Monday, July 20, 2009

Technical Picture - Testing the Base for a Breakout

Earnings this week - Monday: HAL, JCI, BSX, TXN, and ZION... Tuesday: AKS, BLK, CAT, KO, FCX, LMT, MRK, RF, SGP, STT, AMTD, UNH, AAPL, GILD, STX, SBUX, and YHOO... Wednesday: MO, BA, DAL, GENZ, MS, NTRS, PFE, PEP, WFC, EBAY, ISRG, MOS, and VMW... Thursday: MMM, T, BMY, CME, EMC, GR, NOC, POT, RTN, UPS, AMZN, AXP, BIDU, BRCM, BNI, MSFT, and NFLX.

We need to see a few more big beats like INTC and GS last week, otherwise, the rally will stall and/or the BO will fail.

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