Friday, January 25, 2013

SPY New High Close as Earnings Continue Positive...AAPL Falls Again...

All nine sectors moved higher on Friday… XLY, XLE and XLV were the strongest sectors.   XLK was the weakest sector for the second straight day on a falling AAPL

Breadth strengthened as advancers led decliners…1.56 to 1 on the NYSE and 1.26 to 1 on the NASDAQ…

Friday – strengthened, advancers led
Thursday – strengthened, advancers led
Wednesday – weakened, decliners led
Tuesday – strengthened, advancers led
Monday – MLK Holiday


The SPY moved to another new high close as NFLX +15.46%, MCP +13.15%, CRUS +10.15% and DECK +7.50%.   AAPL -10.62, -2.36%, was down for the second straight day.

The chart continues to indicate that the uptrend is more likely to continue.

SPY up 84 cents at 150.25...volume 147.2 million shares…
VIX up 0.20 at 12.89
TNX up 1.03 at 19.47…
TLT down -1.64 at 118.03…
XLF
up 8 cents at 17.47…volume 45.8 million shares

AAPL down -10.62 at 429.88…volume 43.1 million shares…
FB up 46 cents at`31.54on volume of 54.3 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 priceThe earnings pause seems to be vanishing as traders reacted to strong earnings again on Friday.


Earnings to Watch this Week:
Monday – BMC, CAT, RCL, STLD, VMW, YHOO, ZION
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

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Technical Commentary:
The SPY made another new high close.  IWM +0.73%, SPY +0.56%, QQQ +0.51% and DIA +0.43%, as AAPL shares falling price slowed.  FB closed higher near horizontal resistance.

The Euro was up 82 pips to close at 1.3457 on Friday breaking out 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 rose as WDC +0.61% and STX +1.03% EPS Jan 28. 

Coal stocks ANR, ACI, CNX moved slightly lower as BTU and JRCC rose.  Chinese solar stocks TSL rose and LDK moved lower.


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

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

Diagonal Breakout:  BAC, JDSU, CLF, SBAC

Bull Flag:  SINA, SWK, SHLD, BRCM, BIDU, SMH, HLF, CTSH, STI, RIMM, STX, F, JOY, LCC, LF, VECO, UNG, KBH, X, ATI, ANR, AKS, QCOM,

Gap Up: 

Gap Down: 


Moves
Gap Up:  OSK, ADSK, TPX,

Gap Down:  HAS

Breakout:  DECK, GMCR, PCLN, EXPE, NKE, JNPR, AMZN, FOSL, VMW, GILD, TRIP, EBAY, ADSK, SNDK, APOL, BAC, LIFE, NTAP, MOS, NTES, CREE, IBM, PCAR, LEN, LNKD, EQIX, DE, IWM, SPY, FAS, A, PHM, TOL, ROST, GOOG, ISRG, SOHU, EXPD, WAG, RAX, RCL, WDC

Bounce:  NFLX, TEX, FFIV, CRUS, RSH, SWI, AVT, BPOP, MCP, NUAN, TIF, GES, ANF, STRZA, GM,  YELP, UAL, ADBE, REGN, TSL, FSLR, LVS, V

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78 of 100 NDX stocks closed higher on Friday…


Leading NDX 100 stocks included:  KLAC, PCLN, EXPE, SBUX, AMZN, ADSK, NUAN, CTXS, LIFE, EBAY

Lagging NDX stocks included:  AAPL, MAT, GOLD, MNST, QCOM, VRTX, TXN, SBAC, SHLD, ISRG

Leading stocks> +2% on Friday included: NFLX, MCP, CRUS, DECK, VRSN, CSTR, TPX, GMCR, JNPR, SWI, MOS, NTES, VMW, NKE, DLR, RVBD, TIF, TBT, ANF, CREE, SSYS, LNKD, VECO

Lagging stocks < -2.0% included:  ESI, LDK, CDE, CHL

Stocks to Watch on Monday…
Holding Above 30 DMA = 85
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,MAT, MSFT, MYL, NTAP, MXIM, CERN, WFM, XRAY, VOD, DLTR, ISRG, GOOG, ORLY, AKAM, BBBY

Moving Above 30 DMA = 2
FISV, NVDA               

Moving Below 30 DMA = 0
                                                                          

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


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

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