Why are stocks moving back and forth at the speed of light but not really making any net progress? The answer is simple: the major indices are in a vacuum. Indeed, the S&P 500 (SPX) has oscillated violently between 4,835 and 5,500 since April 3. And, of course, prices are being pushed around by whatever the headlines of the day happen to be. Because the SPX basically crashed from 5,500 to 4,835 in only a couple of days, there is no chart support or chart resistance in this region. So price can move easily in the area with little or no technical restrictions to control the enormous volatility. Generally, this is a sign that the market is trying to trace out at least an intermediate-term "Hoover-style" bottom. On Friday, the SPX was able to push through the top of its April range after being rejected five times since April 9. We do not consider this move over 5,550 to be an official breakout; it was only by 25 points and we need to see some follow-through this week. If we get additional buying, it could open the door for a run to the 5,640 zone, which is a key 61.8% retracement of the correction. That is also the location of the falling 50-day average. The next important chart resistance is up at 5,770-5,780 from the high in late March and the low in mid-January. We did see some very encouraging breadth stats last week, which would suggest the correction is possibly over and the indices are heading to all-time highs. We had a rare Zweig Breadth Thrust, which, since 1950, has occurred 16 times. The SPX was higher six months and 12 months later on each occasion, with average returns of 16% (six months) and 24% (12 months). (Mark Arbeter, CMT)

In this edition, performance coatings priced for bargain hunters; tariffs change playbook on technology investments; replacing artificial food dyes unlikely to stain Packaged foods' prospects; and AbbVie, Intel, and Netflix. .

The wireless business contributes nearly 70% of AT&T’s revenue. The firm is the third-largest US wireless carrier, connecting 73 million postpaid and 17 million prepaid phone customers. Fixed-line enterprise services, which account for about 15% of revenue, include internet access, private networking, security, voice, and wholesale network capacity. Residential fixed-line services, about 11% of revenue, primarily consist of broadband internet access, serving 14 million customers. AT&T also has a sizable presence in Mexico, with 24 million customers, but this business only accounts for 3% of revenue. The firm has agreed to sell its 70% equity stake in satellite television provider DirecTV to its partner, private equity firm TPG.

The wireless business contributes nearly 70% of AT&T’s revenue. The firm is the third-largest US wireless carrier, connecting 72 million postpaid and 17 million prepaid phone customers. Fixed-line enterprise services, which account for about 15% of revenue, include internet access, private networking, security, voice, and wholesale network capacity. Residential fixed-line services, about 11% of revenue, primarily consist of broadband internet access, serving 14 million customers. AT&T also has a sizable presence in Mexico, with 23 million customers, but this business only accounts for 4% of revenue. The firm recently agreed to sell its 70% equity stake in satellite television provider DirecTV to its partner, private equity firm TPG.