Thursday, August 2, 2012

Stocks Edge Lower For Fourth Day...


One sector moved higher on Thursday… XLY, XLI, and XLU were the strongest sectors…

Jobs Report and the Unemployment report are released on Friday…

Breadth weakened as decliners led advancers 1.62 to 1 on the NYSE and 1.31 to 1 on the NASDAQ.

Exchange      NYSE    NASDAQ
Advancers     1,145        1,055
Decliners       1,866        1,390


Chart Patterns


Breakout:  GMCR

Gap Up:  GILD

Gap Down: ANF, GES, GS



Earnings of Interest Week July 30 – Aug 3

Tuesday: ADM, BMC, COH, XRAY, DB, FMC, KLIC, LIFE, MDC, VLO,
Wednesday: ICE, MA, WTW, YELP,
Thursday: ATVI, AIG, AVD, APA, DTV, HSIC, KFT, LBTYA, LNKD, MELI, MCHP, UPL, ZAGG,
Friday: AGU, NYX, BID


Technical Commentary:

FB fell for the fourth straight day…intraday low hit 19.82…closed at $20.04 losing 4%...

GMCR gained 4.75…up 26%...after earnings report…volume 34,500,000…

GILD gapped up showing strength in a down market…up 3.66…6.83%...on 29,400,000 shares…

ANF gapped down…closing at 29.06…down 4.96 or down 14.58%...volume 16,000,000…

GES gapped down… closed down1.72…or 5.73% to close at 28.29 on 1,498,000 shares…

GS likewise gapped down…closing at 97.81…down 2.28…on 3,900,000 shares…



Thursday Highlights:

The SPX moved down - 10.32 closing at 1,365.00 closing above its 30 DMA and above the 75% level of its April - July trading range of 1,422 – 1,266. 

ECB met and falters on coming up with any concrete steps to help secure the European debt crisis…Stocks extend losses into fourth day…

DJIA was down...71%...92 points…

SPX was down 10.32 points or .8% and closed at 1,365…

NASDAQ also down 10.44 points….4%... to 2,909.77…

Knight Capital Group, Inc…the largest US Trader of equities on Wall Street…in wake of yesterday’s trading glitch…finds itself in a loss of $440 million of the firm’s own capital…CEO reportedly mulls bankruptcy…


The Market Forecast green line is pointed up.


29 of 100 NDX stocks closed higher on Thursday…



Leading NDX 100 stocks included: GMCR, FSLR, GILD, CRMN, NUAN, SYMC, CMCSA, KAC, DLTR, PCLN, VRTX, BMC

Lagging NDX stocks included:  FLEX, FOSL, FFIV, PCAR, TEVA, DELL, EA, DTV, RIMM, APOL, LRCS, FISV, LIFE, SIRI, WYNN, MU


Leading stocks > +2% on Thursday included: CRUS

Losing stocks < -2.0% on Thursday included:  ANF


Stocks to Watch on Friday…

Holding Above 30 DMA = 28
URE, MOS, CHL, SLB, TLT, WDE, UCO, TPX, SWK, TIF, DLR, GS, JNPR, RVBD, SWI, CIEN, CROX, CRUS, DHR, HLF, IBM, SMH, SWKS, V, VECO, FCX, X, CREE

Moving Above 30 DMA = 1
DE

Moving Below 30 DMA = 7
A, ANR, C, FAS, GES, VNW, ZAGG

Staying Below 30 DMA =
RCL, COH, NKE, ICE JDSU, STI, FAZ, LNKD, ATI, CRM, TSLA, CMG, DECK, ESI, ZION, BAC, UAL, FB, AKS, CSTR, LDK, MCP, CLF, GLW, INFA, NTS, TSL, CDE, TBT, SOHU, HUM, SINA, F, GRPN, ANR, LVS


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

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