BMO – ES -0.50 and NQ -4.50 futures are lower about 7 minutes before the open in pre-market trading and point to a mixed open…volume is moderate for pre-market with more stocks quoting up than down…Financial stocks, XLF is down 1 cent on 83,400 shares in pre-market at this time…
TLT is down 75 cents and the Euro is up 10 pips in overnight trading …
NDX leaders AAPL, AMZN, GOOG, PCLN and QCOM are quoting higher… BIDU is lower…
After earnings
Gap Down: CRUS, EBAY, LRCX, WDC and WYNN
Gap Up: ALXN, RVBD
Oct 17 – 21 Earnings Highlights of Interest:
Monday – C, HAL, HAS, IBM, SWK, STLD, VMW, WFC
Tuesday – AAPL, BAC, CHKP, CREE, CSX, INTC, ISRG, JNJ, JNPR, LLTC, STT
Wednesday – AXP, AMR, APOL, CRUS, EBAY, FCX, LRCX, RVBD, TRV, UAL, UTX, WDC, WYNN, XLNX
Thursday – ALXN, ALTR, T, CY, FLEX, INFA, ESI, KELY, MXIM, MSFT, PCX, SNDK, ST, TPX
Friday – MCD, SLB, STI, VZ
Dave’s Insight for Thursday: slightly higher Euro…weaker bonds…Financials flat…setting up a flat open …With the SPX still in the 6 day 1,200 to 1,225 trading range, watch for a signs of a potential breakout of either side of the range … Follow your entry signals and take trades according to your rules…Watch XLF, TNX, volume and breadth as key factors in any SPX move…move stops on profitable trades…Trade Gaps that meet your rules…
SPX
Resistance: 1,216, 1,230, 1,249
Support: 1,205, 1,177, 1,160
Quoting Down – WYNN, BIDU, CRUS, WDC, FAZ, TLT, SINA, NVDA, LRCX, EBAY, CTSH, KLAC, MRVL
Quoting Up – ALXN, PCLN, RVBD, ESI, WLT, FFIV, MCP, HLF, CRM, IBM, CLF, CMG, POT, DE, RCL, CAT, MOS, SLB, ARUN, DECK, V, GMCR, PCX, C, HAL, JNPR, TBT, SWN, FAS, GS, FCX, GOOG, AAPL, HSIC, NFLX, AMZN, ISRG, VOD, DLTR, CERN, QCOM, JOYG
Thursday, October 20, 2011
Wednesday, October 19, 2011
SPX, AAPL Move Lower as ISRG, APOL and INTC Move Higher...
Dave is traveling to Chicago to speak Thursday evening with Tom Sosnoff in the Tom and Dave show and Friday morning on Trading the Trend, Know When to Exit at the Chicago World Money Show. Attendance is free. So come join us if you are in the area.
Eight of nine sectors moved lower on Wednesday. XLU +0.09%, XLV -0.18% and XLP -0.29% were the strongest sectors.
On Wednesday the Euro after reaching as high as 1.3870 was up 7 pips to 1.3758 at 5 pm EDT. TNX closed up +0.08 at 21.59. TLT was down -4 cents. Financials XLF was down -18 cents.
AAPL -23.62, -5.59% fell after earnings of 7.05 vs. estimates of 7.39 which were up 54% from a year earlier, revenues of $28.27 billion vs. estimates of 29.7 billion were affected by iPhone sales below expectations.
INTC +0.84, +3.59% reported 65 cents vs. estimates of 61 cents on record revenues, strong growth rates and raised Q4 guidance.
APOL and TRV closed higher following earnings.
After the close CRUS, EBAY, LRCX, WDC and WYNN were lower after reporting earnings. RVBD was higher
Oct 17 – 21 Earnings Highlights of Interest:
Monday – C, HAL, HAS, IBM, SWK, STLD, VMW, WFC
Tuesday – AAPL, BAC, CHKP, CREE, CSX, INTC, ISRG, JNJ, JNPR, LLTC, STT
Wednesday – AXP, AMR, APOL, CRUS, EBAY, FCX, LRCX, RVBD, TRV, UTX, WDC, WYNN, XLNX
Thursday – ALXN, ALTR, T, CY, FLEX, INFA, ESI, KELY, MXIM, MSFT, PCX, SNDK, ST, TPX
Friday – MCD, SLB, STI, VZ
The broad indices moved lower with the RUT -2.11%, NDX -2.03%, COMPQ -2.01%, SPX -1.26% and INDU -0.63%. The SPX moved down -15.50 and closed at 1,209.88. The VIX moved up +2.88 to 34.44.
AAPL, AMZN, BIDU, GOOG, PCLN and QCOM all moved lower on Wednesday.
With the intra-day reversal in the Euro and interest rates the SPX could not overcome sellers and weakness in AAPL and moved down while staying inside its six day trading range between 1,200 – 1,225.
Breadth weakened as decliners led advancers 2.61 to 1 on the NYSE and 3.13 to 1 on the NASDAQ.
