Market Overview

April 8th Watchlist

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Earnings season kicks off this evening with Alcoa (NYSE: AA) reporting and some major banks are scheduled for later this week on Friday. This particular season should be interesting as many pundits are expecting more bearish reports from many of the high-profile American companies.

There is no economic data coming out this morning just a couple speeches from members of the FED. FED minutes are being released in the middle of the week so watch out for those to move the markets.

Markets are in a holding pattern after Friday's dismal jobs reports. The QE from Japan I think has helped keep the bulls in play here while the underlying fundamentals that supported this rally thus far have started to deteriorate. It still remains to be seen what direction we head in now. SPY over $156 could mean all time highs are not far away while a move back to $154 should signal some further selling. Be prepared for a lot of chop action today.

For the intraday traders I would focus on names that are moving without the influence of the indexes. I would also suggest lightening up size and waiting for better setups.

GOOD MORNING YOUNG WORLD!

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