Welcome To Earnings Season

There is no doubt that the stock market will continue to be very volatile the next couple of weeks. Such extreme volatility does not bode well for technical analysis. GE's earnings report today showed us just that. Why did anyone expect anything but bad results from GE? Most of the weakness came from there financial operations. This should have been expected and we should not have seen such a strong movement to the downside. The Consumer Confidence data was dismal however, the worst reading since the 1980's. The market is extremely data sensitive, which makes it even tougher to perform technical analysis. With that being said risk management is the name of the game. Basic common sense combined with technical analysis will keep us in the game. I will post the results of this week's watchlist later this weekend. Keep your eye for a new watchlist on Sunday.