Exchange NYSE NASDAQ
Advancers 837 619
Decliners 2,190 1,942
Leading stocks > +2% on Wednesday FAZ
Losing stocks < -2.0% included GMCR, CREE, WDC, TSL, SLW, CLF, ARUN, X, PCX, JNPR, CRUS, CDE, SWKS, ENTR, UCO, CROX, MCP, FAS, ZAGG, JDSU, AKS, DOW, CIEN, LVS, V, HAL, ANR, ATI, IL, SNDK, MOS, POT, KKD, BAC, LDK, CF, ZION, RCL, SINA, VMW, STI, CMG, SLB, FWLT, RVBD, FCX, COH, GLW, SOHU, DECK, URE, ANF, FFIV, DHR, UAL, INFA, TPX, NVDA
NDX 100 stocks stronger than the NDX included ISRG, APOL, INTC, YHOO, WFM, LIFE, WCRX, QGEN, XRAY and ROST.
Stocks weaker than the NDX include GMCR, FSLR, MRVL, AAPL, WYNN, FLEX, AMZN, ALTR, BIDU and MU.
Four NDX stocks ALTR, BIDU, ESRX and XLNX moved below their 30 DMA leaving 75 NDX stocks above the 30 DMA.
Stocks to Watch on Thursday
Holding Above 30 DMA = 51
IBM, ARUN, DECK, FFIV, ICE, INFA, SNDK, CRUS, CSTR, F, NDAQ, NKE, ANF, COH, ENTR, NVDA, UNP, CRM, DHR, DOW, SMH, SWK, TIF, TPX, UAL, V, VMW, C, JNPR, NGLS, RCL, ZAGG, CAT, DLR, HLF, LNKD, SWKS, SWN, NTES, WLT, RVBD, SLB, UCO, AKS, FAS, FWLT, GLW, GS, STI, TBT, ZION
Moving Above 30 DMA = 1
ESI
Moving Below 30 DMA = 7
A, BAC, CIEN, CMG, GES, LVS, URE
Staying Below 30 DMA
CROX, CREE, HAL, HUM, POT, SINA, WDC, TLT, FAZ, GMCR, CHL, IL, JDSU, SLW, DE, ATI, CF, KKD, MOS, CDE, CLF, MCP, PCX, SOHU, TSL, BAC, VECO, LDK, FCX, ANR, X
Ten Week Intermediate Term Market Trend: Neutral
Short Term Market Trend: Neutral
Eight of nine sectors moved lower on Wednesday. XLU +0.09%, XLV -0.18% and XLP -0.29% were the strongest sectors.
On Wednesday the Euro after reaching as high as 1.3870 was up 7 pips to 1.3758 at 5 pm EDT. TNX closed up +0.08 at 21.59. TLT was down -4 cents. Financials XLF was down -18 cents.
AAPL -23.62, -5.59% fell after earnings of 7.05 vs. estimates of 7.39 which were up 54% from a year earlier, revenues of $28.27 billion vs. estimates of 29.7 billion were affected by iPhone sales below expectations.
INTC +0.84, +3.59% reported 65 cents vs. estimates of 61 cents on record revenues, strong growth rates and raised Q4 guidance.
APOL and TRV closed higher following earnings.
After the close CRUS, EBAY, LRCX, WDC and WYNN were lower after reporting earnings. RVBD was higher
Oct 17 – 21 Earnings Highlights of Interest:
Monday – C, HAL, HAS, IBM, SWK, STLD, VMW, WFC
Tuesday – AAPL, BAC, CHKP, CREE, CSX, INTC, ISRG, JNJ, JNPR, LLTC, STT
Wednesday – AXP, AMR, APOL, CRUS, EBAY, FCX, LRCX, RVBD, TRV, UTX, WDC, WYNN, XLNX
Thursday – ALXN, ALTR, T, CY, FLEX, INFA, ESI, KELY, MXIM, MSFT, PCX, SNDK, ST, TPX
Friday – MCD, SLB, STI, VZ
The broad indices moved lower with the RUT -2.11%, NDX -2.03%, COMPQ -2.01%, SPX -1.26% and INDU -0.63%. The SPX moved down -15.50 and closed at 1,209.88. The VIX moved up +2.88 to 34.44.
AAPL, AMZN, BIDU, GOOG, PCLN and QCOM all moved lower on Wednesday.
With the intra-day reversal in the Euro and interest rates the SPX could not overcome sellers and weakness in AAPL and moved down while staying inside its six day trading range between 1,200 – 1,225.
Breadth weakened as decliners led advancers 2.61 to 1 on the NYSE and 3.13 to 1 on the NASDAQ.
Exchange NYSE NASDAQ
Advancers 837 619
Decliners 2,190 1,942
Leading stocks > +2% on Wednesday FAZ
Losing stocks < -2.0% included GMCR, CREE, WDC, TSL, SLW, CLF, ARUN, X, PCX, JNPR, CRUS, CDE, SWKS, ENTR, UCO, CROX, MCP, FAS, ZAGG, JDSU, AKS, DOW, CIEN, LVS, V, HAL, ANR, ATI, IL, SNDK, MOS, POT, KKD, BAC, LDK, CF, ZION, RCL, SINA, VMW, STI, CMG, SLB, FWLT, RVBD, FCX, COH, GLW, SOHU, DECK, URE, ANF, FFIV, DHR, UAL, INFA, TPX, NVDA
NDX 100 stocks stronger than the NDX included ISRG, APOL, INTC, YHOO, WFM, LIFE, WCRX, QGEN, XRAY and ROST.
