Futures are looking ‘okay’ right now, but there is some fair value cooked into them. For instance, the Nasdaq isn’t down only a few points, instead, it is down about 1% from where it closed the day at 4pm eastern.
From the looks of things with Google (GOOGL) and Microsoft (MSFT) putting in some pretty bad misses on the earnings, front, the Nasdaq will be the obvious leader to the downside and laggard to the upside. Surprisingly, even with Starbucks (SBUX) and Visa (V) having bad earnings reports, the S&P 500 is looking at a flat open currently. Of course though the European open will still weigh on the markets too.
Here’s the futures as they currently stand:
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Trading what you see and not what you think is one of Ryan's popular trading expressions that he has lived by in his 30 years of trading experience. In this podcast episode Ryan explains why it is so important to not think your way through the market but to be a trader who sees what to trade and reacts accordingly. If you are struggling as a trader, it may very well be that you aren't seeing but thinking your way through your swing trades.
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