Place Your Bets

Apple earnings coming up tonight will certainly give the feel of us officially being in the heart of earning season, not to mention being in the thick of a big week for macro. 

Small caps are outperforming for a change today, thanks in part to the smaller bios leading the charge. We are looking to see if those moves have legs and keep the bears at bay, though we know the FOMC tomorrow afternoon is a high risk even for anyone leaning too heavily in any given direction at the moment. 

Therefore, we are taking setups on a case-by-case basis, in lieu of trying our hand at the fashionable activity of making the next big market well.

As for AAPL, as long ad it holds $120 after earnings it is still constructive. Also keep an eye on some chip suppliers for sympathy moves: ADI CRUS SWKS TXN. 

See you after the bell for my recap.