Based on the charts and the lack of momentum, this needs to trade down to 68 and change before new buyers step in.
Today marks the reversal. 5 year anniversary of this bull market. Market has been irrationally going up on poor data and now will go down on decent data. Traders won't want to hold into the weekend again, given the Ukraine situation. Time to make money on the downside.
Sentiment: Strong Sell
Today might mark the big reversal. 5 year anniversary of this bull market. Traders don't want to hold into the weekend with the Crimea situation. Market has been irrationally going up on bad data, so on decent data today, I bet it reverses.
Sentiment: Strong Buy
Net earnings were $1.01 billion, or 73 cents a share, compared with $1.02 billion, or 68 cents a share, a year earlier.
Overall sales fell 3 percent to $17.70 billion, missing the analysts' estimate of $17.91 billion.
Yes EPS grew, but I was talking about earnings without the impact of stock buybacks.