Thursday, July 19, 2012

SPY Inches Higher at Horizontal Resistance...

Six of nine sectors moved higher on Thursday. XLB, XLK, and XLY were the strongest sectors.


Breadth weakened as advancers led decliners 1.07 to 1 on the NYSE and decliners led advancers 1.27 to 1 on the NASDAQ.

Exchange     NYSE    NASDAQ
Advancers    1,551      1,094
Decliners      1,439      1,393


SPY moved up 36 cents to 137.73 on 129.8 million shares, closing above its 30 DMA for the seventeenth consecutive day. The SPX moved up +3.73 at 1,376.51.

The Market Forecast green line is pointed up in the upper reversal zone.

AAPL up 8.06 at 614.22 on 15.6 million shares...

FB down -11 cents at 29.00 on volume of 13.7 million shares...

GRPN +33 cents, +4.67% at 7.40


Earnings Week July 16 - 20
Tuesday:KO, CSX, GS, MAT, MOS, STT, WYNN, YHOO
Wednesday:AXP, BAC,EBAY, FFIV, IBM, MLNX, QCOM, SWKS, SWK, USB, XLNX, UAL
Thursday: AMD, ALGN, COF, CMG, DHR, FCX, GOOG, ISRG, KEY, MSFT, MS, NUE, PM, SNDK, LUV, STLD, UNP, UNH
Friday: GE, SLB, STI


Technical Commentary:
GOOG +16.14, +2.72% after reporting earnings after the close...




Thursday Highlights:
SPY closes up 36 cents
The Euro moved down -2 pips, closed at 1.2279
TNX +0.36 at 15.15
VIX down -0.71 at 15.45
XLF down 9 cents at 14.60


66 of 100 NDX stocks closed higher on Thursday…

KFT will be added to the NDX 100 the morning of July 23 replacing CTRP.

Leading NDX 100 stocks included EBAY, EA, AVGO, FOSL, BRCM, FSLR, QCOM, FFIV, AMZN, ADSK

Lagging NDX stocks included MNST, VRTX, XLNX, WFM, APOL, PAYX, GMCR, STX, ATVI, WCRX


Leading stocks > +2% on Thursday included SWKS, TPX, CIEN, CRUS, UCO, LVS, COH, GRPN, SWK, GES, FCX, JNPR, RVBD, LNKD, IBM, TIF, CRM, JDSU, VMW, SINA, CLF, AKS, CROX, INFA, FAZ, ZAGG, CDE, ESI

Losing stocks < -2.0% included DLR, BAC, UAL, FAS, ANR, CSTR, WDC, STI


Stocks to Watch on Friday
Holding Above 30 DMA = 26
ICE, HLF, URE, MOS, V, CHL, FAS, STI, ANF, ATI, SLB, TSLA, TLT, WDC, LNKD, UCO, GS, TPX, ZION, CMG, CREE, CRM, DECK, SWK, TIF, VMW

Moving Above 30 DMA = 14
CIEN, COH, CRUS, ESI, FCX, GES, IBM, JNPR, RCL, RVBD, SMH, SWKS, X, ZAGG

Moving Below 30 DMA = 2
DHR, DLR

Staying Below 30 DMA
BAC, C, DE, UAL, FB, VECO, AKS, CSTR, RCL, JDSU, LDK, MCP, CLF, CROX, GLW, INFA, NTES, SWI, TSL, A, C, CDE, SOHU, TBT, HUM, SINA, F, GRPN, FAZ, NKE, LDK, ANR, LVS


Six Week Intermediate Term Market Trend:Up
Short Term Market Trend: Up

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