Earnings driven momentum continues......

Earnings for the most part has been good, most stocks got rewarded while poor earnings were punished. Some good earnings were punished also, like AMD, FB & INTC.....while bad earnings from AMZN were penalized only 2.5%.....TWTR got slammed big time on missing users growth.

Coming week will see earnings from the following which i own or follow closely:

Tuesday         AAPL, SPWR

Wednesday   TSLA OCLR SWIR

Thursday      OLED

AAPL earnings will be about its guidance, without 8, it may be soft.....

SPWR may surprise on the upside due to higher guidance, whole solar sector is on fire due to legislative changes in US market, where solar panels are being made mandatory on new residential construction.

OCLR   may give good guidance, this may propel this stock from a very long base into new highs.

SWIR has beaten estimates and it may be no different this time, yes it may also go to new 52 wk high.

TSLA....may see major move in either direction, it is a battleground stock, suggest waiting for earnings, then taking a position.

OLED had a beat and higher guidance last Q, it may repeat this Q ...may go into new highs.

Major indices continue to make series of new all time highs, which is an indication of more to come in short term.

VIX has been in total slump, that slump may continue near term.

Here is RSI for major sector / indices....

Dow........ 68.55.....strongest in big 3 index

S&P 500..62.90...better than Nasdaq

Nasdaq...60.98...weakest in major index

Russell...52.05....small cap in trouble

SOX.......51.96....trouble in chip land

XLE.......59.19.....getting attention for sector rotation

TAN.......73.62....sun is shining brighter in solar world...best performing in all sector....

Bulls 60.2%...still room to run towards 70 area

Bears16.5%

As you can clearly see, that it has become a "stocks picker market".......

Good luck with your own homework and comfort level with this TAPE.

BLOG does NOT give buy or sell.

Saleem

Posted in: Mixed