It’s entirely possible that investors will have to reconcile conflicting signals like these across all of earnings season. That means on any given day the stock market could stage a sharp rally just as easily as it could sell off.How should you position?

Instant insights with the Fast Money tradersIn this kind of environment, trader Guy Adami says technical are not to be ignored. In the near term, he thinks it’s a bullish sign that the S&P traded down to 1325 and then bounced. (1325 is a key technical level – a point of past support and before that resistance.) “If we close in positive territory it would auger well for the rest of the week.”Trader Murphy says much the same. “The ranges are very important right now. The market is trading very technically. “I’m a buyer on down days and seller on up days.”

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