Next week some notable tech companies will report quarterly earnings, i.e. IBM, GOOG, INTC. Looking at the chart for these stocks, INTC appears to be the only one might react positively on favorable earnings report and positive forward projections. The price action for IBM and GOOG look more like “sell the news.” If IBM breaks below 100, 96.50 could be its next support. Unless GOOG breakout of the downward price channel, it could be heading down toward the 380-390 level. These tech earnings reports could trigger the tech sector selloff and that will lead the market down. I will be watching these stocks for the next market movement.
