I think this is the heaviest week of earnings reports so I don't want to put too much weight on any technical setups. But here's a quick look at the Nasdaq and S&P charts:

Once again I'll be focused on the earnings movers for day trades as well as trying to catch some of last week's big movers as they pull back and present swing entries.

Potential swing trades:

See one of the recent 'Chart Reading' posts for some potential swing candidates.

Potential day trades:

(From Briefing.com)

Gapping Down

Gapping Down: RDCM -9.4% (C.F.O. resigns); SLAB -7.5% (beats by $0.01, guides Q2 revs in line); NTBK -7.2% (sees Q1 tracking below low end of analysts' estimates); AMTD -5.2% (Ameritrade beats by $0.05; guides); XRX -5.0% (misses on EPS, revs, guides Q1 EPS in line); IACI -2.3% (Stifel downgrade); KNSY -2.2% (beats by $0.02, ex items; guides EPS in-line, revs below consensus); PEIX -2.0% (announces resignation of C.O.O.).

Gapping Up

I'll add Avici Systems Inc. (AVCI) to this list as well. It's up about 17% in the pre-market...

Gapping Up: HIV +25.0% (Receives South African Approval for HIV Rapid Test); FCSE +12.3% (raises their forecast); CCBI +11.5% (N.Y. Times reports WM to buy CCBI for $983 mln); WHRT +7.7% (FDA approves almost 50% reduction in size of RELIANT Destination Therapy trial); TZOO +5.3% (Added to IBD 100 List);  ALDN +5.71 (Earnings Report); ERS +4.2% (retains top spot in IBD 100); AIR +3.7% (Positive mention on Mad Money); CD +3.4% (confirms it will explore possible sale of Travel Distribution Services Division); GNBT +3.0% (announces that it has been granted a patent by the Mexico National Registry); CIEN +2.7% (announces a Denmark-based telecom infrastructure provider, has named co its preferred supplier status); CAT +1.8% (beats by $0.14; raises FY06 EPS guidance, reaffirms rev guidance); CNXT +1.8% (Selected by Humax for New HDTV Receiver).

Disclaimer & How I use this list