It looks like the positive reaction to INTC, LLTC and CSX earnings is going to carry over into the broader market this morning. Financial and energy are also looking strong this morning…
Look for the SPX to break its 1,200 resistance and move towards 1,216 on its way to the 1,255 target.
JPM reported 74 cents vs. estimates of 64 this morning before the open…
Pre-Market
JPM +1.55 beats estimates
INTC +1.01 beats estimates
LLTC +1.05 beats estimates
CSX +1.22 beats estimates
Key Earnings to Watch:
Wednesday – JPM, JBHT
Thursday – AMD, CBST, GE, GOOG, ISRG
Friday – BAC, PBR
As of the close on Tuesday the short term, intermediate term and long term trends are up.
April options expire on Friday.
Trade those charts that meet your rules in the direction of the trend.
The Euro is down 7 pips in overnight trading. Oil is up 72 cents in electronic trading. XLE is up 10 cents in pre-market trading.
SPY is up 48 cents in pre-market trading. XLF is up 21 cents on the JPM earnings in pre-market trading. Watch XLF as a key to any sustained move in the SPX.
Follow your rules in any trading actions today. Be logical.
Look at these Charts
(click image to enlarge)
SPX
Support = 1,178, 1,165
Resistance = 1,200, 1,216
Trading Down: POT, MOS, IPI, FAZ
Trading Up: FAS, GS, CREE, WLT, CLF, USD, X, FCX, SNDK, BA, WFC, STT, MCD, NFLX, MHS, BAC, BUCY, USO, AMD, CAT, ICE, ZION, GMCR, FUQI, UYG
At the Open on Wednesday
SPY –
QQQQ –
FAS –
X –
ADBE –
BBY –
QCOM –
POT –
CREE –
UAUA –
SNDK –
AAPL –
ALGT –
NFLX –
RIMM –
SHLD –
BUCY –
BA –
DOW –
DE –
FCX –
WHR –
ZION –
GMCR –
AGU –
IPI –
DHR –
V –
NVDA –
AMD –
PCLN –
DECK –
CAT –
PCP –
UNP –
CLF –
1 comment:
Thank you Dave.. The clarity of which stocks on earnings to make note of has helped a lot of us here. Previously we had been writing down many of the earning stocks from the investools page, but these key three or four stocks each day is a major help. Thank you, as this comes from your time and dedication, but please know that it is a very helpful refinement, even from last earnings season. Recently I have been making plays on many of these earning stocks and the ones I don't I have been doing in the paper trade. I can feel the "skill to do comes from the doing" getting just a little sharper each day. Recently I have been taking EVERY ENTRY SIGNAL on a high volume stock that happens at least on paper (with just a few in real account) and it has amounted to close to a hundred plays in just a weeks. My goal is to have the "real" and "paper" trades look, feel and be just the same regarless of the amount of money in each one. Your blog is really making quite a difference for me. We are very glad you can go share this live next week with more folks as well.
Post a Comment