All nine sectors moved higher on Tuesday. XLF +1.87%, XLE +1.63% and XLV +1.22% were the strongest sectors.
The Euro was up 59 pips to 1.3833 at 5 pm EDT on Tuesday. TNX closed was up +0.71 at 20.65. TLT was down -1.50. Financials XLF was up 25 cents.
The broad indexes moved higher with the RUT +1.36%, NDX +1.22 %, COMPQ +1.20%, SPX +1.17% and INDU +0.84%. The SPX moved up +14.80 to close at 1,275.92. The SPX continued its support bounce and made its highest close in a week.
Last week’s support bounce entries HON closed just above resistance, X held at resistance while MOS and HAL continued their support bounce towards resistance.
The VIX moved down -2.37 to 27.48.
AAPL, AMZN, BIDU, GOOG, PCLN and QCOM moved higher on Tuesday.
Breadth strengthened as advancers led decliners 3.98 to 1 on the NYSE and 2.57 to 1 on the NASDAQ.
Exchange NYSE NASDAQ
Advancers 2,231 1,844
Decliners 560 717
Leading stocks > +2% on Tuesday FAS, JDSU, JNPR, F, ANR, CSTR, STI, GS, C, CIEN, A, URE, TBT, NVDA, SINA, ZION, KKD, HAL
Losing stocks < -2.0% included FAZ, ENTR, UAL, ZAGG
NDX 100 stocks stronger than the NDX included PCLN, QGEN, EXPD, LIFE, AKAM, WCRX, SIRI, SPLS, XRAY and ESRX.
Stocks weaker than the NDX include VRTX, URBN, STX, EXPE, LINTA, ALXN, ERS, LRCX, AMGN and CTRP.
Four NDX stocks CELG, DELL and MRVL moved above their 30 DMA making 84 NDX stocks above the 30 DMA.
Stocks to Watch on Wednesday
Holding Above 30 DMA = 79
IBM, ARUN, DECK, FFIV, SNDK, F, NKE, COH, ENTR, UNP, DHR, DOW, SMH, SWK, TIF, TPX, VMW, C, JNPR, NGLS, RCL, CAT, DLR, HLF, SWN, NTES, WLT, RVBD, SLB, UCO, AKS, FAS, GLW, GS, ZION, A, BAC, CIEN, URE, ATI, CF, CMG, DE, FCX, GES, HUM, ANR, HAL, PCX, STI, CDE, CLF, CRUS, MCP, SLW, SOHU, TSL, CRM, JDSU, LDK, LVS, X, IL, INFA, MOS, NDAQ, V, WDC, CREE, ICE, KKD, NVDA, POT, SINA, SWKS, VECO, CHL, FWLT
Moving Above 30 DMA = 1
CSTR
Moving Below 30 DMA = 2
TLT, ZAGG
Staying Below 30 DMA
LNKD, ANF, ESI, TBT, UAL, CROX, FAZ, GMCR
Five Week Intermediate Term Market Trend: Up
Short Term Market Trend: Up
Tuesday, November 8, 2011
Futures Point to a Higher Open...PCLN Gaps Higher Following Earnings...
BMO – ES +7.25 and NQ +19.25 futures are higher about 40 minutes before the open in pre-market trading and point to a higher open…volume is moderate for pre-market with more stocks quoting up than down…Financial stocks, XLF is up 12 cents on 17,900 shares in pre-market at this time…
TLT is down 58 cents and the Euro is up 21 pips in overnight trading…the Euro found support last Tuesday at the 1.3600 area which continues to hold…
NDX leaders AAPL, AMZN, BIDU, GOOG, PCLN and QCOM are quoting higher…PCLN is gapping higher after reporting earnings Monday after the close
Dave’s Insight for Tuesday: higher Euro…lower bonds…Financials higher…setting up a lhigher open …the SPX continued its support bounce on Monday…SPX price target is still 1,363 within the 10 week time window we mentioned when it broke out two weeks ago…use pull backs as new entry opportunities according to your rules…move stops to protect profits also according to your rules…Always follow YOUR rules at entry, exits and stops...
Chart Signals will be watching XLF, TNX and VIX today as key factors in any SPX move…
SPX
Resistance: 1,260, 1,273, 1,300
Support: 1,249, 1,230, 1,216
Quoting Down – FAZ, TLT, ESI, AIT, COH, URBN, LRCX, FAST, PCAR, EXPE
Quoting Up – PCLN, CF, URE, SINA, GMCR, TPX, CAT, NKE, WLT, GS, MCP, CLF, LNKD, MOS, ANR, CMG, POT, SLB, FCX, CREE, V, RVBD, HAL, DE, C, SWKS, VMW, X, FAS, CRM, LVS, CHL, HLF, ANF, FFIV, TBT, SOHU, JNPR, AAPL, GOG, AMZN, WYNN, BIDU, CTRP, JOYG, NFLX, FSLR, WFM, QCOM, LINT, CTSH, LIFE, NIHD, ATVI, VOD, SBUX, AKAM, ORCL, YHOO
TLT is down 58 cents and the Euro is up 21 pips in overnight trading…the Euro found support last Tuesday at the 1.3600 area which continues to hold…
NDX leaders AAPL, AMZN, BIDU, GOOG, PCLN and QCOM are quoting higher…PCLN is gapping higher after reporting earnings Monday after the close
Dave’s Insight for Tuesday: higher Euro…lower bonds…Financials higher…setting up a lhigher open …the SPX continued its support bounce on Monday…SPX price target is still 1,363 within the 10 week time window we mentioned when it broke out two weeks ago…use pull backs as new entry opportunities according to your rules…move stops to protect profits also according to your rules…Always follow YOUR rules at entry, exits and stops...
