Indices closed UP.23% to .33%....NICE !!!!!

Indices closed UP.

S&P 500 @ 2476.35, high 2478.51, low 2471.14

RSI @ 64.39

CMF @ 0.274

Internals were :

UP volume led by 1.22 to 1 in NYSE & 1.28 to 1 in Nasdaq

Advancing stocks led by 1.53 to 1 in NYSE & 1.17 to 1 in Nasdaq

Net new 52 wk highs were leading by 137 in NYSE & 57 in Nasdaq

VIX Down 1.66% @ 10.09

Oil @ $49.16

Gold @ $1279.40

Stocks which were UP 1% or more MOMO OCLR SPWR VRX
IAG FNSR NVDA BAC V SBUX ABX COH LEN SINA
MRVL TK YELP MA DATA SHOP CRUS ULTA NKE
KBH CMG AAL.....

AH ER....SPWR Down 9.66%, AAPL UP 6.30%
                FEYE UP 6.40%

SPWR earnings report was a beat by 9 cents on EPS and Sales were higher by $25 million, Q3 guidance were weak as Sales were booked heavily for Q4, means back end loaded.

For 2017 SPWR reduced guidance on the higher end as follows :
Previous guidance Sales $2.1 billion to $2.6 billion
Current guidance Sales $2.1 billion to $2.3 billion
For deployment previous 1.3 gw to 1.6 gw
Current forecast 1.3 gw to 1.45 gw

Looks like Q3 is a trough for their business, then uptrend should resume in Q4, SPWR is a strong HOLD.....

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE was strong and technology participated, indices closed near high of the day. Internals were positive. Earnings are mostly better than expected, AAPL was a beat all over which should be good for TAPE on Wednesday. Some earnings reaction are over reaction and should be analyzed for future business.

BLOG does NOT give buy or sell.

Saleem

Posted in: Mixed