weeklyanalysis03272010 Monday: The major indexes closed near session highs Monday, with medical, retail and some car-related industries doing best. Indexes rose 0.4 to 0.9%. Volume was lower after Friday's quadruple witching, but above average on the Nasdaq. The Dow made a new closing high for the year, while the Nasdaq added to its 2010 wins. Eight in 10 IBD 100 stocks gained ground. Most of the leaders that declined did so in lower volume. The IBD 100 index advanced 1.4% Monday, topping the major averages. Tuesday: Stocks rallied and closed at session highs, marking the 13th up day in the past 15 sessions for the Dow. The index rose 1.5%, easily outrunning the market as it made its 12th gain in the past 14 sessions. Wednesday: All indexes fell Wednesday. Volume was still higher on the NYSE, indicating distribution days for the S&P 500, Dow and NYSE composite. Despite the downturn in the market, few leaders sold off in heavy volume. Nasdaq escaped distribution due to volume. Thursday: After closing in a tailspin, the market was disappointed with results of two notable big caps after hours. S&P 500 narrowly escapes technical definition of distribution. Friday: Stocks made modest gains for the week as investors looked ahead to a holiday-shortened week. The IBD 100 fell 0.1% Friday. On a positive note, the index was up 1.9% for the week, easily outperforming the major indexes. The Dow was up 1% for the week, the Nasdaq 0.9%, the S&P 500 0.6% and the NYSE composite 0.2%. weeklyanalysis04032010 Monday: Stocks continued to hold gains, but volume was lower. Few leaders mustered strong action, even as the IBD 100 rose 0.9% for the session. The driver for the advancing indexes Monday appeared to be a weakening dollar. Tuesday: Stocks wandered Tuesday, eventually settling for small gains and small losses. Wednesday: Stocks slouched to losses Wednesday, adding a distribution day to three of the four major indexes. the markets still showed gains for the month of March, with the Dow rising 5.1%, the S&P 500 5.9% and the Nasdaq 7.1%. Thursday: Stocks bolted ahead at the open Thursday, but many issues failed to hold the early advance. Friday: Equity markets are closed Friday. As such, no notable companies are reporting until next week. The IBD 100 added 0.6 % Thursday. For the week, it rose 0.9%. The NYSE composite rallied 1.8% for the week, the S&P 500 1%, the Dow 0.7% and the Nasdaq 0.3%. Monday: Stocks continued to hold gains, but volume was lower. Few leaders mustered strong action, even as the IBD 100 rose 0.9% for the session. The driver for the advancing indexes Monday appeared to be a weakening dollar. Tuesday: Stocks wandered Tuesday, eventually settling for small gains and small losses. Wednesday: Stocks slouched to losses Wednesday, adding a distribution day to three of the four major indexes. the markets still showed gains for the month of March, with the Dow rising 5.1%, the S&P 500 5.9% and the Nasdaq 7.1%. Thursday: Stocks bolted ahead at the open Thursday, but many issues failed to hold the early advance. Friday: Equity markets are closed Friday. As such, no notable companies are reporting until next week. The IBD 100 added 0.6 % Thursday. For the week, it rose 0.9%. The NYSE composite rallied 1.8% for the week, the S&P 500 1%, the Dow 0.7% and the Nasdaq 0.3%. weeklyanalysis04102010 Monday: A round of upbeat economic reports fueled stocks Monday. Most major indexes hit their best levels since late September 2008. Volume fell on both exchanges. Tuesday: Most major indexes finished higher for the third straight session Tuesday. Volume rose across the board. Wednesday: A late round of selling sent stocks firmly lower Wednesday. But most indexes finished off the worst levels of the session. A distribution day was logged for all of the major averages. Thursday: Stocks shrugged off Greek debt worries and an unexpected rise in jobless claims to finish with small gains Thursday. Friday: Easing Greece worries and a lower dollar boosted stocks Friday. The major indexes extended their win streak to six weeks. For the week, stocks logged their sixth straight gain. The Nasdaq climbed 2.1%, the S&P 500 1.4%, the NYSE composite 1.2% and the Dow 0.6%.
