Monday, January 28, 2013

SPY, EURO Pause As AAPL Rises...STX, VMW Fall After Close...


Three sectors moved higher on Monday… XLK, XLP and XLI were the strongest sectors.   XLB was the weakest sector.. 

Breadth weakened as decliners led advancers…1.31 to 1 on the NYSE and remained the same at 1.26 to 1 on the NASDAQ…

Monday – weakened, decliners led on NYSE and advancers led on NASDAQ
Friday – strengthened, advancers led
Thursday – strengthened, advancers led
Wednesday – weakened, decliners led
Tuesday – strengthened, advancers led


The chart continues to indicate that the uptrend is more likely to continue, stay prepared for a potential pullback.

SPY down 18 cents at 150.07...volume 113.3 million shares…
VIX up .68  at 13.57
TNX up .27  at 19.74…
TLT down 43 cents at 117.60…
XLF
down 7 cents at 17.40…volume 31 million shares

AAPL up 9.95 at 449.83…volume 28 million shares…
FB up .93 cents at`32.47on volume of 59.6 million shares…EPS Jan 30…bull flag bounce


Look for stocks with good earnings and guidance to likely rise and those with either weak earnings or guidance likely to fall in price

Earnings to Watch this Week:
Monday – BMC, CAT, STLD, VMW, YHOO, ZION, STX
Tuesday – AKS, AMZN, BRCM, CHRW, DHR, GLW, HOG, IP, BTU
Wednesday – BA, CTXS, EA, JDSU, QCOM, SWKS
Thursday – AET, MO, CTRP, MA, PCAR, POT, PHM, UA, VIAB, WHR
Friday – CVX, XOM, MAT, MRK, PRGO

BMC, STX, and VMW gapping down after releasing earnings


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Technical Commentary:
The SPY formed a potential hanging man pattern closed down 18 cents.  IWM +0.07%, SPY -0.12%, QQQ +0.22% and DIA +0.02%, as AAPL shares bounced forming a piercing line pattern.  FB broke out of horizontal resistance.

The Euro was down 3 pips to close at 1.3454 on Monday in its strong uptrend.

Trade what you see on the chart of your position.  If it is breaking out of resistance take the trade or stay with the uptrend according to your rulesIf the stock begins to rollover protect your profits.

Disk storage stocks fell after the close WDC - 2.55% and STX - 4.84% after releasing EPS. 


The Market Forecast Green Line is in the upper reversal zone. 

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Setups
Breakout:  C, VIAB, CERN, ZION, MGM, COST, STI, CTXS, ADI

Diagonal Breakout:  BAC, CLF, SBAC

Gap Down:  BMC, STX, BMW, WDC 


Moves
Gap Up:  HES

Gap Down: 

Breakout:  FAST, FB, CRM, JDSU
 
Bounce:  TEX, FFIV, RSH, BPOP, NUAN, STRZA, SHLD, ESI, AVX, ZNGA, NIHD, XRX

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43 of 100 NDX stocks closed higher on Monday and two were unchanged…


Leading NDX 100 stocks included:  SHLD, BIDU, SPLS, FB, AMGN, BIIB, AAPL, NUAN, MXIM, NVDA MNST

Lagging NDX stocks included:  AMZN, BBBY, CTRX, REGN, VRTX, PCLN, PRGO, LIFE, SBUX, ROST, FOSL

Leading stocks> +2% on Monday included: ESI, FB, TSLA, LNKD, CMG, CROX, GRPN, CRM

Lagging stocks < -2.0% included:  SSYS, HLF, RIMM, AKS, LDK, NFLX, MCP, ANR, TSL, X, UAL, GMCR, V, ANF

Stocks to Watch on Tuesday…
Holding Above 30 DMA = 86
SBUX, CSCO, VMED, SBAC, EXPD, LLTC, PCAR, XLNX, TXN, ADI, SIAL, ADSK, DELL, FFIV, ORCL, COST, ADBE, NWSA, DISCA, AMAT, CTSH, FOSL, KLAC, VIAB, NUAN, STX, LBTYA, WDC, CHKP, FAST, MCHP, SNDK, EQIX, STRZA, CTXS, CHRW, SIRI, BIDU, VRSK, ADP, AMZN, BRCM, CMCSA, DTV, EBAY, EXPE, LINTA, MU,  SRCL, SYMC, VRTX, WYNN, FB, CA, CELG, GILD, HSIC, INTU, LIFE, PCLN, QCOM, MDLZ, CTRX, ROST, SPLS, BMC, AVGO, ATVI, SHLD, YHOO, MSFT, MYL, NTAP, MXIM, CERN, WFM, XRAY, VOD, DLTR, ISRG, GOOG, ORLY, AKAM, BBBY, FISV, NVDA

Moving Above 30 DMA = 1
BIIB
               

Moving Below 30 DMA = 1
MAT                                                                          

Staying Below 30 DMA
ALTR, INTC, PAYX, ALXN, ESRX, PRGO, REGN, AMGN, GRMN, MNST, AAPL, GOLD


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

1 comment:

TraderBobb said...

Dave:
Thanks
Robert
CANI_212