Paul Shread

Tech stocks paced solid gains for the stock market Tuesday, led by a 4% gain in shares of Google . Google rose after a judge suggested that the U.S. Justice Department may not get the search data it is seeking in a landmark Internet privacy battle. The government also scaled back its request as a […]

The Nasdaq (first chart below) ran into a bunch of resistance at 2280 today. If the index can get above that, 2290-2300 will be the next target. Critical support remains at 2240-2250. The S&P (second chart) stalled in the middle of a big consolidation at 1287-1288, with 1295 the next big level above that. Support […]

Shares of Apple gained 4% Monday after Citigroup took a shine to the stock, but AMD fell 7% on fears of a price war with rival Intel . Citigroup analyst Richard Gardner upgraded Apple to buy from hold, saying the stock has fallen far enough. Apple shares are down 24% from their all-time high set […]

A close call, but the Nasdaq and Nasdaq 100 (first two charts below) managed to hold on to critical support today. Now can they build on that important reversal? We’ll redraw that trendline on the Nasdaq to give the techs a little more room, with first support at 2250, and critical support at 2240. The […]

Nortel just can’t seem to quit its accounting troubles. The company revealed Friday that it will restate 2003-2005 results and some earlier results after an ongoing review turned up instances where revenue was recognized sooner than it should have been. The revisions won’t affect Nortel’s cash position, but the company’s delay in filing required reports […]

Better than expected results from National Semi were little help for tech stocks Thursday, as the market fell once again on interest rate concerns. National Semi’s February quarter earnings of 37 cents a share were a nickel ahead of estimates. Sales rose 22% to $547.7 million, also ahead of forecasts, and the company boosted current […]

The Nasdaq and Nasdaq 100 (first two charts below) held critical support levels today. The Nasdaq held support at today’s low of 2248.65, while the Nasdaq 100 made it with a few points to spare. Resistance on the Nasdaq is 2278 and 2300. The S&P (third chart) faces resistance at 1281-1283, and support is 1273-1276, […]

Disappointing guidance from Tech Data and the latest controversy at Google kept tech stocks from closing in the green on Wednesday. Shares of Tech Data fell 11% after the company posted fourth-quarter earnings and sales that beat Wall Street estimates, but then warned that first quarter results will come in below forecasts. The IT distribution […]

EMC has finally qualified McData’s flagship backbone director, more than a year after McData first launched the Intrepid 10000 (i10k). The long qualification process led some analysts to believe that EMC might once again be squeezing price concessions from its offspring. McData has been locked in a battle with Cisco for supremacy in the high-end […]

The Nasdaq (first chart below) continued its slide today. 2250 is critical support here, and 2277 and 2300 are resistance. The S&P (second chart) is clinging to 1275-1276 support. Below that, 1267 and 1262 come into play, and resistance is 1282 and 1290. The Dow (third chart) has support at 10,900-10,920, and resistance is 11,000, […]

Disappointing guidance from Texas Instruments weighed on tech stocks Tuesday, as investors sent both shares of TI and the chip sector 3% lower on the day. Follow a big warning on Friday from Intel , investors had little reason to hold chip stocks. Investors will get another look at the sector on Thursday, when National […]

The Nasdaq (first chart below) broke its three-week uptrend today. 2276 is now important support, with 2250 the next big support level below that. 2300 is now resistance again. The S&P (second chart) is also facing a big test of support at 1273-1276. Resistance is 1282 and 1288. The Dow (third chart) has support at […]