Paul Shread

The Nasdaq and S&P (first two charts below) stalled out at some big resistance levels today. The Nasdaq (first chart below) faces major resistance at 2200, and looking at the weekly chart, 2215-2220 could be just as tough. Support is 2180, 2170, 2164-2165, 2150-2159 and 2144. The S&P (second chart) faces a whole lot of […]

Stocks fell Friday on news that the economy grew more slowly than expected in the second quarter and inflation picked up. Second-quarter GDP clocked in at 3.4% in the second quarter — just below estimates — while inflation ticked up to 3.2% from 2.9% in the first quarter, a sign that the Federal Reserve will […]

McAfee and Symantec posted results after the close on Thursday that showed that demand for security remains strong. McAfee reported pro forma earnings of 31 cents a share, 6 cents ahead of estimates, and sales rose 32% to $245.4 million, also well above forecasts. Shares of McAfee climbed 2% after hours on top of a […]

Xyratex on Thursday announced plans to acquire nStor Technologies for about $21.2 million. The boards of directors of both companies have approved the merger. Xyratex said the acquisition will combine its expertise in high-volume, high-availability storage system enclosure design with nStor’s value-added RAID controller and storage software to produce highly scalable storage systems. Under the […]

A nice push by the bulls today, but the Nasdaq and S&P remain below some major resistance levels. Perhaps Friday’s GDP report can break the stalemate. The Nasdaq (first chart below) made a push over a short-term resistance level today, but still must clear major resistance at 2193-2200. Support is 2180, 2170, 2164-2165, 2150-2159 and […]

Strong earnings from Amazon.com and favorable economic news gave stock market bulls reason to celebrate on Wednesday. Shares of Amazon soared nearly 16% after the company silenced its critics at least temporarily by beating estimates and raising forecasts. Margins rebounded, and the company benefited from strong third-party sales. The broader market rallied on economic data […]

Holographic storage has been pursued since Polaroid scientist Pieter J. Van Heerden first thought of storing data in three dimensions in 1963, but InPhase Technologies says it is close to making the technology a commercial reality. The company, which has netted $61 million in funding since being spun out of Lucent Technologies’ storied Bell Labs […]

The Nasdaq (first chart below) is the best case of the bulls here — the index could be forming a “symmetrical triangle” over the last five trading sessions that could signal more upside. Resistance is 2180 and 2193-2200, and support is 2167-2168, 2164-2165, 2150-2159 and 2144. The S&P (second chart) is more worrisome, forming what […]

Amazon.com showed late Tuesday that it still has the stuff to wow Wall Street. Amazon reported second-quarter earnings and revenues after the close that topped analysts’ forecasts, and the company’s third-quarter quarter guidance was also better than expected. The company’s shares jumped 9% in after-hours trading. Amazon’s earnings of 12 cents a share beat estimates […]

The Nasdaq and S&P (first two charts below) continue to stall at some major resistance zones. The Nasdaq faces major resistance at 2193-2200, and support is 2164-2165, 2150-2159 and 2144. The S&P (second chart) faces major resistance at 1244-1255. The index is getting a little choppy-looking here, and closed the day on the lower support […]

Texas Instruments reported solid second-quarter results after the close on Monday, beating Wall Street estimates just about any way you slice them. TI reported a 9% sequential jump in revenues to $3.24 billion, and earnings of 32 cents a share came in ahead of 29-cent forecasts. Gross margins of 47% were also better than expected, […]

So much for yesterday’s change of trend; the dip buyers carried the day again today. Given some mildly disappointing earnings from the likes of Microsoft and GE, the stock market has held up well. Still, the indexes face major resistance just overhead, but at least sentiment doesn’t appear to be at bullish extremes. The Nasdaq […]