Paul Shread

Cisco Systems will try to snap tech stocks out of their doldrums when the networking giant releases quarterly results late Tuesday. The Dow has staged a powerful rally in the last month to move within 140 points of its all-time high, but the Nasdaq has been range-bound for the last two months, and the big-cap […]

Despite rising interest rates and commodity and energy prices, and commercial futures traders shorting during the weakest part of the four-year presidential cycle, the Dow (first chart below) is within reach of its all-time high. That’s impressive strength indeed. 11,722-11,750 is the index’s all-time closing and intraday highs, and 11,426 should now be support. It’s […]

The Dow moved within striking distance of its January 2000 all-time high Friday on an employment report that raised hopes that the Federal Reserve will soon end its two-year rate hike campaign. The Labor Department reported that the nation added 138,000 jobs in April, well below economists’ expectations of 200,000 new jobs. Wage growth came […]

Sepaton is adding de-duplication technology to its virtual tape (VTL) appliances that the company says can reduce storage capacity needs by a factor of 25. Sepaton’s DeltaStor software uses the company’s ContentAware architecture to greatly increase the amount of data that can be stored on a Sepaton S2100-ES2 VTL appliance by eliminating unchanged or duplicate […]

With the Dow (first chart below) clearing the major resistance level of 10,426, can the NYSE advance-decline line (second chart) follow? We still need a couple thousand net advances for that to happen. 11,400-11,426 and 11,350 are support on the Dow, and resistance is 11,463 and 11,500. The Nasdaq (third chart) faces tough resistance from […]

Stocks rose Thursday on the strongest retail sales gains in two years, but the report and others also served as a reminder that inflation pressures remain a threat. Tech stocks gained the most on the day, rising nearly 1% and reversing a month of underperformance. Falling oil prices also contributed to the gains. Retail sales […]

We’re going to take another look today at what the recent selective buying means for the stock market. The NYSE advance-decline line (first chart below) is failing to make a new high with the blue chip averages for the first time since the market bottomed last October. That kind of weakness among the broader market […]

Disappointing earnings news from Adobe , EDS , Time Warner and Procter and Gamble weighed on the stock market Wednesday. Adobe shares sank 8.6% on the software maker’s second warning this quarter, while weak sales at AOL and the movie unit sent Time Warner shares modestly lower. EDS shares shed 6% after the company missed […]

Quantum announced late Tuesday that it will acquire Advanced Digital Information Corp. (ADIC) for about $770 million, a nearly 50% premium for its tape storage rival. Quantum, which added LTO tape technology to its core DLT format with the 2004 acquisition of Certance, will move further into the LTO space with the acquisition of ADIC, […]

The Nasdaq (first chart below) continues to lag badly, while blue chips push to multi-year highs. So which one will lead? Time will tell, but the selective buying remains a negative here. 2300 is shaping up to be important support for the techs, with 2290, 2275-2282, 2250 and 2243 below that. Resistance is 2328-2333 and […]

Shares of Adobe shed 6% in after-hours trading Tuesday after the company said its second-quarter results will come in shy of Wall Street estimates. With about five weeks left in the quarter, Adobe said it expects its results to come in toward the low end of its previous guidance range of $640-$670 revenues, 30-32 cent […]

Is rotation and selective buying catching up with the stock market? The Nasdaq (first chart below) is back on 2300 support. Below that, 2290, 2275-2282, 2250 and 2243 are important levels. Resistance is 2325-2333, 2350 and 2375. The Dow (second chart) stalled at 11,426 resistance again. Support is 11,330, 11,300 and 11,260-11,280. The S&P (third […]