Street Awaits Q1 Earnings – Bulls have Edge

Investor’s first readDaily edge before the open

DJIA: 18,036
S&P 500: 2,095
Nasdaq  Comp.:4,977
Russell 2000:    1.265
Wednesday, April 15, 2015   9:09 a.m.

CONCLUSION:

   A strong open today would set the stage for an assault on the March highs

(DJIA 18,205; S&P 500: 2,114; Nasdaq Comp.: 5,042; Russell 2000: 1,268).

   Today’s support is DJIA: 18,016  (S&P 500: 2,094; Nasdaq Comp.:4,972). The market rebounded from selling at the open yesterday indicating buyers, are lurking in the wings. 

   Bear in mind the DJIA, S&P 500, the Nasdaq Comp.  are locked in a three month trading range  (DJIA 17,600 – 18,200; S&P 500: 2,040 – 2,115; Nasdaq Comp.: 4,845 – 5,040).

KEY FACTORS: 

-Q1 earnings for some companies will suffer from U.S. dollar’s strength and plunge in oil prices.
-Market still keyed on the Fed and it’s first bump up in interest rates, which with a slight softening in recent economic reports looks like it may happen later rather than sooner.

Concern that the U.S. economy is beginning to slump.

COMMENTS:

The major market averages (DJIA, S&P 500, Nasdaq Comp.) have been in a sideways trading range since early February. The small company Russell 2000 has been in an uptrend during this period, indicating a preference for greater risk.

Note: Source of economic data

For a weekly economic calendar and good recap of  indicators, go to mam.econoday.com.

George Brooks
Investor’s first read
A Game-On Analysis, LLC publication

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Investor’s first read, is a Game-On Analysis, LLC publication for which George Brooks is sole owner, manager and writer.  Neither Game-On Analysis, LLC, nor George  Brooks  is  registered as an investment advisor.  Ideas expressed herein are the opinions of the writer, are for informational purposes, and are not to serve as the sole basis for any investment decision. References to specific securities should not be construed  as particularized or as investment advice as recommendations that you or any investors purchase or sell these securities on their own account. Readers are expected to assume full responsibility for conducting their own research pursuant to investment decisions in keeping with their tolerance for risk.

 

 

 

 

 

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