All nine sectors moved lower on Monday. XLU -0.41%, XLP -0.68% and XLK -1.58% were the strongest sectors.
On Monday the Euro was down 140 pips to 1.3738. TNX was down -0.77 to 21.55. TLT was up +1.97. Financials XLF was down 39 cents.
IBM -7.44, -3.99% afterhours, announced earnings after the close on Monday of 3.19 vs. estimates of 3.22 were up 7% from a year earlier, revenues of $26.16 billion vs. estimates of 26.26 billion were affected by a stronger dollar. IBM increased 2011 forecast.
SWK beat estimates.
STLD EPS in line, revenues beat.
CROX lowers guidance after the close and shares fall -9.40 or -35.29%.
Oct 17 – 21 Earnings Highlights of Interest:
Monday – C, HAL, HAS, IBM, SWK, STLD, VMW, WFC
Tuesday – AAPL, BAC, CHKP, CREE, CSX, INTC, ISRG, JNJ, JNPR, LLTC, STT
Wednesday – AXP, AMR, APOL, CRUS, EBAY, FCX, LRCX, RVBD, TRV, UAL, UTX, WDC, WYNN, XLNX
Thursday – ALXN, ALTR, T, CY, FLEX, INFA, ESI, KELY, MXIM, MSFT, PCX, SNDK, ST, TPX
Friday – MCD, SLB, STI, VZ
The broad indices moved lower with the RUT -3.35%, INDU -2.13%, COMPQ -1.98%, SPX -1.94% and NDX -1.58%. The SPX moved down -23.72 and closed at 1,200.86. The VIX moved up +5.15 to 33.39.
AAPL, AMZN, BIDU, GOOG, PCLN and QCOM all moved lower on Monday.
AAPL, AMZN, BIDU, GOOG, PCLN and QCOM all moved lower on Monday.
(click image to enlarge)
Many stocks on Monday broke the low of the high day which was on Friday. As a result many bear flag entry signals occurred on down trending stocks including: ANR, ATI, CDE, DF, CHL, CIEN , IL
The start of a potential bull flag occurred on many up trending stocks including: CRUS, CSTR , DE
Breadth weakened as decliners led advancers 4.30 to 1 on the NYSE and 4.48 to 1 on the NASDAQ.
Exchange NYSE NASDAQ
Advancers 571 463
Decliners 2,456 2,076
Leading stocks > +2% on Monday FAZ
Losing stocks < -2.0% included VECO, PCX, CREE, GMCR, FAS, HAL, CLF, WDC, KKD, WLT, ANR, X, TSL, ESI, LNKD, JDSU, CDE, JNPR, LDK, FWLT, SWKS, SINA, ATI, STI, NVDA, MCP, AKS, ZION, CIEN, SLB, URE, GLW, ZAGG, MOS, FCX, CRUS, RCL, ENTR, DOW, GES, INFA, CRM, VMW, CSTR, CF, TBT, POT, IL, FFIV, SWK, DHR, ANF, CAT, RVBD, V, UNP, TIF, HLF, ARUN, BAC, COH, DE, SOHU, UAL, SLW, NDAQ, NKE, IBM
NDX 100 stocks stronger than the NDX included SHLD, NFLX, COST, TEVA, WYNN, ILMN and GRMN.
Stocks weaker than the NDX include GMCR, VRTX, RIMM, CERN, FSLR, NVDA, MU, MRVL, STX and WCRX.
Seven NDX stocks including ALTR, APOL, CERN and MRVL moved below their 30 DMA making 74 NDX stocks still above the 30 DMA.
Stocks to Watch on Tuesday
Holding Above 30 DMA = 46
IBM, ARUN, DECK, FFIV, ICE, INFA, SNDK, CRUS, CSTR, F, NDAQ, NKE, ANF, COH, ENTR, NVDA, UNP, CRM, CROX, DHR, DOW, SMH, SWK, TIF, TPX, UAL, V, VMW, C, JNPR, NGLS, RCL, ZAGG, CAT, CMG, DLR, GES, HLF, LNKD, SWKS, SWN, NTES, WLT, RVBD, SLB, UCO
Moving Above 30 DMA = 0
Moving Below 30 DMA = 16
AKS, CIEN, CREE, ESI, FAS, FWLT, GLW, HAL, HUM, LVS, POT, SINA, STI, TBT, WDC, ZION
Staying Below 30 DMA
A, TLT, FAZ, GMCR, CHL, IL, JDSU, SLW, DE, URE, ATI, CF, KKD, MOS, CDE, CLF, MCP, PCX, SOHU, TSL, BAC, VECO, LDK, FCX, GS, ANR, X
Ten Week Intermediate Term Market Trend: Neutral
Short Term Market Trend: Neutral
1 comment:
Dave:
Special thanks for pointing out potential Bull and Bear Flags.
I sometimes need additional "eye" training on charts.
Thanks much.
Robert
CANI_212
PS: Are you scheduled to teach the Adv Tech in Detroit next week?
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