings driven events. The bottom line with those was you had to be willing to take the risk of a miss simple as that. No risk, no reward, but overall most have been working and that's why we have AWAY and now SBUX. If they work, they work, none of us have any control over whether they do or don't pop as the market makes the call not us. All we can do is manage our trades according to what the charts are telling us and with both these issues, there's good structure to support maintaining a long side position.
For the indexes? It's still range bound trade being the order of the week. At this point they are either going to continue to build out and get resolved to the upside or we're on the verge of a deeper pullback upon a break down of the sky blue ranges below. Until then earnings releases and related pops or drops dominate the action here.
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