Wednesday, October 31, 2012

NFXL Continues to Soar as Broad Market Range Bound on Light Volume...


Markets reopened on Wednesday with a light volume range day and five of nine sectors moved higher…XLU, XLF and XLI were the strongest sectors.


SPY unchanged at 141.35...volume 103.4 million shares
VIX +0.79 at 18.60…
TNX -0.64 at 16.86…
TLT up 72 cents at 123.36…
XLF
up 10 cents at 15.90…volume 56.5 million shares

AAPL down -8.68 at 595.31volume 18.2 million shares
FB down 83 cents at`21.11… volume 99.3 million shares…


Technical Commentary:
GNRC, NFLX, NUS, RIMM, F, CSTR, DUSA, KTCC, TGI, TPX, SWI were among individual big movers to upside.  AAPL closed lower following Friday's earnings reaction but rallied from its intra-day lows.

The Euro held steady after bouncing on Tuesday at a higher low support in its current bull flag pattern.  TNX, interest rates were lower, TLT, closed bonds higher and XLF was up 10 cents forming a hammer at horizontal support.

The SPY was unchanged closing near its 141 support level for the fifth day trading in a row.  The VIX moved higher.

ES holds 1,400 support levels.  NQ closed below its 2,650 support at 2,635 and has confirmed its MACD histogram bullish divergence.


Chart Targets:
SPY = 147.88 2.61 Fib
ES =
1,466.002.61 Fib on ESZ2
EUR/USD =
1.3095 1.60 Fib, 1.3345S&R Measuring

Short-term support at
141, 139.40 = SPY
1,400, 1,390 = ES
2,650, 2,610 = NQ


41 OF 100 NDX stock closed higher on Wednesday…


Leading NDX 100 stocks included: NFLX, RIMM, EA, FAST, FLEX, APOL, INFY, WYNN, MRVL, COST

Lagging NDX stocks included: BIDU, SHLD, VRSN, ALXN, NTAP, BIIB, MNST, VRTX, GRMN, EBAY

Leading stocks > +2% on Wednesday included: F, CSTR, TPX, SWI, LDK, TSLA, SWK, CRUS, GS, GES, LNKD, URE, BAC, C, CDE,

Lagging stocks < -2.0% included: RVBD, GRPN, JDSU, ZAGG, CIEN, FB, X, AKS, DECK, SINA, MCP


Stocks to Watch on Thursday…
Holding Above 30 DMA
VMED, CMCSA, LINTA, SIRI, SHLD, FISV, AMGN, ISRG, ADBE, LRCX, MAT, YHOO, MYL, ORLY, PCAR, SRCL, SYMC, TXN, WYNN, CERN, CHRW, EXPD, EXPE, MXIM, NFLX

Moving Above 30 DMA = 2
RIMM, FAST

Moving Below 30 DMA = 4
AKAM, BIDU, EBAY, PNRA

Staying Below 30 DMA
FOSL, GILD, EXPD, CTSH, GOLD, INTU, NWSA, PCAR, SIAL, VIAB, ADP, ALXN, CELG, EA, ESRX, MNST, TXN, VRSN, WFM, XRAY, BIIB, FLEX, GOOG, LIFE, MYL, SNDK, AKAM, CHKP, ORCL, APOL, INFY, ORLY, VRTX, COST, SPLS, AMZN, BMC, FFIV, GRMN, HSIC, LLTC, PCLN, VOD, WCRX, ADSK, DLTR, DTV, NUAN, QCOM, SBUX, AAPL, ATVI, BRCM, CA, MSFT, NTAP, PAYX, XLNX, CTXS, GMCR, SYMC, CSCO, MU, ALTR, BBBY, AMAT, KLAC, MCHP, AVGO, ROST, STX, NVDA, DELL, INTC, MRVL, KRFT

Eleven Week Intermediate Term Market Trend: Neutral
Five Day Short Term Market Trend: Neutral

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