Back to the Future Earnings

After trading higher last evening after earnings, spieling over into the pre-market trading this morning too, software growth play Twilio is suffering a classic "sell the good news" reaction during the cash session. As I write this, TWLO is off by more than 4.4% and sporting a rather ugly candlestick so far, as seen on the updated daily chart, below. 

Furthermore, this TWLO reversal seems to be impacting plenty of tech names far more than the AAPL strength. Indeed, plenty of software names are slumping at the moment, begging the question as to whether the market is looking out to future earnings and discounting any good news we know of up to this point. 

With an FOMC later today at 2pm EST, I am looking to see whether buyers have the gumption to step back into a name like TWLO today, or instead are inclined to back away with plenty more data and earnings this week ahead--If it is the latter, my bias into the FOMC will be to trim long exposure.