Bears Hold Weekly Edge

1:15pm (EST)

We said no Greece deal would weigh on the market this week and perhaps keep the reins on the bulls. If the closing bell sounded right now, the week would end mixed with Tech showing the only positive finish.

The Dow came into the week at 12,720 and is at 12,646, down 88 points.

The S&P 500 started Monday at 1,315 and is currently down 5 points to 1,313.

The Nasdaq began the week at 2,786 and is at 2,808, up 3 points.

Over a quarter of the S&P 500 companies have announced earnings this week and next week marks the height of the season before we start tapering off. Some of the companies we will be watching like a hawk next week include Aflac (AFL, $48.70, down $0.08), Amazon.Com (AMZN, $195.20, up $1.88), Broadcom (BRCM, $35.20, down $0.09) and United Parcel Service (UPS, $75.98, up $0.14) on Tuesday.

Wednesday, Chipotle Mexican Grill (CMG, $364.80, down $1.01), Electronic Arts (EA, $17.91, up $0.25), Green Mountain Coffee Roasters (GMCR, $52.61, up $3.27), Hershey (HSY, $61.37, down $0.16), Las Vegas Sands (LVS, $49.22, up $0.25) and Qualcomm (QCOM, $57.62, down $0.20) will announce their quarterly results.

Thursday and Friday will also feature some companies of interest and these are some of the main stocks we actively follow just to name a dozen or so.

We continue to chuckle when we hear that stock picking is a lost art, which we have heard for the last 3 months. We must be doing something good to hit 17-out-of-18 wininng trades to start the year for our Daily and to go 23-0 over the last 13 months for our Weekly Wrap covered call trade Portfilios.

We have some last minute updates to the 2 new trades we added this morning as we have added our exit targets. Let’s go see where we are at inside the Members Area.

January has been incredibly good to us and we will cover the charts for the indexes and our current trades on Sunday night in our Weekly Wrap and Monday morning for the Daily. We have a busy weekend of homework but it isn’t “work” because we have been banking profits all month long. Until then, have a great weekend everyone!

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