weeklyobservations03272010 (reverse chrono) -F Early gains in lighter volume. Stocks made it back into mixed territory after another rally fizzled. Trade still lighter. Trade was down modestly on the NYSE and sharply on the Nasdaq. -Th Early gains in volume. Nice volume - no leaders. Volume pulls back from early totals. Indexes, too. Ugly reversal results in indexes closing mixed at lows. Distribution day for NYSE composite. SPX narrowly averts distribution day. For the third time in the past five sessions, the market suffered distribution. RUT/MID close significantly lower. Market still strongly correlated to the dollar's move. Top stocks pull back sharply. The IBD 100 fell 0.5%. Volume rose with drop. -W Sketchy action in the early going. Volume has increased with index losses. Despite the downturn in the market, few leaders sold off in heavy volume. Top stocks behaved rather well. The IBD 100 fell 0.4%. Bank index *still* went up. Indexes closed near lows. -Tu Market *still* making modest gains. Closed (at highs) w/solid gains in mixed volume. *Some* leader participation. The 13th up up day in the past 15 sessions for the Dow. The index rose 1.5%, easily outrunning the market as it made its 12th gain in the past 14 sessions. -M Gold below $1,100/oz on continued dollar strength. House passed the biggest health-care legislation in decades, expanding insurance coverage to nearly all Americans. Some leadership in the early going. Good gains in good volume today. Looks like we came up off DJIA & SPX support. Strong move, but *still* no leadership. Volume was above average on the Nasdaq. All major indexes closed near session highs. weeklyobservations04032010 (reverse chrono) -Th Nasdaq volume jumps with sizeable gains. Some leadership participation. Nasdaq reverses from highs, but is still up. Slices through support - watch 2400 level. Leadership fades. Sell-off was exacerbated by lack of volume. -W Indexes down - volume up in the early going (more distribution?). Listless trade as volume pulls back. Indexes fall further as trade increases. By day's end, distribution resulted across the aboard. Volume picked up, markedly. 4 distribution days in 9 session. -Tu Nasdaq volatile in the early going. Nasdaq volume turns significantly up w/ mid-session losses. Tug-of War continues to rage. An "inside" day. -M Minor gains in mixed trade. Mid-day weakness. Leadership *still* scant. Volume goes lighter. Few leaders mustered strong action, even as the IBD 100 rose 0.9% for the session. The driver for the advancing indexes Monday appeared to be a weakening dollar. weeklyobservations04102010 (reverse chrono) -F Mixed volume/limited upside. More index gains in lighter trade. No real leadership. -Th Futures down pre-market. RUT/MID taking it on the chin. Indexes bounce back to positive. Nasdaq volume lighter/NYSE grows. Stock accumulation wanes. NYSE volume pulls back, too. Closed with modest gains w/ bullish financials and the dollar's retreat. -W Bank Index up pre-market. Market is mostly down, in higher trade. Bank Index reverses lower. Volume came in HUGEly higher w/distribution. Must not have liked what Bernanke said. Still, some leaders upin volume. -Tu Late-session mixed. Volume mixed. The Dow grapples with resistance at 11,000. Small caps and midcaps again led the market, with the S&P 600 and S&P 400 taking 0.5% gains. The IBD 100 rose 0.5%, outpacing the broad market. -M Bank Index up pre-market. Early gains in down volume - even from Friday. stocks test session highs in lighter trade. Nasdaq up markedly in markedly lower volume. Small caps were on a tear, driving the S&P 600 ahead 1.9%. The IBD 100 rose 1.4%. p$
weeklyanalysis04172010 Monday: Stocks ended a quiet session Monday with a soft touch, hanging onto scant gains. The market drew mixed volume Monday â a bit lower on the Nasdaq, a bit higher on the NYSE. All in all, the action gave one the sense of a market waiting for first-quarter earnings results. Tuesday: Stocks shook off a rocky start to finish higher Tuesday. The S&P 500 and Dow rose 0.1%, the Nasdaq 0.3%. Volume was higher across the board, bolstering the day's gains. Wednesday: Upbeat earnings, economic reports and comments from the Fed sent stocks sharply higher Wednesday. The Nasdaq jumped 1.6%, closing back above the 2500 level for the first time since June 5, 2008. Intel's earnings report from late Monday ignited chip stocks. The Philadelphia semiconductor index surged 4.3%. Thursday: Stocks closed in split fashion after a round of mixed economic data and earnings. Friday: Stocks skidded Friday after the SEC hit Goldman Sachs (GS) with civil fraud charges. But equities pared some losses, and some indexes extended their weekly win streaks. The Nasdaq and Dow extended their winning streaks to seven weeks. They gained 1.1% and 0.2%, respectively, for the week. The NYSE composite fell 0.6% for the week, while the S&P 500 slipped 0.2%. NYSE volume surged, while Nasdaq trade also finished higher. weeklyanalysis04242010 Monday: Stocks rebounded from mixed news in the bank sector to finish mixed Monday. The Dow outperformed, rising 0.7%. It recouped more than half of Friday's decline. The Nasdaq slipped a fraction. Volume fell sharply across the board. Tuesday: Stocks opened strongly and finished that way Tuesday, thanks to a round of positive earnings reports. Wednesday: Stocks wavered to a mixed finish Wednesday amid a flood of earnings reports. Thursday: Stocks finished mostly positive after a bullish reversal Thursday. Greece's debt worries and mixed economic data weighed early, but stocks made a big turnaround. Friday: Stocks digested a round of mixed earnings and economic reports, along with Greece news, to close higher on Friday. The S&P 500 rallied 0.7%, the Dow 0.6% and Nasdaq 0.4%. They all hit new highs for the year. The NYSE composite climbed 0.8%, but failed to clear its April 15 peak. Volume fell on both exchanges. For the week, the Nasdaq and Dow climbed 2% and 1.7%, respectively. Both finished higher for the eighth straight week. For the Nasdaq, that's the longest win streak since a nine-week rampage from the March 2009 low. Some leaders had a nice day. weeklyanalysis05012010 Monday: Stocks sagged to a negative finish after bobbing up and down in a limited range Monday. Volume was up on the NYSE and down on the Nasdaq. That slapped the S&P 500 and the NYSE composite with a distribution day. Tuesday: Stocks took their hardest one-day hit since early February as the uptrend came under pressure. The Philadelphia semiconductor index plunged 3.5%. The negative action slapped all four major indexes with a distribution day. The NYSE composite has seven distribution days, the most of the indexes. The Nasdaq has the fewest, with three. Wednesday: Stocks recouped some of the prior session's heavy losses Wednesday. The market shook off S&P's downgrade of Spain and extended gains after the Fed again stood pat on interest rates. Thursday: Stocks surged on a round of upbeat earnings reports Thursday. Friday: Stocks got hammered Friday, erasing the prior session's gains. All major indexes closed at or near session lows. Major indexes also finished down on the week. For the week, the Nasdaq and Dow dropped 2.7% and 1.7%, respectively. Both snapped their eight-week win streaks. The NYSE composite lost 3% and S&P 500 lost 2.5%. The Philadelphia semiconductor index sank nearly 5%. weeklyanalysis05082010 Monday: Stocks rallied Monday, thanks to a bailout package for Greece. Tuesday: Concerns over the European debt crisis slammed stocks Tuesday, overshadowing better-than-expected factory and housing data. The Nasdaq dumped 3%, its biggest loss in three months. Chips and high-profile issues weighed on the tech-heavy index. The Philadelphia semiconductor index tumbled nearly 5%. Tuesday's fall ushered in a new correction. Wednesday: Stocks piled on more losses Wednesday as European debt worries again took center stage. Thursday: Stocks pared losses from a massive intraday sell-off, but still finished lower for the third straight session Thursday. Overseas debt worries continued to plague the market. After a wild session, the Nasdaq dropped 3.4%. At one point, it was down 9%. The NYSE composite was also down 3.4%. The Dow and S&P 500 shed 3.2% each. Volume spiked on both exchanges. Friday: Despite a strong jobs report, stocks stumbled for the fourth straight session Friday and ended the week with their biggest losses in more than a year. Debt worries over Greece and other European countries hammered Wall Street. The Nasdaq skidded 7.9% for the week, the NYSE composite lost 7.5%, the S&P 500 dropped 6.4% and Dow 5.7%. More leaders came under selling.
