Markets are little changed since my last post on April 5th. Tech is till lagging with weakness in tech titans AAPL and GOOG, as well as disappointing guidance from INFY late last week.The SPY is carving out an inverse H&S pattern, but earnings will be key.
Companies reporting earnings the week of April 18th-22nd include:
- Monday: C, LLY, HAL, KEY, AMTD, GWW, TXN, and ZION.
- Tuesday: BK, CMA, FRX, GS, JNJ, NTRS, BTU, STT, USB, CREE, CSX, HBHC, IBM, INTC, ISRG, JNPR, MANH, STX, STLD, VMW, and YHOO.
- Wednesday: ABT, MO, AMB, T, ATMI, ELN, EMC, FCX, HBI, FCX, NDAQ, DGX, WFC, AMGN, AAPL, CPHD, CAKE, CMG, ETFC, FFIV, GILD, LRCX, MAR, QCOM, WDC, and YUM.
- Thursday: BBT, BIIB, BLK, CNH, CY, FITB, GE, MCD, NOK, NUE, PCX, PM, SLB, TZOO, VZ, AMD, SNDK and SYNA.
- Friday: Markets closed in observance of Good Friday
AAPL has carved out a bearish H&S top. Earnings on Wednesday.
Friday's Trades - MBI low risk entry as price moves out of the retracement zone.
CTSH - I was looking for a short entry around $78.50, but didn't get a NRB, so I passed. After a minor extension, price formed a nice base at $78.50 and took it long back to the ambush zone. Should have shorted the ambush because there was no volume on the rally.
Thursday's Trades - JBHT - gap and flag.
CAT - Low risk long on break of flagging type pattern. Add on the B&B setup.
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