Chart Signals will be watching XLF, TNX and VIX today as key factors in any SPX move…
SPX
Resistance: 1,260, 1,273, 1,300
Support: 1,249, 1,230, 1,216
Quoting Down – FAZ, TLT, ESI, AIT, COH, URBN, LRCX, FAST, PCAR, EXPE
Quoting Up – PCLN, CF, URE, SINA, GMCR, TPX, CAT, NKE, WLT, GS, MCP, CLF, LNKD, MOS, ANR, CMG, POT, SLB, FCX, CREE, V, RVBD, HAL, DE, C, SWKS, VMW, X, FAS, CRM, LVS, CHL, HLF, ANF, FFIV, TBT, SOHU, JNPR, AAPL, GOG, AMZN, WYNN, BIDU, CTRP, JOYG, NFLX, FSLR, WFM, QCOM, LINT, CTSH, LIFE, NIHD, ATVI, VOD, SBUX, AKAM, ORCL, YHOO
Monday, November 7, 2011
SPX Rallies From Early Selloff to Close Higher...PCLN Up in After-Hours...
All nine sectors moved higher on Monday. XLV +1.18%, XLB +0.86% and XLP +0.84% were the strongest sectors.
The Euro was down 18 pips to 1.3774 at 5 pm EDT on Monday. TNX closed down -0.56 at 19.94. TLT was up 74 cents. Financials XLF was up 7 cents.
The broad indexes moved higher with the INDU +0.71%, SPX +0.63%, NDX +0.62 %, COMPQ +0.34% and RUT -0.18%. The SPX moved up +7.89 to close at 1,261.12. After pulling back and holding above Friday’s lows, the SPX resumed its support bounce and closed at Thursday’s high close.
Last week’s support bounce entries HON and X held at resistance while MOS and HAL resumed their support bounce.
The VIX moved down -0.31 to 29.85.
AMZN, GOOG and QCOM moved higher on Monday. AAPL, BIDU and PCLN moved lower. PCLN +13.48, +2.65% was up in after hours following earnings.
Breadth strengthened as advancers led decliners 1.23 to 1 on the NYSE and decliners led advancers 1.31 to 1 on the NASDAQ.
Exchange NYSE NASDAQ
Advancers 1,638 1,091
Decliners 1,329 1,437
Leading stocks > +2% on Monday CDE, MCP, UCO, SLW, FCX, HAL, SINA, A
Losing stocks < -2.0% included TPX, CIEN, ENTR, TSL, LNKD, CRUS, DECK, SWKS, ICE, JDSU
NDX 100 stocks stronger than the NDX included WCRX, AMGN, ESRX, YHOO, INTC, MSFT, GOOG, TEVA, URBN and GRMN.
Stocks weaker than the NDX include VRTX, FSLR, ERTS, WYNN, SHLD, DTV, BIDU, ALTR, MXIM and FAST.
Three NDX stocks AMGN, MSFT and YHOO moved above their 30 DMA making 80 NDX stocks above the 30 DMA.
Stocks to Watch on Tuesday
Holding Above 30 DMA = 78
IBM, ARUN, DECK, FFIV, SNDK, F, NKE, COH, ENTR, UNP, DHR, DOW, SMH, SWK, TIF, TPX, VMW, C, JNPR, NGLS, RCL, ZAGG, CAT, DLR, HLF, SWN, NTES, WLT, RVBD, SLB, UCO, AKS, FAS, GLW, GS, ZION, A, BAC, CIEN, URE, ATI, CF, CMG, DE, FCX, GES, HUM, ANR, HAL, PCX, STI, CDE, CLF, CRUS, MCP, SLW, SOHU, TSL, CRM, JDSU, LDK, LVS, X, IL, INFA, MOS, NDAQ, V, WDC, CREE, ICE, KKD, NVDA, POT, SINA, SWKS, VECO
Moving Above 30 DMA = 3
CHL, FWLT, TLT
Moving Below 30 DMA = 0
Staying Below 30 DMA
CSTR, LNKD, ANF, ESI, TBT, UAL, CROX, FAZ, GMCR
Five Week Intermediate Term Market Trend: Up
Short Term Market Trend: Up
The Euro was down 18 pips to 1.3774 at 5 pm EDT on Monday. TNX closed down -0.56 at 19.94. TLT was up 74 cents. Financials XLF was up 7 cents.
