Paul Shread

1552.87, the S&P’s (first chart below) all-time intraday high set seven years ago, continues to be a problem for the market and could well turn out to mark a high of some import. Advisors are becoming a little too bullish, commercial futures traders are doing a little too much shorting, and we’re also starting to […]

Imation hopes to capitalize on the growing market for online backup services — and its half-century of expertise in storage media — with a new offering launched today. Imation’s DataGuard Vault online backup and recovery service is aimed at small and mid-sized businesses (SMBs) and remote and branch offices (ROBOs) that are looking for a […]

Technically, the market looks like it put in a low last week, retested it with a higher low on Tuesday, and is now headed higher again. If the S&P (first chart below) can clear 1540, it may finally be headed for its all-time intraday high of 1552.87. We’d note that commercial futures traders continue to […]

Stocks rose for a third straight day Friday after a government report showed that high energy prices have yet to show up in core consumer prices. The consumer price index rose a greater than expected 0.7% last month, but once food and energy prices were factored out, the core inflation reading came in at a […]

Adobe rode new product releases to strong second-quarter results, posting sales and earnings late Thursday that topped Wall Street forecasts. Adobe’s sales rose 17% from the year-ago quarter to $745.6 million, well ahead of the $729.33 million Thomson Financial consensus estimate. Pro forma earnings of 37 cents a share were two cents better than anticipated. […]

Another nice showing by the bulls today, but the NYSE stopped just short of the 90% upside volume level that might have suggested an end to the correction. The market will likely be volatile the next couple of days as investors digest inflation data, and we’re also entering earnings warning season. While we expect market […]

Stocks soared Wednesday on a Federal Reserve report that portrayed an improving economy with tame inflation. The market was already trading higher on stronger than expected retail sales when the Fed’s Beige Book was released, showing that economic activity improved in May while wage pressures remained tame. The news sent stocks to their best one-day […]

The market appears to be well on its way to a retest of last week’s lows of 13,251 on the Dow, 1487 on the S&P and 2535 on the Nasdaq. 2543 is first support on the Nasdaq (first chart below), and a sharp downtrend line at 2573 is the main hurdle to the upside. On […]

Stocks plunged Tuesday after long-term interest rates hit their highest level in a year on inflation concerns. Rising inflation in China and lukewarm interest in the weekly U.S. Treasury auction were among the reasons given for the latest debacle in the bond market, where long-term interest rates have risen from 4.5% to 5.25% since March. […]

Continuity Software claims it can help disaster recovery work better — and the company won’t charge prospective customers a dime if it can’t help them. The Israel-based disaster recovery management (DRM) company announced its move into the U.S. market this week, opening its U.S headquarters in Boston and a sales office in New York. CEO […]

Far from being left behind by virtualization, United Devices sees grid computing companies as uniquely positioned to help data centers make the most of virtualization. Like fellow commercial grid computing pioneers DataSynapse and Platform Computing, UD has been moving away from its grid roots and into the data center virtualization market. But far from being […]

The lack of follow-through to Friday’s rally raises the possibility that the market may retest its recent lows, as buyers showed little conviction today. The Nasdaq (first chart below) faces tough resistance at 2582-2585, and support is 2566 and 2545-2555. 1516-1518 is tough resistance for the S&P (second chart), while 1500 and 1492 are support. […]