Markets finished flat Thursday and going into Friday both the Nasdaq and S&P 500 are higher for the week by .9 and .5% respectively. More earnings announcements were brought to the table this morning and we will give both the bulls and bears something to feast on. HSY, was unable to deliver a sweet report Thursday for the second consecutive time falling almost 2%. Prior to that the stock crumbled 4.1% on 4/24 slicing its 200 day SMA, often a red flag if not recaptured quickly. It almost certainly will record a fifth straight weekly decline, but the stock has been fragile for sometime. After taking out a 100.08 double bottom with handle trigger on 2/5, it went on to post decent gains, a good sign. The week following, ending 2/14 rose 4.9%. The week ending 2/21 gained 2.3%, but since then the stock has been lower 14 of the last 21 weeks. Notice how the HSY attempted to break above the prior 100.08 breakout trigger in mid April and again on 6/20, but was for naught. Those round numbers are real. WAB on the other hand, looked similar to the EXP chart we posted in our opening paragraph last night. WAB hails from the super strong transport group, and had went back to test a former breakout trigger of 81.79 originally taken out on 6/18. That pivot formed in conjunction with the 50 day SMA and round 80 handle and today responded with a robust 6% gain.
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