The NASDAQ emerged from the top of its trading range today and finished with the highest close within the range so far. As mentioned over the last couple of weeks, a clear market direction cannot be determined until the markets are able to emerge out of this trading range. Thursday’s action is a clear positive for the bulls.  Since we are getting into the heart of earnings season, a number of positive earnings reactions could help continue the upward momentum of the market.

   
Because of the potential volatile moves on an earnings reaction, it is essential to know when your stocks are reporting. And of course, make sure that you are comfortable holding your stock into an earnings report. This generally requires one to be up on the position going into earnings.


To further emphasize how important the next two weeks are check out how many Growth 250 Stocks are reporting over the next two weeks:


•    Week of April 27th: 95 stocks or 34% of the Growth 250 reports
•    Week of May 4th: 81 stocks or 29% of the Growth 250 reports


An easy way to find out when Growth 250 stocks are reporting is to create a screen that will filter the MarketSmith Growth 250 list instead of the entire MarketSmith database.

 

 

If you have any questions, please call us at (800) 424-9033 or email us at reachus@marketsmith.com.

 

Best returns,

 

Irusha Peiris, CMT

National Speaker and Product Coach

MarketSmith