Thursday, March 7, 2013

Euro, SPY, IWM, AAPL Move Higher...CIEN Gaps On Better Than Expected Earnings...


Six out of nine sectors moved higher on Thursday… and one remained the same…  XLF, XLE and XLB were the strongest sectors …XLU was the weakest sector…. 

Breadth strengthened advancers still led decliners…1.37 to 1 on the NYSE and 1.54 to 1 on the NASDAQ…

Thursday – strengthened, advancers led
Wednesday – weakened, advancers led
Tuesday – strengthened, advancers led
Monday – weakened slightly, advancers led
Friday – strengthened, advancers led


SPY up 28 cents at 154.78...volume 86.1 million shares…
VIX down .47 at 13.06
TNX up .53 at 19.91…
TLT down .90 at 115.96…
XLF
up 13 cents at 18.19 volume 47.9 million shares

AAPL up 4.92 at 430.58…volume 16.7 million shares…
FB up 1.13 at`28.58on volume on 74.5 million shares…


Technical Commentary:
Stock futures opened higher after new job claims reported better than expected numbers on Thursday and the DJIA closed at a new all-time high for the third straight day.  GOOG, CERN and AMZN rose slightly.  EBAY below its 30 DMA fell to support.

DIA +0.21%, IWM +0.48%, SPY +0.18%, and QQQ +0.26%...all moved higher.  DIA, SPY and IWM moved to a new high close and QQQ rallied on strength on AAPL.

AAPL + 4.92 bounced at support.   FB +1.12 rallied on increasing volume.

The Euro jumped 141 pips and closed at 1.3106 on Thursday after positive economic comments and developments in Europe.

Trade what you see on the chart of your position. The trend is in consolidation and traders should lock in profits when targets are reached. As always look for re-entry according to your rules.

The SPY’s trend inched higher.  XLB,  XLE, XLI continued neutral. XLP, XLU, XLV, XLY, XLK, XLF continued positive.


The Market Forecast Green Line is pointed up and is nearing the upper reversal zone. 

____________________


Setups
Breakout:  UNG, SHLD, ESRX, SNDK, CHK, URI, BMC, MON, MDRX, TSCO, CRR, CBOE, MWV, TW, CLB, CBG

Diagonal Breakout:  MCHP, FAST, P, CSTR, BBRY, GME, SINA,

Bull Flag: WHR, ICE, SLM, WDC, QCOM, CHKP, MNST, STZ, PM

Potential Bullish Divergence: 

Gap Up:

Gap Down:

Bear Flag: OC, DE, LVS, CTL, RAX, PPO, AVGO, DNDN, A, LIFE, GRMN, DDS, MOS, AGU, DE, CCL, STI, WFM

Break of Support:  EBAY, HSP


Moves
Highlights: NFLX, NTES, TPX, CREE, SSYS, ANGI, Z, BBRY

Gap Up:  CIEN, JDSU, CREE, ASNA

Gap DownPETM, AEO,  HRS

Breakout: TRIP, RF, ANGI, ATVI, STRZA, Z, JPM, CTSH, ORCL, NDSN, VECO, FIVE, HPQ,TXN, ILMN, AIZ, ORLY, TPX, CBS, VMI, CTXS,  AWAY, AMGN, MBI, LNKD, PBI, YELP, AL, COG, HES, DECK, CRM


 
Bounce:  UNG, JDSU, AVX, GES, SPLK, BBRY, CLR, AVP, MJN, SPWR, JRCC, ANR, ACI, WLT, BTU, CNW, MTW, SHLD, NTES, EQIX, TEX, IM, FTNT, AOL, KORS, ADM, ZION, PCLN, IBM, PRGO, GNC, ZNGA, NFLX, HLF, BPOP, FAST, PTEN, XRX, FTI, PMCS


MACD Divergence Bounce:  EQIX, BBRY, FB

Bear Flag: ROST, ULTA, STX, EXPD, CORN, RCL, GRPN, DDD, NBR, MGM, POT, SLB, SWKS, AKAM

Support Break:  IPI, CNX, TFM, FFIV, CLF, INT, JCP

____________________


55 of 100 NDX stocks closed higher on Thursday…


Leading NDX 100 stocks included:  SHLD, F, SPLS, MU, DISCA, ATVI, XLNX, SBUX, PCAR, ADP, LINTA, LIFE, VRTX, FFIV

Lagging NDX stocks included:  ROST, WDC, GOLD, STX, MNST, REGN, ISRG, EBAY, PRGO, ALXN, GILD

Leading stocks> +2% on Thursday included: CIEN, JDSU, ZAGG, JNPR, GMCR, FB, BAC, SSYS, CROX, UCO, ATI, ESI, SOHU, CRUS, CSTR

Lagging stocks < -2.0% included:  WDC, COH


Stocks to Watch on Friday…
Holding Above 30 DMA = 73
VMED, ADI, LLTC, DELL, NWSA, AMAT, CHKP, FAST, MCHP, SNDK, STRZA, ADP, SYMC,GILD, HSIC, ATVI, CERN, GOOG, ORLY, BIIB, MAT, PAYX, PRGO, YHOO, ALTR, DLTR, CTRX, ESRX,
MNST, AMGN, DISCA, MU, SBAC, TXN, ADBE, CELG, CMCSA, FISV, INTU, NVDA, QCOM, MSFT, MYL, SRCL, VRTX, MDLZ, LBTYA, VRSK, WDC, SIAL, CTSH, CTXS, PCLN, REGN, VIAB, ADSK, AMZN, COST, INTC, ORCL, SBUX, SIRI, BMC, CA, CSCO, MXIM, PCAR, BOD, ALXN, AVGO, BBBY, XLNX, XRAY

Moving Above 30 DMA =2
LINTA, SHLD

Moving Below 30 DMA = 5
COST, EXPE, MNST, ROST, EQIX, WDC 

                                                                            
Staying Below 30 DMA
FOSL, KLAC, LIFE, SPLS, BRCM, ISRG, SHLD, EBAY, FFIV, NTAP, XRAY, AVGO, BBBY, GRMN, WYNN,  STX, WFM, EXPD, DTV, NUAN, AKAM, GOLD, CHRW, BIDU, ALXN, FB, AAPL

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

No comments: