Cautious Ahead Of Major Earnings 在主要财报前保持谨慎

Major US stock market indexes are rallying sharply. At 9:23 Pacific Time Dow +210 ,S&P 500 +24.5, Nasdaq +87.5 , and Russell 2000 +15.7 . This is a surprise move by the market defying Intel's worse than expected earning report. There is no particular good news to drive the market up except may be due to the residue strength from previous day's strong LRCX, XLNX and TXN earnings. I think it is more like Fear Of Missing Out rally.

Technically, the Dow is getting even closer to its 200 Day Moving Average 24976 resistance. After rallying the fifth week, the 24976 resistance may become formidable to cross. May be investors are expecting no problem from next week's influential earning reports and they better be good. Next week's major earning reports are:1/28 CAT, 1/29 MMM, BIIB, PFE, AAPL, AMD, 1/30 BABA, BA, T, MCD, FB, MSFT, 1/31 MA, CELG, UPS, AMZN, 2/1 XOM. CVX, MRK, 2/4 GOOGL.  And don't forget the other important factor for the market: Chinese Vice Premier Liu He is scheduled to meet next week in Washington with U.S. Trade Representative Robert Lighthizer for trade talk.

May be it is time to be cautious as the Dow is approaching 200 Day Moving Average resistance.

美国主要股市指数大幅上涨。太平洋时间9:23道琼斯指数+210，标准普尔500指数+24.5，纳斯达克指数+87.5，罗素2000 +15.7。市场无视英特尔糟糕的盈利报告，这是一个令人意外的举动。没有特别好的消息推动市场上涨，除了前一天强劲的LRCX，XLNX和TXN收益带来残余强势之外。我认为这更像是害怕失去机会最高的表现。

从技术面来看，道琼斯指数更加接近其200日移动平均线24976阻力位。经过第五周的上涨后，24976阻力可能变得难以跨越。可能是投资者对下周有影响力的收益报告有信心吧，所以它们一定要好才能维持市场的涨势。下周的主要财报是：1/28 CAT，1/29 MMM，BIIB，PFE，AAPL，AMD，1/30 BABA，BA，T，MCD，FB，MSFT，1/31 MA，CELG，UPS，AMZN ，2/1 XOM。 CVX，MRK，2/4 GOOGL。并且不要忘记市场的另一个重要因素：中国国务院副总理刘鹤定于下周在华盛顿会见美国贸易代表罗伯特·莱希特（Robert Lighthizer）进行贸易谈判。

道指接近200日移动平均线阻力，或许是谨慎的时候了。