Tie Goes to the Money Runner

A virtual tie amongst those firms reporting earnings last evening and this morning, namely BYND DIS LVGO SQ TDOC TWLO, is a glaring theme so far today, with DIS SQ boosting the bull case while BYND LVGO TDOC TWLO are selling off a good deal. The caveat, of course, is that the likes of LVGO TDOC TWLO all screamed into earnings and, thus, are still very comfortably up not only since the March lows but also since the Fourth of July. 

On that note, as has been the pattern with this market for a while now, any ties or close-calls go in favor of the bulls. Specifically, today's market is attempting to stage a clear rotation from the lagging-but-green QQQ large cap tech names up to the mega caps in the Dow (thanks mostly to DIS today) and the small caps in the IWM. 

With the Dollar still struggling to hold a bounce, and The Fed actually pining for inflation, bears have a tall task to bring this market down. However, I still view the Nasdaq itself as a rally running thin and on borrowed time, albeit with a name like TWTR still a rotation candidate

Thus, the bull case as a seasonally rough time of year ramps up likely hinges fully on whether this move in the Dow and IWM can hold beyond a day or two.