weeklyobservations05082010 (reverse chrono) -F Asia opens and tanks. Unemployment rate ticks up to 9.9%. Opening gains vanish. Tech tanks. Volume even stronger with early losses. Volume increases about 50% from yesterday's levels. Stocks hold above lower levels. Dow closes -772 for week. Nasdaq off 8% for week. -Th Asia down strong. Volume way down in the early going. NDX breaks 50 dma. Volume has now gone positive. Indexes tank as volume jumps. Volume now HUGE. Largest %-age intra-day loss for Dow, since 1987. Some institutional stock accumulation. -W Bounced off 10820 (50 dma). Nasdaq violated 2403, then retook it. Nice rally off lows. Volume swells, now wanes. Dropped again to the 10820 lows, then got erratic into the close. Volume ends on par with yesterday's levels. The dollar surged again. -Tu Stocks open broadly lower on more Greek worries. NDX tanks as it gaps much lower. Soxx drops 5%. Bellwether issues also tumbled. Volume tracked vastly higher on both exchanges. -M Indexes ramp up in markedly lower volume - SHORT. The Philadelphia semiconductor index surged 3%. AGAIN major averages indexed against support, closing at highs! No real stock accumulation. weeklyobservations05012010 (reverse chrono) -F Fear gauge still elevated. Some leaders accumulated. Stocks got hammered Friday, erasing the prior session's gains. All major indexes closed at or near session lows. SMH pulls back 3.5%. Highly rated groups such as semiconductor and retail issues were some of the session's worst performers. Gold producers bucked the sell-off. Dow and Nasdaq snap eight-week win streaks. -Th Indexes up strong in mixed volume. Market puts on more gains as volume pulls back more. DOEdu remarks send school stocks plunging. Nasdaq turnover spiked due to heightened trading in E-Trade and Palm. Indexes close strong, retaking key levels. -W Trying again to rally off lower support. Still below resistance. Stocks rebound some in soft trade. More NYSE gains in lighter trade. The Nasdaq was fractionally higher. Volume fell across the board. But the IBD 100 dropped 0.5% as more leading stocks came under selling. -Tu More Greece debt worries lowering pre-market. Volume jumps as stocks sink. Volume markedly jumps with steep losses. Leadership wanes. Mired in losses...the market is deciding what to do. . . .despite typical light volume pre-Fed announcement sessions. -M No Nasdaq volume today with minor gains. Holding onto gains, no problem. NYSE volume increased. Another distribution day for the NYSE indexes. Closed at lows, mixed in mixed trade. Some stock accumulation. weeklyobservations04242010 (reverse chrono) -F Again sketchy early trade. Stocks turn mixed in mixed trade. Indexes come back to close up, in lower trade. -Th More NYSE distribution. Steady losses - most markedly NYSE - in volume. Still some leaders are moving forward. Market runs back up to resistance. Bounces off 2000 & 11000 level. Market now mixed. Indexes close up in higher trade -W Despite strong opening - slices 2500 level. Dow slices 11,100 level. Seeing some stock accumulation. Market closes mixed. Another distribution day for NYSE composite. Other indexes narrowly avoid. -Tu Market back up through resistance in low/no volume. Still no leadership. Having difficulty breaking through 2500. -M Overseas markets get slammed. Futures lower, but bounce at open. Trade sketchy. Dow loses 11,000. NDX loses 2000. Tech gets taken down in elevated trade. No leadership. Chip stocks dragged. Closed mixed. MID/RUT fell. weeklyobservations04172010 (reverse chrono) -F Indexes drop Friday in heavy trade. GS gets charged w/ fraud -12%. Dow loses 11,100, SPX 1200, Nas 2500. No leadership or accumulation. Dow retakes 11,000. Although market closed off lows, was still near lows. -Th More gains this time in mixed trade. Indexes tread water in mixed trade. Closed mixed. -W Hmmm, volume increases w/gains. For now indexes break through upper resistance. With some leadership participation. Solid day lending further credence to rally. -Tu We are down in the early going in large volume. Good stock accumulation, though. Nasdaq 100 closes above 2000. Indexes close green. Volume up markedly - but against low comparisons. -M Dow up above 11,000 in lighter trade. Some leadership accumulation hangs in there. Volume ends mixed. p$
weeklyanalysis05152010 Monday: Indexes chalked up their biggest one-day gains so far this year, after news of the European Union's trillion-dollar bailout proposal for Greece triggered a boisterous rebound. Tuesday: Stocks flip-flopped to a narrowly mixed finish Tuesday, but gold shined. Wednesday: Stocks shot up Wednesday as Spain's announcement of major budget cuts eased fears on European debt. Volume dropped on both exchanges. Thursday: Major stock indexes fell Thursday, essentially erasing the prior session's advance. Stocks opened lower on weak jobs data, but they soon turned positive. Yet gains didn't last long, and a sell-off accelerated in late trading. Turnover fell on the NYSE and edged up on the Nasdaq. Friday: Stocks extended losses Friday as worries over the European debt crisis offset some better-than-expected economic data. But equities closed off the worst levels of the session and finished higher on the week. The NYSE composite settled under its 200-day moving average. The close under the 200-day line marked the third such finish in the past two weeks. The three other major indexes remain above their 200-day lines, which act as long-term trend indicators. For the week, the Nasdaq climbed 3.6% and S&P 500 2.2%. The