Running out of gas
Stocks failed to extend the advance in afternoon trade. No one wants to be in a vulnerable position if a correction takes place. Still, the major indices finished the session modestly higher. Stocks are just 1% off of their 52-week highs. Texas Instruments announced an improved its earnings outlook. However, the semiconductor company’s shares slipped. Cisco unveiled plans for its new router. The daily chart is approaching the resistance. 
FEAR METER: The implied volatility inched higher.
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Approaching resistance
Investors showed little willingness to step back into the stock market after it advanced more than 3% last week. In addition to the light trade, action was also rather quiet and stocks spent most of the session stuck in a narrow range. Hewlett-Packard did disappoint with its downward revision of first quarter earnings. Research In Motion was a primary leader after it was upgraded. The NASDAQ index has managed to maintain a modest gain as large-cap tech issues like Cisco Systems provide support.
FEAR METER: The S&P 500 implied volatility remained low.
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Rallied on jobs report
Stocks spent the entire session in higher ground. The Nasdaq ended at an 18-month high. Apple gained 4% after the company said it would release its iPad tablet April 3. The S&P 500 index is approaching the resistance level.
FEAR METER: The S&P 500 implied volatility inched lower as large traders bet on the uptrend.
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Posted modest gains
Trade was subdued for most of the session ahead of the nonfarm payrolls report and a stronger dollar acted as an overhang. In other economic news, pending home sales fell 7.6% month-over-month. A 1.0% monthly increase had been expected.
FEAR METER: The QQQQ implied volatility inched lower as bearish momentum faded away.
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Finished Flat
The market erased early gains, as relief about the day’s economic news gave way to concerns about the job and manufacturing reports due out over the next two days. The Semiconductor Industry Association reported that worldwide semiconductor sales in January rose 0.3 percent from December. RIMM upgraded. More upside seen.
FEAR METER: The S&P 500 implied volatility little changed.
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