A number of key stocks will report earnings this week. These reports will set the tone for the stock market over the next 2 - 4 weeks.
Generally positive results from these key companies could provide the momentum to propel the market above 1300 on the S&P 500. Weaker than expected EPS results will likely result in profit taking at this important resistance level.
Here are the Chaikin Power Gauge Ratings, the dates of the EPS reports and the expected quarterly EPS:
Date Name/Symbol Price EPS Est. Chaikin Power Gauge Rating
1/17/12 Citigroup (NYSE:C) 30.74 $0.62 Bullish
1/18/12 Goldman Sachs(NYSE:GS) 98.96 1.42 Bearish
1/19/12 Bank of America(NYSE:BAC)6.61 0.18 Bullish
IBM (NYSE:IBM) 179.16 4.63 Neutral
Intel (NASDAQ:INTC) 25.14 0.63 Bullish
Microsoft (NASDAQ:MSFT) 28.25 0.78 Bullish
Union Pacific (NYSE:UNP) 109.73 1.80 Bullish
1/20/12 General Electric (NYSE:GE) 18.84 0.38 Bullish