The broad indexes moved higher with the INDU +0.71%, SPX +0.63%, NDX +0.62 %, COMPQ +0.34% and RUT -0.18%. The SPX moved up +7.89 to close at 1,261.12. After pulling back and holding above Friday’s lows, the SPX resumed its support bounce and closed at Thursday’s high close.
Last week’s support bounce entries HON and X held at resistance while MOS and HAL resumed their support bounce.
The VIX moved down -0.31 to 29.85.
AMZN, GOOG and QCOM moved higher on Monday. AAPL, BIDU and PCLN moved lower. PCLN +13.48, +2.65% was up in after hours following earnings.
Breadth strengthened as advancers led decliners 1.23 to 1 on the NYSE and decliners led advancers 1.31 to 1 on the NASDAQ.
Exchange NYSE NASDAQ
Advancers 1,638 1,091
Decliners 1,329 1,437
Leading stocks > +2% on Monday CDE, MCP, UCO, SLW, FCX, HAL, SINA, A
Losing stocks < -2.0% included TPX, CIEN, ENTR, TSL, LNKD, CRUS, DECK, SWKS, ICE, JDSU
NDX 100 stocks stronger than the NDX included WCRX, AMGN, ESRX, YHOO, INTC, MSFT, GOOG, TEVA, URBN and GRMN.
Stocks weaker than the NDX include VRTX, FSLR, ERTS, WYNN, SHLD, DTV, BIDU, ALTR, MXIM and FAST.
Three NDX stocks AMGN, MSFT and YHOO moved above their 30 DMA making 80 NDX stocks above the 30 DMA.
Stocks to Watch on Tuesday
Holding Above 30 DMA = 78
IBM, ARUN, DECK, FFIV, SNDK, F, NKE, COH, ENTR, UNP, DHR, DOW, SMH, SWK, TIF, TPX, VMW, C, JNPR, NGLS, RCL, ZAGG, CAT, DLR, HLF, SWN, NTES, WLT, RVBD, SLB, UCO, AKS, FAS, GLW, GS, ZION, A, BAC, CIEN, URE, ATI, CF, CMG, DE, FCX, GES, HUM, ANR, HAL, PCX, STI, CDE, CLF, CRUS, MCP, SLW, SOHU, TSL, CRM, JDSU, LDK, LVS, X, IL, INFA, MOS, NDAQ, V, WDC, CREE, ICE, KKD, NVDA, POT, SINA, SWKS, VECO
Moving Above 30 DMA = 3
CHL, FWLT, TLT
Moving Below 30 DMA = 0
Staying Below 30 DMA
CSTR, LNKD, ANF, ESI, TBT, UAL, CROX, FAZ, GMCR
Five Week Intermediate Term Market Trend: Up
Short Term Market Trend: Up
Futures Point to a Slightly Lower Open...Watch for Support Bounce Continuation...
BMO – ES -2.50 and NQ -2.25 futures are lower about 17 minutes before the open in pre-market trading and point to a lower open…volume is light for pre-market with more stocks quoting down than up…Financial stocks, XLF is down 2 cents on 72,900 shares in pre-market at this time…
Reportedly Greek politicians have struck a deal to approve the bailout and the Italian bond yields have risen to recent highs fueling additional speculation there…
TLT is up 21 cents and the Euro is down 51 pips in overnight trading…the Euro found support last Tuesday at the 1.3600 area which continues to hold…
NDX leaders AAPL, AMZN, BIDU, GOOG and QCOM are quoting lower…PCLN is higher and reports earnings after the close...
Dave’s Insight for Monday: lower Euro…flat bonds…Financials down…setting up a lower open …market is holding above last Tuesday’s low and above Thursday’s S1 and low…it looks as if last week’s higher low will hold and expect stocks to continue their support bounce this week and perhaps as early as this morning…use pull backs as new entry opportunities according to your rules…move stops to protect profits also according to your rules…Always follow YOUR rules at entry, exits and stops...
Chart Signals will be watching XLF, TNX and VIX today as key factors in any SPX move…
SPX
Resistance: 1,260, 1,273, 1,300
Support: 1,249, 1,230, 1,216
Quoting Down – VMW, NTES, ESI, DLR, CF, CLF, GMCR, DE, LNKD, CRM, WLT, RVBD, SNDK, GS, NKE, NVDA, LVS, GOOG, BRTX, BIDU, WFM, AMAZN, ALXN, INFY, AAPL, MXIM, SNDK, NVDA
Quoting Up – CDE, DECK, SLW, TIF, FFIV, UCO, JNPR, FAZ, GES, ISRG, AMGN, PCLN, DLTR, NFLX, COST, NIHD, WYNN, JOYG, BRCM
Friday, November 4, 2011
SPX Pauses Following Another Volatile Week...
