INTC Jumps 92 cents After Earnings Beat Estimates and Profits Triple...

DJIA 11,019.42 +13.45 +0.12%
SP500 1,197.30 +0.82 +0.07%
COMPQ 2,465.99 +8.12 +0.33%
Russell 2000 707.03 +1.97 +0.28%


Exchange NYSE NASD
Advancing 1,572 1,383
Declining 1,488 1,302


Oil $84.05 -0.29
Gold $1,153.00 -9.60
SOX 381.33 +2.36
VIX 16.20 +0.62

Index Direction Confirmation
VIX Up No – SPX
SOX Up Yes – COMPQ

Strongest Sectors: XLY +0.53%…XLK +0.30%...XLI +0.16%
Weakest Sectors: XLU -0.53%...XLB -0.37%...XLE -0.35%

Five of nine sectors moved higher on Tuesday. Consumer Discretionary, Technology, Industrials and Healthcare were stronger than the SPX +0.07%.

Sector Watch
Up Trending: XLY, XLI, XLP, XLF
Horizontal Breakout: XLK
Sideways: XLB, XLE, XLV, XLU
Down Trending:

Key Resistance Levels
1,200 = Jul 2008 support
1,216 = Fib extension
1,220 = Sep 25, 2008 resistance
Key Support Levels
1,178 = Fib extension
1,155 = 1,119 BO chart target – Dec 23

After the close INTC rose 92 cents after reporting 43 cents earnings vs. estimates of 38 cents. In the same quarter a year ago INTC earned 11 cents per share.

Also after the close...LLTC rose 85 cents after reporting 44 cents vs. 39 cents estimate…CSX rose 67 cents after reporting 78 cents vs. 69 cents estimates.


Before the open FAST +1.10, +2.12% reported 38 cents vs. estimates of 33 cents…INFY +1.62, +2.64% reported 61 cents vs. estimates of 57 cents.

Tuesday’s strong positive reaction to FAST and INFY earnings as well as the after hours positive reactions to good earnings from INTC, LLTC and CSX is a very good start to the earnings season. Also AA meeting estimates and essential a neutral reaction to the news adds strength to the idea that sellers may not have the catalyst to move the market lower.

Many individual stocks like ESI, URE, NFLX, SPG, AMED, UNG, USD, DECK AMD, JEC, SWK, UNP and WAB had relatively strong gains on Tuesday.

Look at these Charts

(click image to enlarge)

Key Earnings to Watch:
Wednesday – JPM, JBHT
Thursday – AMD, CBST, GE, GOOG, ISRG
Friday – BAC, PBR

Guidance:
The SPX closed at 1,197 forming a potential hanging man which did NOT confirm Monday’s potential shooting star.

Continue to trade with the trend. Be mentally flexible.

The intermediate term chart target is still 1,255 in approximately nine weeks after the 1,150 breakout on March 16.

The VIX rose +0.62 and did NOT confirm the higher close on Tuesday.

The short term trend is up.
The four-month trend is up.
The twelve-month trend is up.

Continue to focus on and trade setups on the charts of the stocks you watch trade with the trend and follow your rules.

Adjust your stops according to your rules for up and down trending trades.

AAPL +0.14
QCOM +0.07
GOOG +14.04
BIDU +0.50
NDX 100 stocks stronger than the NDX include: ISRG, APOL, CTSH, YHOO, NWSA, RIMM, INFY, GOOG, IACI, FAST, NVDA, VRTX, CELG, MXIM, INTU, BRCM, WYNN, MCHP, HOLX, AMAT, MICC, ALTR, LLTC, GILD, NIHD, INTC, KLAC, SBUX, XRAY, ROST, SIAL, WCRX, ADSK, PCAR, CTAS, XLNX, GRMN, URBN, DISH, PDCO, HSIC,ORCL, JBHT, AMGN, ESRX and EXPD.

Stocks to Watch on Wednesday
Holding Above 30 DMA
CBST, DLB, NFLX, UAUA, BA, CREE, WHR, WLT, PCLN, PCP, GR, BUCY, UNP, CAT, SPG, V, CLF, ESI, DE, UNP, V, BAC, DE, DHR, URE, JEC, GES, GMCR, TDG, FAS, UYG, X, USD, SNDK, DECK, MELI, FLS, HDB, HLF, VAR, ATI, GS, DOW, AMD, AMX, WFC, CEDC, MA, ZION, BKC, MCD, GME, FCX, TSL, BYI, USO, CAM, SYNA, ATW, STT, CHL, SWK, ACN, WAB, ALGT, AMED, SWN
Moving Above 30 DMA = 1
ESI
Moving Below 30 DMA = 2
BDX, WMT
Staying Below 30 DMA
HANS, MHS, WCG, PWRD, AGU, K, ICE, MYGN, IPI, POT, MOS, HEAT, VPRT, CGA, FUQI, FAZ, UNG, MON

Intermediate Term Market Trend: Up
Short Term Market Trend: Up