NASDAQ Technical Picture - High Volume Breakout

Today's high volume breakout was led by AMZN (great earnings) and the internet sector, as well as solid continuation in the semiconductor sector. Yesterday's hammer/hanging man resolved itself in favor of a bullish hammer. Initial claims tomorrow at 8:30 and here is tonight's post market gapper's list courtesy of Briefing.com

Companies moving in after hours trading in reaction to earnings: Trading Up: OI +17.9%; FFIV +16.0%; NTRI +13.1%; WEN +12.6%; GDI +10.3%; DBTK +9.5%; MTH +8.1%; PLXS +7.7%; AAPL +7.5%; RKT +7.4%; TUP +7.3%; SORC +6.7%; SWKS +6.3%; PDFS +6.2%; XLNX +5.0%; SWK +4.9%; ISIG +4.6%; NUVA +4.5%; MRH +4.2%; ZMH +3.9%; MXIM +3.3%; AEIS +2.8%; DAC +2.5%; TGIS +2.4%; GRA +2.3%; GSIC +2.2%; DSCM +2.1%; TEX +2.0%; QI +2.0%; AV +1.8%; LOOP +1.6%; MIPS +1.3%; NANO +1.2%...

Trading Down: ISLN -21.2%; DVW -11.8%; SMMX -10.4%; BLDR -7.4%; ARBA -6.5%; HLIT -6.4%; CYBE -6.3%; LSI -5.5%; VAR -5.2%; SKX -5.0%; EMKR -4.1%; SCSS -4.0%; AB -3.7%; RMBS -2.9%; FORM -2.9%; RYL -2.5%; MUR -2.2%; NLS -2.0%; STR -1.9%; RARE -1.9%; IRBT -1.8%; KOMG -1.7%; TSCO -1.5%; PHM -1.4%; CTXS -1.3%; MRVC -1.1%; WSH -1.0%...

Companies moving in reaction to news: Trading Up: PSAI +14.0% (to become private company); MATW +5.1% (will replace Swift Transportation in the S&P MidCap 400 index); GGBM +3.0% (complies with NASDAQ requirement regarding disclosure of auditor opinion qualification); HLF +2.4% (raises Q1 guidance; issues Q2 guidance and raises FY07 guidance); DSCM +2.1% (expands product selection with launch of drop ship); ULTR +1.3% (completes successful follow-on offering of common stock priced at $19.00/share); SNDK +1.2% (and Qimonda to jointly develop and manufacture mobile storage solutions for the multichip mkt for mobile handset vendors); NANO +1.2% (announces CFO Douglas J. McCutcheon has resigned)...

Trading Down: AFFX -11.2%; EEE -5.1% (Kevin Collins named Interim President and CEO replacing Mark Sexton); LGBT -3.3% (sees Q1 revs of $16-17 mln vs $18.33 mln Reuters consensus); FORM -2.9% (Guiding Q2 EPS at $0.32-35 vs. 0.36 consensus on GAAP basis. Revs at $107-$111 mln vs. $108.6 mln consensus).