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April 26, 2012 at 20:44 PM EDT
Amazon (AMZN) Rivals AAPL Earnings With Its Own Blowout! SPX, Nasdaq, REGN, CRUS, EQIX, AMZN, EXPE, PCLN, SWKS, WDC, FIO, DECK
Strong earnings continued to keep the market afloat.  The market has been on a 2-day run after AAPL’s blowout earnings on Tuesday after the market.  Last night, CRUS reported a strong quarter, sending its shares up +18.62% today.  EQIX shares were also on fire, up +13.25%, after another outstanding quarter.  REGN jumped +9%, reporting first-ever [...]

Strong earnings continued to keep the market afloat.  The market has been on a 2-day run after AAPL’s blowout earnings on Tuesday after the market.  Last night, CRUS reported a strong quarter, sending its shares up +18.62% today.  EQIX shares were also on fire, up +13.25%, after another outstanding quarter.  REGN jumped +9%, reporting first-ever profittable quarter and lifting its guidance.

The market kept gliding up, with SPX ending just shy of 1400.

After the market, AMZN vaulted $27, or almost +14%, after reporting its own blowout quarter (helped by sales from its Kindle), rivaling that from AAPL.  EXPE popped a whopping +18.73%, topping estimates.  PCLN also jumped in after-hours.  SWKS gained +5% after a healthy report.  WDC also had a good quarter; its shares first popped after the report, but, was then traded lower, down 8.5%.  FIO also experienced similar movement; after beating the estimates, its shares first went up, then settled down 7.35%.  The trading in after-hours on WDC and FIO merely pulled these two stocks back into the neutral zone.  I suspect that buyers can still come in tomorrow.  DECK shares tumbled 18.66% after giving a dismal report.  DECK shares have broken support with more room to go lower.  People may be tempted to play a bounce on DECK, but, I’d wait a while.  DECK has support at $55, but, could test $50.  I’m taking DECK off of my watchlist for now.

The Dow was up +113.9 points; SPX added +9.29 points; Nasdaq gained +20.98 points:

SOXX (semiconductors) bounced +2.17%.  BTK (biotechs) added +1.16%.  XLF (financials) gained +0.85%.  IGV (software) was up +2.25%.

SPX

SPX added +9.29 points to close at 1399.98.  Its daily MAs and MACD turned up.

Nasdaq

Nasdaq gained +20.98 points to close at 3050.61.  It closed right at its 30-day MA.  Its MACD was higher.

This market has spent most of this April month in a very volatile environment.  Just this week, the market almost broke down on Monday and Tuesday.  But, it shot right back up after AAPL’s earnings.  Now, we’re looking at a breakout!  VIX has sunken back below 17.  This bodes well for a strong month of May.  The Dow has already turned bullish, which could mean now the mid- and small-caps can now follow.  This also explains many of the double-digit rises after earnings.

After the market, S&P downgraded Spain and created some selling pressure on the market futures.  This could give the market a nice "excuse" to take a breathe, after rallying 40 points on SPX.  Be patient tomorrow.  Facebook IPO is also coming in May.  This market should resume higher soon.

Good night and HappyTrading! ™

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