January 26th, 2012 Market Recap with SBUX Analysis

A higher volume reversal after opening the day higher is a point of concern heading into tomorrow. Like anything though until support is broken the trend remains intact.

Right now we are focusing on the very tight rising channel that has formed over the last month alongside the 10 MA. Both are shown below.

On the earnings front, the highlight today after the close is Starbucks (SBUX) which, “reported quarterly earnings and revenue that beat Wall Street’s forecasts on Thursday and raised its full-year guidance although its outlook remains below analysts’ expectations.” The stock is down just over 2% in after hours trading. Chart below.

Tonight’s charts have a bit more commentary included so I hope they are still easy to digest. And with that said, as usual there will be no recap tomorrow so stay frosty out there and I will see you back here on Monday. :)

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