Paul Shread

So far, stocks are holding up well here. We have what is essentially a flat consolidation on the S&P’s (first chart below) main uptrend line. Unless stocks have other ideas — a not inconceivable possibility given the run-up we’ve had — the next move should be up. Internals were solid today, and we even had […]

Technology stocks posted solid gains on Friday, propping up sagging blue chips in the process. Cisco didn’t see much follow-through a day after gaining 6% on blow-out results, but several other technology bellwethers gained on optimism that they can duplicate Cisco’s feat next week. HP , NetApp and Applied Materials gained ahead of their results, […]

An interesting day today. We got a bit of giddiness on the part of options traders early today (see “View Intraday Data”), which turned out to be enough to spark a sell-off. So where do we go from here? Once again, keep your eyes on support, particularly the 12,015 level on the Dow (first chart […]

Stellar results and guidance from Cisco Systems were little help for the rest of the market Thursday, as sellers finally exerted some influence. Cisco shares surged 6% to a fresh multi-year high after the company trounced Wall Street earnings and sales estimates and raised forward guidance. CEO John Chambers cited “amazingly good” balance for the […]

The stronger than expected showing by Democrats didn’t dent the market for long today, a big show of strength by stock market bulls, but now we need to see follow-through buying. We’ll see how quickly sentiment turns bullish now that the market has nothing left to worry about, but the trend remains up until proven […]

Cisco Systems capped a historic day Wednesday with results and guidance that beat Wall Street expectations. Cisco’s sales rose 25% to $8.18 billion in the October quarter, ahead of $7.9 billion estimates, and orders grew even faster than sales. Earnings of 31 cents a share were two cents better than forecast and up 24% from […]

A bit of jitteriness ahead of tonight’s results, as the indexes backed away from multi-year highs. That’s not unexpected given what’s at stake, and we wouldn’t be surprised if the volatility continues into tomorrow. If you believe what you read, the markets like the idea of a divided government, so it will be interesting to […]

National Semi provided the latest sign of weakness in the wireless sector late Tuesday, warning that its November quarter sales will come in below estimates because of “lower-than-expected shipments to wireless handset customers.” It was the second time this quarter Nation Semi has warned. The company also said gross margins will be weaker than expected. […]

Another merger Monday sent stocks surging a day ahead of U.S. midterm elections, as investors also appeared to warm to the idea of a return to gridlock on Capitol Hill. Private equity continued to pour into public companies, with Four Seasons , OSI Restaurants and Swift Transportation the latest to receive offers to go private. […]

Today was an epic battle between the bulls and the bears, and we’re going to score it for the bulls: they were tested but held on. The Dow and S&P (first two charts below) held their main uptrend lines today, although the S&P did so barely. The S&P needs to head up on Monday, because […]

Continuing strength in the job market Friday had investors wondering whether the economy is slowing down or doing just fine, thank you. As a result, stocks ended the day lower — the Dow’s sixth straight loss — and bond prices tumbled as yields soared. October’s jobs growth of 92,000 was lower than expected, but upward […]

Tech stocks finished fractionally lower Thursday, which was something of a victory for bulls given that all the economic data went against them. Falling productivity, rising wage pressures and unemployment claims and weaker than expected retails sales all weighed on stocks in early trading, but they pared much of their losses by the close ahead […]