SPX Continues Support Bounce on Strength in Energy and Technology...

Jobless claims came in at 397,000 less than the 400,000 forecasted.  The Unemployment report will be out Friday morning.

All nine sectors moved higher on Thursday. XLE +2.63%, XLI +2.45% and XLK +2.38% were the strongest sectors.

The Euro was up 76 pips to 1.3820 at 5 pm EDT on Thursday.  TNX closed up +0.60 at 20.66.  TLT was down -1.62.  Financials XLF was up 23 cents.

The broad indexes moved higher with the RUT +2.49%, COMPQ +2.20%, NDX +2.13 %, SPX +1.88% and INDU +1.76%.  The SPX moved up +23.25 to close at 1,261.15.  Stocks continued their support bounce on Thursday moving towards their recent high on Oct 27.

 

The VIX moved down -2.24 to 30.50. 

AAPL, AMZN, BIDU, GOOG, PCLN and QCOM moved higher on Thursday.

Breadth weakened slightly as advancers led decliners 3.56 to 1 on the NYSE and 2.89 to 1 on the NASDAQ.

Exchange        NYSE        NASDAQ

Advancers       2,354           1,889

Decliners           661              652          

Leading stocks > +2% on Thursday ANR, KKD, GMCR, IL, SWKS, CREE, NVDA, FAS, ESI, CDE, INFA, FWLT, SLB, VECO, ICE, WDC, RVBD, ENTR, AKS, UCO, TPX, LNKD, HAL, SWK, CSTR, RCL, SLW, CRUS, C, VMW, SMH, CF, GLW, BAC, SINA, ATI, TBT, A, ARUN, SNDK, UNP, NDAQ, CRM, CMG, URE, SWN, DE, X, DOW, FFIV, CAT, COH, NTES, ZION, CIEN, POT

Losing stocks < -2.0% included ANF, FAZ, ZAGG, LDK, GES, TSL

NDX 100 stocks stronger than the NDX included NFLX, GMCR, MU, QCOM, QGEN, DTV, NVDA, TEVA, AKAM and FAST.

Stocks weaker than the NDX include WFM, SIRI, ALXN, VRTX, RIMM, CTRP, SHLD, GILD, NWSA and CHKP.

Seven NDX stocks including EBAY, MSFT, NVDA, and YHOO moved above their 30 DMA making 79 NDX stocks above the 30 DMA. 

Stocks to Watch on Friday

Holding Above 30 DMA = 72

IBM, ARUN, DECK, FFIV, SNDK, F, NKE, COH, ENTR, UNP, DHR, DOW, SMH, SWK, TIF, TPX, VMW, C, JNPR, NGLS, RCL, ZAGG, CAT, DLR,  HLF, LNKD, SWN, NTES, WLT, RVBD, SLB, UCO, AKS, FAS, GLW, GS, ZION, A, BAC, CIEN, URE, ATI, CF, CMG, DE, FCX, GES, HUM, ANR, HAL, PCX, STI, CDE, CLF, CRUS, MCP, SLW, SOHU, TSL, CRM, JDSU, LDK, LVS, X, CHL, IL, INFA, MOS, NDAQ, V, WDC

Moving Above 30 DMA = 8
CREE, CSTR, ICE, KKD, NVDA, POT, SINA, SWKS

Moving Below 30 DMA = 2

ANF, TLT

Staying Below 30 DMA

FWLT, ESI, TBT, VECO, UAL, CROX, FAZ, GMCR

Four Week Intermediate Term Market Trend: Up

Short Term Market Trend: Up