Salient to Investors:
Peter Jankovskis at Oakbrook Investments says the market has built a nice base, gotten through earnings season, and is in the phase where economic reports will determine if it can hold up.
86 percent of S&P 500 stocks trade above their 50-day moving average, the highest level since February 13 and versus the 2-yr high of 93 percent in January.
72 percent of companies so far reporting have beaten estimates, 52 percent have missed sales estimates.
Scott Black at Delphi Management says the rally will continue on continued Fed stimulus, especially as fixed-income offers nothing – we are not even near 6.5 percent unemployment threshold.
Roelof-Jan van den Akker at ING said the S&P 500’s uptrend is intact and likely to continue, triggering a buy signal for the next year if its monthly close breaks above short-term resistance at 1,635, thereby leading global stock markets higher.
Read the full article at http://www.bloomberg.com/news/2013-05-08/u-s-stock-futures-little-changed-whole-foods-advances.html
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