AAPL earnings are out...
6.40 EPS vs. 5.37 estimate, 24.67 b vs. 23.38 b estimate...AAPL +10.61, is on the rise...
So I stepped beyond typical protocol this afternoon after the close and turned on the financial channel that is embedded in my trading platform...within minutes I heard two reasons why I don't generally listen...the first was that two financial professionals are being questioned about the second half of the year...the first one responds in part...we like energy and think there is risk in utilites...the second one added we like utilities and contrary to (the first speaker) we think there is expectation risk in energy...so what actionable items can the typical investor take from that?
A few moments later the host Maria is interviewing the head of the NYSE and two of his key execs...after several questions she asks about CEO personalities and competition and asks if this was a factor in preferring the Deutsche Bank takeover bid over the NDAQ bid? They switch the camera from her to him and he responds...first unless I missed an email earlier today its not a Deutsche Bank takeover, its Deustsche Bourse and secondly its not a takeover its a merger...
I was really curious how she was going to handle this major misspeak...when the camera comes back to her, she makes no reference to her errors at all, thanks them for the interview and goes to the next converstaion...
How many errors go unspoken about? What if there wasn't a knowledgeable source on screen when an error is made?
I don't know about you but it just doesn't increase my confidence...
The SPX gapped up and formed a large white candle that closed +17.74 at 1,330.36.
SPX large white candle, above 30 DMA +1.35%
INDU large white candle, new high close, +1.52%
COMPQ gap up, white candle above 30 DMA, +2.10%
RUT large white candle, above 30 DMA, +2.00%
Breadth strengthened on Wednesday as advancers led decliners 4.87 to 1 on the NYSE and 3.17 to 1 on the NASDAQ …
Exchange NYSE NASDAQ
Advancers 2,505 2,018
Decliners 514 636
Index Chg. Close Direction Confirmation
VIX -0.76 15.07 Down Yes – SPX
SOX +18.16 443.42 Up Yes – COMPQ
The VIX made its lowest close since July 6, 2007 when it closed at 14.72.
Leading stocks > +2% on Wednesday included VMW, IL, CRM, CRUS, UCO, NETL, ATW, JDSU, VECO, SMH, AMD, ARUN, A, GLW, SWKS, CIEN, GES, SNDK, FCX, NVDA, CMG, F, WDC, DECK, TIF, FWLT, URE, CSTR, VLO, ANF, SWN, CAT, JNPR, JEC, SLB
Losing stocks < -2.0% included NTES, SOHU, MCP, IAG, SLW, UAL
Positives – SPX, INDU, COMPQ, RUT, NDX, RUT, AAPL, AMZN, GOOG, NFLX, PCLN, QCOM, breadth and sectors strengthened, TBX, TBT, Euro
Negatives – BIDU, TLT, XLF relatively weak
Interest rates TNX +0.44 moved UP and bond ETF TLT moved down 60 cents. Financial stocks XLF rose 4 cents. The Euro moved up 185 pips to 1.4519 at 5 pm on Tuesday.
All nine sectors moved higher on Wednesday. Energy XLE +2.36% and Technology XLK +2.11% were the strongest sectors.
Key Earnings this week:
INTC, WYNN, YHOO, VMW, LLTC, MICC, JNJ gapped up today after reporting earnings Tuesday.
Wednesday – WFC, FCX, UTX, VMED, AAPL, GILD, FFIV, LRCX, QCOM, AMGN, AXP, WDC, MAR, STI, CAKE, UNP, AMR, DAL
Wednesday morning:
WFC falls after .67 EPS vs. .66 estimates, revenues miss
UTX rises after 1.11 EPS vs.1.07 estimates
FCX rises after 1.56 vs. 1.26 estimates
VMED rises after 0.01 vs. 0.04 estimates
After the Close:
AAPL +3.1%, FFIV +12.53%, QCOM +5.19%
GILD -2.53%, LRCX -5.02%, AMGN -2.1%, WDC -1.6%, AXP -1.28%
GILD - misses EPS and Revs...
Thursday – MXIM, SNDK, VRTX, BIIB, AMD, ALD, ALXN, COF, DD, GR, LLL, NEM, NUE, NOK, PCX, PNC, RMBS, SLB, UAL, VZ
Look for selectivity and rotation to occur with positive earnings attracting big money buying and negative earnings attracting big money selling...it is happening yesterday and today...
SPX
Resistance: 1,330, 1,344
Support: 1,321, 1,311, 1,300
The short term 3 day trend is up.
The six-month trend is up.
The twelve-month trend is up.
Trade with the trend of the chart you are trading.
Bullish entry signal is a bounce off support and a break above the high of the low day or a break out of horizontal resistance.
Bearish entry signal is a break of short term support or a bounce down from the 30 DMA or other resistance.
AAPL +4.55 – gap up, spinning top
AMZN +5.05 – gap up, white candle, bull flag bounce
BIDU -0.59 – black candle, new high
GOOG +4.20 – bullish harami, inside day
NFLX +2.88 – spinning top, bounce continuation
PCLN +5.82 – gap up, shooting star, new high close
QCOM +1.85 – gap up, white candle
NDX 100 stocks stronger than the NDX include MU, INTC, FFIV, KLAC, ALTR, WYNN, SHLD, YHOO, AMAT, CTXS, ADSK, SYMC, LRCX, MXIM and MCHP.
Stocks weaker than the NDX include APOL, URBN, ISRG, BIDU, ADBE and GILD.
Stocks to Watch on Thursday
Holding Above 30 DMA
HUM, GMCR, HLF, SINA, UCO, CSTR, WDC, DHR, NTES, MCP, A, WLT, ACN, SOHU, CMG, ANF, DECK, DLR, CRM, LVS, TIF, V, NDAQ, NYX, SNDK, CIEN, IL, VMW, FAZ, SWK, URE, ATI, TLT, CF, AGU, AKS, ARUN, CHL, CLF, DOW, MHS, POT, UNG, ZION
Moving Above 30 DMA = 12
AMD, CAT, DE, F, FCX, GES, IPI, JEC, NETL, NVDA, SMH, SWN
Moving Below 30 DMA = 2
SLW, UNP
Staying Below 30 DMA
PCX, TSL, IAG, GS, CDE, FAS, STI, TBT ESI, FWLT, HAS, SLB, VECO, VLO, ATW, MOS, X, ICE, CAM, RVBD, JNPR, BAC, GLW, JDSU, CRUS, SWKS, LDK, UAL
Intermediate Term Market Trend: Up
Short Term Market Trend: Up