Intel Earnings Surprise

By Rev Shark

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The market was stuck in a holding pattern today ahead of the major earnings reports. We basically just treaded water and went no place. The bulls will focus on how mild the selling was, but the real surprise would be if we sold off in front of earnings reports when expectations are so high. The market was technically ready for a little rest at this point, and it still looks fine overall, but until we see the reaction to some earnings reports, I wouldn't be too excited about anything. INTC earnings are hitting as I write and maybe we should get excited. Intel has put forth another very strong report. What is particularly impressive is that it has bumped fourth-quarter guidance from $9.7 billion to $10.6 billion versus consensus estimates of just $9.51 billion. That is impressive. Once again, Intel has caught a lot...