S&P finds sellers ahead of the 50 day MA (again)
The 50 day MA comes in at 2626.53. High reaches 2625.50. Netflix is the first major tech firm to report after the close.
The S&P moved to a new session high at 2525.50 but still could not breach the 50 day MA at 2626.58 (one point short). A move above targets the 50% at 2643.
After the close Netflix will report earnings. They represent the first major high flyer to announce in the earnings season. Earlier this week, they announced that they will increase the price for their subscription service to $13 from $11. Since the December 24 low, the price rise to the recent high bounced 55.19%. Man..... The price is above its 100 and 200 day MAs at $317.87 and $334.08. Buy the rumor. Sell the fact?
Below is a look at the major earnings announcements for next week. The yellow highlighted releasess are for companies in the Dow 30.