Stocks weaker than the NDX include GMCR, FSLR, MRVL, AAPL, WYNN, FLEX, AMZN, ALTR, BIDU and MU.
Four NDX stocks ALTR, BIDU, ESRX and XLNX moved below their 30 DMA leaving 75 NDX stocks above the 30 DMA.
Stocks to Watch on Thursday
Holding Above 30 DMA = 51
IBM, ARUN, DECK, FFIV, ICE, INFA, SNDK, CRUS, CSTR, F, NDAQ, NKE, ANF, COH, ENTR, NVDA, UNP, CRM, DHR, DOW, SMH, SWK, TIF, TPX, UAL, V, VMW, C, JNPR, NGLS, RCL, ZAGG, CAT, DLR, HLF, LNKD, SWKS, SWN, NTES, WLT, RVBD, SLB, UCO, AKS, FAS, FWLT, GLW, GS, STI, TBT, ZION
Moving Above 30 DMA = 1
ESI
Moving Below 30 DMA = 7
A, BAC, CIEN, CMG, GES, LVS, URE
Staying Below 30 DMA
CROX, CREE, HAL, HUM, POT, SINA, WDC, TLT, FAZ, GMCR, CHL, IL, JDSU, SLW, DE, ATI, CF, KKD, MOS, CDE, CLF, MCP, PCX, SOHU, TSL, BAC, VECO, LDK, FCX, ANR, X
Ten Week Intermediate Term Market Trend: Neutral
Short Term Market Trend: Neutral
Futures Point to a Mixed Open...AAPL, Bonds Down, INTC, ISRG, Euro Up...
BMO – ES -1.00 and NQ -14.00 futures are lower about 20 minutes before the open in pre-market trading and point to a mixed open…volume is moderate for pre-market with slightly more stocks quoting down than up…Financial stocks, XLF is up 3 cents on 63,500 shares in pre-market at this time…
Housing starts up 15% in September, strongest in 17 months, CPI increased only 0.1% in September…
TLT is down 85 cents and the Euro is up 115 pips in overnight trading …
NDX leaders AAPL, AMZN, BIDU, GOOG and QCOM are quoting lower… PCLN no volume…
AAPL -20.93, -4.93%, announced earnings after the close on Tuesday of 7.05 vs. estimates of 7.39 were up 54% from a year earlier, revenues of $28.27 billion vs. estimates of 29.7 billion were affected by iPhone sales below expectations.
INTC +0.89, +3.80% reported 65 cents vs. estimates of 61 cents on record revenues, strong growth rates and raised Q4 guidance.
ISRG +26.21, +6.85% after earnings
MS +0.49, +2.95% also after earnings..
Oct 17 – 21 Earnings Highlights of Interest:
Monday – C, HAL, HAS, IBM, SWK, STLD, VMW, WFC
Tuesday – AAPL, BAC, CHKP, CREE, CSX, INTC, ISRG, JNJ, JNPR, LLTC, STT
Wednesday – AXP, AMR, APOL, CRUS, EBAY, FCX, LRCX, RVBD, TRV, UAL, UTX, WDC, WYNN, XLNX
Thursday – ALXN, ALTR, T, CY, FLEX, INFA, ESI, KELY, MXIM, MSFT, PCX, SNDK, ST, TPX
Friday – MCD, SLB, STI, VZ
Dave’s Insight for Wednesday: higher Euro…weaker bonds…Financials up…AAPL down…setting up a mixed open …With the SPX at the 1,225 resistance, watch for a potential breakout …SPX is in a 5 day trading range of 1,200 – 1,225…Follow your entry signals and take trades according to your rules…Watch XLF, TNX, volume and breadth as key factors in any SPX move…move stops on profitable trades…
SPX
Resistance: 1,216, 1,230, 1,249
Support: 1,205, 1,177, 1,160
Quoting Down – AAPL, PCLN, BIDU, AMZN, LLTC, LNKD, VMW, CREE, TLT, GS, SNDK, SINA, FAZ, SWKS, STI, LVS, RCL, NFLX, WYNN, QCOM, GOOG, BRCM
Quoting Up – ISRG, APOL, WFM, EBAY, CTXS, INTC, FCX, WDC, V, CAT, GMCR, CROX, TBT, UCO, YHOO, SHLD, NTAP, ESRX, STX
Tuesday, October 18, 2011
SPX Rallies Back to Resistance, New High Close...AAPL Down -28 After EPS Miss...
All nine sectors moved higher on Tuesday. XLF +4.75%, XLE +3.21% and XLI +2.88% were the strongest sectors.
On Tuesday the Euro was up 13 pips to 1.3751. TNX rallied from its low and closed down -0.04 at 21.51. TLT was down 72 cents. Financials XLF soared 58 cents.
AAPL -28.19, -6.68% after-hours, announced earnings after the close on Tuesday of 7.05 vs. estimates of 7.39 were up 54% from a year earlier, revenues of $28.27 billion vs. estimates of 29.7 billion were affected by iPhone sales below expectations.
INTC +1.04, +4.44% after-hours after reported 65 cents vs. estimates of 61 cents on record revenues, strong growth rates and raised Q4 guidance.
