Markets grinding higher among earnings
Market seems to be grinding higher amid a week full of earnings in big names. There is no tell its a bullish bias as long the earnings are bullish.
The second we stop this euphoria this market can drop down, because it has been overbought in this region for a longtime. Profit taking may grip the market and than back on up.
GOOGL had its earnings last week and this week is filled with big name like CMG, NFLX, AMZN and so many others.
We are trading index options like RUT and SPX for the moment and avoiding the earnings risk based trading this year. Earning trades are great if you gamble right or you will lose a lot. We are not risk bound at this time and I have not touched an earnings play this year. Last year we did a ton of earnings trade and they were not highly successful.
As each big names passes these earnings day, we position ourselves for the trades to come.