The major averages ended higher after Greece received an international aid pledge to help it get through its worst financial crisis since WWII. Volume totals on the NYSE and on the Nasdaq exchange were reported mixed; lower on the NYSE and slightly higher on the Nasdaq exchange compared to Friday’s totals. Breadth was positive as advancers led decliners by a 11-to-8 ratio on the NYSE and by a 5-to-4 ratio on the Nasdaq exchange. New 52-week highs trumped new lows on both exchanges yet again. There were 61 high-ranked companies from the CANSLIM.net Leaders List that made a new 52-week high and appeared on the CANSLIM.net BreakOuts Page, higher from the 48 issues that appeared on the prior session. A healthy crop of new leaders making new highs bodes well for any market rally, so the recent expansion in leadership has been a welcome post-holiday improvement.
Euro Surges On Greek Bailout Hopes:
Over the weekend, Greece received a promise of as much as 45 billion euros ($61 billion) in loans from the EU and International Monetary Fund to help the troubled nation remain solvent and avoid a default. The euro surged on the news helping offset some of the recent losses. In the US, the Dow Jones Industrial Average closed above 11,000 and the S&P 500 approached the psychologically important 1200 level for the first time since September 2008 (when Lehman failed).
Q1 Earnings Season Begins!
After the close, Alcoa Inc. (AA) kicked off Q1 earnings season and reported a narrower Q1 loss, citing improving demand. Analysts believe that combined profit for S&P 500 companies will jump +30% from Q1 2009. Remember that companies will begin reporting Q1 earnings in droves over the next few weeks and it is imperative for investors to not only pay attention to the results but how the stock reacts to its earnings.
Market Action- Confirmed Rally:
The benchmark S&P 500 Index currently has 5 distribution days while the Nasdaq Composite and Dow Jones Industrial Average have 4 since the March 1, 2010 follow-though-day (FTD). These distribution days have not been damaging which is a welcomed sign. Trade accordingly.
Professional Money Management Services- Free Portfolio Review: Our skilled team of portfolio managers knows how to follow the rules of this fact-based investment system. If your portfolio is greater than $100,000 and you would like a free portfolio review, Click Here to get connected with one of our portfolio managers. ** Serious inquires only, please.
Host Of The #SmartMoneyCircle Podcast, Founder and CEO of 50 Park Investments. Adam provides weekly market updates to ChartYourTrade.com readers. He is a FORBES Contributor and is a frequent guest on all the major financial media outlets.
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Disclaimer: All communication from ChartYourTrade is general in nature and for educational and general informational purposes only. Under no circumstance should it be considered personalized investment advice. All our work is general in nature and not specific to any one person. All the information on this site and/or that originates from us, or any of our partners or affiliates, is for educational and informational purposes only and is NOT a recommendation to buy or sell anything. To avoid any conflicts of interest, we do not have a working relationship with any of the companies mentioned in our work. Furthermore, we may have a long, short, or no position in any, or all, of the names that appear in our work and they may change at any time without notice. Investing and trading in capital markets or using margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you as well as for you. Before you decide to invest or trade in capital markets you should carefully consider your investment objectives, level of experience, and risk appetite, among other factors. The possibility exists that you could sustain a loss of some, all, or more of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with capital markets, investing/trading, and seek specific investment advice from an independent financial advisor and other professionals. Remember all the information we provide is for educational and general informational purposes only and is subject to change without notice.
Q1 Earnings Season Begins; Stocks Edge Higher
Monday, April 12, 2010
Market Commentary:
The major averages ended higher after Greece received an international aid pledge to help it get through its worst financial crisis since WWII. Volume totals on the NYSE and on the Nasdaq exchange were reported mixed; lower on the NYSE and slightly higher on the Nasdaq exchange compared to Friday’s totals. Breadth was positive as advancers led decliners by a 11-to-8 ratio on the NYSE and by a 5-to-4 ratio on the Nasdaq exchange. New 52-week highs trumped new lows on both exchanges yet again. There were 61 high-ranked companies from the CANSLIM.net Leaders List that made a new 52-week high and appeared on the CANSLIM.net BreakOuts Page, higher from the 48 issues that appeared on the prior session. A healthy crop of new leaders making new highs bodes well for any market rally, so the recent expansion in leadership has been a welcome post-holiday improvement.
Euro Surges On Greek Bailout Hopes:
Over the weekend, Greece received a promise of as much as 45 billion euros ($61 billion) in loans from the EU and International Monetary Fund to help the troubled nation remain solvent and avoid a default. The euro surged on the news helping offset some of the recent losses. In the US, the Dow Jones Industrial Average closed above 11,000 and the S&P 500 approached the psychologically important 1200 level for the first time since September 2008 (when Lehman failed).
Q1 Earnings Season Begins!
After the close, Alcoa Inc. (AA) kicked off Q1 earnings season and reported a narrower Q1 loss, citing improving demand. Analysts believe that combined profit for S&P 500 companies will jump +30% from Q1 2009. Remember that companies will begin reporting Q1 earnings in droves over the next few weeks and it is imperative for investors to not only pay attention to the results but how the stock reacts to its earnings.
Market Action- Confirmed Rally:
The benchmark S&P 500 Index currently has 5 distribution days while the Nasdaq Composite and Dow Jones Industrial Average have 4 since the March 1, 2010 follow-though-day (FTD). These distribution days have not been damaging which is a welcomed sign. Trade accordingly.
Professional Money Management Services- Free Portfolio Review:
Our skilled team of portfolio managers knows how to follow the rules of this fact-based investment system. If your portfolio is greater than $100,000 and you would like a free portfolio review, Click Here to get connected with one of our portfolio managers. ** Serious inquires only, please.
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Disclaimer: All communication from ChartYourTrade is general in nature and for educational and general informational purposes only. Under no circumstance should it be considered personalized investment advice. All our work is general in nature and not specific to any one person. All the information on this site and/or that originates from us, or any of our partners or affiliates, is for educational and informational purposes only and is NOT a recommendation to buy or sell anything. To avoid any conflicts of interest, we do not have a working relationship with any of the companies mentioned in our work. Furthermore, we may have a long, short, or no position in any, or all, of the names that appear in our work and they may change at any time without notice. Investing and trading in capital markets or using margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you as well as for you. Before you decide to invest or trade in capital markets you should carefully consider your investment objectives, level of experience, and risk appetite, among other factors. The possibility exists that you could sustain a loss of some, all, or more of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with capital markets, investing/trading, and seek specific investment advice from an independent financial advisor and other professionals. Remember all the information we provide is for educational and general informational purposes only and is subject to change without notice.
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