Oct 17 – 21 Earnings Highlights of Interest:
Monday – C, HAL, HAS, IBM, SWK, STLD, VMW, WFC
Tuesday – AAPL, BAC, CHKP, CREE, CSX, INTC, ISRG, JNJ, JNPR, LLTC, STT
Wednesday – AXP, AMR, APOL, CRUS, EBAY, FCX, LRCX, RVBD, TRV, UAL, UTX, WDC, WYNN, XLNX
Thursday – ALXN, ALTR, T, CY, FLEX, INFA, ESI, KELY, MXIM, MSFT, PCX, SNDK, ST, TPX
Friday – MCD, SLB, STI, VZ
AAPL, AMZN, GOOG, PCLN and QCOM all moved higher on Tuesday. BIDU moved lower.
AAPL, AMZN, GOOG, PCLN and QCOM all moved higher on Tuesday. BIDU moved lower.
The broad indices moved higher with the RUT +3.01%, SPX +2.04%, COMPQ +1.63, INDU +1.58%, and NDX +1.31%. The SPX moved up +24.52 and closed at 1,225.38. The VIX moved down -1.83 to 31.56.
The SPX has spent five days at 1,200 - 1,225 horizontal resistance area, the longest time in the past 10 weeks. To breakout the SPX will need the support of the financials, which it had today.
(click image to enlarge)
Many stocks that on Monday broke the low of the high day rallied above their Friday close, reversing, at least temporarily the short term bearish entry. Wednesday will be an interesting day to see how traders trade the broad indexes after AAPL disappoints and INTC beats.
Many of the bear flag entry signals that occurred on Monday reversed and created a low day on Tuesday that could reverse into a potential higher low bull flag signal on Wednesday. Monday’s list: ANR, ATI, CDE, DF, CHL, CIEN , IL
Many of the potential bull flag setups from Monday made either a new low day in the flag pull back or reversed and moved above Monday’s pull back high. Monday’s list included: CRUS, CSTR , DE
Breadth strengthened as advancers led decliners 5.26 to 1 on the NYSE and 3.33 to 1 on the NASDAQ.
Exchange NYSE NASDAQ
Advancers 2,562 1,982
Decliners 487 595
Leading stocks > +2% on Tuesday FAS, AKS, TSL, BAC, SWK, VMW, STI, ZION, C, MCP, URE, GS, ZAGG, ANR, ENTR, RCL, JNPR, DOW, JDSU, CREE,DLR, UCO, CIEN, GLW, WLT, CAT, ESI, NVDA, SLB, ATI, UNP, X, F, FWLT, KKD, VECO, SWN, SWKS, LNKD, V, CRUS, WDC, DHR, ANF, HAL, CF, CRM, RVBD, SNDK
Losing stocks < -2.0% included CROX, FAZ, IBM, SOHU, LDK, SINA, CSTR
NDX 100 stocks stronger than the NDX included STX, MU, FSLR, JOYG, WCRX, NIHD, PCAR, FLIR, CTXS and NTAP.
Stocks weaker than the NDX include NFLX, CTRP, BIDU, AKAM, YHOO, QGEN, ISRG, ILMN, GMCR and CERN.
Four NDX stocks including ALTR and ESRX moved above their 30 DMA making 77 NDX stocks above the 30 DMA.
Stocks to Watch on Wednesday
Holding Above 30 DMA = 45
IBM, ARUN, DECK, FFIV, ICE, INFA, SNDK, CRUS, CSTR, F, NDAQ, NKE, ANF, COH, ENTR, NVDA, UNP, CRM, DHR, DOW, SMH, SWK, TIF, TPX, UAL, V, VMW, C, JNPR, NGLS, RCL, ZAGG, CAT, CMG, DLR, GES, HLF, LNKD, SWKS, SWN, NTES, WLT, RVBD, SLB, UCO
Moving Above 30 DMA = 12
A, AKS, CIEN, FAS, FWLT, GLW, GS, LVS, STI, TBT, URE, ZION
Moving Below 30 DMA = 1
CROX
Staying Below 30 DMA
CREE, ESI, HAL, HUM, POT, SINA, WDC, TLT, FAZ, GMCR, CHL, IL, JDSU, SLW, DE, ATI, CF, KKD, MOS, CDE, CLF, MCP, PCX, SOHU, TSL, BAC, VECO, LDK, FCX, ANR, X
Ten Week Intermediate Term Market Trend: Neutral
Short Term Market Trend: Neutral
Futures Higher as XLF Up...
BMO – ES +2.75 and NQ +13.25 futures are higher about 15 minutes before the open in pre-market trading and point to a higher open…volume is moderate for pre-market with more stocks quoting down than up…Financial stocks, XLF is up 15 cents on 302,700 shares in pre-market at this time…
TLT is down 35 cents and the Euro is down 21 pips in overnight trading …
NDX leaders AMZN, BIDU, GOOG and PCLN are quoting lower… QCOM is flat…AAPL is higher...
