Earnings season kicked off today with Alcoa (AA) after the bell. The common consensus seems to be that this earnings season could be ugly due to bad guidance for the rest of the year. With the last few weeks of bloggers and reports highlighting this however, it makes you wonder if this negative guidance is already baked into the market. We shall soon see.
What I can say though is that preparation is critical, see my guide to navigate earnings season better than the pros.
Also, a great chart today from The Chart Store shared by Barry Ritholtz highlighting the decreasing effect of Fed stimulus on the market. Something to think about if we do see another round of support from Bernanke.
Stay frosty out there and I will see you tomorrow.