Market Notes:
IBM and INTC both reported earnings last night. Both beat the “expectations consensus” and now both are down in after-hours and premarket trading.
I’m not reading too deep into this right now. Markets are due for a correction so a few dips in big caps isn’t too surprising.
The SPY’s breakout to new highs earlier this week should be met with some sideways movement and consolidation before making its next move up or down. I remain bullish overall.
There appears to be some rotation in the market, many of the stock I’ve been watching finally took a rest. There are plenty of new stocks still trading in the $1-2 range that could start to make strong runs in the coming days.
Futures are down. Let’s finish the week strong.
Watchlist:
*BRN has support at $2
*APWC has resistance at $4.50
*MSN has resistance at $1.30
*WIMI is on watch
*DYNT has support at $1.20
*BBGI has support at $2.20
*ONCS has support at $7
*RWLK has support at $2.50
*PULM has support at 41.50
*SYBX has support at $4
OPTT has resistance at $4.50
SEEL has support at $2.09
OCX has support at $4.50
LPCN has resistance at $2.40
CFMS has support at $1.40
DBD has support at $12
TRCH has support at $1.60
ADMP is on watch
WPRT has support at $8.40