Dow and NYSE composite rose 2.3% each. weeklyanalysis05222010 Monday: Stocks staged a big comeback to finish mixed on Monday. Volume fell on both exchanges. Tuesday: Stocks finished vastly lower Tuesday after a morning rally fizzled. The Nasdaq shed 1.6%, the NYSE composite 1.5%, the S&P 500 1.4% and the Dow 1.1%. Volume rose on both exchanges. The euro also turned lower after topping $1.24. It hit a fresh four-year low against the dollar. Wednesday: Stocks gave up early gains and fell after a news-filled session Wednesday. But the major indexes closed well off the worst levels of the session. Overseas worries continued to dictate trading. Thursday: Stocks got hammered Thursday as worries over the European debt crisis again took center stage. The Nasdaq dived 4.1% and sliced its 200-day moving average. Nasdaq heavyweight AAPL breached its 50-day moving average, while BIDU extended its losing streak to six sessions. All major indexes finished near the worst levels of the day. Turnover jumped across the board. Friday: Major stock indexes bounced back Friday from early losses of more than 1% to close higher for the first time in four sessions. European worries continue to keep the market on edge.
weeklyobservations05222010 (reverse chrono) -F Indexes open down, but reverse up. Volume up w/options expiry. Nasdaq breaches 200 dma, but moves back up. Other indexes finding it as resistance. -Th Nasdaq futures off 33 points. Major crash. Vix spikes to new highs: 42.6 (high 46.37) Nasdaq slammed 4% Still above "flash crash" lows. DJ, SPX and NYSE are all now below 200 dma. AAPL gaps below 50 dma Closed at lows. Correction: 12.5%? -W Euro zone weighs again. Looking to close near even demand. Volume up. Vix: 36 (high 38.4) Closes off lows. Correction: -9% -Tu After-market futures flat. Stocks dropped closing at lows and below 50 dma. Action was orderly but erratic. NDX off 1.6% below 1900 (1887). Vix (33.55) still rising in line with index drop. Volume up, no accumulation. Correction: -8.4% -M Overnight NQ went down to 1885 level but bounced back to 1915. Volume down in early going. Down, but no vol. Weak response to a rebound. Stocks stage rebound in lower trade. 1900 support holding. weeklyobservations05152010 (reverse chrono) -F Overnight futures off, but up from lows. Now at key support. Resistance breaks down. Nasdaq gaps lower. MID breaks 50 dma. volume huge in the early Friday going with excessive pullback. Only (1) accumulated stock. Europe closes way off. At next support - watch how much it rallies. Ugly, got even uglier. Thus far each rally has been met w/ selling. Has been orderly, thus far. Volume still up. -Th Overnight, tried to add gains but has pulled back to lows. Market/Volume mixed. Market pulls back - now to see if rallies to new highs. Reverses to previous lows. Nasdaq at support, but weak response. Ends down w/ Nasdaq distribution. -W Quick to re-test 50 dma. - off highs, rejected sharply. Nasdaq vol pulls way back. NDX struggling w/ 50 dma. Broke thru resistance. Volume pulls back more. Closes near highs in even lighter trade. -Tu Down - but not ready to plummet, yet. - now mixed. Nasdaq was down 30. Volume lower. short-covering *finally* running into resistance. Now well off highs. Closes near mid-point, indicating neutral demand. -M Indexes zoom with volume. Volume has now pulled back w/ gains. Volume pulls back really sharply. p$
weeklyanalysis05292010 Monday: The major indexes closed near session lows Monday as a late slide cemented losses for the major indexes. Tuesday: A strong late rally on Tuesday spared stocks another ugly loss. While the indexes had been down in the 3% neighborhood earlier in the session, the late surge wiped out virtually all intraday losses. The indexes undercut their recent lows before rebounding. Volume tracked sharply higher across the board. Wednesday: Wednesday started off well but finished badly, as stocks ended down after a change of heart. Stocks have reversed sharply, up and down, the past five sessions, signaling market uncertainty. Volume rose across the board. Thursday: China's show of confidence in Europe sent stocks sharply higher Thursday. China reassured investors that it wasn't selling its European debt holdings. The NYSE composite jumped 3.9%. The Nasdaq rallied 3.7%, regaining its 200-day moving average. The S&P 500 and Dow climbed 3.3% and 2.8%, respectively. Both closed just below their 200-day lines. Volume fell markedly across the board, mitigating the day's gains. Friday: Stocks stumbled on this last trading day of May as Spain received its second downgrade of the month. For the week, the Nasdaq rose 1.3%, while the NYSE composite and S&P 500 edged up 0.2% each. Major indexes snapped their three-month win streaks. The NYSE composite tumbled 9.1%, S&P 500 8.2% and Dow 7.9%. Each suffered its biggest monthly loss since February 2009. The Nasdaq lost 8.7% â its biggest since November 2008. weeklyobservations05292010 (reverse chrono) -F Indexes open down, then again fail 1103 re-try. Volume lower. Indexes close down in lighter pre-holiday trade. -Th BIG jump in futures - pointing to Nasdaq regaining 200 dma. Indexes up large - but volume is lower. Big price (>3%) jump in much lower trade. At SP resistance: 1103 No real leading stock accumulation. -W Asia rebounds on bargain hunting after Wall Street response. The rebound was partly due to comments from Congressional leaders saying they would support a milder version of financial regulation reform. NDX trying to regain 200 dma. No stock accumulation. Volume slid compared with the same period Tuesday. Indexes tank into the close. NDX closes below 200 dma. Volume ends mixed, but very strong. -Tu Asia & Europe sank, again. Indexes close mixed after recouping BIG opening losses. Trade was VERY heavy. Dow (9775, low) & SPX (1041, low) undercut previous (Jan-Feb) lows. A rebound in materials and financials help Dow rebound from nearly 300-point drop. Indexes (including Nasdaq) still closed below 200 dma. "DOJI" -type stick (w/vol). NDX/MID/RUT still closed above 200 dma. The indexes undercut their recent lows before rebounding. Dow back above 10,000. Still near "flash-crash" lows. -M The major indexes closed near session lows Monday as a late slide cemented losses for the major indexes. Volume fell from Friday's heavy trading amid options expirations. p$
