Today the Dow gapped up over 130 points from yesterday's close with many of our stocks making new highs. Over the past hour these same stocks have reversed, losing much if not all of their gains. The Dow has already lost 2/3 of its gains and Nasdaq is actually negative on the day. This is bearish action, always has been and always will be. The converse is true on the downside when stocks make new lows on the open and then run up to close higher on the day. Maybe it's just another fake-out before another leg up...or maybe it's not. We will know soon enough.
Earnings
FB, & TSLA & YELP report after today's close, BABA reports before tomorrow's open and AAPL reports after the close on Thursday.