Why We May See Increased Volatility This Afternoon…
A weak consumer confidence number, plus a missile test by North Korea sent
the market down this morning. After the close, Hewlett Packard reports;
First Call is looking for 27 cents a share.
Hovnanian Enterprises
(
HOV |
Quote |
Chart |
News |
PowerRating) announced a 1Q profit that doubled, and guided
higher for 2003. The stock has been trading in a consolidation on the 60-minute
chart, and a breakout above would be bullish.
The Nasdaq is trading in a triangle, getting thinner each bar. This
decreasing implies increasing volatility later today.
…and the TRIN may have made its highs…
The war fears are obviously the main concern and the overriding theme in the
market. This tends to keep a lid on any possible rallies, but we’ll see.
Have a good afternoon,
Brice Wightman