Paul Shread

The Nasdaq (first chart below) continues to struggle at an old trendline that broke in March. Resistance levels are 2063-2065, 2068, 2078 and 2090-2100, and support levels are 2050, 2040 and 2035 and 2015. The S&P (second chart) is clinging to a short-term uptrend line; the next support levels are 1184-1185 and 1180, and resistance […]

It wasn’t much, but the Nasdaq’s 5-point gain on Tuesday was enough to secure the index’s longest winning streak since December 1999. The Nasdaq has risen eight straight days 30 times since 1971, but Tuesday marked the first time that the index has accomplished the feat since Dec. 15-27, 1999. If the index closes in […]

BlueArc has unveiled new management software for its high-end unified storage system that offers a range of features from virtualization and information lifecycle management (ILM) to remote mirroring and compliance. The new features include virtualization, data migration, iSCSI and WORM (write once, read many) support, and remote volume mirroring. At $100,000 for a basic Titan […]

As they say, no one has a longer memory than a trader sitting on a losing position, and today was proof positive of that old axiom. The Nasdaq (first chart below) was turned back today at a trendline that marked a big breakdown in March, giving traders who placed wrong bets at that level a […]

A Goldman Sachs upgrade of the software sector and speculation that Google could be added to the S&P 500 sent the Nasdaq to its seventh straight gain on Monday. Goldman upped the software sector to “attractive” from “neutral,” saying the adoption of Web services standards will benefit companies like Microsoft , Oracle , SAP and […]

Network Appliance released new midrange products on Monday designed to get a leg up on competitors like EMC. The products include two new midrange storage systems — the FAS3020 and FAS3050 — plus a new serial ATA (SATA) option for primary storage applications and two new V-Series virtualization engines, the V3020 and V3050. The new […]

Buying demand still appears to be pretty strong, as stocks didn’t pull back much at all today before buyers came in. The Nasdaq (first chart below) is a long way from a test of major support in the 1990-2000 range. First support levels are 2033, 2020 and 2008-2012, and resistance is 2050 and 2060. The […]

The Nasdaq eked out a gain for the sixth straight day on Friday on news of a slight improvement in chip equipment orders in April. SEMI reported an increase in chip equipment orders last month to a three-month average of $1 billion, down 37% from a year ago but up slightly from March’s $988 million […]

The indexes continue to build on their gains, and even accelerate, as they move further above their short-term uptrend lines. The Nasdaq (first chart below) faces resistance at 2050 and 2060 (a big level there), and support is 2034, 2020, 2008-2012 and 1998-2000. The S&P (second chart) faces resistance at 1192-1194 and 1200-1201, and support […]

The Nasdaq rose for the fifth straight day on Thursday, extending the market’s best rally in six months and dragging sluggish blue chips along for the ride. Despite reports showing economic growth slowing, tech stocks spent the whole day in the green, led higher by strong earnings from Salesforce.com and BEA Systems and a DVD […]

HP unveiled a program today aimed at helping small and mid-sized businesses (SMBs) safeguard their data from security and disaster threats. The HP Business Protection portfolio offers business continuity for SMBs through security, data protection and availability features. To stress the importance of continuity and disaster preparedness, HP cited a recent University of Texas study […]

Not much to complain about today, as the indexes built on yesterday’s breakouts. The rally is certainly looking for real at this point. The Nasdaq (first chart below) faces resistance at 2035, 2040, 2050 and 2060. Support is 2020, 2008-2012 and 1995-2000. The S&P (second chart) faces resistance at 1192-1194 and 1200-1201, and support is […]