Check out Dave on tastytrade on Friday at the 122:00 listing, Click here: https://www.tastytrade.com/#/videos/20111104-fullshow
All nine sectors moved lower on Friday. XLE -0.08%, XLB -0.23% and XLY -0.37% were the strongest sectors.
The VIX moved down -0.34 to 30.16. The VIX did not confirm the move down in the SPX.
All nine sectors moved lower on Friday. XLE -0.08%, XLB -0.23% and XLY -0.37% were the strongest sectors.
The Euro was down 28 pips to 1.3792 at 5 pm EDT on Friday. TNX closed down -0.16 at 20.66. TLT was up 14 cents. Financials XLF was down 18 cents.
The broad indexes moved lower with the COMPQ -0.44%, NDX -0.48 %, INDU -0.51%, SPX -0.63% and RUT -0.67%. The SPX moved down -7.92 to close at 1,253.23. Stocks paused in their support bounce on Friday closing above Thursday’s S1 on the SPX. This is generally bullish continuation.
(click image to enlarge)
During this past week many stocks gave support bounce or bull flag entry signals. As shown above each of the broad indexes gave the signal on Thursday before pausing on Friday. Below the four stocks HON, X, MOS and HAL with bull flag setups that we alerted readers to Monday through Wednesday each gave entry signals.
(click image to enlarge)
PCLN and QCOM moved higher on Friday. AAPL, AMZN, BIDU and GOOG moved lower.
Breadth weakened as decliners led advancers 1.55 to 1 on the NYSE and 1.75 to 1 on the NASDAQ.
Exchange NYSE NASDAQ
Advancers 1,160 903
Decliners 1,798 1,586
Leading stocks > +2% on Friday VECO, CREE, SWKS, GMCR, X, MCP, AKS, ATI, FAZ, ANR, LDK, TSL, PCX, FFIV, IL, ARUN, CRUS
Losing stocks < -2.0% included ENTR, BAC, LNKD, FAS, GS, ZION
NDX 100 stocks stronger than the NDX included ILMN, SBUX, STX, GMCR, MCHP, ERTS, FSLR, ESRX, FFIV and MRVL.
Stocks weaker than the NDX include WCRX, NFLX, CMCSA, TEVA, DTV, MYL, DELL, INTC, ORCL and VMED.
Three NDX stocks BRCM, ILMN and SIRI moved above their 30 DMA making 78 NDX stocks above the 30 DMA.
Stocks to Watch on Monday
Holding Above 30 DMA = 77
IBM, ARUN, DECK, FFIV, SNDK, F, NKE, COH, ENTR, UNP, DHR, DOW, SMH, SWK, TIF, TPX, VMW, C, JNPR, NGLS, RCL, ZAGG, CAT, DLR, HLF, SWN, NTES, WLT, RVBD, SLB, UCO, AKS, FAS, GLW, GS, ZION, A, BAC, CIEN, URE, ATI, CF, CMG, DE, FCX, GES, HUM, ANR, HAL, PCX, STI, CDE, CLF, CRUS, MCP, SLW, SOHU, TSL, CRM, JDSU, LDK, LVS, X, IL, INFA, MOS, NDAQ, V, WDC, CREE, ICE, KKD, NVDA, POT, SINA, SWKS
Moving Above 30 DMA = 1
VECO
Moving Below 30 DMA = 3
CHL, CSTR, LNKD
Staying Below 30 DMA
ANF, TLTL, FWLT, ESI, TBT, UAL, CROX, FAZ, GMCR
Five Week Intermediate Term Market Trend: Up
Short Term Market Trend: Up
Futures Point to a Lower Open Following Jobs Report...
BMO – ES -9.75 and NQ -15.50 futures are lower about 20 minutes before the open in pre-market trading and point to a lower open…volume is moderate for pre-market with many more stocks quoting down than up…Financial stocks, XLF is down 19 cents on 139,900 shares in pre-market at this time…
Markets pause this morning following a employment report of 80,000 new jobs compared to 95,000 forecast with upward revisions to August and September of 102,000 more jobs that originally reported…Jobless rates drops to 9.0%...
TLT is down 22 cents and the Euro is down 21 pips in overnight trading…the Euro found support on Tuesday at the 1.3600 area which continues to hold…
LNDK -7.40, -8.46% down after earnings…
NDX leaders AAPL, AMZN, BIDU, GOOG, PCLN and QCOM are quoting lower…
Dave’s Insight for Friday: lower Euro…flat bonds…Financials down…setting up a lower open …this week’s pull back bounced for two days and is now set to pause at the open…move stops to protect profits…Always follow YOUR rules...
