DJIA + 121.07, +1.10%
SP500 + 4.09, +0.34%
NASDAQ Comp. - 3.89, -0.15%
Russell 2000 - 0.97, -0.13%
Exchange NYSE NASD
Advancing 812 1,223
Declining 2,023 1,682
Oil $106.89 -$1.13
Gold $888.50 +$6.50
$SOX 321.62 +1.73
Strongest Sectors: XLF +2.74%...XLY +1.00%...XLK +0.48%
Weakest Sectors: XLE -2.66%...XLB -2.33%...XLI -0.41%
Sector Watch
Up Trending:
Sideways: XLF, XLI, XLV, XLP, XLY
Down Trending: XLE, XLU, XLB, XLK
The DJIA moved higher on Friday on the strength of JPM which acquired the deposits of WM Thursday night, BAC, AXP, C and CAT while the other broad indices were mixed. The Financial sector, XLF, was the strongest sector for the second day in a row suggesting that buyers believe Washington will find a finacial bailiout resolution shortly.
Declining stocks led advancers by more than a 2 to 1 margin on the NYSE. Inflation related stocks oil, gold, coal, solar, basic materials, steels and ag-related were some of the biggest losers on Friday.
KBE confirmed with bullish harami with a bullish engulging.
HANS bounced off its horizontal breakout now support and closed above its open.
NTRI had a classic support bounce off its 200 DMA in a bull flag pattern.
Index Commentary
The DJIA followed Thursday's bullish engulfing with white candle that rose to the 20 DMA.
The SPX formed a hammer that was also an inside day.
The Nasdaq bounced from its 2,150 horizontal support again on Friday.
The RUT formed a hammer at support.
Friday's Action
Moving Up: GS, ZION, ESRX, MER, COH
Moving Down: CF, BIDU, FSLR, AGU, POT, MOS, MA, CLF, DRYS, SOHU, ANR, MEE, MON, PCLN, V, BUCY, MS, X, SCHN, IPI, AEM, CNX, SINA, NUE, FWLT, BTU, STRA, HANS, LDK, JASO, FMCN, AMZN, NIHD, LAMR, KMT, UAUA, INFY
Intermediate Term Market Trend: Neutral
Short Term Market Trend: Neutral
1 comment:
Dave,
Is one of the XLK's listed suppose to be XLF? (XLK is listed twice - once in the sideways and once in the downtrending sections under Sector Watch). XLF is not listed at all.
Thanks, Derek
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