weeklyanalysis06052010 Monday: U.S. Markets were closed in observance of the Memorial Day holiday. Tuesday: June got off to a gloomy start, as stocks stumbled in a seesaw session Tuesday. The NYSE composite dropped 1.9%, hurt by oil and steel issues. The S&P 500 and Dow lost 1.7% and 1.1%, respectively. Meanwhile, the Nasdaq fell 1.5% and closed back under its 200-day moving average. Volume fell on both exchanges. Wednesday: Stocks had a big comeback Wednesday and closed higher for the first time in three sessions. Boosted by oil, coal, machinery and steel issues, the NYSE composite jumped 2.7%. The Nasdaq climbed 2.6%, regaining its 200-day moving average. And the Nasdaq took out the high of a short trading range. Meanwhile, the S&P 500 and Dow gained 2.6% and 2.2%, respectively. Volume fell on the NYSE and rose on the Nasdaq. Thursday: Stocks shrugged off a round of mostly disappointing economic data and extended gains Thursday, ahead of Friday's jobs report. After staging a follow-through Wednesday, the Nasdaq added 1% Thursday and closed back above the 2300 level. Gains in bellwethers Google (GOOG), Amazon.com (AMZN) and Intuitive Surgical (ISRG) helped lift the Nasdaq. Meanwhile, the S&P 500 rose 0.4%, the NYSE composite 0.3% and the Dow 0.1%. Volume climbed on the Nasdaq and fell on the NYSE. Friday: Worries over a potential debt crisis in Hungary and a smaller-than-expected gain in jobs growth battered stocks Friday. The NYSE composite tumbled 3.8%, the Nasdaq 3.6%, the S&P 500 3.4% and the Dow 3.2%. Volume increased on both exchanges. Equities capped a short week with losses. The NYSE composite dropped 2.8%, the S&P 500 2.3%, the Dow 2% and the Nasdaq 1.7%. weeklyanalysis06122010 Monday: Stocks faltered for a second straight session on Monday as worries over Europe's debt problems continued to weigh. The Nasdaq slumped 2% turning tail after nearly hitting its 200 dma, closing back under the 2200 level. Nasdaq closes firmly below its 200 dma. Volume moderated from Friday's high levels. Tuesday: The major indexes closed near intraday highs Tuesday, erasing earlier losses that caused the Dow and Nasdaq to undercut recent lows. Volume closed higher across the board. Wednesday: Stocks started off well, but finished poorly after a late sell-off Wednesday. Volume fell across the board. Thursday: Strong U.S. jobs and Chinese exports data and a spike in the slumping euro pushed the major indexes sharply higher Thursday. But lighter volume tempered those gains. The NYSE composite closed up 3.4% for the session. The S&P 500 soared 3%, and the Dow and Nasdaq 2.8% each. But volume finished lower across the board â a curious divergence given the size of the day's price gains. Friday: Stocks dismissed mixed economic data and climbed in a seesaw session Friday. Retail sales unexpectedly fell and business inventories rose less than forecast. But consumer sentiment came in above expectations. The Nasdaq rallied 1.1% and closed back above its 200-day moving average. weeklyobservations06052010 (reverse chrono) -F Pre-market sell-off with more European jitters and weak jobs report. Nasdaq nearing 200 dma, again. NDX rallying from lows. Volume jumps. Leading stocks from most sectors were under pressure amid the broad marketâs sell-off. Selling picking up steam as stocks forge newer lows. Dow at/under 10,000. Nasdaq closes below 200 dma. NDX next? Indexes tumble 3.25% in higher Friday trade. Close at lows. "Confirmed rally" not technically failed. NYSE volume above average - jumps markedly with drop. Another day most all indexes close below 200 dma's. BULLETIN >> DOW INDUSTRIALS, S&P 500 FALL 2% ON THE WEEK; NASDAQ OFF 1.7% Much distribution across the board reversing Wed. "follow-through" gains. Volume jumped markedly. Crude drops 4%. -Th Asia & Europe take lead from U.S. Still indexing against resistance. Retail stocks jump ahead. Indexes and volume turn mixed. Now all indexes down as SPX hits resistance - trade picks up. Trade goes positive with negative index price. Euro affects. Nasdaq again testing 2300. Inside day with an upward bias - again closing at 1103 resistance. Trade was sketchy. -W Looks like we are getting a bounce at the open. Volume down in the early going. Indexes jump in lighter trade. Indexes vault in comparable trade. Nasdaq follows through. No real gains from stock leaders. SPX at 200 dma. No real conviction. -Tu Market opens substantially down - then quickly moves to "mixed". volume rises from pre-holiday levels. NDX forging higher highs, while SPX coming up short. Volume increases modestly. After the Nasdaq tried to breakout it pulls back. Mixed trade in mixed volume. Another failed upside attempt. Market tanks into close as stocks sank. Volume increased with