H&S top is playing out according to plan.
The 15 min. chart looks like an inverse H&S bottom. On a measured move basis, we can expect to climb back up to resistance at 2510.
S&P much weaker than the NAZ, but 50 SMA held as support today and prompted a somewhat choppy, low volume relief rally.
Companies trading higher in after hours in reaction to earnings:
DCI +5.8%;
COGT +3.3%;
WX +2.3%...
Companies trading down in reaction to earnings:
BGP -4.0%;
SNDA -3.0% ...
Companies trading higher in after hours in reaction to news:
FORD +14.7% (enters into new license agreement with Motorola);
ARTC +0.9% (Study presented at SpineWeek finds Plasma Disc decompression effective for contained cervical disc hern)...
Companies trading lower in reaction to news:
SCA -3.6% (appoints Elizabeth Keys as Chief Financial Officer);
ADM -2.5% (launches equity units offering of up to $2 billion);
PEIX -2.9% (issues 6 mln offering of its common stock in a 424B5);
HERO -1.2% (announces intention to offer $250 million convertible senior notes due 2038 and use up to $50 million of net proceeds to repurchase stock);
VRGY -0.6% (announces that U.S District Court finds Silicon Test Systems, in contempt and extends duration of preliminary injunction);
INTC -0.2% (EU prepares to take action against Intel, report says - Reuters.com).
