- Technical Market Commentary -

December 22, 2010 (FinancialWire) (By Frank Kollar) (Go to http://www.financialwire.net/?s=cmmtry for all recent commentaries.) — Shares of Carnival Corp. (CCL – NYSE) broke out to new 2010 highs and have now reached their highest level since December 2007. Carnival rallied on a better than expected fourth-quarter earnings report. Earnings rose 29% as the cruise ship company benefited from improving demand. The stock rose 4.3% in heavy volume, closing at $45.18.

New highs are always bullish, but considering the economy is only just starting to get back on its feet, there could be a great deal of continued good earnings results in future months. The short term target for this advance is $47.95. If this level is surpassed, traders can look for Carnival shares to reach as high as $52.71 over coming months.

The FirstAlert(tm) “Money Index” is an indicator of the depth of market direction or indirection. While not always including the same stocks, the combined NYSE, AMEX and NASDAQ 25 most actives and combined NYSE, AMEX and NASDAQ greatest percentage losers and greatest percentage winners (weighted against pure monetary loss/gain) indicate the direction in which the mass of money is flowing, as well as the general focus of the market. Go to http://www.financialwire.net/2010/09/23/vol-ldr-rsrch-21/ for today’s NYSE-AMEX-NASDAQ summary.

The FirstAlert(tm) Morning Digest lists economics calendar events, earnings announcements, financial community conferences, company presentations and more. Go to http://www.financialwire.net/2010/12/22/prcnt-wnnr-rsrch-18/ for today’s The FirstAlert(tm) Morning Digest summary.

(Go to http://www.financialwire.net/2010/05/01/about-kollar/ for more about Mr. Kollar, and go to http://www.financialwire.net/?s=kllrfby for more of Kollar’s commentaries.)

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