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Wednesday, July 16, 2008

Tomorrow's Outlook, July 17th

JP Morgan, Merill Lynch, Microsoft are the big earnings headlines for tomorrow.

JPM Reports before market open, possibly setting the tone for the markets overall performance.

Along with these large cap stocks, a few Regional banks and commodity companies will be reporting earnings.

After what happened today, with Wells Fargo, 1 company beating estimates= over joyous market.

We will probably see the same type of action as today but profit taking will probably be taking place at the same time.

USO, UNG, GLD were bought into weakness today. While selling to strength had a lot of large cap stocks.

Tomorrow could be an interesting day given that earnings season is in full force.
It all rests on JPM earnings before the market.

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