Will Netflix Help the Nasdaq Take a "Turn"?

That would certainly be the bear hope at this point--That NFLX flops tonight after earnings and sets the tone for a "sell the news" rest of summer with all of the major leaders reporting in the next few weeks. 

However, given the small caps' resilience, yet again, today, it is awfully difficult to anticipate a major downside reversal in the market despite how many traders seem to be looking for evidence of one coming soon. 

Technically, Netflix is in a good spot, still, not far from recent highs and absorbing some selling in June rather well. As we know, though, earnings are often a wildcard and a clear risk. 

In lieu of trying to get cute with gamesmanship into NFLX earnings, we are therefore simply focused on picking off some plays here and there like EPAY and CONN. As long as the market continues to show resilience, even with IWM not quite sealing the deal for a major breakout, we will keep staying opportunistic in our approach for Members. 

More in my recap after the bell.