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After the closing bell Thursday we had a number of companies release their earnings reports. Some of the Big companies like GOOGLE, AMAZON, MICROSOFT, FIRST SOLAR, etc were among the group and received positive reactions, with their stocks shooting up in after hours. Will this usher in the next leg up in the markets ( or maybe we should just say a 'continuation' higher) ? Let's take a closer look...
DJIA - I was expecting a bit more of a correction, but this flag consolidation may simply be a pause in the run higher.
SPX - I would have expected a drop to the 50sma, but if these markets are in a parabolic run, this may be all we get as it also just continues higher. Let's see what Friday brings.
NASDAQ - I expected a drop to the 50sma area, but all those positive earnings last night in GOOG, AMZN, Etc. could get the NASDAQ going again too. Look for a break above the 10sma or this red dotted trend line.
Read MoreAre the markets starting to roll over? If so, will it be a deep dip, a 'Buy the dip", or is this just another 'one day sell off and recovery'? Let's take a look at the charts and see what we can take note of...
NASDAQ - So here we see that the NASDAQ sold off yesterday, but by the end of the day, some buying came in and gave us a reversal candle. Does this mean that onward and upward we go?
Read MoreLet's do a NATGAS & MINERS review and discuss a few trade ideas, since we didn't have a chance to do that on Tuesday...
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