NobleTrading Weekly Stock Update
The Week Ahead: Investors were spooked by a falling consumer confidence number while personal income and spending data showed the biggest drop in 10 months. The data continues to flow starting Monday with pending home sales and construction spending. Auto sales arrive Tuesday as the FOMC begins a two day meeting on interest rate policy. The FOMC decision will be announced Wednesday afternoon. Third quarter productivity and jobless claims data are announced Thursday which precedes Friday's all important Employment Report.
Stocks to Watch: Zale Corp. (ZLC) after showing a much larger Q4 loss versus a year ago is undergoing an SEC probe of their accounting practices. Manitowoc Company (MTW) beat earnings estimates for Q3 despite being substantially lower than last year, and Standard & Poors kept a strong buy on the stock. Stanley Inc. (SXE), an IT services firm beat Q2 estimates and year ago levels in their earnings report as the stock pushed back above a declining 200 day moving average. Microstrategy (MSTR) handily beat estimates for Q3 as the stock vaulted to an 18 month high.
Special Note: The S&P 500's decline in October halted seven straight up months as the broad based index tests its October low. Several indexes registered bearish outside down weeks including the Dow Transports, Russell 2000, and S&P 600 Small Cap Indexes where higher highs and lower lows were made than the previous week and closed lower. This candlestick bar pattern is quite often associated with major reversals in stocks and can be considered a precursor for a larger decline than the 9% drop in July despite a 65% rise since the March low in the S&P.
Commentary provided by Barry Ward, Registered Principal, NobleTrading.com, Inc.
Check out NobleTrading's new earnings calendar, upgrades and downgrades, and analyst coverages here.
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Stocks to Watch: Zale Corp. (ZLC) after showing a much larger Q4 loss versus a year ago is undergoing an SEC probe of their accounting practices. Manitowoc Company (MTW) beat earnings estimates for Q3 despite being substantially lower than last year, and Standard & Poors kept a strong buy on the stock. Stanley Inc. (SXE), an IT services firm beat Q2 estimates and year ago levels in their earnings report as the stock pushed back above a declining 200 day moving average. Microstrategy (MSTR) handily beat estimates for Q3 as the stock vaulted to an 18 month high.
Special Note: The S&P 500's decline in October halted seven straight up months as the broad based index tests its October low. Several indexes registered bearish outside down weeks including the Dow Transports, Russell 2000, and S&P 600 Small Cap Indexes where higher highs and lower lows were made than the previous week and closed lower. This candlestick bar pattern is quite often associated with major reversals in stocks and can be considered a precursor for a larger decline than the 9% drop in July despite a 65% rise since the March low in the S&P.
Commentary provided by Barry Ward, Registered Principal, NobleTrading.com, Inc.
Check out NobleTrading's new earnings calendar, upgrades and downgrades, and analyst coverages here.
Click Here To Open An Account
NobleTrading Direct Access Trading
NobleTrading.com Offers Online Stock Trading, Online Options Trading
Online Futures Trading, Online Forex Trading
Worldwide Brokerage Service, Day Trading Brokerage
posted by NobleTrading at
9:53 AM
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