Financials Rise on Heavy Volume as SPX Closes Near Even...

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Seven of nine sectors moved lower on Friday.  XLF +1.33%, XLY +0.77% and XLK -0.08% were the strongest sectors.

The Euro was down 75 pips to 1.3385 at 5pm EDT on Friday.  TNX was down -0.75 to 20.42.  TLT was up $1.64.  Financials XLF was up 17 cents.

There were several relationship anomalies or non-confirmations on Friday.  Advancers led decliners on both the NYSE and NASDAQ 1.5 to 1, however only 29 NDX stocks rose and 71 moved lower.  The SPX failed to hold its early gains on Friday closing unchanged on relatively light volume while the Financials XLF was the leading sector on heavier volume. 

The NDX was down -0.31% and the RUT was up +0.58%. 

Individual financial stocks rose on heavy volume including MS +6.96% on 52.5 million shares, JPM +6.14% on 90.5 million shares, C +4.37% on 62.5 million shares, STI +3.22% on 8.2 million shares, GS +2.99% on 15.1 million shares, BAC +1.99% on 282.8 million shares and WFC +1.68% on 36.4 million shares.

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The broad indexes after opening higher pulled back to close near unchanged on Friday and with the RUT +0.58%, COMPQ +0.03%, INDU -0.01%, SPX -0.02% and NDX -0.31%.  The broad indexes held above their 10 DMA and 30DMA with the exception of the NDX which closed below its 30 DMA. The SPX moved down -0.30 to close at 1,244.28.

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SPY moved down 11 cents.  SPY volume was 221 million shares and 1.1 billion shares for the week as the SPY rose 7.3% from 116.34 to 124.86.

The VIX moved down +0.11 to 27.52.

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

Breadth strengthened as advancers led decliners 1.53 to 1 on the NYSE and 1.51 to 1 on the NASDAQ.

Exchange         NYSE        NASDAQ

Advancers        1,829           1,518

Decliners         1,194               999

Leading stocks > +2% on Friday WDC, ESI, C, LDK, STI, SINA, FAS, GS, F, CRUS, TSL, CROX, ANF, CMG, TSLA, X

Losing stocks < -2.0% included GES, MCP, CF, ENTR, FAZ, TPX, MOS, TBT, A, POT, SLW

NDX 100 stocks stronger than the NDX included GMCR, CMCSA, APOL, SHLD, GRMN, LRCX, CTSH, FFIV, BBBY and GOOG.

Stocks weaker than the NDX include RIMM, STX, FLIR, ALXN, BIIB, QGEN, CELG, BMC, DTV and BRCM.

Five NDX stocks AAPL, CMCSA, FISV, LRCX and WFM closed above and ERTS, FLIR, LINTA, MCHP and STX closed below the 30 DMA leaving 50 NDX stocks above the 30 DMA. 

Stocks to Watch on Monday

Holding Above 30 DMA = 35

TSLA, NGLS, UCO, CDE, DE, FFIV, HUM, NKE, NVDA, UNP, V, WDC, ANR, ATI, CAT, CHL, CLF, CRUS, DECK, DOW, FCX, HAL, IBM, KKD, LDK, LVS, NDAQ, SLB, SWK, TSL, X, ENTR, NTES, SNDK, UAL

Moving Above 30 DMA = 4

CMG, DLR, INFA, RCL

Moving Below 30 DMA = 5

A, COH, DHR, ICE, SLW

Staying Below 30 DMA

AKS, TLT, FAZ, GLW, RVBD, TIF CIEN, JDSU, JNPR, VMW, ARUN, CF, CREE, CRM, SMH, SWN, URE, WLT, HLF, MOS, PCX, TPX, C, GES, VECO, FAS, GS, SOHU, STI, ZION, MCP, BAC, F, CSTR, IL, POT, SINA, SWKS, ZAGG, LNKD, ANF, ESI, TBT, CROX, GRPN

Eight Week Intermediate Term Market Trend: Up

Short Term Market Trend: Up