Chart Signals will be watching XLF, TNX and VIX today as key factors in any SPX move…
SPX
Resistance: 1,260, 1,273, 1,300
Support: 1,249, 1,230, 1,216
Quoting Down – LNKD, ATI, VMW, GS, SWKS, DECK, IBM, TIF, HLF, COH, CRM, CHL, ANF, CAT, ESI, DE, CF, SINA, CSTR, POT, SLB, CAT, GMCR,FAS, X, FFIV, URE, MOS, HAL, CMG, SLW, V, LVS, C, TLT, IL, FCX, FWLT, GOOG, AMZN, AAPL, PCLN, WYNN, BIDU, EBAY, NFLX, ROST, EXPE, CTXS, BIIB, QCOM, TEVA
Quoting Up – FAZ, GES, VECO, XLNX, SBUX, FSLR
Thursday, November 3, 2011
SPX Continues Support Bounce on Strength in Energy and Technology...
Jobless claims came in at 397,000 less than the 400,000 forecasted. The Unemployment report will be out Friday morning.
All nine sectors moved higher on Thursday. XLE +2.63%, XLI +2.45% and XLK +2.38% were the strongest sectors.
All nine sectors moved higher on Thursday. XLE +2.63%, XLI +2.45% and XLK +2.38% were the strongest sectors.
The Euro was up 76 pips to 1.3820 at 5 pm EDT on Thursday. TNX closed up +0.60 at 20.66. TLT was down -1.62. Financials XLF was up 23 cents.
The broad indexes moved higher with the RUT +2.49%, COMPQ +2.20%, NDX +2.13 %, SPX +1.88% and INDU +1.76%. The SPX moved up +23.25 to close at 1,261.15. Stocks continued their support bounce on Thursday moving towards their recent high on Oct 27.
The VIX moved down -2.24 to 30.50.
AAPL, AMZN, BIDU, GOOG, PCLN and QCOM moved higher on Thursday.
Breadth weakened slightly as advancers led decliners 3.56 to 1 on the NYSE and 2.89 to 1 on the NASDAQ.
Exchange NYSE NASDAQ
Advancers 2,354 1,889
Decliners 661 652
Leading stocks > +2% on Thursday ANR, KKD, GMCR, IL, SWKS, CREE, NVDA, FAS, ESI, CDE, INFA, FWLT, SLB, VECO, ICE, WDC, RVBD, ENTR, AKS, UCO, TPX, LNKD, HAL, SWK, CSTR, RCL, SLW, CRUS, C, VMW, SMH, CF, GLW, BAC, SINA, ATI, TBT, A, ARUN, SNDK, UNP, NDAQ, CRM, CMG, URE, SWN, DE, X, DOW, FFIV, CAT, COH, NTES, ZION, CIEN, POT
Losing stocks < -2.0% included ANF, FAZ, ZAGG, LDK, GES, TSL
NDX 100 stocks stronger than the NDX included NFLX, GMCR, MU, QCOM, QGEN, DTV, NVDA, TEVA, AKAM and FAST.
Stocks weaker than the NDX include WFM, SIRI, ALXN, VRTX, RIMM, CTRP, SHLD, GILD, NWSA and CHKP.
Seven NDX stocks including EBAY, MSFT, NVDA, and YHOO moved above their 30 DMA making 79 NDX stocks above the 30 DMA.
Stocks to Watch on Friday
Holding Above 30 DMA = 72
IBM, ARUN, DECK, FFIV, SNDK, F, NKE, COH, ENTR, UNP, DHR, DOW, SMH, SWK, TIF, TPX, VMW, C, JNPR, NGLS, RCL, ZAGG, CAT, DLR, HLF, LNKD, SWN, NTES, WLT, RVBD, SLB, UCO, AKS, FAS, GLW, GS, ZION, A, BAC, CIEN, URE, ATI, CF, CMG, DE, FCX, GES, HUM, ANR, HAL, PCX, STI, CDE, CLF, CRUS, MCP, SLW, SOHU, TSL, CRM, JDSU, LDK, LVS, X, CHL, IL, INFA, MOS, NDAQ, V, WDC
Moving Above 30 DMA = 8
CREE, CSTR, ICE, KKD, NVDA, POT, SINA, SWKS
CREE, CSTR, ICE, KKD, NVDA, POT, SINA, SWKS
Moving Below 30 DMA = 2
ANF, TLT
Staying Below 30 DMA
FWLT, ESI, TBT, VECO, UAL, CROX, FAZ, GMCR
Four Week Intermediate Term Market Trend: Up
Short Term Market Trend: Up
Futures Point to a Higher Open...
BMO – ES +18.00 and NQ +20.50 futures are higher about 30 minutes before the open in pre-market trading and point to a higher open…volume is moderate for pre-market with many more stocks quoting up than down…Financial stocks, XLF is up 22 cents on 136,100 shares in pre-market at this time…
TLT is down -1.50 and the Euro is up 25 pips in overnight trading…the Euro found support which continues to hold…
NDX leaders AAPL, AMZN, BIDU, GOOG, PCLN and QCOM are quoting higher…
QCOM and ANR are gapping up following earnings…WFM is gapping lower…
Dave’s Insight for Thursday: higher Euro…lower bonds…Financials up…setting up a higher open …this week’s drool zone looks to pay off big…bull flag setups…time to enter as entry signals occur…time to exit short term bearish trades to protect profits as they break above the high of the low day…Always follow YOUR rules...
