Paul Shread

The Dow and S&P (first two charts below) broke their uptrends today, following the Nasdaq’s (third chart) breakdown yesterday. Again, the indexes could be starting a “C” wave down here to complete the correction begun in May, just in time for the four-year cycle low next month. The Dow closed right at 11,330 support, with […]

Stocks fell for a second day Thursday on fears of slowing growth and rising inflation. Hawkish comments from San Francisco Fed president Janet Yellen provided the inflation fears, and warnings from several homebuilders added the slowdown worries. The news came on top of reports Wednesday that showed slowing growth and productivity and rising labor costs, […]

The Nasdaq (first chart below) gave up its August uptrend line today. 2150 looks like the next solid support, and 2195 is resistance. The Dow and S&P (second and third charts) find themselves right on critical support after giving up the breakouts of the last two days. One problem with rising resistance (and falling support) […]

Reports showing slowing growth and productivity and rising labor costs slammed stocks on Wednesday, raising fears of more Federal Reserve rate hikes. Chip stocks led the way lower, with Intel losing 3.4% after announcing job cuts that were half of what traders were hoping for. Other chip decliners included Altera , Fairchild and Catalyst , […]

Storage companies continue to line up for initial public offerings, profitability notwithstanding. Isilon Systems on Sept. 1 became the fourth storage company this year to file for an IPO. Of the four — Isilon, Double-Take, CommVault and Riverbed — only CommVault is clearly profitable. That said, there’s a difference between filing for an IPO and […]

Solid breakouts on the indexes the last couple of days, but can they hold up in what has historically been the weakest month of the year for stocks? In general, price action remains resilient (although internals weakened somewhat the last two days), sentiment remains positive for stocks, and even commercial futures traders are starting to […]

Investors returned from the Labor Day weekend in a buying mood, and chip stocks led the way higher on an AMD upgrade. Thomas Weisel analyst Eric Gromberg upped AMD to outperform and raised sales and earnings estimates on growing acceptance of the company’s chips. AMD shares rallied 6% on the news. The AMD news helped […]

Cisco Systems on Tuesday unveiled an integrated branch office solution that combines WAN optimization, application acceleration and wide area file services (WAFS) in a single offering. The release adds Cisco to the growing list of vendors like Riverbed that are combining WAFS with WAN optimization and acceleration, a market dubbed wide area data services (WADS). […]

Traders sent stocks higher in midday trade Friday on a government report that showed solid jobs growth and tame inflation. The Labor Department reported that the economy added 128,000 jobs in August, slightly better than expected. The unemployment rate ticked lower to 4.7%, and wage growth was a very subdued 0.1%, below 0.3% expectations. The […]

Investors appear to be focused on tomorrow’s jobs report, since little else has moved the market this week. So while we’re waiting, we’ll cite the same data we do every year at this time: according to Robert Colby’s Encyclopedia of Technical Market Indicators — a book worth getting if you’re interested in the performance of […]

Coming on the heels of warnings from JDS Uniphase and ADC Telecom , Ciena could do little to allay fears of a telecom slowdown Thursday, falling 8% despite better than expected results and guidance. Ciena predicted fiscal fourth-quarter sequential sales growth of as much as 5%, or $160 million, which would beat $156.5 million estimates. […]

JDS Uniphase and ADC Telecom lost ground on disappointing sales forecasts Wednesday. ADC lost 7% after reporting better than expected quarterly results but issuing a sales forecast that was below estimates, likely due to delayed orders at big customers like BellSouth , which is merging with AT&T . After the close, JDSU shares tumbled 16% […]