A strong Yen this morning will not make money for the S&P 500 and will likely begin reigning in the S&P 500 gains given at the open. Earnings season continues to generate trading opportunities.
Day trading during earnings season has a lot to offer the broad spectrum / index trader. One of the great ways to work the market during earnings season is to work the re-coupling of indices to their macro drivers when they get pulled out of whack by microeconomic (individual) earnings reports.
A weak USD vs the major forex trading pairs making for a positive open on the S&P 500. Futures are up slightly just prior to the bell. I will be watching the VIX in addition to the usual forex crosses to determine market direction today. My instincts tell me VIX falling...
Risky forex trading crosses fell pre-market - making for a like down start for the S&P 500 this morning. Although the futures market reaction has been muted early the gap down is widening as I am typing this.
