A Support Bounce - INTC Moves Big In After Market Trading

DJIA + 60.41, +0.49% SP500 + 6.11, +0.46% NASDAQ Comp. + 10.22, +0.45% Russell 2000 + 5.99, +0.87% The broad indices moved higher today forming a potential higher low in between the 38.2% and 50% Fibonacci Retracements levels of the move from March 10 to April 7. The rally did not penetrate the R1 (resistance) mid-section of Friday’s large black candle. Stay focused on the charts to see if the market continues its support bounce tomorrow. DJIA, S&P, Nasdaq and Russell futures are up in after market trading. I suspect this is in response to INTC moving up over 7% also in after-market trading on a positive earnings announcement after the close. INTC is a member of the DJIA and is a bellwether for the semiconductor industry. The ETF’s DIA, SPY, QQQQ and IWM did not form Morning Stars today but all four did have hammer formations today. Watch for confirmation on Wednesday and trade accordingly. Since earnings season is here I will be highlighting stocks that have notable price action as a result of earnings announcements for the next two to three weeks. This will be in addition to stocks that I am currently watching. So stay tuned for some exciting developments. Today’s Action Moving Higher on Earnings Today ADTN, IIIN, INFY, MTB Moving Down on Earnings Today FRX, STT Big Moves From After Hours Earnings BMI, INTC Stocks Moving Higher AGU, EXPE, FSLR, JASO, MEE, MOS, POT, SCHN, Stocks Pulling Back BIDU, CF, CLF, MON, MTL, PCLN Stocks Moving Lower AMZN, DECK, GRMN, UAUA Brokerage stocks GS, LEH, MER, MS along with FWLT moved slightly higher today after several down-trending days Intermediate Term Market Trend: Neutral Short Term Market Trend: Down