14% of S&P 500 companies have reported earnings so far, more than 82% have easily beat and raised guidance, and yet 78% saw their stocks fall by more than 1%. What is that telling us about current earnings sentiment? I often remind everyone that when you are looking at Market Internals it is the trend that matters, not the absolute reading. All of my internal charts are showing a trend of deteriorating conditions and I like $SPY butterfly hedges. Refreshing bull case for $MANH which was covered twice previously in Conversations and stock recently started to breakout after 6 months of consolidation. Lastly, first time covering $DS which runs the same kind of business operations as TopGolf but at a much smaller scale (only 4 locations currently). Could be something big down the road.