The good news is that stocks are pointing to a higher opening on April 27. The bad news is that stocks have gone nowhere since April 9. So there the bulls nor the bears at this point have much of anything to celebrate. This isn’t something that has taken place just here in the US, but in markets across the world. How you want to interpret all of this is up to you, but I see it as a sign of fading bullish momentum, and a market that is waiting for earnings to wrap-up. 

Germany DAX

The DAX index has seen a solid floor around the 10,250 level, with resistance around the 10,750 level since April 7. 

NASDAQ (QQQ)

Meanwhile, the Nasdaq continues to rise in this perfect trading channel. It is essential to continue to monitor closely. 

S&P 500 (SPY)

Meanwhile, the S&P continues to move in the same sideways trading zone, as I have continued to note. Nothing has changed here.

Oil

Equity markets are ignoring the move lower in Oil today. 

Amazon (AMZN)

Amazon is very close to breaking out this morning if it can rise above $2,450. Maybe it breaks ahead out of the earnings? Sure it is possible, but it could be a sell the news too. Credit Suisse raised its price target on the stock to $2,800 from $2,400. I continue to think this is a sell the news stock, so just be careful, that is all I can say.

Apple (AAPL)

According to a report from the WSJ, Apple will be delaying the launch of its newest iPhone. The stock has struggled in this region around $280 to $290. 

Acadia (ACAD)

Acadia has been moving higher in recent weeks and nearing resistance around $52. So we will have to watch this one closely. One of its peers Axsome is rising by 50% this morning on positive Alzheimer agitation data; this is not an area that Acadia is going after, so hopefully, the market understands that. 

Boeing continues to a diaster from so many angles. Just watch support at $126, that is what matters most at this point. 

That’s all for this morning.