AA - post earnings jump

Alcoa actually had some moderately acceptable earnings results at the Tuesday close. A mere 10 cents profit per share, verses an expected loss of 4 cents. In the scheme of things, its still lousy, since we're supposedly in an economic 'growth phase'.

AA, daily

MACD cycle looks pretty good for 3-5 days up. Price target would be somewhere in the 10.50/75 range - to be achieved probably around opex. A move above the recent high, into the $11s would be VERY bullish, and is exactly the sort of thing the bulls will need to see if the market is to break to new highs, and to open up the ultimate target of sp'1550 sometime this summer.

Alcoa is certainly something to watch in the days ahead, but even though it posted a profit, there are far better companies out there.