Editor's Note

Tonight we are going to hold the positions we have and not add any new ones. The S&P futures are down -6.50 on earnings misses after the bell and the Asian markets are selling off. While the futures could reverse before morning, there is no reason to dive into what could be a strong drop at the open.

Anything we would try to short would likely be gapping lower at the open and not the way we want to enter a short position. Any long positions based on Thursday's close could be deep under water at the open.

The mixed markets on Thursday showed there was no conviction in either direction. However, the majority of the indexes were negative after a big decline on Wednesday. That suggests further declines ahead.


No New Bullish Plays


No New Bearish Plays