Tuesday, September 25, 2012

Stocks Move Lower Following Fiscal Policy Comments...

All nine sectors moved lower on Tuesday…defensive sectors XLV, XLU and XLP were the strongest sectors.

Breadth weakened on Tuesday as decliners led advancers 1.48 to 1 on the NYSE and1.22 to 1 on the NASDAQ…
 
Exchange     NYSE    NASDAQ
Advancers      810          667
Decliners     2,216       1,848


SPY down -1.54 at 144.10...volume 133.1 million shares
VIX up 1.28 at 15.43

Euro unchanged at 1.2930
TNX down -0.36 at 16.82
TLT up 1.21 at 123.71…
XLF down 24 cents at 15.60…

AAPL down -17.25 at 673.54volume 18.5 million shares
FB down 51 cents at 20.28… volume 46.2 million shares…

The Market Forecast green line is pointed down moving out of the upper zone.

Technical Commentary:
The broad market moved lower on Tuesday following negative comments on fiscal policy by a nonvoting Fed member…the SPX, NDX 100 and RUT each declined by more than one percent...with 82 of the NDX 100 moving lower…

The SPY closed below its 144.39 support, the ES at its 1,438 support area and NQ at its 2,802 support area.

New Chart Targets:

SPY = 147.88 2.61 Fib
ES = 1,466.00 2.61 Fib on ESZ2
EUR/USD = 1.3095 1.60 Fib, 1.3345 S&R Measuring.

 
Short-term support at
144.39, 143.09 = SPY
1,438.75, 1,421.50 = ES
2,802.50, 2,775, 2,750 = NQ

 

Setups:
Bull Flag: SPY, IWM, XLF, FAS, BAC, C, JPM, WFC, GS, MS, STI, ZION, A, ANR, ATI, CLF, CMG, CRM, FCX, IBM, INFA, JDSU, LVS, MCP, SINA, SLB, SOHU, TBT, TIF, UAL, BTU, WLT, JRCC, ACI, CA, CTSH, FFIV, NUAN, PNRA, QCOM, SHLD, FB, F, LNKD, GRMN, Z, PHM, VMW, EXPE, GOLD, VRTX, PCLN, NTAP, INFY, FISV
Pennant: WYNN
Breakout: GLW, YELP, RCL, SWI, V, ADP, CERN, KFT, SBUX, STX, WFM; Monday: CHRW, XRAY, LIFE, ISRG, SWK, ESRX
AT Support: ESI, ICE, JNPR, TSLA, URE, VECO, EA, EBAY, FOSL, GMCR, ORCL, MSFT, CRUS, CIEN, KORS, AVGO

 
Moving Lower: MXIM, INTC, CREE

Gap Down: Tuesday: CAT

Bounce: NTES, RVBD, VRSN


18 of 100 NDX stocks closed higher on Tuesday…

Leading NDX 100 stocks included: RIMM, CHKP, AMGN, VRSN, ALXN, CHRW, CERN, STX, XRAY, DTV

Lagging NDX stocks included: GMCR, EA, AVGO, NFLX, SPLS, VRTX, APOL, ATVI, FOSL, BRCM
Leading stocks > +2% on Tuesday included: FAZ
 

Lagging stocks < -2.0% included: TSLA, ESI, GRPN, DECK, CREE, MCP,ANR, CLF, INFA, FAS, ATI, CRUS, MOS, CROX, GES, JDSU, CIEN, ZION, AKS, LDK, STI, CMG, COH, URE, TIF, ANF, GS, X, FB, GWL, SWK, FCX, LNKD, JNPR, F, SINA, SWKS, TPX, SOHU, SLB, DLR, TBT

 

Stocks to Watch on Wednesday…

Holding Above 30 DMA = 34

TIF, GS, RVBD, SWI, C, FAS, FCX, JDSU, STI, RCL, BAC, CDE, CRM SINA, SOHU, F, ZION, LVS, LNKD, HUM, GLW, UAL, DE, DHR, IBM, SWK, VMW, V, FB, ZAGG, A, CHL, GRPN, NTES

Moving Above 30 DMA =1

TLT
 

Moving Below 30 DMA = 10
ANR, ATI, CLF, ESI, ICE, INFA, MOS, SLB, TBT, TSLA

Staying Below 30 DMA

ANF, CREE, CRUS, JNPR, MCP, URE, COH, CROX, NKE, TPX, VECO, CSTR, DECK, HLF, UCO, AKS, DLR, SMH, SWKS, X, WDC, CIEN, TSL, GES, FAZ, LDK

 

Fifteen Week Intermediate Term Market Trend: Up
Short Term Market Trend: Down

 

No comments: