Investors have generally been impressed with this earnings season. More than 70% of the S&P 500 companies that have reported so far have beat expectations. Jobs remain the biggest sore spot. However, the tech sector looks deeply overbought technically and subject to a mild correction. Positive news are already priced in. The implied volatility inched higher as market fears surfaced.
Sunday, May 1, 2011
Lacking catalysts
Investors have generally been impressed with this earnings season. More than 70% of the S&P 500 companies that have reported so far have beat expectations. Jobs remain the biggest sore spot. However, the tech sector looks deeply overbought technically and subject to a mild correction. Positive news are already priced in. The implied volatility inched higher as market fears surfaced.
