Friday Fizzle

Small caps continue to be the weakest of the bunch. As I’m typing this, about half an hour before the open, it’s down over 1% while the ES is down 2/3rds of a percent and the NQ is down just half a percent.

As the dollar is getting a bit of strength, gold continues to weaken.

As we are moving into the thick of earnings season, it’s interesting to see how the market is digesting the news. All the excitement around Intel’s report yesterday afternoon has been utterly neutered.

Of course, the big week with respect to earnings is next week, when all the monsters like AMZN and GOOGL roll out the door. It should be a refreshingly dynamic week of news.

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