Monday, November 21, 2011

SPX Closes Below 1,200 Following EU Weakness...

All nine sectors moved lower on Monday.  XLU -1.24%, XLY -1.56% and XLP -1.61% were the strongest sectors.

The Euro was down 33 pips to 1.3490 at 5 pm EDT on Monday.  TLT was up 71 cents.  Financials XLF was down 31 cents.

The broad indexes moved lower with the RUT -2.44%, INDU -2.11%, COMPQ -1.92%, NDX -1.90% and SPX -1.86%.  The SPX moved down -22.67 to close at 1,192.98.

The VIX moved up +0.91 to 32.91.

AAPL, AMZN, BIDU, GOOG, PCLN and QCOM moved lower on Monday.

Breadth weakened as decliners led advancers 5.83 to 1 on the NYSE and 4.88 to 1 on the NASDAQ.

Exchange         NYSE        NASDAQ
Advancers           447              436
Decliners          2,607            2,132       

Leading stocks > +2% on Monday FAZ, NVDA, ZAGG

Losing stocks < -2.0% included SINA, GRPN, ARUN, TPX, FAS, ENTR, HLF, BAC, WLT, C, URE, AKS, TIF, X, JDSU, KKD, CIEN, IL, CROX, ANR, CRUS, UNP, CREE, PCX, LVS, TSL, NTES, FFIV, JNPR, ZION, GLW, HAL, CDE, CAT, INFA, DLR, LNKD, A, ATI, CLF, DOW, CSTR, SNDK, ICE, VECO, STI, SWKS, UAL, LDK, SWK, SLW, DHR, SMH, RVBD, FCX, DE, ESI, POT, IBM

NDX 100 stocks stronger than the NDX included NVDA, GMCR, SIRI, HSIC, XRAY, ROST, STX, URBN, ALXN and CTRP.

Stocks weaker than the NDX include GILD, NFLX, RIMM, FSLR, WYNN, AMZN, INFY, PCLN, LRCX and EBAY.

Eleven NDX stocks ADSK, CTXS, ESRX, GOOG, INTC, ISRG, JOYG, and MXIM   moved below their 30 DMA leaving 14 NDX stocks above the 30 DMA. 

Stocks to Watch on Tuesday
Holding Above 30 DMA = 12
FFIV, UNP, SWK, NGLS, CAT, DLR, UCO, GLW, HUM, FAS, TLT, FAZ
Moving Above 30 DMA = 0

Moving Below 30 DMA = 13
A, AKS, CHL, CLF, DE, IBM, INFA, NDAQ, NTES, RVBD, SWK, TIF, X
Staying Below 30 DMA
CIEN, HAL, JDSU, JNPR, LVS, SLB, SNDK, VMW, ANR, ARUN, CF, COH, CREE, CRM, CRUS, DHR, FCX, KKD, NKE, SLW, SMH, SWN, URE, V, WLT, CMG, DECK, DOW, HLF, ICE, NVDA, PCX, TPX, GES, LDK, MOS, RCL, VECO, C, ENTR, FWLT, GS, SOHU, STI, ZION, MCP, TSL, BAC, CSTR, F, IL, POT, SINA, SWKS, WDC, ZAGG, LNKD, ANF, ESI, TBT, UAL, CROX, FAZ, GRPN

Seven Week Intermediate Term Market Trend: Netural
Short Term Market Trend: Down