Paul Shread

With the outcome of tomorrow’s Fed meeting in doubt, stocks went into a holding pattern today. The Nasdaq (first chart below) is slipping below its recent uptrend line here, a sign of potential weakness heading into tomorrow’s Fed meeting and Cisco’s earnings report. Support is 2065 and 2050, and resistance is 2080, 2095 and 2113. […]

The recent weak internals proved prophetic today when the market started out strong and then reversed. So what next? The market may still rally on next Tuesday’s Fed meeting outcome, but sellers have an opening here. On the plus side, the Nasdaq (first chart below) has reformed its uptrend line, but the index also looks […]

Traders initially cheered a weaker than expected jobs report Friday, then spent the rest of the day selling stocks on fears that the report contained just a little too much inflation pressure to keep the Federal Reserve from ending its rate-hike campaign next week. The Labor Department reported that the economy added 113,000 new jobs […]

Kazeon has turned its early success in the information classification management (ICM) space into big bucks. Kazeon on Monday will announce a $21 million second round of funding, bringing its total haul to date to $44 million. Menlo Ventures, Focus Ventures and all previous investors participated in the oversubscribed round. With a couple dozen customers, […]

With internals continuing to erode and upside volume barely clearing 50% today, does the Nasdaq (first chart below) have what it takes to clear some major overhead resistance on tomorrow’s jobs report? 2100-2107 looks like tough resistance, with 2117 above that. Support is 2065-2070 and 2050. The S&P (second chart) faces tough resistance at 1285-1287 […]

With next week’s Federal Reserve decision on interest rates a coin toss, investors will be watching Friday’s monthly jobs report for a clue as to whether the Fed will finally end its two-year rate-hike campaign. Economists believe the economy added 145,000 jobs last month, wages crept up 0.3%, and the unemployment rate held steady at […]

The rally once again turned selective today, as neither exchange could muster 70% upside volume. That’s pretty weak internal support, but perhaps Friday’s jobs report can change that. The Nasdaq (first chart below) faces resistance at 2085-2090, 2100, 2110 and 2119, and support is 2065 and 2050. The S&P (second chart) neared our 1287 target […]

Upbeat earnings news from Adobe , Time Warner and Procter & Gamble gave stocks a welcome boost on Wednesday. Beaten-down Adobe saw its shares surge 14% just for saying the company won’t disappoint when it reports third-quarter results next month. Analysts are looking for 22% sales growth from Adobe. Investors also applauded Time Warner’s plan […]

Adobe shares jumped 5% in late trading Tuesday after the company said its results are tracking in line with expectations. Adobe said its sees third-quarter sales of $580-$610 million and earnings of 25-27 cents a share, both in line with estimates. After warnings in May and June, investors were pleased just to hear that the […]

EqualLogic has overhauled its iSCSI SAN platform to add a number of new features aimed at high-end users. Version 3.0 of EqualLogic’s PS Series storage array firmware allows multiple pools of storage in a single SAN for flexible data segmentation. The refresh also coincides with the release of EqualLogic’s new high-capacity PS400E, which uses 750 […]

A solid show of support for the bulls today, resisting profit-taking efforts, and they’ll get even more support tomorrow from first-of-the-month inflows. That said, the Nasdaq (first chart below) is starting to look like a bearish rising wedge here. 2115 looks like tough resistance for the techs, and 2085 an important first support. The Dow […]

The indexes are all testing some significant levels here. We’ll start with the Dow (first chart below), which faces important resistance at 11,260-11,290 and 11,330; if the blue chips can clear those levels, it may be headed back to the highs, as improbable as that seems for the next couple of months, with weak seasonality […]