Wednesday, April 22, 2009

Stocks End Mixed...

DJIA - 82.99, -1.04% SP500 - 6.53, -0.77% NASDAQ Comp. + 2.27, +0.14% Russell 2000 + 0.66, +0.14% Exchange NYSE NASD Advancing 2,005 1,435 Declining 1,699 1,307 Oil $48.85 +$0.30 Gold $892.10 +$9.70 SOX 251.08 +10.42 VIX 38.10 +0.96 The VIX moved up and did confirm the move down in the SPX on Wednesday. Strongest Sectors: XLI +1.55%...XLY +1.00%...XLK +0.48% Weakest Sectors: XLF -3.58%...XLP -1.33%...XLV -1.08% Five of nine Sectors moved lower on Wednesday. Industrials, Consumer Discretionary, Technology and Materials were stronger than the SPX. Financial stocks weaker than XLF, -3.58% include: KEY, MS, USB, ALL, ICE, SPG, TRV, BK, STT, PNC, BAC, PRU, RF, AFL, MET, ZION, CME, CB, NTRS and ETF’s UYG and FAS. The Tech Sector XLK was up +0.48%. Leading tech stocks stronger than XLK +0.48%: EBAY, AMAT, TXN, INTC, EMC, T, SYMC, ADBE, DELL, YHOO and GOOG. On Tuesday we wrote; “The SOX +0.20%, was weaker than the SPX, not a sign of strength on Tuesday. Generally the SOX is a leader in a rally, however there have been times in recent weeks where it was weak on a strong rally day and then the next day it outperformed the market.” Did you notice on Wednesday that the SOX moved up 10.42 points or +4.33% while the SPX moved down? Sector Watch Up Trending: Sideways: XLE, XLY, XLV, XLK, XLB Down Trending: XLF, XLP, XLI, XLU Index Commentary The DJIA formed a spinning top…closed below 20 DMA…volume was 387 million shares…closed above its 30 and 50 DMA. The SPX formed an inverted hammer…closed above its 20, 30 and 50 DMA. The Nasdaq formed a white inverted hammer bullish engulfing pattern…closed above its 20, 30 and 50 DMA. The RUT formed a white inverted hammer…closed above its 20, 30 and 50 DMA Check out these bull flag breakouts from our At the Open list
(click image to enlarge)
At the Open on Thursday SPY – inverted hammer DECK – spinning top SNDA – black spinning top EBAY – bull flag breakout SCHN – shooting star GME – spinning top at 200 DMA SHLD – spinning top at 200 DMA ADS – black spinning top in bull flag STT – black spinning top above S1 AG – bull flag breakout XRT – white candle USD – support bounce break high of low day URE – bullish engulfing WYNN – bull flag breakout LEAP – inverted hammer ISRG – large white candle horizontal breakout Stocks to Watch on Thursday Leading Stocks Holding Above 30 DMA BIDU, CLB, NFLX, DLTR, ICE, ALGT, DLB, JEC, PWR, VPRT, AMZN, USD, AAPL, CTSH, AXYS, BAP, CAM, GMCR, GPRO, JCOM, JOSB, ATW, GR, SYNA, EBAY, GES, SNA, ORCL, WRC, DECK, HDB, PCP, UYG, FSLR, GME, WCG, RIMM, X, BDX, BYI, CBST, EZPW, HLF, AMX, MHS, WAB, FAS, AFAM, CHL, JW.A, K, RBN, ESRX, PCLN, URE, VAR, PCR, PPD, HANS, PETS, SWN, MCD, CPLA, AMED, FLS, SNHY, SPWRA, JOYG Moving Above 30 DMA = 3 GILD, GXDX, TDG Moving Below 30 DMA = 2 MCD, CBST Staying Below 30 DMA MYGN, STRA, DV, MUR, SLGN, TDG, NIHD, BIIB, MOS, NTLS, RCI, MON, WMT, GILD, BKC, APEI, BLUD, ESI, GXDX, ACN, PSYS Intermediate Term Market Trend: Neutral Short Term Market Trend: Neutral

1 comment:

Eric said...

Dave,

Hammer on the FAZ? On confirmation tomorrow, I'm jumping in. What say you?

Thanks,
Eric