Thursday Ends With a Lower Close...Gold Stocks Shine

New Daily Feature Coming as soon as we hear from you… Ask a technical market or stock question… Email us a great question and you’ll get a great answer… Email us at chartsignals@yahoo.com DJIA - 281.40, -4.09% SP500 - 30.32, -4.25% NASDAQ Comp. - 54.15, -4.00% Russell 2000 - 21.85, -5.88% Exchange NYSE NASD Advancing 401 441 Declining 3,461 2,361 Oil $43.61 -$1.77 Gold $927.00 +$21.00 SOX 197.25 -3.02 VIX 50.17 +2.61 The VIX moved up confirming the move down in the SPX on Thursday. Strongest Sectors: XLP -2.29%...XLV -2.66%...XLU -2.85% Weakest Sectors: XLF -9.43%...XLY -4.68%...XLE -4.41% Sector Watch Up Trending: Sideways: XLE, XLU, XLY, XLV, XLK Down Trending: XLF, XLP, XLI, XLB Momentum shifted from up to down on Thursday as the SPX, DJIA, Nasdaq and RUT all fell to new closing lows. . In fact the DJIA and SPX hit their lowest closing level since 1997 while the Nasdaq and RUT hit their lowest closing levels since 2003. The Unemployment Report will be out Friday morning with a consensus estimate of a loss of 648,000 jobs. The question becomes did the markets react to the expectation before the news on Thursday? If so, it would already be factored into stock prices. In which case it would be possible to see stock prices rise rather than fall tomorrow. Will this be, buy the rumor and sell the news? We’ll know tomorrow. Oil prices fell while gold prices rose. If you were watching our BMO Post this morning you saw our comments about gold stocks…secifically...AEM, GG, GOLD, NEM, GDX and GLD...we hope you took advantage of the opportunity. Semiconductors were relatively stronger than the broad market with NSM rising and ALTR, MRVL and XLNX down slightly. AMZN fell just 4 cents while BIDU rose more than $4. PCLN fell 59 cents while forming a doji in a bull flag attern. Index Commentary The SPX, DJIA, Nasdaq and RUT all formed large black candles on Thursday breaking the low of the high day on Wednesday. The mid-section (R1) of Thursday’s large black candle is short term resistance . Stock Commentary With the pull back in stocks on Thursday many charts show Wednesday was the high day and Thursday falling below that low. Coal stocks BTU, CNX, and WLT each moved below Wednesday low which was the high day. Steel stocks NUE, SCHN, STLD and X and rail stocks BNI, CSX, NSC and UNP each fell below Wednesday’s low. Ag-related stocks POT, MOS, CF, IPI and AGU all moved lower. Stocks to Watch on Friday Leading Stocks: Holding Above 30 DMA VPRT, AMZN, BIDU, CLB, PCLN, BKC, GMCR, MOS, NFLX, DLB, DLTR, HANS Moving Above 30 DMA = 0 Moving Below 30 DMA = 2 ALGT, GME Staying Below 30 DMA JCOM, SLGN, WRC, FLS, ICE, MYGN, CPLA, ESRX, GES, PSYS, CHL, DECK, GIL, MHS, TDG, SPWRA, AMED, APEI, BIIB, GPRO, GXDX, MON, PCP, RBN, AAPL, CTSH, DV, ESI, VAR, SYNA, WCG, ATW, BLUD, JW.A, MUR, ORCL, RCI, SWN, GR, FSLR, HLF, EBAY, AMX, STRA, PCR, PWR, RIMM, BDX, BYI, CAM, PPD, ACN, NIHD, SNHY, JOYG, K, JOSB, JEC, PETS, NTLS, BAP, HDB, CBST, SNA, AFAM, EZPW, WAB, AXYS Thursday’s Action (=> +0.70 or -0.70) Moving Up: BIDU, AEM, GOLD, GLD, GG, NEM, GDX Moving Down: POT, GS, MA, FSLR, SCHN, STRA, ESRX, NUE, ONXX, SOHU, V, MOS, FWLT, AGU, X, KBE, NDAQ, CF, MON, CLF, MS, KRE, KMT, ZION, INFY, COH, HANS, CNX, ANR Intermediate Term Market Trend: Neutral – Nasdaq; Down – DJIA, SPX, RUT Short Term Market Trend: Down