The market was very strong today, led by the energy stocks. Oil bounced today and oil services stocks beckoned inverstors back in. RIG added +4.24%, with an additional news of a successful trading debut on the Swiss Exchange. SLB was up +4%; DO bounced +3.88%; and, NOV rose +3.53%. It does look like this sector is heading higher.
This morning, GS reported a 1Q net income that nearly doubled, easily beat the estimates. GS initiall traded higher, but, the SEC charges still weigh on the stock. GS ended down 2.05% for the day. On the other hand, C continued to trade higher off of its earnings report on Monday. C traded above $5 intraday, but, closed at $4.97. AIG saw a surge today of +6.5%. If AIG breaks the resistance at $42, it should test $45.
After the market, AAPL and ALTR reported surprisingly good earnings. AAPL’s numbers were so incredibly good that it beat its revenue estimate by more than a billion dollars!! AAPL sold 8.75 million iPhones vs. an expectation of 7.5 million. iPod and Mac sales were also above consensus. AAPL initially jumped to almost $265 per share in after-hours, before settling above $257, up more than +5%. ALTR’s profits more than tripled, sending its stock up +5.61%. JNPR showed a profittable quarter, but, its shares fell 6.69%.
The Dow was up +25.01 points; SPX added +9.65 points; Nasdaq gained +20.20 points:
OIH (oil services) led the market with a +4.14% rise. XLE (energy) was also strong, up +1.95%. XLF (financials) bounced +1.33%. MOO (agriculture) finally found some bottom-fishers, up +1.35%. INX2 (internet) garnered +1.36%, while SOXX (semiconductors) added +1.55%. FXI (Chinese ADRs) gained +1.62%.
SPX
SPX added +9.65 points to close at 1207.17, above the 1200 level. The MACD flattened.
Nasdaq
Nasdaq gained +20.2 points to close at 2500.31, above the 2500 level. The MACD turned flat.
Last Thursday, we were looking for a quick pullback. We were looking for SPX 1200 and Nasdaq 2500 to be tested. On Friday, we got that pullback, and more, due to SEC charges on Goldman Sachs. This weekend, in my Market Forecast, I discussed the importance of the 10-day MAs on SPX and Nasdaq, which were both tested yesterday. Both indices managed to close above their respective 10-day MAs yesterday. Today, we saw strong buying actions ahead of AAPL’s earnings, while not particularly on AAPL itself during the day. AAPL’s blowout numbers should help push the market higher tomorrow. With the energy stock bouncing strongly, the market can retest last Thursday’s highs this week.
Good night and HappyTrading! ™ 
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