Friday, February 8, 2013

LNKD, ATVI Soar Following EPS...NDX Leads as Euro Drifts Lower...


Seven of nine sectors moved higher on Friday and one remained unchanged… XLE, XLK and XLY were the strongest sectors.   XLP was the weakest sector. 

Breadth strengthened but with advancers leading decliners…2.11 to 1 on the NYSE and 1.73 to 1 on the NASDAQ…

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


SPY up 84 cents at 151.80...volume 103.1 million shares…
VIX down -0.48 at 13.02
TNX up .03 at 19.54…
TLT up 45 cents at 117.12…
XLF
up 4 cents at 17.60…volume 44.6 million shares

AAPL up 6.76 at 474.98…volume 22.6 million shares…formed doji
FB down 10 cents at`28.55on volume of 37.7 million shares…


Look for stocks that have reported good earnings and are in an uptrend. 

Earnings Commentary:

With earnings season winding down notable movers have included:

Positive – ATVI, AOL, HUM, CMG, ZNGA, NTES, ORLY, TSO, TWX, HAS, LNKD, MCHP, OPEN, PM, ZION, AMZN, BA, CTXS, EA, JDSU, QCOM, SWKS, AET, MO, CTRP, UA, VIAB, WHR, MAT, PRGO, GE, SLB, STT, GOOG, NFLX, EBAY, GS, CREE, TPX, MJN, FFIV, TSCO, DV, PTEN, CBG, TW, CNW, AAP, ESI, RL

Negative – MCO, BIDU, RCL, SWI, CME, AKAM, CSTR, NUAN, RVBD, BMC, VMW, STX, BRCM, BTU, PHM, MRK, AAPL


Technical Commentary:
The SPY rose 84 cents making another new high close and breaking above its twelve day sideways consolidation.  QQQ +1.03%, IWM +0.71%, SPY +0.56%, each made a new high close while DIA +0.32% closed within one cent of its recent high.

AAPL shares moved up 6.76 following Thursday’s break above recent resistance of its consolidation/basing pattern.    FB moved down 10 cents in a five-day sideways consolidation.

The Euro closed down 34 pips to close at 1.3362 still in a higher low bull flag pattern.

Trade what you see on the chart of your position. Stay with the uptrend according to your rulesIf the stock begins to rollover protect your profits then look potential re-entry according to your rules.

Disk storage stocks WDC +1.87% and STX +2.13% were higher.

Coal stocks JRCC, BTU and WLT where higher while ANR, CNX and ACI were lower on Friday.


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

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Setups
Breakout: PM, ZION, BBRY, DNDN, TEX, FIVE, DECK, JNPR, C, FFIV, SHLD, LVLT, STRZA, QCOM

Diagonal Breakout:  SWK, LSI, SBAC, ESI, CLF, CHK, NUS,

Bull Flag: MON, CRM, XRX, DE, QCOM, CTXS, WMS,TIF, PMCS, PRGO, CRR, VIAB, MOS, LIFE, RCL, MBI, AGO, WYN, SWKS, FTNT, SINA, ATI,

Gap Up:

Gap Down:


Moves
Gap Up:  LNKD, ATVI, AOL, MCHP

Gap Down:  NUAN, RVBD, MCO, CSTR

Breakout: MJN, RSH, MGM, STI, GES, AVX, BPOP, NFLX, GS, ZNGA, JDSU
 
Bounce:  ADI, GME, LVS, HES, FAST, CERN, RS, COST, PRGO, CLB, ATML, ORLY, NTES, PTEN, CBG, TW, CNW, AAP, RL, CTSH, PBI, MTW, GCI, PCLN, RMD, TSCO, AKAM, CPA, TDC

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81 of 100 NDX stocks closed higher on Friday…


Leading NDX 100 stocks included:  ATVI, MCHP, DLTR, NWSA, WYNN, ADI, ADBE, EQIX, ALTR, BIIB

Lagging NDX stocks included:  NUAN, CTRX, MNST, FOSL, SRCL, SPLS, INTU, MDLZ, GOLD, SIRI

Leading stocks> +2% on Friday included: LNKD, NTES, GES, GRPN, YELP, UJAL, LVS

Lagging stocks < -2.0% included:  RVBD, CSTR, TSL, VECO, ESI, ANR, GMCR, LDK, JNPR, MCP

Stocks to Watch on Monday…
Holding Above 30 DMA = 73
SBUX, CSCO, VMED, EXPD, LLTC, PCAR, XLNX, TXN, ADI, SIAL, ADSK, DELL, FFIV, COST, NWSA, DISCA, AMAT, FOSL, KLAC, VIAB, STX, WDC, CHKP, FAST, MCHP,SNDK, STRZA, SIRI, VRSK, ADP, EBAY, EXPE, LINTA, MU, SRCL, SYMC, WYNN, CA, CELG, GILD, HSIC, LIFE, PCLN, MDLZ, ROST, SPLS, AVGO, ATVI, SHLD, MSFT, MYL, NTAP, MXIM, CERN, WFM, XRAY, VOD, ISRG, GOOG, ORLY, BBBY, BIIB, MAT, PAYX, CTXS, QCOM, ADBE, PRGO, DTV, ESRX, YHOO, CTSH, LBTYA

Moving Above 30 DMA = 8                                  
ALTR, AMGN, CMCSA, DLTR, EQIX, NVDA, ORCL, VRTX

Moving Below 30 DMA = 2
CTRX, NUAN

Staying Below 30 DMA
AKAM, GOLD, INTU, AMZN, BMC, CHRW, BIDU, ALXN, FISV, INTC, FB, SBAC, BRCM, REGN, GRMN, MNST, AAPL

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