This past Friday, the markets has its first greater than 1 percent move down in a while. As I read the various blogs out there. There appears to be some caution about shorting this market. I think so many people have been hurt shorting this strong rally, myself included, have decided not to participate in this market. We might test some of the break out levels on the major indexes, so we might correct 4-5%.
We started 1st quarter earnings last week. Most of the stocks have rallied into earnings. AA had another quarter of losses. INTC beat. GOOG didn't do that well it well from the 595 level to the 550 level. ISRG also fell down. JPMC beat.
AAPL, GS, IBM some of the companies reporting earnings.
My play might be some bearish calendars at support levels.
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