Financials, RUT, INDU and SPX Lead Stocks Higher as NDX Stumbles...

Seven of nine sectors moved higher on Thursday led by XLF +2.81%, XLU and XLI.  

The RUT +1.66%, INDU +1.30% and SPX +0.81% led as the COMPQ -0.43% and NDX -1.04% moved lower.  The SPX moved up +9.34 and closed at 1,160.43.  The VIX moved down -2.24 and closed at 38.84.

Thursday’s rally reversed most of Wednesday’s selloff on the SPY creating a pull back for part of three days similar to August 25 – 26 and September 8 – 12.  If a bounce occurs a potential entry signal could occur on Friday.

The Euro moved up 57 pips to close at 1.3595at 5 pm on Thursday.  Interest rates TNX closed down -0.45 at 19.57, bond ETF TLT rose 81 cents and Financials XLF closed up 33 cents.

 SPY volume increased to 298 million shares.

Thursday’s volatile and diverse rotation of price action made for a unique trading day as money was flowing out of some big NDX leaders like AAPL, PCLN, GOOG, ISRG, AMZN, WYNN, NFLX, BIDU and GMCR and flowing into Dow stocks TRV, BAC, JPM, CVX, GE, HPQ, XOM, PFE, MRK, PG and KO.

Breadth strengthened as advancers led decliners 2.53 to 1 on the NYSE and 1.65 to 1 on the NASDAQ …

Exchange       NYSE        NASDAQ

Advancers      2,164           1,580

Decliners           855               957          

Leading stocks > +2% on Thursday ENTR, FAS, UCO, C, STI, GS, BAC, CIEN, LNKD, URE, FWLT, AKS, A, X, CRUS, UNP, ZION, DLR

Losing stocks < -2.0% included SINA, FAZ, GMCR, TIF, COH, LVS, TPX, MOS, SHOU, WLT, SWKS, ANF, DECK, MCP, ESI, HLF, FCX, CROX, CF, SNDK, CLF, NVDA, JNPR, NTES, CSTR

NDX 100 stocks stronger than the NDX include LIFE, QGEN, SHLD, ADSK, EXPD, FLIR, INFY, PCAR, VOD and TEVA.

Stocks weaker than the NDX include NFLX, SIRI, BIDU, WYNN, GMCR, YHOO, EXPE, WFM, PCLN and MU.

Seven NDX stocks including BMC, BRCM, SHLD and VOD moved above and five stocks moved below their 30 DMA making 50 NDX stocks above the 30 DMA. 

Stocks to Watch on Friday

Holding Above 30 DMA = 17

TLT, V, DECK, ICE, SNDK, CMG, CRUS, HUM, NDAQ, UAL, IBM, ARUN, INFA, NKE, SMH, ANF, HLF

Moving Above 30 DMA = 2

ENTR, STI

Moving Below 30 DMA = 4

COH, FAZ, GMCR, TIF

Staying Below 30 DMA

CHL, CRM, CROX, CSTR, DHR, FFIV, IL, NVDA, SWKS, TPX,  VMW, JDSU, LVS, NGLS, SLW, SWN, A, CIEN, CREE, DE, RCL, URE, ATI, CF, DOW, GES, KKD, LNKD, MOS, RVBD, SINA, UNP, WDC, CDE, CLF, DLR, F, FAS, MCP, POT, UCO, WLT, ZION, AKS, CAT, FWLT, PCX, JNPR, NTES, SOHU, ZAGG, GLW, SWK, TSL, BAC, VECO, LDK, HAL, ESI, FCX, GS, SLB, ANR, C, TBT, X

Six Week Intermediate Term Market Trend: Neutral

Short Term Market Trend: Neutral