Day One of the Giant Three Days is here. This afternoon is an earnings avalanche, with Microsoft (NASDAQ:MSFT) and Alphabet (NASDAQ:GOOGL) leading the way. Shortly before the opening bell, we’ve got the big stuff down about half a percent across the board, with the next important level on the S&P 500 Futures at 3930.
A longer-term version (but still intraday) of the NASDAQ 100 Futures shows 12,262 as the next support, which is very close.
Thanks to last night’s Walmart (NYSE:WMT) announcement, retail remains weak across the board. One of my larger positions is January puts on Amazon (NASDAQ:AMZN), and that’s looking pretty good. Take note how, when integrated with after-hours trading, AMZN exhibited a very clean topping pattern prior to the plunge.
As I’ve mentioned, I’ve pretty light now, with 30% cash. I’ll probably remain light until tomorrow afternoon.