The
SPY fell again on a
weaker Euro, falling interest rates and financial stocks and
rising bonds. The SPX closed at 1,304
just above its 1,300 support area.
Reports indicate that FB will go public at 38 on
Friday and start trading at 11:00 am EDT.
IPO trading is generally very speculative with a lack of historical
trading activity.
All nine sectors moved lower on Thursday. XLU, XLE, and XLP were the strongest sectors.
Breadth
weakened as decliners led advancers 6.34 to 1 on the NYSE
and 4.06 to 1 on the NASDAQ.
Exchange
NYSE NASDAQ
Advancers 420
497
Decliners 2,665
2,019
SPY moved down 51 cents on 207 million shares…
AAPL
was down -7.09
to 546.07 on 20 million shares...
HLF
+7.07, +16.66% following Einhorn rumors...
SPLS
-0.84, -5.69% following earnings Wednesday morning
DLTR,
ROST and SHLD report earnings
this week.
Technical Commentary:
At
Midday the SPY fell to 131.50, bounced and rose to 132.25 and then fell and
broke the 131.50 support and moved to its break of support target at 130.75.
The
Euro fell another 33 pips to close at 1.2681. TNX fell to a new all-time low at
17.02.closed 0.12 lower, at
its lowest level since October 4, 2011. JPM collapsed -1.53. The VIX rose 2.22 to 24.49 its
highest close since Dec 15. The
VIX is near the critical 25 pivot level.
The
Euro continues to fall in overnight
trade. The failure of the Euro to find support has been a contributing
factor in the fall of the broad market.
XLF
closed down 29 cents.
6 of 100 NDX stocks closed higher on Thursday…
Leading NDX 100
stocks included FSLR, CTRP, GOLD, RIMM, SHLD, AKAM
Lagging NDX stocks included
ORLY, SIRI, DLTR, STX, SPLS, PNRA, EXPE, LINTA, BBBY, BIDU
Leading stocks > +2% on Thursday included FAZ, NTES
Losing stocks < -2.0% included HLF, TSL, LNKD, ANF, UAL,
FAS, TPX, PCX, LDK, CROX, URE, SINA, CIEN, GRPN, SWKS, ATI, GES, SWK, WDC, DLR,
MCP, AKS, RCL, TBT, COH, TIF, CLF, CREE, JDSU, LVS, NKE, CMG, STI, MOS, SOHU,
V, ZAGG, TSLA, CRM, ZION, RVBD
Stocks to Watch on Friday
Holding
Above 30 DMA = 6
TLT,
CRUS, SWI, VECO, FAZ, GRPN
Moving Above 30 DMA = 1
NTES
Moving Below 30 DMA = 2
LNKD,
UAL
Staying
Below 30 DMA
CHL,
LDK, URE, CREE, TSL, STI, WDC, DLR, NTES, NKE, ATI, ANF, AGI, ZAGG, CRM, FCX,
IBM, SLB, CMG, DHR, ESI, FAS, FCX, SMH, SWKS, TIF, UCO, V, AKS, ANR, JNPR, X,
HLF, SOHO, DECK, HUM, CROX, LVS, FAZ, CIEN, PCX, RCL, RVBD, CLF, MCP, SWK, TPX,
X, ZION, INFA, BAC, A, TBT, F, JDSU, C, GS, TSLA, COH, GRPN, MOS, ICE, SINA,
GES, CDE
Eight
Week Intermediate Term Market Trend:
Down
Short Term Market Trend: Down
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