Good Morning everyone and Hump Day!.

Yesterday the market seem to be in limbo with light volumes and very small price moves.  Perhaps the market is waiting to see more earnings results before making a decision of direction or maybe the market is simply waiting for the new president to get started.  Whatever the reason may be w continue to be locked into a small range of sideways chop and forcing us to have a heightened level of confidence.

Today we have several big earnings such as C and GS prior to market open and NFLX after the close today.  Big pre-market earnings reports have the potential of moving the futures around so the open today I think is still up in the air and anything is possible.  We also have a very busy economic calendar today with CPI, Industrial Production and Janet Yellen speaking this afternoon as the most likely of to move the market.

I believe we must continue with our heightened caution.  This means we need to choose carefully the stocks we trade, perhaps trade them smaller and have a willingness to take profits sooner if the market does suddenly pick a direction.

I wish you all a productive day!

Trade Wisely,

Doug

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