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Charts courtesy of stockcharts.com

Wednesday, July 20, 2011

Wednesday Morning Update


The volume is still screwed up on Scottrade's charts, so I didn' t bother with it today. Yesterday's rally was a surprise only in the size of it, but the chart is still doing a pretty good job of following pivot points, the next one being about 1331. The market gapped up, as expected after AAPL's quarterly sandbag job, but has reversed the gap, also not a surprise. The leading sector is XLF, lagging are XLY and XLV. The Nasdaq and Russell 2000 are both lagging this morning. I have oil up a bit, gold down a bit, treasury yields up.

I have 102 new highs so far this morning, with breakouts in AMZN, MCD, VMW, TJX, ISRG, and PRGO.
Here are the earnings reports I have from last night: AAPL up 3%, CMG down 2.8%, DIT down 6.4%, FTNT down 20.6%, ISRG up 7.7%, RVBD down 22.4%, TESS up 25%, and VMW up 2.3%.  The stocks I had scheduled to report this morning are actually reporting after the close.

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