Tuesday,
July 31, 2012
One sector moved higher on
Tuesday… XLK, XLU, and XLP were
the strongest sectors.
FOMC
meeting continues
on Wednesday, ECB meeting Thursday and Jobs Report and the Unemployment
report are released on Friday.
Breadth
weakened as
decliners led advancers 1.41 to 1 on the NYSE and 1.43 to 1 on the NASDAQ.
Exchange NYSE
NASDAQ
Advancers 1,233 1,021
Decliners 1,749 1,466
Chart Patterns
Breakout: X,
FSLR
Gap Up: CRUS
Gap Down: COH,
HUM, TIF, FISV
Breakout: CRUS, MCHP, DHR, V
Breakout Continuation: CIEN, SHW, EXPE, CL, KLAC,
HAL, ETN, T, S, BRCM, VMED, AEM, AKAM, SWI, WDC, EXPE, KMB
Breakout Pullback: JNPR, JDSU, HLF, COH, SWK, GS,
ALGN, COST, MTW, INFA, BIDU, ALTR, BIIB, LMT, PNRA, BA,
Breakout
Setup: EBAY,
VMW, AMZN, AVGO, FISV, ADSK, FAS, GES, C, CREE, ANF, SMH, URE, MOS, IBM, ICE,
LLTC, NSC, WHR, CAT, POT, VECO, HSY
Earnings of Interest Week July 30 – Aug 3
Tuesday: ADM, BMC, COH, XRAY, DB, FMC, KLIC, LIFE,
MDC, VLO,
Wednesday:
ICE, MA, WTW, YELP,
Thursday:
ATVI, AIG,
AVD, APA, DTV, HSIC, KFT, LBTYA, LNKD, MELI, MCHP, UPL, ZAGG,
Friday:
AGU, NYX,
BID,
Technical Commentary:
SPY
traded in a narrow range…on lighter than normal volume 120,500,000…closing down
- 0.97…at 137.71
SBUX
continues down trend after gap down on Friday…closes at 45.28
down
- 1.60...Last time at this price level was Dec
2011/Jan 2012...Volume was double of the normal daily volume at 15,200,000…
SINA
reversed to the down losing - 2.91 today or - 6.02%…on higher than normal volume at 3,500,000…
NKE
moved away from its high to below its 30 DMA losing -
2.50 or
- 2.61%...
FB
closed down - 1.44 continuing its downward trend
after last Friday’s
Gap
down…closing at an all time low of 21.71…
CRUS
gapped up on earnings… + 6.93 closing at 36.77
or + 23.22 %... on
13,900,000 shares…3.5 X’s the daily average volume…
X
broke out to up side after a double bottom and on positive earnings report… +
1.73…or 9.14%...volume very heavy…moving above 30 DMA
COH gapped down on earnings…down - 11.25 or - 18.57%...
HUM
gapped down on earnings… - 8.95 or 12.69%...volume
heavy…
FISV
gapped down… below 30 DMA…
ANF
broke short term support line… currently at 30 DMA…down - 1.59…
Tuesday Highlights:
The SPX moved
down - 5.98 at
1,379.32 closing above its 30 DMA and above the 75% level of its April - July trading range of 1,422 – 1,266.
The
Market Forecast green line is pointed up.
30 of 100 NDX stocks closed higher on Tuesday…
Leading NDX 100 stocks included FSLR, AAPL, AVGO, SMYC, MU, NVDA,
EXPE, CMCSA
Lagging NDX stocks included FOSL, SBUX, PCLN, FISV, VRTS, EBAY, BBBY,
GOLD, MNST, HSIC, XRAY
Leading stocks > +2% on Tuesday included CRUS, X, HLF AKS, SWKS, CLF, VECO
Losing stocks < -2.0% included COH, HUM, BD, SINA, ANF,
UCO, TIF, GRPN
Stocks to Watch on Wednesday
Holding
Above 30 DMA = 33
URE, MOS, CHL, SLB, TLT, WDC, UCO, TPX, SWK, TIF,
DLR, GS, JNPR, RVBD, SWI, CIEN, CROX, CRUS, DHR, FAS, GES, HLF, IBM, SMH, SWKS,
V, VECO, VMW, C, FCX, ZAGG, A, RCL
Moving Above 30 DMA = 1
X
Moving Below 30 DMA = 4
NKE, DE, COH, ANF
Staying
Below 30 DMA = CREE, ICE, JDSU, STI, FAZ,
LNKD, ATI, CRM, TSLA CMG, DECK, ESI, X, ZION, BAC, UAL, FB, AKS, CSTR, LDK,
MCP, CLF, GLW, INFA, NTES, TSL, CDE, SOHU, TBT, HUM, SINA, F, GRPN, ANR, LVS
Eight
Week Intermediate Term Market Trend:
Up
Short Term Market Trend: Up
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