Major Earnings Out This Week

Friday left the Nasdaq market green, but the week red. Dow closed Friday Red and the week red by a hair. S&P 500 just to add to mix closed Friday green and the week red. Overall the week stayed in range so not a lot changed in the market, despite it being a short week and options expiration we held a very narrow range. Volume was slightly higher on the week for the NYSE but lower on the day for Friday, the Nasdaq was lower on the day and week. It was only a 4 day week so we are sitting in range and not seeing a lot change in the market.
Nas 100 and Nasdaq composite holding just over the 50dma, which will continue to be key.

Crude saw some upside after being beaten down all week. Closing up $1.51 on the day at $51.99. Still down on the week almost 2%, but holding a range like much of the equities market. Gold closed up 8.30 to close at $636.40 on Friday.

Full week of earnings ahead with a lighter week of economic news. Monday we can look for some early downside and to find support for the buyers. Friday’s action was very digestive and gave the market a little boost after a down week. Tech was the focus last week and tumbled all week to see a small bounce on Friday. The Hardware and software sectors are still holding support, just the semi’s broke. So I’m still watching for broader participation in tech and not so isolated to the semi’s.
Advanced Micro Devices [
AMD|AMD] and Texas Instruments
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report this week so the semi’s will have their hands full again to hold up or see much lower ground. A few internets are reporting this week so the focus may shift off semi’s and to them for awhile. Also several Dow components this week to help spread the focus around.

Economic data for the week of January 22 —27: Monday 10:00 Leading Indicators, 3:20 Fed Reserve Pres Janet Yellen is speaking, Tuesday10:00 State Street Investor confidence Index, Wednesday10:30 Crude Inventories, Thursday 08:30 Jobless Claims, 10:00 Existing Home Sales, 10:00 Help Wanted Index, 10:30 Natural Gas Inventories, Friday 08:30 Durable Orders, 10:00 New Home Sales.

Some earnings for the week of January 22 — 27: Monday pre market AOS, ALDN, ETN, PETS, PFE, during the day AXP and after the bell CSX, PKG, TXN. Tuesday pre market — ADTN, BAC, BLK, EAT, COH, DHI, JNJ, PTIE, PNC, STTX, TLAB, UAUA, UTX, XRX and after the bell AMD, CTX, HYSL, IDTI, PTV, PHHM, QLGC, RDN, RFMD, STX, STLD, STM, SUNW, YHOO. Wednesday pre market FLWS, ABT, AMG, ALB, ABC, AME, AVX, CHKP, CPS, CNH, COP, GLW, DSPG, GD, HSY, MCD, SAP, UIS, WLP and after the bell ARBA, ASIA, CBT, EBAY, FFIV, FDC, ISIL, LSI, MTH, NFLX, NVLS, PTEC, QCOM, RMBS, RYL, SSTI, SWFT, SYMC, TALX, TER, TXT, VARI, VAR, WSTL. Thursday pre market AGR, ALK, ACV, ABI, T, BAX, BZH, BJS, CCMP, CAH, CRA, CY, DOW, DJ, F, FTD, IMCL, LM, LMT, LYO, MESA, MEH, NOK, BTU, PII, DGX, STJ, SPWR, TSM, UNP, ZOLL and after the bell AMGN, BEBE, CA, CSH, CPWR, ELX, FRNT, LSCC, LAVA, MSCC, MSFT, PMCS, SANM, SYK, SYNA, VSEA, WDC, ZL. Friday pre market CAT, CDWC, CCUR, FO, HAL, HON, IDXX, TROW and after the bell CHRT, EEP, NTY.

ES (S&P 500 e-mini) Monday’s pivot is 1436, the weekly is 1437.50. As long as the ES holds over 1431 the support is doing its job. Intra day support: 1432.75, 1431, 1427.75, 1424 and 1421.25. Resistance to look for: 1437, 1438.50, 1440.50 and 1443. 60 minute chart is below.

Teresa Appleton has traded equities and options for
nine years and futures for seven. She is founder and CEO of TradeLogic, LLC. For
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