Paul Shread

Disappointing guidance from Intel didn’t weigh on stocks for long Friday, as both the market and Intel finished the day well off their lows. The stock market and Intel hit their lows an hour into the trading day and marched steadily higher to finish with modest gains on the day, spurred higher by a big […]

The Nasdaq (first chart below) hung onto some major support today, but the techs may challenge that 2234 level again tomorrow after Intel’s weak guidance tonight. Resistance is 2250, 2260 and 2278. The Dow (second chart) has support at 10,720, 10,700 and 10,650, and resistance is 10,800-10,820, 10,900 and 10,950-11,000. The S&P (third chart) has […]

Intel had some tough news for the chip sector late Thursday, lowering revenue guidance and cutting capital spending projections. Intel said it now expects fourth-quarter sales of $10.4-$10.6 billion, below Wall Street’s $10.61 billion estimate. The company also said that capital spending “is expected to be below the midpoint of the previous expectation of $5.9 […]

The Dow (first chart below) broke down today, but managed to recover by the close. 10,800 is first support, with 10,720-10,750 below that, and 10,950-11,000 remains the level to beat to the upside. The S&P (second chart) faces major resistance from 1273-1282, and support is 1250. The Nasdaq (third chart) has support at 2250, 2245 […]

Texas Instruments gave the tech sector some good news after the close on Wednesday, raising guidance to the high end of Wall Street estimates. With a little more than three weeks to go in the quarter, TI said it now expects revenues of $3.56-$3.7 billion and earnings per share of 41-43 cents. The company’s revised […]

A rally to new multi-year highs on the Nasdaq and S&P faded Tuesday after profit-taking began in the futures market and spread to stocks. Stocks were in early rally mode after a government report showed strong productivity gains and low wage pressures during the third quarter, easing inflation fears ahead of a Federal Reserve meeting […]

The Dow (first chart below) continues to stall at 10,950-11,000 resistance, a level it last cleared in June 2001. A big psychological level that the market has been unable to surmount so far. 10,910 is first resistance, and 10,800 and 10,720-10,750 are supports. The Nasdaq (second chart) faces resistance at 2269-2275, with 2288, 2300 and […]

Two chip giants will let investors know how their fourth quarters are progressing this week. Texas Instruments will deliver its mid-quarter update after the close on Wednesday. Analysts are looking for earnings of 41 cents a share from TI, up from 28 cents in the year-ago quarter. Sales are expected to rise 14.6% to $3.61 […]

Quantum has unveiled a free tape security offering that the company says is the first step in a broad tape security initiative planned over the next year. DLTSage Tape Security, unveiled Monday, prevents unauthorized access to data on tape cartridges, a feature Quantum says “will be particularly valuable in protecting tapes that must be transported […]

The Nasdaq (first chart below) continues to show strength here, defying a couple of blue chip downdrafts this week. 2269, 2264, 2260 and 2252 are support levels, and resistance is 2288, 2300 and 2328, levels not seen in nearly five years. The S&P (second chart) continues to push some very big resistance at 1270-1280, and […]

Tech stocks shook off inflation fears Friday to push to fresh four-year highs, spurred higher by strong chip sales and positive reports from a number of companies. Blue chips, meanwhile, slipped on rising oil prices, a strong jobs report that revealed wage pressures, and hawkish comments from Federal Reserve officials. The Nasdaq rose 6 to […]

Back to some big resistance levels for the blue chips, while the Nasdaq (first chart below) put in a big day after hanging onto support nicely the last few days. 2260-2264 is first support, and 2252 is below that. Resistance is 2269, 2288, 2300 and 2328. The S&P and Dow (second and third charts) are […]