Stock Market At A Glance - Apple (AAPL) Earnings

Posted by admin

October 19, 2009

It looks like the market wants to head higher and defy any hope that bears camp might have since the break of 10,000 on Dow. Today was a very bullish day as the market staged a broad-base rally. The only index that really concerns me with the whole rally is the small-cap Russell 2000 Index ($RUT) or Ishare Rus 2000 Index (IWM) which has been lagging the other major indices. If $RUT cannot catch-up with the overall market, this could spell trouble (negative divergence) for the market.

Index	Close	Change	% Change	Trend
Dow Jones	10092.19	96.28	0.96%	UP
S&P 500	1097.91	10.23	0.94%	UP
Nasdaq	2176.32	19.52	0.91%	UP

After hours, Apple Inc (APPL) reported earnings which handily beat analyst estimates by a wide margin. Shares jumped higher by 12.54 (6.6%) to 202.40 hitting new highs for the year.

Stock Trade Update: Intiated a trade in WNS Holdings (WNS) long @ 16.88. It is a thinly traded stock which provides offshore business process outsourcing (BPO) services. On the chart, it has formed a flat base between 15-16 and seems to be breaking out on above average volume.