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Post Market Analysis, Wednesday February 3

|Includes: SPDR Dow Jones Industrial Average ETF (DIA), GLD, IWM, QQQ, SPY, UUP, V, XLF

 A lot of indecision and divergences in the markets today. The S&P 500 (NYSEARCA:SPY) had an inside trading day, showing no directional movement on the daily chart. The Nasdaq (QQQQ) was relatively strong, closing up .5% while the other indexes sold off .5%-1%. Gold (NYSEARCA:GLD) pulled back slightly and the dollar (NYSEARCA:UUP) broke above resistance at the 200 day moving average. The VIX popped ever so slightly, up .5%. The TRIN was very bearish today while the TRIN/Q remained bullish.

Based on earnings alone (so far they have been good after hours), I would expect the markets to trade higher tomorrow. However, things can turn on a dime as it is earnings season. Also, we have Jobless Claims and Productivity & Costs numbers coming out pre-market tomorrow. Always check earnings dates for stocks you are watching and/or trading. It is not prudent to hold positions or trade into earnings. Also, it is important to always define your risk and trade with a stop loss.

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Happy Trading,

Jason