IBM is trading 7% lower on Wednesday morning, after beating Wall Street consensus for earnings and revenue but missing on guidance. Can it go lower? Yes, I believe it can… read on. IBM reported earnings per share of $2.45 and total revenue of $19.1 billion, compared to analyst expectations of…
Broad Stock Market Futures Outlook for April 18, 2018 Solid earnings continue to present, Yemen missiles and API drawdowns in inventories have the indices we watch moving into higher resistance once again. These are all key levels of profit taking but there are no setups for short action at this time as…
All you really need to know is whether or not there will be a recession in the next six months. Ok, that is an exaggeration but bear with us. Since about 1950, the average monthly return for the S&P 500 is about 0.7%. That works out to a decent 7.7%…
Lights, camera, action – Netflix stock continues its move higher Netflix (NFLX) is trading higher on Tuesday, following flat earnings and better than expected growth in subscribers. Netflix reported earnings per share of $0.64 and total revenue of $3.7 billion, compared to analyst expectations of $0.64 and $3.69 billion. However,…
You’ve probably heard of the “BRIC Economies” – the kings of the new paradigm in emerging markets, and no doubt are sick of hearing about the “PIIGS Economies” – the Eurozone crisis culprits, but have you heard of the “SCANNZ Economies”? This grouping of: Sweden, Canada, Australia, Norway, and New…
Broad Stock Market Futures Outlook for April 17, 2018 Higher lows prevailed to give us higher highs as buyers push us into regions not seen since mid-March in solid earnings releases. Resistance watches are still the order of the day as momentum holds bullish. How well we bounce off pullbacks will be the…
Macro View While stocks may benefit in the near term from the perceived alleviation of geo-political uncertainties, this may yield to a more pronounced focus on the ability of companies to deliver on elevated earnings expectations. Consensus expectations have earnings rising 18% on reported basis in the first quarter (23%…
So far in 2018, the narrative has been about volatility. Many outlets have expressed concerns regarding the magnitude of daily moves. In most circumstances, I don’t see evidence of that. First lets be clear, 2017 was not common. In 2017 there were only 8 days which experienced 1% moves. Both…
S&P 500 Trading Outlook: Bullish… IF we breakout to the upside. We are still hovering around last Friday’s highs… but the pattern is still quite constructive for a push up over 2700 early this week. Above 2680 on futures has little resistance until over 2700. So breaking above last Friday’s…
National Oilwell Varco (NOV) was trading 5% lower on Monday morning after the company warned that Q1 revenue would be lower than expected. After last week’s big move higher, today’s dip produced what is known as a “kicker pattern,” which often signifies a tone change. NOV announced today that it…