This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Get Tech Insight From Latest Earnings

Traders can attempt to capture the technology sector's remaining upside momentum, but deciding whether to add to holdings in this group is a tough call if you are a long-term investor. That said, technology remains the cheapest sector in the market according to my model, at 13.2% undervalued. Its weekly chart profile would stay positive on a close this week above the five-week modified moving average at 2137. With my quarterly risky level at 2319, the upside to the end of the year appears to be limited to 6.4% above Tuesday's close of 2178.

Leading technology higher is the Nasdaq 100 Unit Trust (QQQQ), which tested $40.91, a level not seen since January 2002. The upside into year-end is my quarterly resistance at $42.51. Weekly support lags at $39.04.

Semiconductors generally lead the Nasdaq higher, a key sector represented by the Philadelphia Semiconductor Index. The group is showing some improvement, but that improvement looks limited. The SOX's weekly chart profile will shift to positive at Friday's close if it's above its five-week modified moving average at 451.25. My monthly pivot is 438.20 with my quarterly resistance or risky level at 487.90, which should curb upside for the SOX.

Soon, we'll have more insight not only into semis but computer manufacturing and software. Together these are my three focus industries, and this week's tech stock earnings reports include both undervalued and overvalued companies in all three groups. By Friday morning, we will know whether demand for semiconductors remains strong, and if that demand is leading to business for leading semi equipment maker Applied Materials (AMAT - Get Report).

Will Marvell Semiconductor (MRVL - Get Report) achieve yet another 52-week high despite being more than 20% overvalued? Is Network Appliance (NTAP - Get Report) taking market share from storage leader EMC (EMC - Get Report)? Does Autodesk (ADSK - Get Report) have the momentum for new highs despite being 15% overvalued? Is the turnaround at Hewlett-Packard (HPQ - Get Report) on track?
1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AMAT $15.65 0.00%
ADSK $51.57 0.00%
EMC $27.86 0.00%
HPQ $29.30 0.00%
NTAP $33.16 0.00%


Chart of I:DJI
DOW 17,084.49 +33.74 0.20%
S&P 500 2,014.89 +15.91 0.80%
NASDAQ 4,830.47 +19.6820 0.41%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs