logo
  Join        Login             Stock Quote

Stock Market Opening Report - November 30, 2012

 November 30, 2012 01:36 AM
 


(By Rich Bieglmeier) Thursday was another good day for stocks as sellers tried to take the market underwater, but buyers prevailed and the indexes finished well into the green. However, gains might be running towards the end of their rope, for now.

Just as the key benchmarks are difficult to bust on the way down, they are equally as tenacious on the way up. The NASDAQ is 15 points below its 50-day moving average. The Dow has another 200 ticks of headroom before butting up against its 50-day mark, and the S&P is only 7 points away from touching the key benchmark.

Looking back at the last 10-years for the S&P 500, when the indexes were trading below its 50-day average for at least a month, we could only find one case where the first attempt to break the technical trend-line was final. In other words, after bypassing the 50-day it stayed above the watermark for an extended period.

[Related -Smith & Wesson Holding Corp. (NASDAQ:SWHC) Q2 Earnings Preview: Gonna Fire Blank Guidance?]

With the NASDAQ and S&P within pillow-talk distance, it is likely investors see both challenge our findings. Don't be surprised to see the duo go past the 50-day line, only to back up afterwards. The good news is that usually the 2nd or 3rd pass is the last of trading below the key average.

The big news for today will be Personal Income & Outlays. Wall Street expects personal income to rise by 0.3% and spending by 0.1%. As usual, the most important side of this report is what people are doing with their wallets. Spending reports have been mixed in the last few announcements. As a result, we suspect today's number will hug expectations. With Jobless Claims running higher than expected, a downside surprise on income would not be unusual.

[Related -Alliant Techsystems Inc. (ATK): Forget Gun Stocks, Ammunition Maker Is Up 52%]

Earnings season is slowing to a trickle. With slim picking, big surprises tend to standout more as there is less competition for the earnings' spotlight. Here, are this week's iEstimates.

CompanyTickerDateEPSiEstimateSurprise% Surprise
G-Iii ApparelGIII12/3/2012$2.352.720.3715.74%
Toll BrothersTOL12/4/2012$0.240.330.0937.50%
Francescas HldgFRAN12/5/2012$0.220.230.014.55%
Smith & WessonSWHC12/6/2012$0.240.270.0312.50%
iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageInitial Jobless Claims Rose Unexpectedly

Claims unexpectedly rose in the latest report through last weekend to breach 300,000 for the first time read on...

article imageAll Quiet on the Record High Front

What can we glean from the media’s lack of attention to the market’s recent record read on...

article imageThe Chip Maker Short Sellers Should Be Watching

Investing in semiconductor stocks is always tricky. Industry cycles can lead to bumps in the road for the read on...

article imageChicago Fed: US Economic Growth Slowed In October

The pace of US growth slowed more than expected in October, according to this morning’s update of the read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.