GOOG Gaps Up $35 After Better Than Expected Earnings...

Seven of nine sectors moved lower on Thursday. XLK +2.53%, XLU +0.00% and XLY -0.08%, were the strongest sectors.

On Thursday the Euro was down 8 pips to 1.3778.  TNX was down -0.57 to 21.69.  TLT was up 1.14.  Financials XLF was down 29 cents.

JPM announced before the open earnings of $1.02 vs. estimate of 91 cents…investment banking fees fell 31%...JPM fell -4.82%...GOOG announced earnings after the close of 9.72 vs. estimates of 8.74 and revenues of $7.51 billion which also beat estimates…GOOG +35.61 in after-hours trading, after rising +10.49 during regular trading…

 The broad indices were mixed with the NDX +0.85%, COMPQ +0.60%, RUT -0.22%, SPX -0.30% and INDU -0.35%.  The SPX moved down -3.59 and closed at 1,203.66.  The VIX moved down -0.56 to 30.70.  This is a non-confirmation of the SPX move down.

AAPL, BIDU, GOOG, PCLN and QCOM all moved higher on Thursday, as did semiconductor stocks.

Wednesday is the high day of the recent short term up trend as the SPX closed near its 1,205 horizontal resistance area for the second straight day.

Breadth weakened as decliners led advancers 1.56 to 1 on the NYSE and 1.03 to 1 on the NASDAQ.

Exchange       NYSE        NASDAQ

Advancers       1,171          1,226

Decliners         1,831          1,271          

Leading stocks > +2% on Thursday SINA, WLT, NVDA, TSL, ENTR, FAZ, LNKD, WDC, PCX, IL, UAL, SWKS, SNDK, CREE, SWN, CRUS, SOHU, VECO, INFA, ZAGG, JNPR, SMH, CF

Losing stocks < -2.0% included BAC, C, FAS, SLW, LDK, A, ZION, GS, ANF, ESI, DOW, JDSU

NDX 100 stocks stronger than the NDX included VRTX, MU, NVDA, BMC, STX, AKAM, ILMN, NIHD, LLTC and SNDK.

Stocks weaker than the NDX include WYNN, FAST, APOL, XRAY, VRSN, QGEN, RIMM, WFM, CTRP and URBN.

Three NDX stocks ALTR, BIDU and XLNX moved above their 30 DMA making 78 NDX stocks now above the 30 DMA. 

Stocks to Watch on Friday

Holding Above 30 DMA = 45

IBM, ARUN, DECK, FFIV, ICE, INFA, SNDK, CRUS, CSTR, F, NDAQ, NKE, ANF, COH, ENTR, NVDA, UNP, CRM, CROX, DHR, DOW, GLW, SMH, STI, SWK, TIF, TPX, UAL, V, VMW, ZION, C, JNPR, NGLS, RCL, ZAGG, CAT, CMG, DLR, FWLT, GES, HLF, LNKD, SWKS, SWN

Moving Above 30 DMA = 4

NTES, SINA, WDC, WLT

Moving Below 30 DMA = 5

A, ESI, FAS, HUM, TBT

Staying Below 30 DMA

TLT, UCO, FAZ, GMCR, CHL, IL, JDSU, LVS, SLW, CIEN, CREE, DE, URE, ATI, CF, KKD, MOS, RVBD, CDE, CLF,  MCP, POT, AKS, PCX, SOHU, TSL, BAC, VECO, LDK, HAL, FCX, GS, SLB, ANR,  X

Nine Week Intermediate Term Market Trend: Neutral

Short Term Market Trend: Up