DJIA - 82.99, -1.04%
SP500 - 6.53, -0.77%
NASDAQ Comp. + 2.27, +0.14%
Russell 2000 + 0.66, +0.14%
Exchange NYSE NASD
Advancing 2,005 1,435
Declining 1,699 1,307
Oil $48.85 +$0.30
Gold $892.10 +$9.70
SOX 251.08 +10.42
VIX 38.10 +0.96
The VIX moved up and did confirm the move down in the SPX on Wednesday.
Strongest Sectors: XLI +1.55%...XLY +1.00%...XLK +0.48%
Weakest Sectors: XLF -3.58%...XLP -1.33%...XLV -1.08%
Five of nine Sectors moved lower on Wednesday. Industrials, Consumer Discretionary, Technology and Materials were stronger than the SPX. Financial stocks weaker than XLF, -3.58% include: KEY, MS, USB, ALL, ICE, SPG, TRV, BK, STT, PNC, BAC, PRU, RF, AFL, MET, ZION, CME, CB, NTRS and ETF’s UYG and FAS.
The Tech Sector XLK was up +0.48%. Leading tech stocks stronger than XLK +0.48%: EBAY, AMAT, TXN, INTC, EMC, T, SYMC, ADBE, DELL, YHOO and GOOG.
On Tuesday we wrote; “The SOX +0.20%, was weaker than the SPX, not a sign of strength on Tuesday. Generally the SOX is a leader in a rally, however there have been times in recent weeks where it was weak on a strong rally day and then the next day it outperformed the market.”
Did you notice on Wednesday that the SOX moved up 10.42 points or +4.33% while the SPX moved down?
Sector Watch
Up Trending:
Sideways: XLE, XLY, XLV, XLK, XLB
Down Trending: XLF, XLP, XLI, XLU
Index Commentary
The DJIA formed a spinning top…closed below 20 DMA…volume was 387 million shares…closed above its 30 and 50 DMA.
The SPX formed an inverted hammer…closed above its 20, 30 and 50 DMA.
The Nasdaq formed a white inverted hammer bullish engulfing pattern…closed above its 20, 30 and 50 DMA.
The RUT formed a white inverted hammer…closed above its 20, 30 and 50 DMA
Check out these bull flag breakouts from our At the Open list
(click image to enlarge)
At the Open on Thursday
SPY – inverted hammer
DECK – spinning top
SNDA – black spinning top
EBAY – bull flag breakout
SCHN – shooting star
GME – spinning top at 200 DMA
SHLD – spinning top at 200 DMA
ADS – black spinning top in bull flag
STT – black spinning top above S1
AG – bull flag breakout
XRT – white candle
USD – support bounce break high of low day
URE – bullish engulfing
WYNN – bull flag breakout
LEAP – inverted hammer
ISRG – large white candle horizontal breakout
Stocks to Watch on Thursday
Leading Stocks
Holding Above 30 DMA
BIDU, CLB, NFLX, DLTR, ICE, ALGT, DLB, JEC, PWR, VPRT, AMZN, USD, AAPL, CTSH, AXYS, BAP, CAM, GMCR, GPRO, JCOM, JOSB, ATW, GR, SYNA, EBAY, GES, SNA, ORCL, WRC, DECK, HDB, PCP, UYG, FSLR, GME, WCG, RIMM, X, BDX, BYI, CBST, EZPW, HLF, AMX, MHS, WAB, FAS, AFAM, CHL, JW.A, K, RBN, ESRX, PCLN, URE, VAR, PCR, PPD, HANS, PETS, SWN, MCD, CPLA, AMED, FLS, SNHY, SPWRA, JOYG
Moving Above 30 DMA = 3
GILD, GXDX, TDG
Moving Below 30 DMA = 2
MCD, CBST
Staying Below 30 DMA
MYGN, STRA, DV, MUR, SLGN, TDG, NIHD, BIIB, MOS, NTLS, RCI, MON, WMT, GILD, BKC, APEI, BLUD, ESI, GXDX, ACN, PSYS
Intermediate Term Market Trend: Neutral
Short Term Market Trend: Neutral
1 comment:
Dave,
Hammer on the FAZ? On confirmation tomorrow, I'm jumping in. What say you?
Thanks,
Eric
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