Tech giant Facebook crushed analyst estimates when it reported first-quarter results on Wednesday. The company reported adjusted first quarter earnings of 77 cents per share on revenue of about $5.38 billion. Analysts had expected Facebook to report earnings of about 62 cents per share on $5.26 billion in revenue, according to a consensus estimate from

In the last two weeks, we have gone from a bearish head and shoulders breakdown to a new relative high. The market has rallied almost 10% in that time and the momentum is very strong. Rising interest rates put the brakes on June’s rally and investors were concerned that the continuous supply of new bonds

A week ago a crack in the dam appeared when the market was not able to rally during option expiration. Stocks were at a major resistance level and option open interest favored buy programs. Any small catalyst would have sparked short covering–but it never happened. The market seemed very tired after a huge run and