drop. Indexes jump suddenly to new highs, volume still lighter. No accumulation. Dow volume doesn't confirm, Nasdaq barely does? -M Holiday weeklyobservations06122010 (reverse chrono) -F Futures indicate a lower opening after retail data. NDX back below 200 dma. Nasdaq rises to 200 dma then retreats. Indexes close with gains at highs, but volume contracts markedly and is again less than average. Again not much leading stock accumulation. The Dow snaps a 3 week losing streak. -Th Indexes again open sharply higher in lighter trade. Volume now up. Indexes close sharply higher - nearly 3%, but trade contracted. No real stock accumulation. Stocks moved up with euro. -W After Nasdaq/Dow undercut lows, putting on decent gains today. Trade is lower. Dow/Nasdaq retakes 10,000/2,200. NDX approaches 200 dma. SPX trying to hold previous correction lows. No real stock accumulation. Ugly reversal as stocks mark time turning negative, tanking into the close. Dow triple-digit gain turns into distribution. -Tu Thus far timid response to yesterday's plunge. Stocks drop sharply in much higher volume. Nasdaq undercuts low. Indexes go positive. Thus far mixed, "inside" day. Volume jumps as index close with gains. Nasdaq lags, ends lower. No stock accumulation. IBD back in "correction". Gains in sketchy trade. -M More overnight ASIA losses hitting futures. Futures pare losses. Nasdaq underperforming. Thus far an "inside" day. Indexes again tank into the close, finishing at the lows. Trade pulled back. p$
weeklyanalysis06192010 Monday: Moody's downgrade of Greek debt marked the second time a ratings agency gave it a "junk" rating. The result left the major U.S. indexes mixed. Volume rose from weak levels on Friday. The Nasdaq, Dow and S&P 500 all met resistance at or just above their 200-day moving averages. The NYSE composite continued to dwell well below that mark. The Nasdaq showed a slight, year-to-date gain briefly in late morning trade. The index closed near the bottom of the session's range. Tuesday: A slumping dollar powered broad gains in stocks and commodities Tuesday, as indexes closed at session highs. The Nasdaq led, surging 2.8% in strong volume. The NYSE composite added 2.5%, the S&P 500 2.3% and the Dow 2.1%. NYSE volume also rose. The day's action confirmed an uptrend. Wednesday: Stocks fluttered Wednesday, finishing little changed after a round of mixed economic news. The Nasdaq finished unchanged from Tuesday's close. During the session, the tech-heavy index was down as much as 0.7% and up as much as 0.5%. The Nasdaq 100, which excludes financials, rose 0.2%. Meanwhile, the Dow edged up a fraction. The NYSE composite and S&P 500 fell 0.2% and 0.1%, respectively. NYSE volume climbed due to huge trading spikes in Fannie Mae and Freddie Mac. Both will delist their common and preferred shares from the NYSE. Nasdaq trade fell and was again well below average. Thursday: espite a surprise gain in weekly jobless claims and a big drop in the Philly Fed index, stocks managed to eke out slight gains Thursday. Volume fell across the board and was well below average on both exchanges. Friday: Stocks meandered to a mildly higher finish after an uneventful session Friday. Volume surged across the board on quadruple witching. Still, the major indexes scored their second straight weekly gain. The Nasdaq climbed 3%, the NYSE composite 2.5%, the S&P 500 2.4% and the Dow 2.3%. weeklyanalysis06262010 Monday: Stock squandered gains of more than 1% to finish lower and near session lows on Monday. According to preliminary data, volume fell across the board. Tuesday: Stocks wavered for most of the session, but another round of late selling delivered the verdict Tuesday. All major indexes finished lower for the second straight session and near their intraday lows. The S&P 500 and Dow dropped 1.6% and 1.4%, respectively. Both sliced their 200-day moving averages. Meanwhile, the Nasdaq lost 1.2%. Volume rose on the NYSE, giving the NYSE indexes their first distribution day since the June 15 follow-through signal. Wednesday: Stocks seesawed to a mixed finish Wednesday as the Fed scaled down its view of the economic recovery and noted potential hurdles in Europe. New home sales tumbled to a record low. The Nasdaq fell 0.3%, but managed to close above its 200-day moving average. It breached the line intraday. Meanwhile, the S&P 500 also lost 0.3%, and the NYSE composite slipped 0.1%. The Dow squeezed out a fractional gain. Volume edged up on the NYSE but slipped on the Nasdaq. Not many leaders rose or fell in heavy turnover. Thursday: Economic worries sent stocks lower Thursday. All major indexes closed near session lows after another late sell-off. The NYSE composite dropped 1.8%, the S&P 500 1.7% and the Dow 1.4%. The Nasdaq lost 1.6%, closing back under its 200-day moving average for the first time in two weeks. Volume rose on both major exchanges. The higher turnover added a distribution day for all the major indexes. Many retail stocks stumbled. Friday: Stocks seesawed to a split finish Friday after a wave of headlines. The first-quarter gross domestic product grew slower than once thought. Consumer sentiment rose more than expected. And financial reform may be less worrisome than feared. Financials were one of the top sectors. The Financial Sector SPDR (XLF) gained nearly 3%. Volume surged across the board due to rebalancing of the Russell indexes. Still, the major indexes finished lower on the week, ending a two-week win streak. The Nasdaq and S&P 500 tumbled 3.7% each. The NYSE composite fell 3.2% and