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StockMarket101 (96.26)

Stock Market 101 April 11, 2008 10:06 PST

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April 12, 2008 – Comments (2) | RELATED TICKERS: WAMUQ , JNJ , EBAY

Dow, Nasdaq, and S&P indices close below their 10 and 50 day moving averages 

April 11, 2008

10:00 p.m. PST

short term indicator: mixed

medium term indicator: negative

long term indicator:  negative

All of the major stock exchanges lost support of their 10 day and 50 day moving averages.  The VIX and VXN moved above their 200 day moving average.  General Electric, GE, kicks off earnings season with a "air ball" but it is only the first Dow component and next week others will get a chance to provide a thrill like earnings releases on Tuesday, Washington Mutual, WM,  and Johnson and Johnson, JNJ, and Wednesday, EBAY, JPMorgan and Wells Fargo. 

2 Comments – Post Your Own

#1) On April 12, 2008 at 1:19 AM, StockMarket101 (96.26) wrote:

On Wednesday, IBM will also post earnings.  The weighting of share price used to calculate the Dow leaves IBM as a larger effect on the Dow in terms of percentage moves.

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#2) On April 12, 2008 at 9:32 AM, a1japb (< 20) wrote:

Read GE's first quarter, I did not find it bad at all, all sectors up, revenue up. most importantly huge increase in backorders, negative was financial side surprise surprise. Just added it to my caps picks. If anyone is waiting for positive earnings not gonna happen. These are great times for companies to clean up the balance sheets while blaming someone else for their problems,I'd do the same thing. I'll be adding all these big boys to my cap picks as they correct to more reasonable values, thanks.

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