All nine sectors moved higher on Thursday. XLB, XLI and XLV were the strongest sectors.
Breadth remained steady as advancers led decliners 3.91 to 1 on the NYSE and 2.62 to 1 on the NASDAQ.
Exchange NYSE NASDAQ
Advancers 2,406 1,824
Decliners 615 695Stocks led by the RUT, COMPQ and NDX continued the support bounce which began on Wednesday as the SPX closed above Monday’s close completing reversal of Tuesday’s 23 point selloff.
The SPY moved moved up 1.34 on 116.8 million shares.
AAPL, AMZN, CSCO, MSFT and QCOM accounted for 14.71 points of the NDX 29.33 point rise as 89 NDX stocks moved higher.
Money Flow
Euro +73 pips 1.3271
TNX +0.42 20.14
TLT -1.17 115.74
XLF +0.14 14.77
SPX +13.28 1,365.91
VIX -1.12 17.95
RUT +1.31%
COMPQ +1.18%
NDX +1.12%
SPX +0.98%
INDU +0.55%
Money Flow was typical on Thursday as the Euro, TNX, XLF, SPX moved higher and bonds TLT and VIX moved lower. The Jan 18 SPX breakout has an intermediate term chart target of 1,427 within 12 weeks of the breakout, and clearly has taken a rest pulling back from it 161.2% Fib extension.
The VIX moved lower and did confirm the SPX move up on Thursday.
(click image to enlarge)
Support Bounce Entry – CREE, PCS, WDC, MTW, STI, GES, CHL, AXP, ADSK, HAL, COH
Bull Flag Setups to watch on Friday – CCJ, ZAGG, SWI, MOS, DLR
Support Bounce Setups - VRSN, PCS, ADSK, INTU, NVDA, RVBD, KKD, ESI
(click image to enlarge)
Leading stocks > +2% on Thursday included CIEN, ZAGG, COH, ARUN, MCP, VECO, CF, SWN, CREE, GLW, LDK, GES, WDC, CRUS, SINA, WLT, JDSU, NTES, FAS, SWKS, INFA, CSTR, ENTR, CLF, LVS, C, DOW, ANF, AKS, CDE, TBT, V
Losing stocks < -2.0% included CROX, FAZ, IL
NDX 100 stocks stronger than the NDX included WCRX, BRCM, FFIV, STX, VRTX, NUAN, WYNN, SBUX, INFY and FOSL.
Stocks weaker than the NDX include GMCR, EXPE, ORCL, FFIV, NUAN, INTC, SPLS, TEVA, ORLY and YHOO.
Sixteen NDX stocks ADP, AMZN, BIIB, CELG, CHRW, CTSH, EXPD, FLEX, HSIC, MXIM, PCAR, SIAL, SRCL, VMED, WCRX and XRAY closed above the 30 DMA and one FFIV moved below making 64 NDX stocks above their 30 DMA.
Stocks to Watch on Friday
Holding Above 30 DMA = 35
CMG, NKE, CRUS, SWKS, NGLS, CHL, TPX, HLF, LNKD, LVS, CSTR, CRM, INFA, SWI, VMW, IBM, TSLA, GES, V, ICE, TIF, UCO, DLR, SNDK, SINA, ANF, BAC, C, COH, FAS, GS, NTES, SWK, VECO, ZION
Moving Above 30 DMA = 10
A, CF, CREE, DHR, GLW, STI, SWN, TBT, WDC, ZAGG
Moving Below 30 DMA = 1
FFIV
Staying Below 30 DMA
FAZ, TLT, KKD, NDAQ, PCS, RVBD, URE, CAT, CROX, DOW, F, MOS, POT, SLW, CDE, LDK, SLB, SMH, ENTR, HAL, JDSU, JNPR, UNP, ARUN, ESI, IL, NVDA, CIEN, DECK, MCP, TSL, HUM, RCL, UAL, WLT, DE, CLF, FCX, X, GRPN, ANR, PCX, SOHU, AKS, ATI
Five Month Intermediate Term Market Trend: Up
Short Term Market Trend: Up
1 comment:
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