Tuesday, July 7, 2009

Alcola Inc Earning Could Shake The Market

S&P500 Daily Chart:
Sit tight for 2Q earning. Tomorrow after market closes Alcola Inc (AA) will announce 2Q earning; analysts estimate is $-0.37 per share. It will be a market mover after hours and Thursday.
S&P closed below the 200 SMA ,if it fails to get back above it with in 2-3 days it would be very negative for bulls. The next supports are 880-875 and 860.
If we get a bounce then head lower, picture would be perfect ,but we could rush lower without last push up.

S&P500 in short term: partial oversold
S&P500 in intermediate term: extremely overbought
S&P500 in long term: oversold to partial neutral