The market traded sideways on Thursday but Friday could be a much different story. Better than expected earnings from Intel (INTC) tonight could fuel gains for the technology sectors tomorrow. Meanwhile JPM is due to report earnings on Friday morning and their report will set the tone for the financials. I am somewhat concerned that the rally is looking tired but the trend remains higher.
I'm not adding any new positions tonight. We just closed six bullish candidates at or near our targets today. Readers may want to glance at some of my higher-risk, aggressive candidates currently on my watch list. NFLX, PCLN, ISRG, and CMG all look ready to move higher but buying calls on these right now could be a big gamble.
Alternative you could look for short-term trades in the semiconductor sector or the banking industry based on the earnings releases.