Market Close for Tuesday, November 02, 2010

After the close…

We have STEC +6.7%, HIG +5.0%, ERTS -1.9%, LNC -3.9% following earnings reports.

Steady support gave stocks strong gains today, but resistance capped the climb.

After the close notable stocks reporting earnings include ASIA, CECO, CTRP, ERTS, EXM, HIG, HTZ, LNC, PEET, RLD, STEC and TGI.

Futures are higher after hours: S&P 500 futures are +3.13 from fair value of 1189.97 and Nasdaq100 futures +3.63 points from fair value of 2148.12.

All ten sectors were in positive territory, led by utilities (+1.2%), consumer discretionary (+1.1%) and energy (+1.1%).

Tomorrow morning before the open, three economic reports are scheduled to be released: 1) MBA Mortgage Applications (Consensus NA), 2) Challenger Job Cuts (y/y) (Consensus NA) and 3) ADP Employment Change (Consensus 23K).

Also tomorrow before the open notable stocks expected to report earnings include: ABFS, AET, WLP, ASCA, AOL, CVS, GRMN, MGM, TAP, PHM, PWR, Q, TDW, TWX, and WLP.

I enjoyed the jump in ^SML and PVIX today. Charts are showing green again.

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