SPX Pauses Following Another Volatile Week...

Check out Dave on tastytrade on Friday at the 122:00 listing, Click here:  https://www.tastytrade.com/#/videos/20111104-fullshow


All nine sectors moved lower on Friday. XLE -0.08%, XLB -0.23% and XLY -0.37% were the strongest sectors.

The Euro was down 28 pips to 1.3792 at 5 pm EDT on Friday.  TNX closed down -0.16 at 20.66.  TLT was up 14 cents.  Financials XLF was down 18 cents.

The broad indexes moved lower with the COMPQ -0.44%, NDX -0.48 %,  INDU -0.51%, SPX -0.63% and RUT -0.67%.  The SPX moved down -7.92 to close at 1,253.23.  Stocks paused in their support bounce on Friday closing above Thursday’s S1 on the SPX.  This is generally bullish continuation.

(click image to enlarge)

During this past week many stocks gave support bounce or bull flag entry signals.  As shown above each of the broad indexes gave the signal on Thursday before pausing on Friday.  Below the four stocks HON, X, MOS and HAL with bull flag setups that we alerted readers to Monday through Wednesday each gave entry signals.

(click image to enlarge)

 

The VIX moved down -0.34 to 30.16.  The VIX did not confirm the move down in the SPX.

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

Breadth weakened as decliners led advancers 1.55 to 1 on the NYSE and 1.75 to 1 on the NASDAQ.

Exchange        NYSE        NASDAQ

Advancers       1,160              903

Decliners         1,798           1,586          

Leading stocks > +2% on Friday VECO, CREE, SWKS, GMCR, X, MCP, AKS, ATI, FAZ, ANR, LDK, TSL, PCX, FFIV, IL, ARUN, CRUS

Losing stocks < -2.0% included ENTR, BAC, LNKD, FAS, GS, ZION

NDX 100 stocks stronger than the NDX included ILMN, SBUX, STX, GMCR, MCHP, ERTS, FSLR, ESRX, FFIV and MRVL.

Stocks weaker than the NDX include WCRX, NFLX, CMCSA, TEVA, DTV, MYL, DELL, INTC, ORCL and VMED.

Three NDX stocks BRCM, ILMN and SIRI moved above their 30 DMA making 78 NDX stocks above the 30 DMA. 

Stocks to Watch on Monday

Holding Above 30 DMA = 77

IBM, ARUN, DECK, FFIV, SNDK, F, NKE, COH, ENTR, UNP, DHR, DOW, SMH, SWK, TIF, TPX, VMW, C, JNPR, NGLS, RCL, ZAGG, CAT, DLR,  HLF, SWN, NTES, WLT, RVBD, SLB, UCO, AKS, FAS, GLW, GS, ZION, A, BAC, CIEN, URE, ATI, CF, CMG, DE, FCX, GES, HUM, ANR, HAL, PCX, STI, CDE, CLF, CRUS, MCP, SLW, SOHU, TSL, CRM, JDSU, LDK, LVS, X, IL, INFA, MOS, NDAQ, V, WDC, CREE, ICE, KKD, NVDA, POT, SINA, SWKS

Moving Above 30 DMA = 1

VECO

Moving Below 30 DMA = 3

CHL, CSTR, LNKD

Staying Below 30 DMA

ANF, TLTL, FWLT, ESI, TBT, UAL, CROX, FAZ, GMCR

Five Week Intermediate Term Market Trend: Up

Short Term Market Trend: Up