Will Wednesday finish mixing the indexes?
Tuesday brought us a little mixed outcome on the day. The Nasdaq Composite closed slightly red, while the Nasdaq 100, S&P 500 along with the Dow closed green on the day. All very narrow ranges, but volume was very good leaving accumulation day once again for the big caps and a distribution day on the Nasdaq. Tech was fairly mixed with a red day on the SOX (semiconductors) but green on the Hardware and software sectors. Again the ranges were narrow, so not a lot changed across the markets today. After hours maybe was more significant than the intraday market action.
Gold fell on the day down $1.40 at $692.50. Crude was also down on the day 51 cents at $63.10. Ahead of the crude inventories on Wednesday. After hours stayed pretty upbeat with INTC, and LLTC, both trading higher. IBM and YHOO both started up and fell in the later after hours session. Leaving a mixed tone and futures are trading lower as I type this. With no early data due and only oil we will be earnings dependent for volatility. Several big names are pre market so that will add additional volatility.
Economic Data for Week of April 16 – 20 Wednesday 10:30 Crude Inventories, Thursday 08:30 Jobless Claims, 10:00 Leading Indicators, 10:30 Natural Gas Report, 12:00 Philadelphia Fed, 03:50 SF Fed Bank Pres Yellen speaks, Friday 12:00 Treasury Secretary Paulson Speaks, 12:15 Fed Governor Mishkin Speaks.
Some earnings for the week: Wednesday pre market AOS, ABT, AMR, ASML, BK, DSL, JPM, MOT, PNC, UTX, and after the bell CTXS, CBST, EBAY, GILD, ISIL, MOGN, NVLS, SYK. Thursday pre market MO, ASD, BAC, BAX, BBT, BLK, BOT, CAL, DHR, DHI, FITB, FCS, HOG, HSY, IGT, MRK, MER, NDAQ, NYT, NE, NOK, NUE, OXPS, BTU, DGX, SGP, POOL, SHW, LUV, STJ, TASR, UTEK, UNP, UNH, WCC, WYE, Intraday AXP, After the bell AMD, COF, CERN, CREE, FNB, FDC, GOL,GOOG, ISRG, ZION. Friday pre market CAT, HON, MAN, MCD, PFE, SAP, SLB, WL, WIT, XRX and nothing of interest after the bell. Keep in mind companies can change days and times of reporting last minute so you should check always if you are holding something reporting.
Compx (Nasdaq composite) closed -1.38 at 2516.95. Support: 2491.94 (fills gap), 2482.17, 2472.35, 2463.76, 2444.44 50dma, 2422.98. Resistance: 2522.63, 2531.42 (years high), 2585.78, 2600.37. Daily chart below
http://www.falkininvesting.com/blog/wp-content/uploads/2007/04/41807compx.jpg
Going into Wednesday the gap maybe our first play, then we have to see if INTC gives up those after hour gains to drop the tech stocks and pull us in.
361 subscribers! Great job, you’ll hit the 1k mark before you know it!
FT
Thanks FT, I plan on getting there at the same time as you man, we both are on a roll!