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2) Indexes were either oversold (Nasdaq) or nearing a key support zone (S&P)
3) Historical tendency of market to turn higher from April 14-15 is remarkably consistent
4) If the market was topping before a spring swoon, it wasn't going down without one more look at the highs
My plan to buy the pre-market lows on Monday was foiled by aggressive investors already doing the same with a higher open and strong rally in the first two hours above 1830.
Then this morning, believing I could buy the strength above my support zone of 1810-20, I stopped myself out of a bullish play on the Nasdaq when the market fell apart after the open on Ukraine fears and a 1.8% drop in the German DAX.
And here now, Mr. Market is turning green again after lunch and looks like he will attempt a strong close above 1830-35, which would be very bullish in the short-term. Make that my 5th reason to be bullish this month.
I fooled myself today because I still should have had been a buyer above yesterday's low at 1815. But enough about me...
Where do you stand? Are you buying April earnings season across the board, or in select areas?
And what earnings reports are you most looking forward to, either because you own the stock or want a view on a sector or industry?
Johnson & Johnson (NYSE: JNJ) delivered a strong report this morning and after the bell we get Intel (NASDAQ: INTC), Yahoo! (NASDAQ: YHOO), and CSX (NYSE: CSX).
Thursday highlights include General Electric (NYSE: GE), Goldman Sachs (NYSE: GS), DuPont (NYSE: DD), Honeywell (NYSE: HON), Baker Hughes (NYSE: BHI), Schlumberger (NYSE: SLB), and Chipotle (NYSE: CMG).
CHIPOTLE MEXICN (NYSE: CMG): Free Stock Analysis Report
GOLDMAN SACHS (NYSE: GS): Free Stock Analysis Report
INTL BUS MACH (NYSE: IBM): Free Stock Analysis Report
YAHOO! INC (NASDAQ: YHOO): Free Stock Analysis Report
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