IBM and CROX are lower…
BAC +0.32 reported before the open…
ANR, ATI, MOS paper trade will use submit at time after open to see early trend development…
Oct 17 – 21 Earnings Highlights of Interest:
Monday – C, HAL, HAS, IBM, SWK, STLD, VMW, WFC
Tuesday – AAPL, BAC, CHKP, CREE, CSX, INTC, ISRG, JNJ, JNPR, LLTC, STT
Wednesday – AXP, AMR, APOL, CRUS, EBAY, FCX, LRCX, RVBD, TRV, UAL, UTX, WDC, WYNN, XLNX
Thursday – ALXN, ALTR, T, CY, FLEX, INFA, ESI, KELY, MXIM, MSFT, PCX, SNDK, ST, TPX
Friday – MCD, SLB, STI, VZ
Dave’s Insight for Tuesday: lower Euro…weaker bonds…Financials up…setting up a slightly higher open …With the SPX at the 1,200 support, watch for a potential breakout to the downside following Monday’s break of the low of the high day …Follow your entry signals and take trades according to your rules…Watch XLF, TNX, volume and breadth as key factors in any SPX move…move stops on profitable trades…
SPX
Resistance: 1,216, 1,230, 1,249
Support: 1,205, 1,177, 1,160
Quoting Down – CROX, IBM, DECK, SINA, HUM, CRM, SOHU, FAZ, GMCR, NKE, CLF, LNKD, SLW, ESI, NTES, TPX, ESI, WLT, FCX, X, MOS, CDE, ICE, TIF
Quoting Up – VMW, GS, SWK, SLB, URE, CAT, STI, ZION
Monday, October 17, 2011
SPX and Numerous Stocks Break Below the Low of the High Day...
All nine sectors moved lower on Monday. XLU -0.41%, XLP -0.68% and XLK -1.58% were the strongest sectors.
On Monday the Euro was down 140 pips to 1.3738. TNX was down -0.77 to 21.55. TLT was up +1.97. Financials XLF was down 39 cents.
IBM -7.44, -3.99% afterhours, announced earnings after the close on Monday of 3.19 vs. estimates of 3.22 were up 7% from a year earlier, revenues of $26.16 billion vs. estimates of 26.26 billion were affected by a stronger dollar. IBM increased 2011 forecast.
SWK beat estimates.
STLD EPS in line, revenues beat.
CROX lowers guidance after the close and shares fall -9.40 or -35.29%.
Oct 17 – 21 Earnings Highlights of Interest:
Monday – C, HAL, HAS, IBM, SWK, STLD, VMW, WFC
Tuesday – AAPL, BAC, CHKP, CREE, CSX, INTC, ISRG, JNJ, JNPR, LLTC, STT
Wednesday – AXP, AMR, APOL, CRUS, EBAY, FCX, LRCX, RVBD, TRV, UAL, UTX, WDC, WYNN, XLNX
Thursday – ALXN, ALTR, T, CY, FLEX, INFA, ESI, KELY, MXIM, MSFT, PCX, SNDK, ST, TPX
Friday – MCD, SLB, STI, VZ
The broad indices moved lower with the RUT -3.35%, INDU -2.13%, COMPQ -1.98%, SPX -1.94% and NDX -1.58%. The SPX moved down -23.72 and closed at 1,200.86. The VIX moved up +5.15 to 33.39.
AAPL, AMZN, BIDU, GOOG, PCLN and QCOM all moved lower on Monday.
AAPL, AMZN, BIDU, GOOG, PCLN and QCOM all moved lower on Monday.
(click image to enlarge)
Many stocks on Monday broke the low of the high day which was on Friday. As a result many bear flag entry signals occurred on down trending stocks including: ANR, ATI, CDE, DF, CHL, CIEN , IL
The start of a potential bull flag occurred on many up trending stocks including: CRUS, CSTR , DE
Breadth weakened as decliners led advancers 4.30 to 1 on the NYSE and 4.48 to 1 on the NASDAQ.
Exchange NYSE NASDAQ
Advancers 571 463
Decliners 2,456 2,076
Leading stocks > +2% on Monday FAZ
Losing stocks < -2.0% included VECO, PCX, CREE, GMCR, FAS, HAL, CLF, WDC, KKD, WLT, ANR, X, TSL, ESI, LNKD, JDSU, CDE, JNPR, LDK, FWLT, SWKS, SINA, ATI, STI, NVDA, MCP, AKS, ZION, CIEN, SLB, URE, GLW, ZAGG, MOS, FCX, CRUS, RCL, ENTR, DOW, GES, INFA, CRM, VMW, CSTR, CF, TBT, POT, IL, FFIV, SWK, DHR, ANF, CAT, RVBD, V, UNP, TIF, HLF, ARUN, BAC, COH, DE, SOHU, UAL, SLW, NDAQ, NKE, IBM
NDX 100 stocks stronger than the NDX included SHLD, NFLX, COST, TEVA, WYNN, ILMN and GRMN.
Stocks weaker than the NDX include GMCR, VRTX, RIMM, CERN, FSLR, NVDA, MU, MRVL, STX and WCRX.
Seven NDX stocks including ALTR, APOL, CERN and MRVL moved below their 30 DMA making 74 NDX stocks still above the 30 DMA.
