EARNINGS + FED WEEK = ???

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Monday morning when we woke up, The General Market Futures were higher and it seemed like smooth sailing.  Suddenly  a storm was moving in and things started giving it up . With an active week of Earnings and the 2 day Fed meeting , lets take a look at the charts and see what we can see.

IBB-  This was taken as of 2:30 P.M. Eastern time ( I added the end of day volume) .

IBB

We've seen this before right? A huge drop at the end of March and recovered at the 50sma.  Is that what we can expect? Let me show you what it tells me..

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EARNINGS!

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Between the Earnings Reports last week and the FED this week , the markets have begun looking  quite interesting in many ways. Lets take a look...

April 22 - I pointed out a consolidation that could break to new 'closing' highs in the NASDAQ.

NAZ 4-22

Would it Break or Fail during earnings ?

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What To Look At

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I dont always do a Friday report, but there were a few interesting things that happened in the market. Lets see what those were...

This was the SPX going into yesterday, you can see that anything higher would be a break out type move

  SPX 4- 23

Yesterday the markets did move higher, but  they pulled back into the close.

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