NDX trading close to the top of its channel

Just noticed something today!

Big Banks announcing Earnings tomorrow

Some of the big banks like Goldman Sacks, Citi group, USB are going to announce earnings tomorrow (1/18/17) morning... it appeared that the market is in a waiting mode today as it did not move much. Banks are in the spotlight these days after the Fed has hiked the rate last month.

NDX current contition

After making new highs of 4994 the market declined near the end of last month, found support at 4855 on 12/30 has gone up for 4 consecutive days, taking NDX to new all time highs of 5018 last week. In the process the index has broken out of the range that it has traded in during the month of Dec. last year being the most bullish time of the year we can see the index making new highs..

01/06/17

01/03/17