Markets finished mildly higher with the Nasdaq and S&P 500 closing up near .3% on Wednesday as the Fed tapered another $10 billion in their monthly bond purchases. The S&P 500 still looks the best of the major indexes as it is comfortably above its 50 day SMA and just below a cup with handle pattern that started on 4/4 when the benchmark hit resistance at the round 1900. The S&P 500 rests less than 1% off its most recent 52 week high (all time high as well), while the Nasdaq clearly underperforming is 6% off its own. Some high profile tech names reacted to earnings releases with TWTR EBAY taking center stage. TWTR fell 9% today and it forgot to tweet it faux 2/1 split as the stock now rests almost 50% off its most recent 52 week high. It was its second consecutive earnings miss, as the stock plummeted by one quarter of its value on 2/6. TWTR came into this week down 9 of the last 10 weeks, and almost surely will extend that miserable run. EBAY fell 5% undercutting its 200 day SMA and is lower 5 of the last 7 weeks. Transport TRN put up a good quarter and gained 3.5% on Wednesday. It briefly traded above a 76.05 pivot point but CLOSED below it. Other names in the sector which has a good pulse on the genuine health of the economy is CP. The stock “chugged” higher by 3% and few sessions after a nice 5% plus gain after reporting its own earnings on 4/22.

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