21Jan3:15 pmEST
Know What Could Really Help the Market Sort Through These Important Issues?
Well, perhaps not. But with Starbucks reporting earnings after the bell tonight, it may shed light on whether this market wants to continue to enjoy a bit of a relief rally off of the initial downtrend to begin 2016.
On the multi-year winning chart SBUX, below, we still have a very steep angle of ascent which is very likely to be snapped off a deeply corrective or bearish broad market.
Hence, I suspect the reaction to SBUX earnings tonight and tomorrow will be of even more significance from a pulse of broad market sentiment--If the stock rallies on likely strong earnings, it probably reinforces the notion of at least a relief rally afoot. But selling off on "good news," something we have seen quite of a bit of late, makes the rally all the more suspect.
