AAPL Earnings, FOMC Speak And Jobless Claims

 

AAPL Earnings, FOMC Speak And Jobless Claims - those were/are the things we are watching this week.

 

AAPL knocked the cover off the earnings ball (again) which reversed the recent correction in the stock price. The stock gapped higher and stayed there all day ultimately closing almost +9% higher. AAPL has been dragging on all the indexes, especially the Nasdaq.

 

The FOMC came out today with market friendly news as anticipated. They pledged to keep rates low until 2014 and increased their economic outlook. The market was glad to hear these pieces of news.

 

The other biggie this week will be jobless claims released tomorrow before the opening bell. Claims have disappointed over the last few weeks and the miss has attributed to the Easter Holiday long weekend. However, tomorrow will give us some insight into whether there was truly a Holiday distortion or not.

 

After April's successful expiration on Friday we have remained in 100% cash in both Trading Services. We did not want to game the items discussed above so we are sitting and watching right now. The market is in a little congestion zone from S&P 1358-1390. We are waiting to see which side breaks first and then can start layering on positions.

 

Thanks to everyone and have a great day!