Stocks to Watch on Tuesday
Holding Above 30 DMA = 46
IBM, ARUN, DECK, FFIV, ICE, INFA, SNDK, CRUS, CSTR, F, NDAQ, NKE, ANF, COH, ENTR, NVDA, UNP, CRM, CROX, DHR, DOW, SMH, SWK, TIF, TPX, UAL, V, VMW, C, JNPR, NGLS, RCL, ZAGG, CAT, CMG, DLR, GES, HLF, LNKD, SWKS, SWN, NTES, WLT, RVBD, SLB, UCO
Moving Above 30 DMA = 0
Moving Below 30 DMA = 16
AKS, CIEN, CREE, ESI, FAS, FWLT, GLW, HAL, HUM, LVS, POT, SINA, STI, TBT, WDC, ZION
Staying Below 30 DMA
A, TLT, FAZ, GMCR, CHL, IL, JDSU, SLW, DE, URE, ATI, CF, KKD, MOS, CDE, CLF, MCP, PCX, SOHU, TSL, BAC, VECO, LDK, FCX, GS, ANR, X
Ten Week Intermediate Term Market Trend: Neutral
Short Term Market Trend: Neutral
Futures Point to a Lower Open as Earnings Season Ramps Up...C Up...
10:00 am EDT - SPY, XLF. TNX lower...trading volume is light to moderate...watch for a break of the low of the high day and follow your entry and exit signals according to your rules...
BMO – ES -4.75 and NQ -16.25 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 10 cents on 135,500 shares in pre-market at this time…
BMO – ES -4.75 and NQ -16.25 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 10 cents on 135,500 shares in pre-market at this time…
TLT is up 30 cents and the Euro is down 97 pips in overnight trading …
NDX leaders AAPL, AMZN, BIDU, GOOG and QCOM are quoting lower… PCLN is flat…
C, WFC and HAL reported before the open…
Oct 17 – 21 Earnings Highlights of Interest:
Monday – C, DAL, HAL, HAS, IBM, SWK, STLD, UAL, VMW, WFC
Tuesday – AAPL, BAC, CHKP, CREE, CSX, INTX, ISRG, JNJ, JNPR, LLTC, STT
Wednesday – AXP, AMR, APOL, CRUS, EBAY, FCX, LRCX, RVBD, TRV, UTX, WDC, WYNN, XLNX
Thursday – ALXN, ALTR, T, CY, FLEX, INFA, ESI, KELY, MXIM, MSFT, PCX, SNDK, ST, TPX
Friday – MCD, SLB, STI, VZ
Dave’s Insight for Monday: lower Euro…stronger bonds…Financials down…setting up a lower open …With the SPX at the 1,224 resistance, watch for a potential breakout …Follow your entry signals and take trades according to your rules…Watch XLF, volume and breadth as key factors in any SPX move…move stops on profitable trades…
SPX
Resistance: 1,230, 1,249
Support: 1,216, 1,205, 1,177
Quoting Down – SINA, CREE, LNKD, WDC, WLT, VECO, CMG, IBM, RCL, MCP, NGLS, DE, TIF, HAL, FCX, CRM, GS, UCO, SMH, LVS, FAS, POT, GOOG, WYNN, VRTX, AMZN, NFLX, VIDU, FLSR, AAPL, ALTR, CTSH, SNDK, VOD, URBN, PCAR, AKAM
Quoting Up – FAZ, CAT, C, CF, TLT, SWK, JOYG, ISRG, MYL, TEVA
Friday, October 14, 2011
SPX Rises, VIX Falls as Euro and Interest Rates Move Higher...
All nine sectors moved higher on Friday. XLE +4.00%, XLB +2.64% and XLI +1.80%, were the strongest sectors.
On Friday the Euro was up 100 pips to 1.3878. TNX was up +0.63 to 22.32. TLT was down -1.68. Financials XLF was up 15 cents.
GOOG +32.69, +5.85% announced earnings after the close on Thursday of 9.72 vs. estimates of 8.74 and revenues of $7.51 billion which also beat estimates.
This week AA reported earnings and revenues above last year, but with EPS less than estimated. AA did affirm a 12% growth rate for 2011. A positive macro factor suggesting a double dip recession is a low probability.
GOOG +32.69, +5.85% announced earnings after the close on Thursday of 9.72 vs. estimates of 8.74 and revenues of $7.51 billion which also beat estimates.
This week AA reported earnings and revenues above last year, but with EPS less than estimated. AA did affirm a 12% growth rate for 2011. A positive macro factor suggesting a double dip recession is a low probability.
JPM reported better than expected earnings, but investment banking fees fell 31%. A major bank still profitable in an extremely low interest rate environment is a positive macro economic factor.
Chart Signals sees the early earnings announcements as positive from a broad economic point of view.
Oct 17 -21 Earnings Highlights of Interest:
Monday – C, DAL, HAL, HAS, IBM, SWK, STLD, UAL, VMW, WFC
Tuesday – AAPL, BAC, CHKP, CREE, CSX, INTX, ISRG, JNJ, JNPR, LLTC, STT
Wednesday – AXP, AMR, APOL, CRUS, EBAY, FCX, LRCX, RVBD, TRV, UTX, WDC, WYNN, XLNX
Thursday – ALXN, ALTR, T, CY, FLEX, INFA, ESI, KELY, MXIM, MSFT, PCX, SNDK, ST, TPX
Friday – MCD, SLB, STI, VZThe broad indices moved higher with the RUT +1.95%, NDX +1.94%, COMPQ +1.82%, SPX +1.74% and INDU +1.45%. The SPX moved up +20.92 and closed at 1,224.58. The SPX had its strongest open to close up week in more than a year.
The VIX moved down -2.46 to 28.24. Today is the lowest close in the VIX since August 3 when it closed a 23.28.
