PRE MARKET

A few things stick out:

FINANCIALS finally showed some serious accumulation yesterday. Whether or not they can continue to move is another story but it is a good start for this important area. It is noteworthy that JPM and C both acted poorly Friday off of their earnings but moved nicely yesterday. We are asked about reasons…one could look at higher long rates but think market buying “value!” Most of these big names are just in long trading ranges.

NFLX coughs one up…gapping down below the 50 day. Thus one of our important rules…know when companies are reporting. Not only did they miss but they also lowered guidance. Earnings and sales were still up strong. We have no clue how the stock handles the gap.

UNH is down almost $5 this morning. We mention it because it has been one of the stronger DOW stocks.

A ton more earnings to come out in the next few weeks. Stay tuned.