Dow 2.9%. weeklyanalysis07032010 Monday: U.S. stocks closed lower after another day of uneven trading. Leading stocks were mostly quiet. Volume figures showed the Nasdaq and NYSE composite with the lightest volumes since Dec. 31, which was a half day of trading. Tuesday: Stocks dove in massive volume Tuesday, marking the start of a new correction. The Nasdaq fell 3.8%, the NYSE composite 3.2%, the S&P 500 3.1% and the Dow 2.6%. Volume was higher on both major exchanges. Wednesday: The major indexes closed lower, after spending much of the day in positive territory. The indexes worsened in the final hour of trading as Moody's put Spain's debt rating on review for a potential downgrade. Volume was lower across the board. Thursday: The major indexes closed down but off the day's lows, hit by another round of discouraging economic reports. Volume was higher across the board. Friday: Stocks ended lower Friday, extending their losing streak. Volume was sharply lower ahead of the Fourth of July holiday. U.S. markets will be closed on Monday. The indexes had one of the worst weeks of the year. The Nasdaq tumbled 5.9%, the S&P 500 5%, the NYSE 4.9% and the Dow 4.5%. NASDAQ-100 seriously loses 200 dma. weeklyobservations06192010 (reverse chrono) -F Thus far limited upside with options expiry. Is staying right around breakeven. Gold is catching a bid. Indexes end with slight gains - higher for the second straight week. -Th Indexes give up per-market gains and open lower and move straight and significantly lower. Nasdaq volume up. Nasdaq loses 2306. Dow back at support. Some stock accumulation in the early going. Indexes do rally off low. 2306 rejected, but volume now down. Volume down as indexes again recover late-session to turn flat. -W Indexes open down in higher trade. NYSE volume up w/losses. No follow-through buying of stocks. Market again banks off lows to newer highs. Thus far a small Dow move in higher trade and a larger Nasdaq move in much smaller trade. Stocks forge higher throughout the session, but drop late-session to close mixed. No stock accumulation. Distribution day averted, NYSE composite excepted. -Tu Again SPX trying to test (1105) 200 dma. The index topped Monday at 1,106, matching major resistance spanning from 1,105 to 1,108, bracketing the June peak and the 200-day moving average. Volume mixed. Thus far, DJ and SP have reached yesterday's highs. Nasdaq is trying to move into previous resistance. No stock accumulation. Indexes break out higher in the range with 2.5 hours of trade left. Volume curiously absent. The Philadelphia semiconductor index surged 5.2%. New highs w/ 1.5 hours 'til the close. -M Asia & Europe up as well as futures indications. Nasdaq gaps above 200 dma. Volume up in the early going. Interestingly, some leading stock accumulation. NYSE volume pulls back, while Nasdaq volume slightly increases. Stocks gave up more gains after Moody's cut debt-ridden Greece's government bond rating from A3 to Ba1, or junk status. Volume now higher across the board, yet indexes fall to session lows. Stock accumulation retreats. Indexes stage a reversal and close mixed in mixed trade. Dow surrenders triple-digit gains. The Nasdaq remains above it's 200 dma. Gapped up at open then closed at lows. weeklyobservations06262010 (reverse chrono) -F Volume and indexes mixed. Indexes close mixed in much higher trade as Russell indexes rebalance. NDX distributed. -Th Indexes tumble again - but in lower volume. Volume now mixed. Volume now higher on both exchanges. Indexes coming well off lows. Indexes again reverse to close near lows. Fall was significant in higher and average trade. Distribution days stacking up - three days in a row. -W Stock futures tentatively up. Volume has increased with today's thus far decline. No stock accumulation. Another *weird* day of mixed action. -Tu Data on existing home sales will be out at 10 a.m. EDT Tuesday. The Fed also starts a two-day Fed meeting Tuesday. Indexes open modestly up, then sharply retreat along w/leaders. Indexes roar significantly lower - closing at lows in higher NYSE trade. Volume still well below average. Nasdaq again approaching 200 dma. -M Market opens sharply higher on Yuan loosening news. NDX gaps above 50 dma. Indexes tank into the close in lighter trade. NDX trade about even and well above average. SPX retreats back to just above 200 dma. NYSE volume wanes. weeklyobservations07032010 (reverse chrono) -F Modest gains in the early going. Stocks close with modest losses, but end the week severely lower. The stock market is showing few signs of turning things around. Trade lightened ahead of the holiday weekend. -Th Indexes down in higher trade after data released. Trade HUGE as indexes drop in hammer-like fashion. Indexes rally well off lows. but close lower (distribution) - below support. -W Market mixed in lower trade. Thus far muted response to latest fall. Major indexes along with the NASDAQ-100 lose support in above average trade. Very bearish finish. -Tu At the open, NDX gaps well-below 200 dma. Volume hugely higher. The consumer confidence index roiled the market as it fell to 52.9 in June from a revised 62.7 in May. Economists expected a dip to 62. The Philadelphia semiconductor index tumbled 4.8%, breaching its 200-day moving average. Elsewhere, leaders across the board got hurt. The S&P has undercut its June 8 low. S&P 500 off 3.5% in 60% increase in volume. -M Watch 1080 Volume above average, but lower than Friday's "re-balancing". Stock accumulation waning. NDX dips below 200 dma. Another inside day in below average trade. p$
