Apple Disappoints on Earnings

U.S. stocks fell Tuesday after weak earnings reports from IBM and UTX dragged down the Dow Jones.  The Dow  declined 181.12 points, or 1%, to 17919.29.

The S&P slipped 9.07 points, or 0.4%, to 2119.21, while the Nasdaq lost only 0.2%, to 5208.12.

It looked worse than it was, because most of the decline was due to those two stocks. YHOO and MSFT reported after the close today and both are down just slightly in after market trade.

Apple is down $8 in after market trading, so I would expect a sell off in tech and Nasdaq related items in the morning. Its currently trading around 122 and the 200 day moving average is around 120, so look for that spot to act as support.


I’m watching ANTH and may make an entry in the next day or two.


We may see a rocky open.  See you in the morning.

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