Thursday’s non-confirmation by the VIX, NDX and COMPQ of the SPX move down was followed by a SPX reversal to the upside on Friday.
AAPL, AMZN, BIDU, GOOG, PCLN and QCOM all moved higher on Friday. AAPL and AMZN both made new all-time closing highs.
(click image to enlarge)
Friday is the high day of the recent short term up trend as the SPX closed above its 1,216 – 1,220 horizontal resistance area.
Breadth strengthened as advancers led decliners 5.13 to 1 on the NYSE and 3.00 to 1 on the NASDAQ.
Exchange NYSE NASDAQ
Advancers 2,530 1,896
Decliners 493 632
Leading stocks > +2% on Friday RVBD, PCX, UCO, HAL, SLB, JNPR, CIEN, MCP, RCL, ARUN, ANR, URE, LNDK, CLF, SWKS, FCX, CRUS, CDE, DOW, FAS, SWN, JDSU, LVS, CAT, FWLT, POT, SLW, FFIV, X, WLT, TBT, HLF, ANF, C, VMW, CSTR, CHL, A, TPX, NTES, GES, COH, TIF, LDK, DE, ENTR, SOHU, MOS, UNP, CF
Losing stocks < -2.0% included TSL, FAZ,
NDX 100 stocks stronger than the NDX included GOOG, SIRI, ADSK, AMZN, ADBE, VIDU, AAPL, MU, QCOM and QCOM.
Stocks weaker than the NDX include MCHP, VRTX, MYL, FSLR, MRVL, MAT, FAST, ILMN, ALXN and NFLX.
Two NDX stocks APOL and LINTA moved above their 30 DMA making 80 NDX stocks now above the 30 DMA.
Stocks to Watch on Monday
Holding Above 30 DMA = 49
IBM, ARUN, DECK, FFIV, ICE, INFA, SNDK, CRUS, CSTR, F, NDAQ, NKE, ANF, COH, ENTR, NVDA, UNP, CRM, CROX, DHR, DOW, GLW, SMH, STI, SWK, TIF, TPX, UAL, V, VMW, ZION, C, JNPR, NGLS, RCL, ZAGG, CAT, CMG, DLR, FWLT, GES, HLF, LNKD, SWKS, SWN, NTES, SINA, WDC, WLT
Moving Above 30 DMA = 13
AKS, CIEN, CREE, ESI, FAS, HAL, HUM, LVS, POT, RVBD, SLB, TBT, UCO
Moving Below 30 DMA = 0
Staying Below 30 DMA
A, TLT, FAZ, GMCR, CHL, IL, JDSU, SLW, DE, URE, ATI, CF, KKD, MOS, CDE, CLF, MCP, PCX, SOHU, TSL, BAC, VECO, LDK, FCX, GS, ANR, X
Nine Week Intermediate Term Market Trend: Neutral
Short Term Market Trend: Up
Stocks Rise as GOOG Gaps Up After Beating Earnings...
10:00 AM EDT – ES +16.75 and NQ +31.50 futures are higher 30 minutes after the open … Financial stocks, XLF is up 16 cents on 29.2 million shares…all sectors are higher…
The VIX -1.98, 28.72 is at its lowest level since August 3…
GOOG is up $35.51, the same as last nights gap…
Interest rates TNX is +0.64 at 22.33…TLT is down -1.50 and the Euro is up 86 pips in overnight trading …
NDX leaders AAPL, AMZN, BIDU, GOOG, NFLX, PCLN and QCOM are quoting higher…
Dave’s Insight for Friday: higher Euro…weaker bonds…Financials up…leading to a higher open …With the SPX at the 1,216 resistance, watch for a potential breakout …Follow your entry signals and take trades according to your rules…Watch XLF, volume and breadth as key factors in any SPX move…move stops on profitable trades…
SPX
Resistance: 1,205, 1,216, 1,230
Support: 1,177, 1,160, 1,146
Quoting Down – VRTX, MCHP, FAST, BIIB, SINA, UAL, FAZ, TLT
Quoting Up – RVBD, UCO, FCX, WLT, LNDK, PCX, CIEN, CRUS, JDSU, SWKS, , JNPR, HAL, HLF, GOOG, ADBE, SIRI, ADSK, JOYG, EBAY, BRCM, APOL, BIDU, SNDK, CTXS, QCOM, NVDA, FFIV, NTAP, AMZN, INFY, AAPL
Thursday, October 13, 2011
GOOG Gaps Up $35 After Better Than Expected Earnings...
Seven of nine sectors moved lower on Thursday. XLK +2.53%, XLU +0.00% and XLY -0.08%, were the strongest sectors.
On Thursday the Euro was down 8 pips to 1.3778. TNX was down -0.57 to 21.69. TLT was up 1.14. Financials XLF was down 29 cents.
JPM announced before the open earnings of $1.02 vs. estimate of 91 cents…investment banking fees fell 31%...JPM fell -4.82%...GOOG announced earnings after the close of 9.72 vs. estimates of 8.74 and revenues of $7.51 billion which also beat estimates…GOOG +35.61 in after-hours trading, after rising +10.49 during regular trading…
The broad indices were mixed with the NDX +0.85%, COMPQ +0.60%, RUT -0.22%, SPX -0.30% and INDU -0.35%. The SPX moved down -3.59 and closed at 1,203.66. The VIX moved down -0.56 to 30.70. This is a non-confirmation of the SPX move down.
