Thursday, January 26, 2012

NFLX Gaps Up, SPX Hits Target Reverses, Potential Yellow Alert...

Eight of nine sectors moved lower on Thursday.  XLU, XLB and XLY were the strongest sectors.

Thursday is once again a potential short-term Yellow Alert exit signalWatch for a potential break below the low of the high day on Friday.  The intermediate term trend is still up. Thursday’s net pullback was modest although the SPX was down 15 points from its high after reaching its 1,332 price target from its January 3 horizontal breakout.


Money Flow
Euro      +00 pips    1.3106
TNX        -0.76            19.31
TLT         +1.54          116.17
XLF         -0.12            14.08
SPX         -7.63       1,318.43
VIX          +0.26            18.57

INDU -0.18%
RUT -0.34%
NDX -0.45%
COMPQ -0.46%
SPX -0.58%


Money Flow was a little atypical at the end of the day with the Euro flat after rising early and pulling back.  TNX was lower and bonds closed higher.   XLF and the SPX closed lower.  The most recent SPX breakout has a chart target of 1,428 within 12 weeks.

The VIX did confirm the SPX today.

(click image to enlarge)

SPY moved down 68 cents on volume of 184.8 million sharesNFLX +20.97, +22.06% reached its highest level since October.  RVBD gapped lower -13.77% after the close with earnings that beat but at the same time lowered guidance for Q1.

Breadth weakened as decliners led advancers 1.03 to 1 on the NYSE and 1.21 to 1 on the NASDAQ.

Exchange        NYSE        NASDAQ
Advancers       1,474          1,137
Decliners         1,532          1,376

Thursday’s Earnings of Interest
RVBD beat lowers guidance
INFA beat
UAL beat
LCC beat
ALK miss
CAT beat raise guidance
MMM beat
CRUS meet
JNPR meat lowers guidance
ESI beat enrollment down
KLAC EPS meet revenues beat

(click image to enlarge)

Earnings season continues
Friday – MO, CVX, DHI, F, HON, PG


Leading stocks > +2% on Thursday UAL, LDK, TSLA, ENTR, KKD, CAT, IL

Losing stocks < -2.0% included SNDK, ESI,ZION, STI, ATI, CF, SWN, PCX, X, A, SINA, GLW, GRPN, HUM, MCP, TBT, INFA, ANR, AKS, ANF

NDX 100 stocks stronger than the NDX included NFLX, FSLR, AMZN, FOSL, CHRW, VMED, LINTA, SBUX, INFY and EXPD.

Stocks weaker than the NDX include SNDK, MU, CTXS, GMCR,WCRX, APOL, LRCX, SIAL, WFM and PCAR.

Three NDX stocks COST, SNDK and VOD closed below the 30 DMA leaving 91 NDX stocks above their 30 DMA

Stocks to Watch on Friday
Holding Above 30 DMA = 73
WDC, DLR, IL, URE, CMG, DE, DOW, ENTR, FAS, SWK, UNP, F, NKE, CIEN, CRUS, SMH, SWKS, JDSU, NGLS, AKS, BAC, CF, CHL, DHR, STI, X, A, C, CAT, CLF, FCX, MOS, POT, TPX, ESI, RVBD, KKD, CREE, GS, JNPR, CROX, HLF, LNKD, LVS, RCL, SLW, SOHU, TSL, CSTR, SINA, VECO, COH, MCP, ARUN, CDE, CRM, FFIV, HAL, NDAQ, SLB, INFA, NTES, NVDA, TBT, VMW, WLT, IBM, ZAGG, ICE, UAL, V, TSLA, UCO
Moving Above 30 DMA = 0

Moving Below 30 DMA = 7
ANF, ANR, ATI, GES, SNDK, SWN, ZION
Staying Below 30 DMA
GLW, HUM, LDK, GRPN, TLT, TIF, PCX, FAZ, DECK

Sixteen Week Intermediate Term Market Trend: Up
Short Term Market Trend: Up

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