Chart Signals will be watching XLF, TNX and VIX today as key factors in any SPX move…U.S.
SPX
Resistance: 1,249, 1,260, 1,273, 1,300
Support: 1,230, 1,216, 1,205
Quoting Down – ANF, FAZ, TLT, CHL, WFM
Quoting Up – ANR, CF, LNKD, SINA, CRM, FFIV, VMW, IBM, CAT, GS, CLF, DECK, UCO, SLB, POT, FCX, URE, HAL, SWKS, SLW, CDE, MOS, C, RCL, SOHU, FAS, RVBD, GMCR, LVS, CIEN, X, PCX, TBT, CREE, COH, MCP, JDSU, LNG, HLF, WLT, JNPR, GLW, QCOM, GOOG, BIDU, AMZN, VRTX, FFIV, AAPL, WYNN, NFLX, FSLR, QGEN, FAS, STX, TEVA, NWSA, AKAM, MRVL
Wednesday, November 2, 2011
SPX, Euro, Financials Higher, Fed Stays Course, QCOM Gaps Up After-hours...
All nine sectors moved higher on Wednesday. XLE +3.01%, XLF +2.95% and XLB +2.48% were the strongest sectors.
AAPL, AMZN, BIDU, GOOG, PCLN and QCOM moved higher on Wednesday. After the close QCOM +4.97, 9.52% gaps up after reporting earnings. WFM -3.06, -4.34% gaps down after reporting earning.
The VIX moved down -2.03 to 32.74.
CHL , IL
The Euro was up 50 pips to 1.3744 at 5 pm EDT on Wednesday. TNX closed up +0.05 at 20.06. TLT was down -1.49. Financials XLF was up 38 cents.
The broad indexes moved higher with the RUT +2.71%, SPX +1.61%, INDU +1.53%, COMPQ +1.27%, and NDX +0.87 %. The SPX moved up +19.62 to close at 1,237.90. The RUT formed a bullish engulfing while the SPX and INDU formed a bullish harami.
(click image to enlarge)
The SPY and many individual stocks closed above the high of the low day creating an exit for short-term bearish trades and an entry for support bounce bullish trades. Many of the hammers, doji, bullish harami and other bullish candle patterns that we observed Tuesday evening confirmed on Wednesday.
The Fed announced they are staying on their current course of a low interest rate accommodative policy. Stocks moved higher following the announcement.
The adjusted HON paper-trade order filled on Wednesday and the call option finished up 5 cents. E = 52.28, S = 50.16, T2 = 56.25
Our X paper-trade order also filled with the NOV 26 call option closing up 24 cents. We also sold weekly puts at 45 cents which dropped almost 30 cents with very nice results for the day. E = 25.39, S = 23.14, T2 = 31.80
Flag Setups for Thursday paper-trade:
MOS E = 57.59, S = 53.89, T1 = 62.65
HAL E = 36.68, S = 33.67, T1 = 39.62
(click image to enlarge)
The VIX moved down -2.03 to 32.74.
Breadth strengthened as advancers led decliners 6.41 to 1 on the NYSE and 3.47 to 1 on the NASDAQ.
Exchange NYSE NASDAQ
Advancers 2,542 1,958
Decliners 396 563
Leading stocks > +2% on Wednesday JDSU, FAS, ENTR, CF, RVBD, PCX, UCO, GES, BAC, URE, TBT, X, ANR, TSL, CIEN, STI, SLW, SWK, AKS, C, RCL, HUM, CRUS, POT, ZION, CREE, DOW, V, LVS, TPX, GS, NGLS, KKD, SOHU, SINA, A, HAL, ATI, SWN, DHR, FFIV, CDE, MOS
Losing stocks < -2.0% included FWLT, FAZ, ESI
NDX 100 stocks stronger than the NDX included NIHD, ERTS, GRMN, AKAM, NFLX, BIDU, QCOM, FFIV, CTRP and CHKP.
Stocks weaker than the NDX include SIRI, QGEN, VRTX, XLNX, RIMM, NVDA, ALTR, CTSH, AMGN and APOL.
Eight NDX stocks including AAPL, DELL, ERTS, EXPE, PCLN, QCOM and WYNN moved above their 30 DMA making 73 NDX stocks above the 30 DMA.
Stocks to Watch on Thursday
Holding Above 30 DMA = 67
IBM, ARUN, DECK, FFIV, SNDK, F, NKE, ANF, COH, ENTR, UNP, DHR, DOW, SMH, SWK, TIF, TPX, VMW, C, JNPR, NGLS, RCL, ZAGG, CAT, DLR, HLF, LNKD, SWN, NTES, WLT, RVBD, SLB, UCO, AKS, FAS, GLW, GS, ZION, A, BAC, CIEN, URE, ATI, CF, CMG, DE, FCX, FWLT, GES, HUM, ANR, HAL, PCX, STI, CDE, CLF, CRUS, MCP, SLW, SOHU, TSL, CRM, JDSU, LDK, LVS, X, TLT
Moving Above 30 DMA = 7
Moving Below 30 DMA = 0
Staying Below 30 DMA
CSTR, ICE, KKD, NVDA, CREE, ESI, POT, SINA, TBT, VECO, SWKS, UAL, CROX, FAZ, GMCR
Four Week Intermediate Term Market Trend: Up
Short Term Market Trend: Neutral
Futures Point to a Higher Open as Euro Bounces...
