Earnings this week

Beautiful start this morning but let's see if it holds. If it does, I am going to buy more at the end of the day. I can easily see SPX moving up another 20-40 points until it meats some resistance (judging by the volume occurred in the last 4 months since the start of the last rally). Of course SMA100 and SMA50, now around 1135-1140, are also potential resistance levels. For clarity I removed EMA50 and EMA100 I am usually showing on daily charts.

Some well known companies are reporting earnings this week, ADBE, WAG, BBBY, RHT, ORCL, NKE.  Be careful if you buy them before earning announcement. Usually I buy after the earnings since I don't like bad surprises. If I buy them before earnings, I am buying "straddles", a "call" and a "put" with the same strike and the same expiration date. This way I am long and short at the same time. To make money I need the underlying stock to move substantially either up or down.