NEW YORK ( TheStreet) -- Today I review the price action for the stocks I profiled pre-earnings, those who reported their results between Jan. 24 and Tuesday. The winners have been outrunning the losers despite overvalued fundamentals and as weekly charts for the major averages become overbought.
I profiled the first six stocks covered today on Jan. 22 in
On Monday, I wrote,
On Tuesday, I wrote,
Technically, the Dow Industrial Average has an extremely overbought daily chart, a weekly chart that is nearly overbought, and a monthly chart that is overbought. The Dow is knocking on the door of 14k solid gold with the October 2007 all-time high is 14,198.10 and the all-time closing high at 14,164.53 set on Oct. 9, 2007.
Here's My Earnings Scorecard:3M (MMM) ($101.81) reported in-line EPS at $1.41 per share but reported improving product sales. The stock has been upgraded to buy from hold and traded to a new multi-year high at $101.87 on Tuesday. My monthly value level is $91.64 with a weekly pivot at $100.21 and semiannual risky level at $111.34.
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