Seven of nine sectors moved higher on Thursday.
Defensive sectors XLU, XLV, and
XLP were the strongest sectors.
Breadth strengthened as advancers led decliners 1.69 to 1
on the NYSE and 1.37 to 1 on the NASDAQ.
Exchange NYSE
NASDAQ
Advancers 1,870
1,436
Decliners 1,105 1,042
SPY moved up 28 cents on 148 million shares…
AAPL was up 1.34 to 570.52
on 11.8 million shares…
MNST +5.86, +8.97% reported earnings on Wednesday
PCLN -38.84, -5.26% reported earnings and lowered guidance on Wednesday
CSCO -1.97, -10.49% reported earnings and lowered guidance on Wednesday
Technical Commentary:
The SPY gave back early gains late in the day as the
Euro pulled back. TNX finished higher and the VIX
lower. CSCO gap lower led many tech stocks that moved up Wednesday lower on Thursday.
After the close JPM disclosed in a conference call that it has a $2 billion trading loss from large
positions in credit-default swaps that will affect its Q2 results.
JPM was down -2.74 or -6.73% after
the close. Other bank stocks and XLF moved lower. SPY and ES futures also moved lower, but
stayed above Wednesday’s support level.
Watch TNX and
the Euro Friday morning to observe
if JPM announcement affects the broader market or if it will be a short term impact and
primarily limited to JPM.
Breakout – ADM,
Breakout Setup – WDC, CHL, EBAY, GILD, GOOG, UAL
Flag Bounce – STX, AMZN, MXIM, BIIB
Flag Setup – CRUS, FIRE, BGC, CATM, LULU, GRMN, URE, DLR, LNKD, TSL, SWI, STI, ROST,
ORLY, VRSN, DLTR, WCRX, CTXS, EXPE, SHLD, BA, CERN, DDD, GWR, AMGN
Potential MACD Divergence - ZION,
AKAM, SWK, BRCM, FAST, BAC, FLEX
Bear Flag Setup - ADP, KLAC, PAYX, SPLS
48 of 100 NDX stocks closed higher on Thursday…
Leading NDX 100 stocks included MNST,
NWSA, EA, STX, ATVI, FAST, ALXN, MYL, AMZN, EBAY
Lagging NDX stocks included CSCO, NTAP, PCLN, FSLR, CTXS, CHKP, FFIV,
ORCL, NFLX, CTRP
Leading stocks >
+2% on Thursday included TSLA,
LDK, TPX, STI
Losing stocks <
-2.0% included CRM, RVBD,
JNPR, CROX, VMW, INFA, CIEN, CREE, TSL, SOHU, HLF, SWI, PCX
Stocks to Watch on Friday
Holding Above 30 DMA = 11
TLT, URE, CHL, LNKD, CRUS,
CREE, SWI, TSL, VECO, FAZ, UAL
Moving Above 30 DMA = 0
WDC
Moving Below 30 DMA = 0
Staying Below 30 DMA
DLR, STI, NTES, NKE, ATI,
ANF, AGI, ZAGG, CRM, FCX, IBM, SLB, CMG, DHR, ESI, FAS, FCX, SMH, SWKS, TIF,
UCO, V, AKS, ANR, JNPR, X, HLF, SOHO, DECK, HUM, CROX, LVS, FAZ, CIEN, PCX, RCL, RVBD, CLF, MCP, SWK, TPX, X, ZION, INFA, BAC,
A, TBT, F, JDSU, C, GS, TSLA, COH, GRPN, MOS, ICE, SINA, GES, CDE, LDK
Six Week Intermediate Term Market Trend: Neutral
Short Term
Market Trend: Neutral
