Thursday report - VISION FINANCIAL MARKETS

The earnings season is heating up and it feels like the smart money maybe doing some selling. You could see it in the cash market all day.

Today Fifth Third (FITB), Goldman Sachs (GS), Keycorp (KEY), PNC Financial (PNC) pre-market while Capital One (COF), American Express (AXP) and Bancorp South (BXS) report after the close. Friday brings pre-market numbers from BB&T (BBT), General Electric (GE), McDonalds (MCD) and SunTrust Bank (STI). So we have all sorts of big names reporting.
In Asia 7 out of 10 markets closed lower as China continues to clamp down on bank lending. In Europe, out of the 10 markets being quoted 6 are trading higher, 1 is unchanged and 2 are trading lower.

We have a simple rule on trying to get back on track and it’s listening more and trading less.
We are going to take a step back. What we will do is remind everyone that out of the 12 trading days in the New Year 12 have been up and 4 have been down. That last Friday the SPH closed at 1132.30 and yesterday it closed at 1133.00.

And lastly, if the markets are rolling over we are only 15 handles off the contract high and nearly 490 handles off the low. Look down the red boxes. If you look down to DEC 15th the SPH was down then up on the 16th, down on the 17th and then had 5 up days in a row. We do not know if these patterns will hold but we think its well worth looking at. Goldman on tap…