Paul Shread

The indexes couldn’t get going today, but internals improved markedly, suggesting the possibility of some accumulation here. The Nasdaq (first chart below) has major support at 1887, and below that, 1880, 1865 and 1842 are also big. Resistance is 1913-1922, 1928-1930, 1940, and 1950-1955. The Dow (second chart) has major support at 10,000, 9900 and […]

At least PalmOne and Red Hat investors have something to smile about. Shares of PalmOne soared 30% Tuesday after the company blew past analysts’ estimates with a 1-cent profit – 32 cents better than expected. And shares of Red Hat surged 10% after the close Tuesday on in-line results, on top of a 6% gain […]

We got some wholesale selling today, including a rare 90% downside volume day on the NYSE. But that can be a good sign, because that is how selling gets exhausted, leaving room for the market to move higher. We got a big spike in the VIX, the options volatility index, showing decent fear, a very […]

Microsoft may face a European Union fine that is much less than feared, according to news reports. Wire services quoted unnamed sources as saying that Microsoft could face a fine of about $600 million, much less than the $3 billion maximum the company could get hit with in a ruling due out on Wednesday. Microsoft […]

The indexes continue to look very much like consolidations in a downtrend, with another leg down to come. The Dow (first chart below) looks like a bear flag, and a move down Monday would break it. Resistance is 10,250 and 10,330-10,375, and support is 10,128, 10,092 and 9900-10,000. The S&P (second chart) was turned back […]

Adobe soared 10% Friday after blowing past analysts’ estimates, bucking another day of sharp selling in the stock market. Adobe’s earnings of 50 cents a share trounced 40-cent estimates, and revenues of $423.3 million came in well ahead of $392.7 million estimates. Adobe also raised second-quarter and full-year guidance. The company attributed its strong performance […]

The Enterprise Storage Group Lab has kicked the tires on the Hitachi Data Systems Lightning 9980V storage system and found it worthy. In a report entitled “Hitachi Lightning 9980V: Enterprise Storage Consolidation Analysis,” ESG Lab said it is “extremely impressed with Hitachi’s Host Storage Domains, Virtual Storage Ports, and Priority Access software, which contribute to […]

The Dow and S&P (first two charts below) continue to try to break out of week-long consolidations here. Above 1126, and the S&P could be headed for the major resistance area of 1138-1143. Support is 1120, 1110-1113 and 1102-1105. The Dow (third chart) has resistance at 10,330-10,375 and 10,425, and support is 10,250, 10,214, 10,185, […]

Microsoft slipped to a multi-month low Thursday on reports that antitrust settlement talks with the EU had broken down. The result could be a substantial fine and orders to open up the Windows operating system when the European Commission meets next Wednesday. Microsoft will likely appeal the decision, resulting in more uncertainty for the software […]

The indexes are making a valiant effort to break out of consolidations at the lows. Above 1126, and the S&P (first chart below) could be headed for the major resistance area of 1138-1140. Support is 1120, 1114, 1110 and 1102-1105. The Nasdaq (second chart) has strong resistance at 1985-1991, and support is 1966, 1956 and […]

Yahoo gained 5% Wednesday on upbeat comments from analysts. Salomon Smith Barney upped Yahoo to Buy from Hold and raised its price target from $50 to $60, anticipating 35-50% growth in Yahoo’s core business until 2006. First Albany also rated Yahoo shares a Buy based on positive trends in online advertising and strong subscriber growth […]

Heavy selling pressure and extreme bearishness and stocks still can’t bounce. So far, we have consolidations at the lows on all indexes, which suggests that we may have another leg down before the market can generate a significant bounce. The Nasdaq (first chart below) has very strong support at the 1913-1920 and 1880-1887 levels, and […]