weeklyanalysis07102010 Monday: Independence Day holiday. Tuesday: Stocks closed modestly higher Tuesday after starting the day up strongly, then going negative only to rebound. The Dow gained 0.6%, S&P 500 0.5%, Nasdaq 0.1% and the NYSE composite 0.8%. Volume was up sharply, albeit compared with a low-volume day preceding a holiday weekend. The daily gains ended a five-day losing streak for the indexes, except the Dow, which had fallen seven straight sessions. Wednesday: Stocks surged, and volume on the Nasdaq appeared to be just above Tuesday's level. If volume remains higher once final figures come in, Wednesday will be a follow-through day. The Dow added 2.8%, while the NYSE composite, Nasdaq and S&P 500 gained 3.1%. Thursday: Stocks were relatively quiet after hours in the second day of the new rally. On the day, indexes scored solid gains after a late-day rally picked up steam. Volume, however, was lower across the board. The Dow gained 1.2%, S&P 500 0.9%, Nasdaq 0.7% and the NYSE 1%. Friday: After a week of daily losses, indexed finished up Friday to complete a holiday-shortened week of four straight gains. The Dow gained 0.6%, Nasdaq 1%, S&P 500 0.7% and the NYSE Composite 0.8%. Weekly gains were the best in nearly a year. Volume was lower. Next week is the beginning of earnings season, which could be the make-or-break factor for this young rally. weeklyanalysis07172010 Monday: Some M&A news and the start of the second-quarter earnings failed to sway stocks much after last week's big gains. The major averages wavered to a narrowly mixed finish Monday. Volume slipped on the NYSE and rose on the Nasdaq. Tuesday: Stocks swaggered higher Tuesday, and after the close Intel (INTC) beat the Street's estimates on both earnings and revenue. The Nasdaq jumped 2%, the NYSE composite 1.7%, the S&P 500 1.5% and the Dow 1.4%. Volume was up sharply on both major exchanges. The small-cap S&P 600 led with a 3.2% pop. Tech bellwether Intel reported a triple-digit percentage gain in earnings for the third consecutive quarter. Wednesday: Stocks seesawed to a split finish Wednesday after digesting a mixed round of headlines. Techs got a boost from Intel's (INTC) upbeat earnings. But the broader market closed little changed on weak retail sales and the Fed's lowered view on economic growth. The Nasdaq rose 0.3%, closing just below its 50-day and 200-day moving averages. The Dow rose a fraction. Meanwhile, the NYSE composite lost 0.1% Thursday: Stocks rebounded from big losses to finish mixed Thursday. Buyers stepped up during the final hour on good news for Goldman Sachs (GS) and BP (BP). The NYSE composite rose 0.2% and the S&P 500 0.1%. They had been down as much as 1.3% each. Meanwhile, the Dow fell almost 0.1%, while the Nasdaq eased a fraction. Volume rose on the NYSE and fell on the Nasdaq. Friday: Uncertain outlooks from banks, disappointing earnings from Google (GOOG) and weak consumer sentiment teamed up to batter stocks Friday. The Nasdaq swooned 3.1%, closing back below the 2200 level. On Wednesday, the tech-heavy index had found resistance near its 50-day and 200-day moving averages. Meanwhile Friday, the NYSE composite fell 3% and the S&P 500 2.9%. The Dow lost 2.5%, with all 30 components ending lower. Volume climbed across the board on options expiration. weeklyobservations07102010 (reverse chrono) -F Indexes up - oh, so modestly. Volume way down, volatility way up. No stock accumulation. Indexes close as such w/ a modest upside late-day break. Lightest volume of year. -Th Indexes tenuous in much higher, in the early going. Some stock accumulation in the early going. Stock accumulation waning. Stocks that have recently broken out were among those struggling to hold gains. Indexes forge a lower low. Indexes rally into the close, as volume wanes. Indexes closed at or near their highs. -W Indexes vault, but barely volume higher. More HUGE gains on no volume. ...resulting in a follow through. -Tu Stocks are showing a technical bounce after recent sharp losses, but trade is much thinned out by the U.S. holiday. Volume modestly higher from pre-holiday levels. Indexes up 2% in lighter trade. Stock accumulation wanes. Indexes retreat from highs - volume barely higher than last week's weak levels. Stocks cling to gains - albeit much smaller in higher trade. Monster gains left scant. - weeklyobservations07172010 (reverse chrono) -F Volume HUGE due to expiry. No accumulation. DJ back to 50 dma. With option volume come large downdraft in stocks. DJ loses 50 dma. Nasdaq off 2.5%. Philadelphia semiconductor index swooned 2.3%. Nasdaq finishes off more than 3% in higher volume. Results in distribution for all the major indexes. -Th NYSE distribution. Accumulation scant. DJIA 50 dma holds for now. Indexes slowly making losses back. Stocks end very narrowly unchanged. Again NO stock accumulation. -W Indexes open mixed in lighter trade. Near midday -- still sporting modest gains. Stocks tumble into late-trade to turn negative in slightly lower trade. closed mixed as Nasdaq rises, yet finds resistance at 50 dma. Few leaders rise. -Tu Volume up with initial 1% gains after Alcoa report. All 30 Dow components notch gains. S&P +1.5%, Nasdaq +2.0% on 355 jump in volume. -M Markets open mixed. Volume increases with pullback. Still no leadership/stock accumulation. Limited upside w/ Nasdaq-100 bounce. Volume now higher on both exchanges. After much volatility, stocks are nearly unchanged. Indexes post ultra-moderate gains in mixed trade. Sketchy trade. - p$