Alexa, Play Fall Out Boy

First, I'd just like to point out the image inside this post may be one of the most unhinged free images I've ever seen. It is truly a masterpiece. Bravo to the artist who created it. Now, back to what's happening in the markets. Well, the downtrend remains firmly intact. Selling pressure has remained relatively strong in the face of less-than-stellar earnings results/guidance from the Big Tech players as the S&P 7 tries to rejoin the S&P 493 in some kind of almost logical reality.

Amazon's earnings from after close yesterday have given the markets a little hope going into the weekend. They're really the first of the bunch to have beats on earnings for the quarter and to have decent guidance for the next quarter. A small glimmer of hope in a week that has otherwise been pretty grim since Tuesday afternoon. PCE came in this morning basically as expected, with results really not trending either good or bad, and at 10am ET we will get the Michigan data. My inclination for today is to look for a morning trend after Michigan and then see if there is a mean reversion in the afternoon. Won't be pushing too hard on a Friday, but will be trading smart to end the week on a high.

There's nothing wrong with starting and ending the week well. Always have a plan for what works best for you and your performance, but for me I'm always a little more patient and thoughtful about my trades on those days because they really set the tone for my week and then my weekend. There's no worse feeling that going into the weekend after you had a stupid day of trading and ended red. End the week feeling good, don't focus on the money.

Here are today's NQ levels:

Current Price: 14305

Upside Targets: 14336, 14369, 14429, 14468

Downside Targets: 14251, 14181, 14140, 14069

Stretch Targets: 14536, 14031