AAPL, BIDU, GOOG, PCLN and QCOM all moved higher on Thursday, as did semiconductor stocks.
Wednesday is the high day of the recent short term up trend as the SPX closed near its 1,205 horizontal resistance area for the second straight day.
Breadth weakened as decliners led advancers 1.56 to 1 on the NYSE and 1.03 to 1 on the NASDAQ.
Exchange NYSE NASDAQ
Advancers 1,171 1,226
Decliners 1,831 1,271
Leading stocks > +2% on Thursday SINA, WLT, NVDA, TSL, ENTR, FAZ, LNKD, WDC, PCX, IL, UAL, SWKS, SNDK, CREE, SWN, CRUS, SOHU, VECO, INFA, ZAGG, JNPR, SMH, CF
Losing stocks < -2.0% included BAC, C, FAS, SLW, LDK, A, ZION
NDX 100 stocks stronger than the NDX included VRTX, MU, NVDA, BMC, STX, AKAM, ILMN, NIHD, LLTC and SNDK.
Stocks weaker than the NDX include WYNN, FAST, APOL, XRAY, VRSN, QGEN, RIMM, WFM, CTRP and URBN.
Three NDX stocks ALTR, BIDU and XLNX moved above their 30 DMA making 78 NDX stocks now above the 30 DMA.
Stocks to Watch on Friday
Holding Above 30 DMA = 45
IBM, ARUN, DECK, FFIV, ICE, INFA, SNDK, CRUS, CSTR, F, NDAQ, NKE, ANF, COH, ENTR, NVDA, UNP, CRM, CROX, DHR, DOW, GLW, SMH, STI, SWK, TIF, TPX, UAL, V, VMW, ZION, C, JNPR, NGLS, RCL, ZAGG, CAT, CMG, DLR, FWLT, GES, HLF, LNKD, SWKS, SWN
Moving Above 30 DMA = 4
NTES, SINA, WDC, WLT
Moving Below 30 DMA = 5
A, ESI, FAS, HUM, TBT
Staying Below 30 DMA
TLT, UCO, FAZ, GMCR, CHL, IL, JDSU, LVS, SLW, CIEN, CREE, DE, URE, ATI, CF, KKD, MOS, RVBD, CDE, CLF, MCP, POT, AKS, PCX, SOHU, TSL, BAC, VECO, LDK, HAL, FCX, GS, SLB, ANR, X
Nine Week Intermediate Term Market Trend: Neutral
Short Term Market Trend: Up
Futures Point to a Lower Open...JPM Reports Earnings...
BMO – ES -6.75 and NQ -6.50 futures are lower about 75 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 17 cents on 12,400 shares in pre-market at this time…JPM announced earning of $1.02 vs. estimate of 91 cents…investment banking fees fell 31%...JPM is down -2.08%...
GOOG reports after the close…
TLT is up 31 cents and the Euro is down 52 pips in overnight trading …
NDX leaders AAPL, AMZN, BIDU, GOOG and NFLX are quoting lower… PCLN and QCOM are flat…
Dave’s Insight for Thursday: lower Euro…stronger bonds…Financials down…leading to a lower open …With the SPX at resistance watch to see if Wednesday’s low of 1,196 holds as short term support…watch for a potential move towards the 1,216 resistance …Wait for your entry signals before taking new trades this morning…Watch XLF, volume and breadth as key factors in any SPX move…move stops on profitable trades…
SPX
Resistance: 1,205, 1,216, 1,230
Support: 1,177, 1,160, 1,146
Quoting Down – PCLN, AMZN, WYNN, BIDU, CMG, GS, SINA, DE, CRM, CAT, DOW, UCO, ANF, C, SLW, IBM, HAL, FCX, SLB, FAS, TIF, LVS, SOHU, CDE, X, POT, SMH, FSLR, FAST, NFLX, RIMM, AAPL, WFM, ESRX, INFY, CTSH, DTV
Quoting Up – VRTX, FAZ, CSTR, COH, ESI, NKE, AKAM, NIHD, BRCM
GOOG reports after the close…
TLT is up 31 cents and the Euro is down 52 pips in overnight trading …
NDX leaders AAPL, AMZN, BIDU, GOOG and NFLX are quoting lower… PCLN and QCOM are flat…
Dave’s Insight for Thursday: lower Euro…stronger bonds…Financials down…leading to a lower open …With the SPX at resistance watch to see if Wednesday’s low of 1,196 holds as short term support…watch for a potential move towards the 1,216 resistance …Wait for your entry signals before taking new trades this morning…Watch XLF, volume and breadth as key factors in any SPX move…move stops on profitable trades…
SPX
Resistance: 1,205, 1,216, 1,230
Support: 1,177, 1,160, 1,146
Quoting Down – PCLN, AMZN, WYNN, BIDU, CMG, GS, SINA, DE, CRM, CAT, DOW, UCO, ANF, C, SLW, IBM, HAL, FCX, SLB, FAS, TIF, LVS, SOHU, CDE, X, POT, SMH, FSLR, FAST, NFLX, RIMM, AAPL, WFM, ESRX, INFY, CTSH, DTV
Quoting Up – VRTX, FAZ, CSTR, COH, ESI, NKE, AKAM, NIHD, BRCM
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