BMO – ES +7.75 and NQ +12.50 futures are higher about 28 minutes before the open in pre-market trading and point to a higher open…volume is light to moderate for pre-market with many more stocks quoting up than down…Financial stocks, XLF is up 22 cents on 298,900 shares in pre-market at this time…
Two day FOMC announcement at 2:15 pm EDT today…
TLT is down -2.57 and the Euro is up 97 pips in overnight trading…the Euro found support yesterday morning, at least temporarily, notwithstanding the news…is that possible?
NDX leaders AAPL, AMZN, BIDU, GOOG, PCLN and QCOM are quoting lower…
Dave’s Insight for Wednesday: higher Euro…lower bonds…Financials up…setting up a higher open …we are in the drool zone…bull flag setups…time to be ready if entry signals occur…time to adjust stops on short term bearish trades to protect profits with a break above the high of the low day…Always follow YOUR rules...
Chart Signals will be watching XLF, the Euro, TLT, TNX and VIX today as key factors in any SPX move…U.S. traders were buying the support level on Tuesday (which we mentioned to watch for in Tuesday morning’s post) as can be easily seen in many of the neutral to positive candles on stock charts last night…
SPX
Resistance: 1,230, 1,249, 1,260
Support: 1,216, 1,205, 1,177
Quoting Down – FAZ, TLT, FWLT, CTSH, ISRG, INFY, CERN, TEVA, ORLY
Quoting Up – CMG, FFIV, CRM, SOHU, DECK, GS, V, SINA, GMCR, CLF, COH, ICE, NKE, URE, SLB, IBM, CAT, HLF, UCO, HAL, LNKD, MOS, VMW, FCX, RVBD, HUM, CF, JDSU, ANR, C, LVS, FAS, POT, MCP, X, NDAQ, SLW, SNDK, JNPR, DOW, ANF, WDC, CSTR, DLR, CDE, ATI, PCX, ESI, RCL, CROX, UAL, AKS, STI, CIEN, PCLN, GOOG, FFIV, GRMN, MXIM, WYNN, AAPL, BIDU, AMZN, SIAL, GMCR, INTU, FSLR, ADP, XRAY, NFLX, COST,ALXN, WFM, ADSK, VRTX, LLTC, JOYG, QCOM, URBN, APOL, CA, EBAY, BIIB, NWSA, BRCM
Tuesday, November 1, 2011
EU Fears (Speculation) Sends Euro, Stocks Lower Again...
Another speculative selloff on Tuesday. All nine sectors moved lower on Tuesday. XLP -1.74%, XLV -1.91% and XLU -2.09% were the strongest sectors.
The Euro continued to fall Monday evening and was already down 221 pips at 9:30 am EDT when U.S. Greece
The Euro was down 160 pips to 1.3695 at 5 pm EDT up from its overnight low of 1.3670 at 6:28 am EDT. TNX closed down -1.74 at 20.01. TLT was up +3.57. Financials XLF was down 63 cents.
The broad indexes formed day three of a bull flag pattern with the SPX reaching a 78.6% Fib retracement from the Oct 18 low. The broad indexes moved lower with the INDU -2.48%, NDX -2.61%, SPX -2.79%, COMPQ -2.89%, and RUT -3.67%. The SPX moved down -35.02 to close at 1,218.28.
(click image to enlarge)
Typically following a strong down day in a potential bull flag formation a smaller range day will form in the form of a hammer, doji, bullish harami or other bullish candle pattern that sets up a potential entry signal at a lower level than the large down day’s high. We see that type of formation on the SPY and many individual stocks on Tuesday.
The two day FOMC meeting announcement will be released about 2:15 pm EDT on Wednesday.
Our Monday night paper trade did not fill on Tuesday as HON moved lower. Time to adjust the HON order based on Tuesday price candle: E = 52.28, S = 50.16, T2 = 56.25
The two day FOMC meeting announcement will be released about 2:15 pm EDT on Wednesday.
Our Monday night paper trade did not fill on Tuesday as HON moved lower. Time to adjust the HON order based on Tuesday price candle: E = 52.28, S = 50.16, T2 = 56.25
New paper trade X = E = 25.39, S = 23.14, T2 = 31.80
(click image to enlarge)
The VIX moved up +4.81 to 34.77.
AAPL, AMZN, BIDU, GOOG, PCLN and QCOM moved lower on Tuesday. QCOM reports earnings after the close on Wednesday.
Breadth weakened as decliners led advancers 5.84 to 1 on the NYSE and 5.27 to 1 on the NASDAQ.
