Euro, XLF Rise, Coal Stocks Jump as AAPL Falls After Ruling...

Six of nine sectors moved up on Thursday…XLE, XLF and XLB were the strongest sectors.

Breadth strengthened on Thursday…advancers led decliners 1.92 to 1 on the NYSE and decliners led advancers 1.50 to 1 on the NASDAQ…

Exchange     NYSE    NASDAQ

Advancers    1,977      1,464
Decliners      1,026        971

SPY up .08 cents at 143.36...volume 123.5 million shares

VIX down .70 at 15.59…

TNX down .16 at 16.75…
TLT up 85 cents at 123.66…
XLF up .09 cents at 16.03…

AAPL down  12.81 at 628.10…volume 19.4 million shares …

FB up .11 cents at`19.75… volume 21.8 million shares…

The Market Forecast green line is pointed down.    

Technical Commentary:

The Euro rose and the broad stock indexes opened higher an pulled back during the day with IWM and SPY closing slightly higher.  Financial stocks XLF was stronger than the broad indexes while the VIX fell.

Coal stocks JRCC, ANR, ACI, BTU, CNX and WLT had a mega day rising between 7% and 18%.  Steel stocks AKS, X and ATI rose following Wednesday’s pause.

Earnings Season started on Tuesday.

 

Earnings to Watch:

Tuesday – AA -0.42, -4.60% beat on EPS and revenues, sees 2012 global aluminum demand at +6% vs. previous +7%

YUM +5.28, +8.04% beat EPS, raised guidance

Wednesday – COST +1.91, +1.92%, beat EPS and revenues

Thursday – FAST BMO

Friday – JPM, WFC, INFY BMO

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
143.09, 142.33 = SPY
1,424, 1,414.50 = ES
2,735, 2,695, 2,650 = NQ

Setups:

Bull Flag: NTES, SINA, IBM, RVBD, UAL, SWK, XLF, BAC, WFC, STI, PHM, HLF, OI, F, PAY, AMGN, ADP, CHRW, CELG, CTSH, CMCSA, FFIV, GILD, LIFE, NFLX, NWSA, ORLY, PRGO. GRPN

Hammer: CSTR, NTES, TPX

Inverted Hammer: A, CRM, TIF, VECO, WDC, ZAGG

Bullish Harami: ATI, COH, CSTR, GRPN, HLF, ICE, JDSU, JNPR, LVS, NKE, RCL, RVBD, ZAGG

Bullish Engulfing: SINA, ZION

Resistance Setup: GTI, CDE, GRPN, GS, HUM, UCO

At Support: RVBD, ZAGG, MYL, AKAM, ALXN, BIDU, CERN, CMG, CTXS, XRAY, ESRX, EXPE, FOSL, HSIC, ISRG, MU, MYL, NTAP, ORCL, SRCL, SYMC, TXN, SOHU, SWKS, URE, VECO

Break of Support:  DLTR, FB, AMZN, BIIB, CA, GRMN, KLAC, MRVL, MCHP, SIAL, LVS, IWM, ADSK, AMAT, BRCM, DTV, EXPD, INTC, MSFT, NUAN, NVDA, QCOM, STX, SBUX

Gap Up:  CLWR, S, FAST

Resistance BO:  KWK

Bounce: JRCC, ANR, ACI, BTU, CNX, WLT, SM, RSH, ZION, AKS, MA, BAC, BIDU, C, CDE, CIEN, CLF, COH, CRM, CROX, CRUS, DECK, DE, DHR, EBAY, FAS, FCX, GRPN, GS, HLF, HUM, INFY, LNKD, MCP, MOS, MS, SLB, SOHU, STI, TIF, TLT, UCO, V, VECO, X, NFX, FST, UPL,

61 of 100 NDX stocks closed higher on Thursday…

Leading NDX 100 stocks included:  FAST, INFY, APOL, SHLD, LRCX, FLEX, RIMM, LINTA, NUAN, EBA

Lagging NDX stocks included: DLTR, CERN, COST, ROST, AAPL, EXPE, CTXS, KLAC, DTV, QCOM

Leading stocks > +2% on Thursday included:  ANR, AKS, DECK, MCP, GRPN, ESI, X, ZION, COH, CIEN, CROX, ATI, UCO, CDE

Lagging stocks < -2.0% included: LDK, FAZ, VMW, TBT, UAL, DLR, SINA, SWI, SWKS, TSLA, SWK, INFA, CMG, CREE, IBM

Stocks to Watch on Friday…

Holding Above 30 DMA = 24

GS, XLF, C, FAS, FCX, RCL, STI, BAC, CDE, ZION, HUM, GLW, DE, DHR, IBM, V, CHL, GRPN, NTES, UAL, HLF, TPX, CLF, X, ANR

Moving Above 30 DMA =4   

AKS, CRM, F, TIF

Moving Below 30 DMA = 0

 

Staying Below 30 DMA

RVBD, TBT, A, LNKD, LVS, SWK, TIF, TSL, TSLA, VMW, FB, ZAGG, FB, SWI, SINA, TLT, ATI, CMG, INFA, JDSU, SOHU, MCP, ESI, ICE, MOS, SLB, ANF, CREE, CRUS, JNPR, URE, COH, CROX, NKE, VECO, CSTR, DECK, UCO, DLR, SMH, SWKS, X, WDC, CIEN, GES, FAZ, LDK

Eighteen Week Intermediate Term Market Trend: Neutral

Short Term Market Trend: Down