Friday is shaping up to be a big day in the market as there are 3 major Tech companies reporting after the closing bell. International Business Machines (IBM, $208.62, down $1.05), Google (GOOG, $768.52, down $14.04) and Microsoft (MSFT, $28.71, down $0.12) will confess their numbers to the Street and the after-hours moves could be tremendous.
IBM is a major Dow component and accounts for over 10% of the Dow’s weight while Google could easily make a 50-point move and will weight heavily on the S&P 500 and Nasdaq. The bulls continue to play catch up for the week and these stocks will either help the bulls hold support or they will aid in the bears attack to reach the second wave of support.
Tomorrow is also option expiration for the April contracts that will also add to the possible volatility so we could get clear clues on how next week will shape up.
The Dow is currently down 51 points to 14,567 while the S&P 500 is lower by 6 points to 1,545. The Nasdaq is declining 25 points to 3,179.
We are adding 4 NEW TRADES to the portfolio as official recommendations from our Watch List so let’s get to work. We are also ringing the register on HALF of a trade that is up 126%. Subscribers, check the Members Area for the updates and we will be back in the morning with a full report.