BMO – ES -1.00 and NQ -14.00 futures are lower about 20 minutes before the open in pre-market trading and point to a mixed open…volume is moderate for pre-market with slightly more stocks quoting down than up…Financial stocks, XLF is up 3 cents on 63,500 shares in pre-market at this time…
Housing starts up 15% in September, strongest in 17 months, CPI increased only 0.1% in September…
TLT is down 85 cents and the Euro is up 115 pips in overnight trading …
NDX leaders AAPL, AMZN, BIDU, GOOG and QCOM are quoting lower… PCLN no volume…
AAPL -20.93, -4.93%, announced earnings after the close on Tuesday of 7.05 vs. estimates of 7.39 were up 54% from a year earlier, revenues of $28.27 billion vs. estimates of 29.7 billion were affected by iPhone sales below expectations.
INTC +0.89, +3.80% reported 65 cents vs. estimates of 61 cents on record revenues, strong growth rates and raised Q4 guidance.
ISRG +26.21, +6.85% after earnings
MS +0.49, +2.95% also after earnings..
Oct 17 – 21 Earnings Highlights of Interest:
Monday – C, HAL, HAS, IBM, SWK, STLD, VMW, WFC
Tuesday – AAPL, BAC, CHKP, CREE, CSX, INTC, ISRG, JNJ, JNPR, LLTC, STT
Wednesday – AXP, AMR, APOL, CRUS, EBAY, FCX, LRCX, RVBD, TRV, UAL, UTX, WDC, WYNN, XLNX
Thursday – ALXN, ALTR, T, CY, FLEX, INFA, ESI, KELY, MXIM, MSFT, PCX, SNDK, ST, TPX
Friday – MCD, SLB, STI, VZ
Dave’s Insight for Wednesday: higher Euro…weaker bonds…Financials up…AAPL down…setting up a mixed open …With the SPX at the 1,225 resistance, watch for a potential breakout …SPX is in a 5 day trading range of 1,200 – 1,225…Follow your entry signals and take trades according to your rules…Watch XLF, TNX, volume and breadth as key factors in any SPX move…move stops on profitable trades…
SPX
Resistance: 1,216, 1,230, 1,249
Support: 1,205, 1,177, 1,160
Quoting Down – AAPL, PCLN, BIDU, AMZN, LLTC, LNKD, VMW, CREE, TLT, GS, SNDK, SINA, FAZ, SWKS, STI, LVS, RCL, NFLX, WYNN, QCOM, GOOG, BRCM
Quoting Up – ISRG, APOL, WFM, EBAY, CTXS, INTC, FCX, WDC, V, CAT, GMCR, CROX, TBT, UCO, YHOO, SHLD, NTAP, ESRX, STX
1 comment:
Dave - Your daily and at times intra day posts are invaluable - Thanks!!
Question - Do you see a "Bearish Divergence" on the $SPX and/or SPY from the September highs and now the October highs? If yes, how much weight of the evidence would you put into this technical observation?
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