Stocks Rise, Gold and Oil Fall

DJIA + 58.70, +0.72% SP500 + 9.14, +1.09% NASDAQ Comp. + 15.44, +1.04% Russell 2000 + 5.52, +1.23% Exchange NYSE NASD Advancing 2,579 1,729 Declining 1,169 1,047 Oil $41.58 -$4.15 Gold $899.50 -$9.30 SOX 217.28 +7.39 VIX 42.25 -3.44 The VIX moved down confirming the rise in the SPX on Tuesday. Strongest Sectors: XLF +3.51%...XLV +2.08%...XLI +1.82% Weakest Sectors: XLY -0.30%...XLE +0.17%...XLk +0.60% Sector Watch Up Trending: Sideways: XLE, XLP, XLU, XLY, XLV, XLI, XLB, XLK Down Trending: XLF Today was a classic example of the “bad new was good news” that we have spoken about in the past. AXP which missed analysts estimates yesterday by one cent rose 9.74% today and was the strongest stock in the Dow. Apparently, traders were relieved the news was not worse than it was. Another great example that it is not the news, rather how the market decides to interpret the news that counts. Financial stocks were the strongest sector on Tuesday with regional bank ZION rising +15.5%, insurance companies AFL +12.84% and TRV +6.15%, banks BAC +8.33%, C +6.61%, WFC +4.59% and USB +5.3%. Steel stocks STLD +15.04%, NUE +6.25%, SCHN +7.24% and X +6.89% moved higher. Semiconductor stocks were also strong: NVLS, MRVL, XLNX, NSM, ALTR, LLTC, TXN Index Commentary The DJIA formed a spinning top that further confirmed Friday’s hammer…short-term resistance still 8,250 The SPX formed an inside day that further confirmed Friday’s hammer…short-term resistance still 860. The Nasdaq formed a white spinning top…short-term resistance 1,525. The RUT formed a white spinning top…short-term resistance 468. Earnings Tuesday, Jan 28: AKS -3.88 below +0.02 estimates BMY +0.46 beat + 0.41 est. CHKP +0.50 beat + 0.47 est. DAL -0.50 below + -0.34 est. DD -0.28 below -0.24 est. EMC +0.24 beat +0.23 est. ENR +1.93 beat +1.73 est. HSY +0.59 beat +0.54 est. KCI +0.98 beat +0.85 est. LXK +0.75 inline +0.75 est. NUE +0.34 beat +0.13 est. BTU +1.11 beat +0.74 est. STJ +0.60 beat +0.58 est. TRV +1.58 beat +1.46 est. X +2.00 beat +0.71 est. ALTR +0.28 beat +0.27 est. AMLN -0.36 beat -0.49 est. BBOX +0.88 beat +0.82 est. CHRW +0.52 inline +0.52 est. DV +0.59 inline +0.59 est. GILD +0.56 beat +0.55 MOLX +0.20 beat +0.14 est. NSC +1.21 beat +1.18 est. STM -0.06 below +0.03 est. SYK +0.74 inline +0.74 est. JAVA 0.15 beat -0.10 est. WBSN +0.31 beat +0.29 est. YHOO +0.17 beat +0.13 est. Numbers exclude non-recurring items. Wednesday, Jan 29 BMO – T, BHI, BDX, BA, COP, GLW, GD, HES, LM, PM, PJC, PX, USG, WLP, WFC AMC – ARG, ALL, CTXS, KEX, LRCX, MTW, OI, QCOM, SBUX, WDC Thursday, Jan 30 BMO – MMM, ALK, BUD, AZN, BDK, CELG, CHTT, CL, CNX, CAL, EK, LLY, F, HP, JBLU, LLL, ERIC, OXY, RTN, TROW, UA, LCC AMC – AMZN, BRCM, BCR, CA, DRIV, JNPR, KLAC, MXIM, MCHP, VAR Friday, Jan 31 BMO – AME, ACI CVX, XOM, HON, IVZ, KLIC, FSTR, PCAR, PG Stocks to Watch on Wednesday Leading Stocks: Holding Above 30 DMA JOSB…BCO…ROST…ESI…JW.A…MYGN…AMED…BCR…MON…RIMM…SYNA…BLUD…AME…APH…DLTR…DV…STRA…AYE…K…PCP…AET…GES…GME…HP…IIVI…NE…RIO…SWN…URBN…POT…ATW…CAM…CTSH…MOS…NIHD…NOV…RIG… AAPL…BIIB…GIS…JCOM…WCG Moving Above 30 DMA = 5 ATK…CHTT…DNA…HLF…VAR Moving Below 30 DMA = 2 LAYN, RTN Staying Below 30 DMA CCC, AGN, GILD, ICLR, TEVA, CERN, FLIR, MTD, QSII, CIR, JEC, KEX, OSIP, PCLN, PCR, PETS, SHW, SPN, TECH, UTX, BAP, NGS, ACL, AMZN, BYI, CL, FLS, FWLT, HDB, LNN, OI, ADBE, AMX, CBST, DECK, FLR, MBT, SNA, VMI, WMS, AFAM, EPR, FSTR, HAS, LFC, MMM, MTW, NEU, RCI, SOHU, VIP, MCRS, NDAQ, ANSS, CHU, EXPW, NILE, PSSI, PSYS, VIVO, WAB, CELG, ENDP, IRIS, ISRG, SPTN, ESRX, PPD, PRGO, SINA, AXYS Tuesday’s Action Moving Up: GS, MA, BTU, SCHN, X, NUE, FSLR, ZION, CNX, V, AFAM, ANR, ESRX, HANS, CLF, MS Moving Down: AEM, ONXX, SOHU, UAUA, LCC, CF, PNRA Intermediate Term Market Trend: Neutral – DJIA, SPX, Nasdaq, RUT Short Term Market Trend: Neutral