Wednesday, September 12, 2012

Euro Rises, SPY New High Close, FB Jumps on Heavy Buying...

Six of nine sectors moved higher on Wednesday…XLE, XLK and XLY were the strongest sectors. 

Breadth was stable on Wednesday as advancers led decliners 1.89 to 1 on the NYSE and 1.48 to 1 on the NASDAQ… 

Exchange      NYSE    NASDAQ 


Advancers     1,962       1,464
Decliners       1,037          988

VIX down -0.61 at 15.80
Euro up 43 pips at 1.2899
TNX up 0.70 at 17.65
TLT down -1.54 at 122.01…
XLF up 6 cents at 15.74…
Gold down 1.10 at 1733.60
Oil down 6 cents at 96.89

AAPL up 9.20 at 669.79volume 25.4 million shares
FB up 1.50 at 20.93… volume 121.5 million shares…


The Market Forecast green line is in the upper zone.


YTD At a Glance
                    Wednesday         YTD

SPY                +0.33%          +16.15%

AAPL              +1.39%          +66.09%
EXPE              +0.80%          +88.20%
STX                 -0.37%           +86.34%
EBAY              -0.70%          +58.23% 

Technical Commentary: The Euro its trend to higher levels which bodes well for U.S. stocks.   Interest rates finally played some catch-up and bonds fell again.  XLF rose as C, ZION, STI, MS and GS made solid gains.  The SPY moved up 48 cents with many individual stocks (Leading list below)doing much better including FB +7.73% on 121.5 million shares, it’s largest daily volume for an up day since its first day of trading, a real sign that buyers are back.

Check out Setups below.

Last week’s breakouts continue to indicate that higher prices are likely on the way.

New Chart Targets
SPY = 144.92 1.61 Fib, 146.05 S&R Measuring
ES = 1,443.50 1.61 Fib, 1,455.00 S&R Measuring
Eur/Usd = 1.3095 1.60 Fib, 1.3345 S&R Measuring.

Short-term support at
143.09, 140.22, 139.80 = SPY
1,424.75, 1,403, 1,395 = ES
2,802.50, 2,750, 2,743 = NQ

Setups:
Flag/Pennant:  SWI, CRUS, SWKS, TIF, COH, SCHN, STX, ESRX, PAYX, ORCL, LINTA, GOOG, EBAY, ALTR, LLTC, AKAM, LIFE, AMZN, VRSN, BMC

Breakout:  MCP, BTU, AKS, ANR, WLT, ACI, JRCC

30 DMA Potential Breakout: HLF, WDC, ZAGG, SMH, TSLA, A

MACD Bullish Divergence: NTES


Wednesday Bounce: FB, JNPR, SOHU, LNKD, ZION, STI, UNG,


47 of 100 NDX stocks closed higher on Wednesday…


Leading NDX 100 stocks included: SHLD, PNRA, FSLR, GRMN, WYNN, FFIV, MU, YHOO, SPLS, CTSH

Lagging NDX stocks included: MNST, GMCR, SIRI, BIDU, CERN, ADP, LIFE, PAYX, FOSL, MRVL


Leading stocks > +2% on Wednesday included: FB, TSL, ANF, JNPR, SOHU, ESI, UAL, TBT, TPX, ZION

Lagging stocks < -2.0% included: CSTR, CLF 

Stocks to Watch on Thursday…
Holding Above 30 DMA = 53 
UCO, TPX, GS, RVBD, SWI, CROX, CRUS, CREE, C, FAS, FCX, JDSU, NKE, RCL, STI, TIF, BAC, CDE, CRM, SINA, SOHU, F, ZION, ANF, INFA, ICE, LVS, LNKD, HUM, URE, COH, GLW, CSTR, MOS, UAL, CMG, DE, DHR, ESI, IBM, SWK, TBT, VMW, AKS, ANR, ATI, VECO,
CLF, JNPR, MCP, SLB, V, X

Moving Above 30 DMA = 2
FB, ZAGG

Moving Below 30 DMA = 1

SWKS

Staying Below 30 DMA 
A, TSLA, DECK, SMH, WDC, TLT, CIEN, TSL, GES, HLF, CHL, NTES, GRPN, DLR, FAZ, LDK


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

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