Exchange NYSE NASDAQ
Advancers 445 409
Decliners 2,603 2,158
Leading stocks > +2% on Tuesday FAZ, TLT
Losing stocks < -2.0% included FAS, IL, PCX, ENTR, RCL, C, HLF, URE, RVBD, TBT, BAC, HAL, GS, KKD, VECO, LDK, F, ICE, TSL, NVDA, STI, JNPR, A, MOS, FWLT, GES, SINA, JDSU, GMCR, TPX, AKS, ZION, INFA, ANR, FCX, SWKS, POT, V, COH, TIF, X, SNDK, FFIV, ZAGG, SLB, ARUN, DECK, UCO, CAT, SWK, DE, SWN, SMH, GLW, UNP, NDAQ, CREE, ATI, NKE, CRUS, CSTR, CMG, NTES, CF, UAL, ESI, CRM, DHR, SOHU
NDX 100 stocks stronger than the NDX included EXPE, STX, ORLY
Stocks weaker than the NDX include HSIC, FSLR, MU, CSCO, MYL, NVDA, NWSA, ADSK, MCHP and SPLS.
Fifteen NDX stocks including AAPL, AMGN, BRCM, DELL, MSFT, NVDA, PCLN, WYNN and YHOO moved below their 30 DMA leaving 66 NDX stocks above the 30 DMA.
Stocks to Watch on Wednesday
Holding Above 30 DMA = 66
IBM, ARUN, DECK, FFIV, SNDK, F, NKE, ANF, COH, ENTR, UNP, DHR, DOW, SMH, SWK, TIF, TPX, VMW, C, JNPR, NGLS, RCL, ZAGG, CAT, DLR, HLF, LNKD, SWN, NTES, WLT, RVBD, SLB, UCO, AKS, FAS, GLW, GS, ZION, A, BAC, CIEN, URE, ATI, CF, CMG, DE, FCX, FWLT, GES, HUM, ANR, HAL, PCX, STI, CDE, CLF, CRUS, MCP, SLW, SOHU, TSL, CRM, JDSU, LDK, LVS, X
Moving Above 30 DMA = 1
TLT
Moving Below 30 DMA = 9
CSTR, ICE, IL, INFA, KKD, MOS, NDAQ, NVDA, V
Staying Below 30 DMA
CREE, ESI, POT, SINA, TBT, VECO, WDC, CHL, SWKS, UAL, CROX, FAZ, GMCR
Four Week Intermediate Term Market Trend: Up
Short Term Market Trend: DownFutures Point to a Lower Open Following Weak Euro as Debt Fears Rekindle...
1:35 pm EDT - intra-day reversal pattern on Euro...
BMO – ES -37.00 and NQ -58.50 futures are lower about 25 minutes before the open in pre-market trading and point to a lower open…volume is moderate for pre-market with more stocks quoting down than up…Financial stocks, XLF is down 57 cents on 604,400 shares in pre-market at this time…
BMO – ES -37.00 and NQ -58.50 futures are lower about 25 minutes before the open in pre-market trading and point to a lower open…volume is moderate for pre-market with more stocks quoting down than up…Financial stocks, XLF is down 57 cents on 604,400 shares in pre-market at this time…
Two day FOMC meeting this week…
TLT is up 3.19 and the Euro is down 243 pips in overnight trading …
NDX leaders AAPL, AMZN, BIDU, GOOG, PCLN and QCOM are quoting lower…
Dave’s Insight for Tuesday: lower Euro in overnight trading is dragging futures lower…leading to stronger bonds…Financials down…setting up a lower open …continued selling is occurring on the weaker Euro…Protect your profits and move stops according to your rules…Bearish trades? With a break below the low of the high day take them according to your rules...
Watch XLF and breadth as key factors in any SPX move…Watch to see when U.S.
SPX
Resistance: 1,230, 1,249, 1,260
Support: 1,216, 1,205, 1,177
Quoting Down – CMG, CF, GS, DECK, SINA, CRM, SOHU, CAT, WLT, FFIV, CLF, LNKD, HLF, SLB, VMW, NKE, IBM, ICE, DE, GMCR, UNP, V, ATI, HUM, MOS, UCO, FCX, C, ANF, POT, TIF, MCP, HAL, TPX, RCL, X, SLW, URE, FAS, ANR, LVS, CDE, A, DOW, SWN, DHR, RVBD, SNDK, CSTR, TBT, DLR, STI, SWKS, JNPR, PCX, WDC, CRUS, PCLN, GOOG, AAPL, BIDU, AMZN, HSIC, FFIV, WYNN, JOYG, GMCR, JOYG, FSLR, VRTX, NFLX, CTXS, COST, CTSH, QCOM, CTRP, TEVA, KLAC, ILMN, BBBY, CERN, ADP, SBUX, ROS, WFM, ADBE, VMWED, NTAP, AKAM, ERTS
Quoting Up – FAZ, TLT, CHL
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