Computer Hardware and Apple
The technology sector was strong yesterday. At the top of the list, computer hardware hosted the most stocks with relative strength. In a welcome surprise to yours truly, CNBC and its talking heads got it wrong again. Apple blew away earnings, issuing strong projections and forward guidance. China sales grew 21% in first three months of 2018, and iPhone X was biggest selling smartphone in the country.
Computer Hardware – Top 15
A quick scan of these names is worthwhile. NTAP was one of several names that show promising patterns.
Futures are oscillating this morning between red and green.
In other news, the FED completes its two days meeting. Fed Chair Jerome Powell has said, he will not hold a press conference following the decision and will not issue updated economic projections. Analysts will be focusing on the central bank’s post-meeting statement.
Since the FED is active today, we will be patient with new trades. Instead, we will keep an eye on most active stocks as FED days are usually slow.
We will be LIVE at 9:20 AM.
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