Where Are The Entry Opportunities?
The Dow Jones Industrial Average
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$INDU |
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is putting in a second day of triple-digit gains thanks primarily to a strong
Retail Sales report. The total increase of 1.2% and ex-auto gain of 1.0%
were both considerably stronger than expected and show that the consumer
continues to help in the economic recovery. Since the open, the market has
traded in a narrow range. Many bulls are on the sidelines await entry
opportunities, which thus far have failed to materialize.
The Nasdaq once again also is trading stronger
due to two strong sectors, the biotechs and the semis.
The AMEX Biotech Sector
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$BTK.X |
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is trading stronger again today. Every stock within the Biotech Sector is
trading positive. Some of the stocks trading higher are Invitrogen
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IVGN |
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Cephalon
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CEPH |
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IMNX |
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GILD |
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Affymetrix
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AFFX |
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AMGN |
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trading at 413.73, up 17.71.
The PHLX Semiconductor Index
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$SOX.X |
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is one of the stronger indexes again today. All of the sector components are
positive. Some of the stronger stocks today are KLA-Tencor
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KLAC |
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Novellus Systems
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NVLS |
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MXIM |
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Xilinx
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XLNX |
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LLTC |
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Broadcom
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BRCM |
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Some of the stronger stocks on increased volume
today are Apollo Group
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APOL |
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the S&P 500 index today, Whole Foods Market
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WFMI |
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Systems
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DIAN |
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AMZN |
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The June US dollar
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DXM2 |
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up sharply on the Retail Sales report, while the June 10-year note
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TYM2 |
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USM2 |
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Jacobs Engineering
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JEC |
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a pullback from high on the daily chart. JEC is carrying a
3-month relative strength rank of 83 with an uptrending
ADX of 38 from TradingMarkets.com
Quest Diagnostics
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DGX |
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back from the recent high. DGX is carrying a
3-month relative strength rank of 92 with an uptrending
ADX of 36 from TradingMarkets.com.
Direct Focus
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DFXI |
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stabilizing at its 38.2% retracement and 50-day moving average. DFXI is
holding a
3-month relative strength rank of 88 with an uptrending
ADX of 31 from TradingMarkets.com.
Compass Bancshares
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CBSS |
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coming out of the pullback we profiled yesterday. CBSS is carrying a
3-month relative strength rank of 83 with an uptrending
ADX of 46 from TradingMarkets.com.
NYSE Adv/Dec is 2145/977. Nasdaq Adv/Dec is 2306/1074.