Thursday, November 10, 2011

SPX Holds Support, Forms Bullish Harami...

All nine sectors moved higher on Thursday. XLE +1.74%, XLV +1.42% and XLI +1.22% were the strongest sectors.

The Euro was up 64 pips to 1.3605 at 5 pm EDT on Thursday.  TNX closed was up +1.01 at 20.56.  TLT was down -1.76.  Financials XLF was up 6 cents.

The broad indexes moved higher with the INDU +0.96%, RUT +0.92%, SPX +0.86%, COMPQ +0.13%, and NDX -0.09 %.  The SPX moved up +10.60 to close at 1,239.970.  The SPX held support and formed an inside day.

The VIX moved down -3.35 to 32.81.

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

Breadth strengthened as advancers led decliners 1.99 to 1 on the NYSE and 1.67 to 1 on the NASDAQ.

Exchange        NYSE        NASDAQ
Advancers       1,815           1,574
Decliners           912              940          

Leading stocks > +2% on Thursday LDK, UCO, RVBD, SWN, TBT, CRUS, ATI, GLW, HAL, A, CIEN, UNP

Losing stocks < -2.0% included GMCR, IL, TSL, LVS, ZAGG, UAL, CROX, SWKS, DECK, MCP, BAC, CMG

NDX 100 stocks stronger than the NDX included CSCO, VRTX, SIRI, NIHD, MRVL, CMCSA, ERTS, NWSA, STX and FAST.

Stocks weaker than the NDX include GMCR, WYNN, NFLX, MU, BBBY, RIMM, LINTA, AAPL, ILMN and JOYG.

Nine NDX stocks including DTV, ERTS, LRCX, MRVL and NVDA moved above their 30 DMA making 69 NDX stocks above the 30 DMA. 

Stocks to Watch on Friday
Holding Above 30 DMA = 51
FFIV, SNDK, NKE, COH, UNP, DHR, DOW, SMH, SWK, TIF, TPX, VMW, JNPR, NGLS, RCL, CAT, DLR,  SWN, RVBD, SLB, UCO, AKS, GLW, A, CIEN, URE, ATI, CF, CMG, DE, FCX, HUM, ANR, HAL, PCX, CDE, CLF, MCP, SLW, CRM, JDSU, LDK, LVS, X, INFA, MOS, NDAQ, V, CREE, KKD, VECO
Moving Above 30 DMA = 5
CRUS, FAS, IBM, ICE, NVDA
Moving Below 30 DMA = 6
ARUN, DECK, HLF, TLT, TSL, WLT
Staying Below 30 DMA
BAC, C, CHL, CSTR, ENTR, F, FWLT, GES, GS, IL, NTES, POT, SINA, SOHU, STI, SWKS, WDC, ZION, ZAGG, LNKD, ANF, ESI, TBT, UAL, CROX, FAZ, GMCR

Five Week Intermediate Term Market Trend: Up
Short Term Market Trend: Neutral