Today saw a choppy session for U.S. equity markets as earnings and economic data sent markets lower in the morning before bringing them back to close in positive territory. ADP Employment numbers were released this morning coming in slightly above to in line with most analyst estimates. January ISM non-manufacturing numbers were also released today coming in slightly higher than analyst estimates. Today after the bell TWTR will make their first ever quarterly earnings announcement, a release that will be highly scrutinized. Markets are likely range bound today in anticipation of earnings releases and economic data tomorrow including jobless claims. As far as earnings we are looking for moves higher in TWTR, GMCR, and YELP. Bullish order flow in BG also led us into a long call position today and profits were taken in several old long positions. Looking to Friday we will continue to be selective about new longs and will likely continue with caution going into the release of the January employment situation.
Andrew Keene
http://keeneonthemarket.com
