Microsoft (MSFT) and Amazon (AMZN) brings tidings of great joy this morning for bulls after announcing solid and above expectations earnings reports. Each are trading over 10% in the pre-market with Amazon staring down at gains of over 17%. For the tech companies, this has not been a disappointing earnings season at all.
In the early going, both the Dow and NASDAQ are each up 13 points while the S&P is up 3, which is surprising, with the solid earnings reports from AMZN and MSFT, I thought that we might be staring at gains of 40 points or more in the NASDAQ, which makes me believe that there should be a lot more upside potential in this market still today.
Overnight Asian markets were up about 1.25% overall while the European markets are full throttle with gains of 1.5% so far. We had Uncle Benny speaking earlier this morning with little impact, while there is still a Existing Home Sales report due out at 10am EST.
Here are Today’s Trade Setups…
Long Setups: AMP, ARE, CIM, IBOC, PPS, RDN
Short Setups: RODM, SWC,