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We are watching GILD to help
with our general market directional analysis. Yesterday GILD crushed all
earnings estimates. One would expect the stock to be up 5% to 10%. There are
several more high profile growth companies due to report this week and next,
which will give us a feel for the overall market. If enough of them report
great numbers maybe the indexes push into new highs and stay there. If they
don't then we know where the indexes will go.
In a healthy market, stocks
that crush their estimates and guide forward estimates higher should be able to
move back above their 50 dmas in a relatively short period of time. The concern
is that if a company beats top/bottom-line estimates isn't getting the price
action it deserves, then something larger than the stock (i.e. the sector or
market) is going on and, in that case, this current correction could be
Follow Scott O'Neil at Twitter.com/WScottOneil
As always, thanks for the timely and insightful update.
We know more now. Thank you.
GILD still unable to take the 50 DMA. FB shows raised guidance in Market Smith and 183% eps growth in the recent quarter. Awesome numbers coming out of a 2nd stage base and yet....
Looks pretty good as of May 7.
Looking forward to your next blog post Scott -- it's about time, hint hint.
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