Dow nearing completion at high of the day into the close of the day.
Leading economic indicators are improving.
Good sectors you would prefer are leading the market: Energy, Financials, Industrials. Big industrials are putting up big gains.
Bloomberg news reporting it now.
Cisco seeing rising tech spending in all regions and sub-regions (except S. Europe). Cisco's visibility tends to lead GDP results by 1-2 quarters in downturns or upturn cycles, per John Chambers CEO this morning on Bloomberg and CNBC.
Telecom spending has begun to recover the past 2 quarters he reports. Computer purchases and chip supply will follow in parallel.
From news afterhours...
NEW YORK (Reuters) - Network equipment maker Cisco Systems Inc posted a higher than expected quarterly profit and said current-quarter revenue could increase, giving some relief to investors who had worried it was being hurt by weak technology spending.Cisco shares rose about 8 percent after Chief Executive John Chambers said the company was seeing some good signs in the United States and that other parts of the world are "encouraging.""We are managing the business to account for a continued slow steady recovery on a global basis," Chambers said.Chambers' commentary is closely watched by investors as Cisco is seen as a strong indicator for the general health of the technology industry because of its broad customer base.
Technicals for LNG are looking bullish.
Fundamental catalyst of govt approving expanded export licenses if announced formally, as was recently signaled by US officials should perpetuate the recovery.
AP: Natural Gas Boom Means More Fracking, Increased Overseas Exports
Posted by George Prentice on Sun, May 12, 2013 at 3:00 PM
When natural gas exploration companies began what has become a nationwide drilling boom, they pointed to energy independence, but the Associated Press reports this morning that U.S. producers are poised to ship vast quantities of their gas overseas in order to get a higher price.
"As the industry looks to profit from foreign markets, there is the specter of higher prices at home and increased manufacturing costs for products from plastics to fertilizers," AP reported. "If approved, the resulting boom could lead to further increases in hydraulic fracturing."
Hydraulic fracturing—better known as fracking—is a highly controversial method of injecting pressurized liquids and solids into the earth's crust in order to free up more gas and oil deposits.
The U.S. Energy Information Administration says that natural gas production has increased by one-third since 2005.
Meanwhile, three separate companies—Energy West Corporation, Jetez Petroleum and Snake River Oil and Gas—have been conducting a unique process called vibroseising in which they shake the earth in western Idaho and eastern Oregon to determine where best to explore for natural gas.
Another company, Bridge Resources—once trumpeted as the face of Idaho's new gas exploration bonanza—limped away from its Idaho operations after negotiating scores of Idaho land leases but ultimately collapsing under financial troubles. Snake River Oil and Gas snapped up much of Bridge Resource's assets in March 2012AP News and mass media is beginning to acknowledge and report this large emerging highly profitable exportation industry... a win-win for initial entrant leaders and US economy and jobs...
Strong topline growth with improved cost control, with recovering economy, quantitative easing by US Japan, abundant labor available, Europe banks healing. SP officially in bull market up 20% from bottom.
Stock oversold on 2x daily volume recently. Having declined deeply the past 6 weeks on no news, if Emcore's company report is anywhere close to status quo the stock is due for a huge snapback rally as the bears are proven wrong.
Microsoft announced 100 million Win8 contracts and Windows Blue coming, and rotation has begun to accumulate large safe tech and energy (which were ignored since 2008).
Gold rolled over last month. Long term bonds may be near to finally rolling over, as the market begins to consider tech, banking, energy which is essential to a normal recovery.
...from years of safe haven bonds and utilities. Techs beaten down are 40% below long-term PE average price. (CNBC news)
BCOM should rise with this rotation finally beginning to come in to technology companies.
Oil, cyclicals should begin to lead. (utilities, safe havens led past 4 months). HERO to rise higher with jobs, DOW, SP starting to (finally) breakout.
wall street skeptics abound (sell in may, etc)
Under invested funds have underperformed. FED, ECB, jobs did what was wanted.
First time in 2 months we put two weeks market up.
Analysis is on if this is a game changer.
rose above 50 tick support as has high tech indices on the ten minute chart. Dow short says this is bullish sign.
EC rate cut and further business capital spending nitpick in US will further signal a cyclical upturn and turn on the green light to begin accumulation of small caps and technology stocks like BCOM.
Markets and tech rising on fundamental banking stimulus beginning in Europe and technical attraction higher on SP500 near breakout resistance
LNG way oversold RSI indicator was lowest in three weeks earlier this morning, now beginning a rise. Some oil (HERO) some techs up (HPQ, LRCX, etc)
Rising natural gas prices and Japan China demand growth gives a windfall upside to Cheniere.
If other suppliers get export approval then LNG's next export terminal expansion will also be slotted for approval. Cheniere was smart to be firstest with the mostest.
LNG has same trading pattern as recently when the daily chart candlestick pattern shows price dip its toe down two days, then price resumption.
Europe mandated Cyprus gold sell off and short traders needing cash drove the commodity turbulence.
Growth remains intact. China up 7.7%, Japan liqidification just begun to be released at least for the next two years, along with US Fed. European liquidity QE expected to follow.
Fox Business Stuart Varney just reported this. This caused the gold selloff because Cyprus had to do it as ordered by Europe Central Bank.
SD will reawaken to reality soon.
Bob Pisani reported that IPO offerings have again begun to rise, something "that does not happen in a down market". Watch the metrics like IPOs and Banking (like JP Morgan) to lead the upturn, which is needed to take upward leadership for this market to take a leg higher.