All nine sectors moved higher on Thursday. XLF +5.96%, XLB +5.43% and XLE +4.43% were the strongest sectors.
On Thursday the Euro was up 287 pips to 1.4188 at 5 pm EDT. TNX closed up 1.92 at 23.95. TLT was down -1.66. Financials XLF was up 79 cents.
Laggards forming reversal patterns and breakouts led the day with LDK, TSL, X, JDSU, VECO, CREE, AKS and ANR some of the biggest gainers.
The broad indices moved lower with the RUT +5.26%, SPX +3.43%,COMPQ +3.32%, INDU +2.86% and NDX +2.79%. The SPX moved up +42.59 to close at 1,284.59. The VIX moved down -4.40 to 25.46.
The SPX chart indicates a price target of 1,363 in 3 to 10 weeks. Wednesday’s low bounced in the area of Friday’s S1 and the old horizontal resistance area of the past 11 weeks.
AAPL, AMZN, BIDU, GOOG, PCLN and QCOM moved higher on Friday.
EU leaders found a way to put together a $1.4 trillion agreement to help alleviate the debt crisis of the past two years. This helped push the Euro higher which had already been rising for three weeks. A rising Euro, falling dollar helped interest rise which help financials gain almost 6% as Thursday’s leading sector.
(click image to enlarge)
Breadth strengthened as advancers led decliners 7.41 to 1 on the NYSE and 5.06 to 1 on the NASDAQ.
Exchange NYSE NASDAQ
Advancers 2,714 2,202
Decliners 366 435
Leading stocks > +2% on Thursday LDK, FAS, TSL, X, JDSU, VECO, CREE, AKS, ANR, GLW, FCX, IL, SOHU, URE, DOW, CLF, CL, ZION, GS, HAL, PCX, GES, JNPR, BAC, INFA, STI, SLB, RVBD, ATI, ENTR, ARUN, GMCR, CIEN, UCO, CDE, NDAQ, KKD, CRUS, A, DE, FWLT, MCP, ESI, CRM, CAT, UNP, SWK, ICE, LVS, FFIV, WLT, NVDA, TPX, ZAGG, MOS, DHR, ANF, TIF, NTES, SNDK, CROX, LNKD, SMH, SINA, HLF, SLW, TBT, COH, CF, POT, VMW, V, SWN, IBM, DLR
Losing stocks < -2.0% included FAZ, CSTR
NDX 100 stocks stronger than the NDX included CTXS, AKAM, FSLR, XRAY, ADSK, ORLY
Stocks weaker than the NDX include NIHD, BMC, VMED, SYMC, CELG, CMCSA, CERN, VRTX, ATVI and DLTR.
Three NDX stocks EBAY, QCOM and WYNN moved above their 30 DMA making 87 NDX stocks above the 30 DMA.
Stocks to Watch on Friday
Holding Above 30 DMA = 75
IBM, ARUN, DECK, FFIV, ICE, INFA, SNDK, CSTR, F, NKE, ANF, COH, ENTR, NVDA, UNP, DHR, DOW, SMH, SWK, TIF, TPX, V, VMW, C, JNPR, NGLS, RCL, ZAGG, CAT, DLR, HLF, LNKD, SWKS, SWN, NTES, WLT, RVBD, SLB, UCO, AKS, FAS, GLW, GS, ZION, A, BAC, CIEN, URE, ATI, CF, CMG, DE, ESI, FCX, FWLT, GES, HUM, ANR, HAL, IL, MOS, PCX, STI, CDE, CHL, CLF, CRUS, MCP, POT, SLW, SOHU, TBT, TSL, UAL, WDC
Moving Above 30 DMA = 10
CREE, CRM, JDSU, KKD, LDK, LVS, NDAQ, SINA, VECO, X
Moving Below 30 DMA = 0
Staying Below 30 DMA
CROX, TLT, FAZ, GMCR
Four Week Intermediate Term Market Trend: Up
Short Term Market Trend: Up
2 comments:
Thanks for the blog...Will there be any retracement?
Dave - THANKS FOR YOUR BLUE TEXT. When I'm in a hurry or when I'm going back to review or find something you wrote, it's helpful that I can just skim the blue text as you KEY points! Thanks! Just wanted to let you know that format is working well. As always, I appreciate the wisdom you share with us!
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