Back to top

View the PFP Archive

ZACKS
Fight Over 50 Day Moving Average

The market was around breakeven early Thursday after an inline Jobless Claims report and mixed earnings announcements. Unfortunately, at 10am ET we got soft readings from both the Philly Fed and Leading Indicators. Quickly the market broke through 1550 and plummeted to the next area of support at 1541 (50 day moving average).

We wrestled over the 50 day for most of the session ending the day right at the mark. So this is the new battleground to fight over.

At this stage we have enough information to grade earnings season. Given a combination of the lack of negative pre-announcements + early reports = Grade of B.

Generally that's good news for stocks. However, when the market is sitting at all-time highs, then B isn't going to cut it... especially not good enough in conjunction with a recent slate of softer than expected economic reports in the air.

This same atmosphere was all investors needed the past 3 April's to embark on a correction. Likely that is the case here again. Look for spots to buy back in around 1500.

Featured Commentaries:

•  3 Stocks Set to Top Earnings Estimates

•  This Week's Growth & Income Stocks

•  Top 5 Zacks #1 Ranked Global Mutual Funds

•  3 Sector ETFs Surviving This Slump

Best,

Steve Reitmeister

Executive VP - Zacks.com

Zacks Investment Research

Follow Us:  

Sponsor

The Death of the PC

The days of paying for costly software upgrades are numbered. The PC will soon be obsolete. And BusinessWeek reports 70% of Americans are already using the technology that will replace it. Merrill Lynch calls it "a $160 billion tsunami." Computing giants including IBM, Yahoo!, and Amazon are racing to be the first to cash in on this PC-killing revolution.

Yet, a small group of little-known companies have a huge head start. Get the full details on these companies, and the technology that is destroying the PC, in a free video from The Motley Fool.

Watch the FREE Video Now!

Bull & Bear of the Day

Zacks Rank #1 Strong Buy

OMA (OMAB)

Looking for a way to get in on Mexico's growth? Get exposure through this airport operator.

 

Zacks Rank #5 Strong Sell

Titan Machinery (TITN)

This equipment retailer just missed earnings by 20%. It has fallen to a Zacks Rank #5 (Strong Sell).


Stock Picking Strategies

Profit Margins Will Determine Your Portfolio's Bottom Line  ››

New Highs Justified by Market Internals  ››

Anatomy of Success: Short-Term (LXU)  ››


Funds Commentary

Top 5 Zacks #1 Ranked American Century Mutual Funds  ››

Japanese Yen ETF Investing 101  ››

More Trouble for Oil Services ETFs?  ››


Options Strategies

Profiting With Straddles This Earnings Season  ››


Video Reports

Do Charts Say Big Correction Coming?

Assessing the damage and finding a silver lining.

May Market Outlook

What Are the Fresh Insights Into the Spring Market?

Market Eyes Up Earnings Season

Zacks experts weigh in on possible effect Q1 earnings season may have on the market.

Sponsor


Earnings Whisper Access Closes Tomorrow


Some 900 companies will report earnings in the next few days. Meanwhile, a Zacks whisper breakthrough is targeting a handful of positive surprises before reports are released. These predictions are made with previously unthinkable accuracy.

Imagine buying a stock a couple days ahead of its report and then selling after its price "pops." Important: This strategy is in high demand and closes to new investors Saturday, April 20.

Get details now >>


Manage Your Newsletter Subscriptions

Update Preferences         Update Your Profile         Unsubscribe         Feedback         Send to a Friend
 

This free resource is being sent by Zacks.com to our subscribers. We look for investment resources and inform you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer

Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable.

All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, brokerage, market making or asset management activities of any securities. Visit www.zacks.com/performance for information about the performance numbers displayed in this press release.

Zacks Emails

If you would prefer to not receive future profit-producing emails from Zacks.com the primary purpose of which is the commercial advertisement or promotion of a commercial product or service, then please click here and confirm your request. If you have trouble with the unsubscribe link, please email support@zacks.com.

Zacks Investment Research, Inc.
111 N. Canal St., Suite 1101
Chicago, Illinois 60606