StockTwits
07-19-2010, 01:40 PM
Macro Headwinds Trump Profits « BondSquawk (http://abnormalreturns.com/links/172635/visit) (www.bondsquawk.com)
by BondSquawk 10 minutes ago
Last week we discussed that the “tidal waves of recent economic data suggesting weaker growth will ultimately engulf any attempt of a sustained bull run in the stock market” fueled by strong earnings. After announcements by Alcoa and Intel followed by three straight days of finishing at 1095-1096 level, which is around the falling 50-day moving average and a significant technical resistance point, the S&P tumbled 2.9 percent after a weak Consumer Confidence report on Friday. What is interesting is the fact that earnings season so far has been better than average according to the Wall Street Journal article “No legs for earnings rally.”
see story at Abnormal Returns site...(RSS feed) (http://abnormalreturns.com/links/index?date=07/19/2010#172635)
by BondSquawk 10 minutes ago
Last week we discussed that the “tidal waves of recent economic data suggesting weaker growth will ultimately engulf any attempt of a sustained bull run in the stock market” fueled by strong earnings. After announcements by Alcoa and Intel followed by three straight days of finishing at 1095-1096 level, which is around the falling 50-day moving average and a significant technical resistance point, the S&P tumbled 2.9 percent after a weak Consumer Confidence report on Friday. What is interesting is the fact that earnings season so far has been better than average according to the Wall Street Journal article “No legs for earnings rally.”
see story at Abnormal Returns site...(RSS feed) (http://abnormalreturns.com/links/index?date=07/19/2010#172635)