Lack of catalysts brings choppy trading. Crude oil
futures fall by 1.4% to $60.30.
Thursday's
market action created 3 consecutive closes in the same direction and 3
consecutive intraday higher highs on both the SPX and NDX
(explanations below). These are both bearish signals and mark
a coming pullback. It will be interesting to see if we get more
bearish signals this week (click
here for more info).
Stocks on the
Move
NVIDIA (NVDA | Quote | Chart | News | PowerRating) Q3 EPS, Revenue Beat
Consensus (full
story). NVDA shares drop over 4%.
Energy Conversion (ENER | Quote | Chart | News | PowerRating) Q1 Loss Narrows
On Higher Revenues (full
story). ENER shares rises by 4.5%.
Expedia (EXPE | Quote | Chart | News | PowerRating) Q3 Profit Falls On Charge (full
story). EXPE shares fall by nearly 3%.
AIG (AIG | Quote | Chart | News | PowerRating) Q3 Profit More Than Doubles, Tops
Consensus (full
story). AIG shares rise by 2.5%
Disney (DIS | Quote | Chart | News | PowerRating) Q4 Profit More Than Doubles (full
story). DIS shares fall by 3%.
Kohl's (KSS | Quote | Chart | News | PowerRating) Q3 Profit Surges 45%, Revenues
Up, Reaffirms Q4 EPS Target, Lifts FY06 EPS Outlook (full
story). KSS shares are trading fractionally higher.
For more stories as they happen, go to our Breaking
News section.
Market Snapshot
|
Dow |
-14.24 |
12,089.06 |
|
NASDAQ |
+5.38 |
2,381.46 |
|
S&P 500
|
-0.69 |
1,377.64 |
|
|
NYSE |
NASDAQ |
|
Volume |
1,023,967,000 |
771,769,000 |
|
Advances |
1848 |
1603 |
|
Declines |
1190 |
1233 |
|
Up Volume |
478 |
400 |
|
Down Volume |
447 |
317 |
|
New Hi's |
133 |
78 |
|
New Lo's |
13 |
36 |
Strongest/Weakest Sectors
|
Strongest
Sectors |
Weakest
Sectors |
|
Nasdaq
Transportation Index (TRANX) |
Amex Gold Bugs Index Index (HUI) |
| Amex Airline Index (XAL) |
PHLX Gold and Silver Sector Index (XAU) |
| S&P Insurance Index (IUX) |
PHLX Oil Services Sector Index (OSX) |
Economic
News
No economic reports released today.
Darren Wong
darrenw@tradingmarkets.com
Use our
most
popular trading tool to find out how your stocks will move in the next 5
days.
3 Consecutive Closes Same
Direction- Three consecutive higher closes many times leads to a
short-term quiet market over the next few days when the market is above its 200
day ma. When it's below, 3 consecutive higher closes has been an excellent time
to enter short positions.
The opposite is true for 3 consecutive lower
closes. When its occurred above the 200 day ma, it's been a good time to be a
buyer. Below the 200 day, its been a good place to lock in short profits.
3
Higher Highs In A Row and 3 Lower Lows In A Row- The same tactics
applied to 3 consecutive closes in the same direction apply here. 3 higher highs
identifies a market that is overbought, especially when its below its 200 day
ma. 3 consecutive lower lows is an excellent time to be looking for long
positions when the market is above its 200 and to be locking in short positions
when its below its 200 day.
