Earnings…tell the Truth

Earning season in full force.

The banks are reporting. Some hit their projected numbers, some don’t.

Futures are down pre-market. NASDQ, at this writing are down 125 points. Don’t hang your hat on that!  As we know, futures are a backup of orders from the previous night. They have to be sorted out and that typically happens in the first 30 minutes of the market open. Traders typically do not make moves in the first 30 minutes of the market open. I’d rather wait for those orders to settle out and then decide the direction they’re going.