Coincidence?

Good Morning Folks, 
Markets are flashing red this morning as several companies have reported less than stellar earnings. This is a big week for earnings and we have some big names reporting that can have a real impact on the markets. Remember that even if the earnings are strong its the guidance that really matters. We have the Fed meeting starting today and an announcement on Wed. I am still in the caution camp as several of my scans are showing overbought conditions nearing the top of some channels. I did like the bounce we had in the IWM however, as I said in the video this weekend I will be more convinced once we take out 121 and then hold over that level as support. 
Oil continues its weakness and and Gold actually had a little bounce near the end of the day. Greece was a non event however I am not convinced that it will remain that way. All I am suggesting is to be cautious if you are swinging or investing,  limit your exposure and don't chase anything, check to see when earnings are going to be announced, wait for a setup, tighten your stops and reduce the size of your positions until we have a clearer picture of where the markets are headed. If you are day trading be quick to book profits and exit failed breakouts even quicker.  

Stocks on the radar    
LSCC decent earnings but buying SIMG if street likes the deal it could get a nice pop, RITT possible red to green very thin so caution, USAT pr nice looking daily can be a pop and flopper but a possible 2 dolla roll,  CANF catching a bounce premarket like the daily but lots of resistance till it clears 4.05 or so, VUZI and HIMX possible red to green moves, CYTK like the daily chart, NDRM looking for possible follow through, ATHX ANAD NLST CPRX possible continuation, MUX already a swing could get some love today 



USO UUP IWM IBB UWTI GASL JDST NUGT SPY NDAQ TVIX TZA for market sentiment

Seeking Alpha

Today's economic calendar:
FOMC meeting begins
8:30 Durable Goods
8:55 Redbook Chain Store Sales
9:00 S&P Case-Shiller Home Price Index
9:45 PMI Services Index Flash
10:00 New Home Sales
10:00 Consumer Confidence
10:00 Richmond Fed Mfg.
10:00 State Street Investor Confidence Index

Notable earnings before today's open: AAL, ABMD, AKS, AMG, AOS, AUDC, AVX, BMY, BTU, CAT, CIT, COH, DD, DHR,DOV, ERIC, FCFS, FCX, FMER, GLW, IIVI, ISSI, ITW, LMT, LXK, MMM, NEE, NUE, NVS, OSK, PFE, PG, PH, PHG, PII, PLD,SNV, TDG, WAT

Notable earnings after today's close: AAPL, ACE, AMCC, AMGN, ARAY, BXP, CLMS, CNI, CNMD, CYT, DOX, EA, ETH,EZPW, FSL, FTK, ILMN, JNPR, MRCY, OTEX, POL, SYK, T, TSS, VMW, WDC, X, YHOO

CNBC in the News

	IN THE NEWS TODAY

Residents in the Northeast were waking up to snow, cancelled flights, and tricky roads this morning, but the winter storm was not nearly as bad as the more severe blizzard forecasts had predicted. | Live blog (CNBC) Many investors and traders in the snowbound Northeast will be working from home, but Wall Street plans to open today. U.S. stock futures were lower inearly trading after a session of little movement Monday. (CNBC) It's a busy day for corporate earnings, with six Dow components on the docket, including 3M (MMM), Caterpillar (CAT), DuPont (DD), Pfizer (PFE),Procter & Gamble (PG) before the bell, and AT&T (T) this afternoon. (CNBC) Caterpillar Chairman and CEO Doug Oberhelman joins CNBC's "Squawk Box" at 8 a.m. ET to talk about the company's earnings and what he sees for the world economy ahead. Apple (AAPL) is expected to beat expectations, when the tech giant behind the iPhone reports earnings after the bell today. But analysts are watching for any major negatives from the strong dollar and whether iPad sales perked up. Meanwhile, Yahoo (YHOO) is also out this afternoon. (CNBC) Microsoft (MSFT) late Monday reported in-line earnings and revenue above estimates. But the software giant forecast a slower-than-expected increase in cloud-based revenue and a drop in commercial licensing sales. (CNBC) Facebook (FB) and its Instagram service suffered temporary outages early this morning. The social network said an internal software error was to blame not a hacker group, which claimed responsibility. (CNBC) Boeing (BA) and Elon Musk's SpaceX are working on plans to build space taxis to ferry astronauts to the International Space Station by 2017. It's thefirst time NASA updated the public on the space taxi competition. (CNBC) The Obama administration plans to announce today a proposal to open up coastal waters from Virginia to Georgia for oil and gas drilling, but ban drilling in parts of Alaska. (NY Times) President Barack Obama is joining a bipartisan delegation of prominent current and former U.S. officials in Saudi Arabia to offer condolences for the death of King Abdullah and pay respects to his successor. (NY Times) Top officials in the political organization of the Koch brothers have released a staggering $889 million budget to fund the activities of the conservative billionaires' sprawling network ahead of the 2016 presidential contest. (USA Today)

	BY THE NUMBERS

The two-day meeting of Federal Reserve policymakers begins today, with the latest statement due tomorrow at 2 p.m. ET. But there are plenty of economic reports today, with December durable goods orders at 8:30 a.m. ET; the November Case-Shiller report on home prices at 9 a.m. ET; and the January consumer confidence index at 10 a.m. ET.

	STOCKS TO WATCH

Dow component United Technologies (UTX) late Monday reported quarterly earnings that matched estimates, with revenue slightly below forecasts. The industrial conglomerate cut its full-year outlook, due to the effects of a stronger dollar. Dunkin' Brands (DNKN) cut its 2015 full-year forecast to $1.83 to $1.87 a share. That's below the consensus forecast. The operator of the doughnut and Baskin-Robbins ice cream chains also announced a new $700 million share buyback program. Texas Instruments (TXN) earned 69 cents per share for its latest quarter,matching estimates, with revenue also in line. The chipmaker's results are being helped by increasing business from automakers. Google (GOOG) is about to launch its Google Fiber high speed internet service in four more cities, according to the Wall Street Journal. Google will expand the service into Atlanta, Charlotte, Raleigh-Durham, and Nashville, with an announcement expected within days. Best of Success!