Friday’s Stock Watch
The markets
ended mixed today with heavy volume accompanying the Dow to a small gain,
the S&P 500 to a small loss, and the Nasdaq made its lowest close since last
October. Forest and paper, oil service, banks, and transportation led the
gainers list, while semiconductors, software, Internet, and biotechnology took
the heaviest hits. Banking once again clearly dominated the new 52-week highs
list. Stocks on our watch list were all green with one breakout.
Market breadth was mixed, with NYSE
advancing issues over declining issues by a ratio of 1.41, and down volume over
up volume by a 1.10 ratio. Nasdaq declining issues over advancing issues came in
at 1.05, and down volume beat up volume by a 6.12 ratio.
The Dow Jones Industrial Average
(
$INDU |
Quote |
Chart |
News |
PowerRating) closed up 0.30% at 10090.14. The S&P 500
(
$SPX |
Quote |
Chart |
News |
PowerRating)
closed down 0.17% at 1084.53.
The Nasdaq [$COMPQ |$COMPQ] closed down 1.94% at 1644.88.
Â
1,831
1,700
Issues
1,295
1,779
639,755,000
284,453,000
703,019,000
1,739,782,000
Total
Volume
1,351,219,000
2,167,037,000
Highs
93
50
9
14
Top sectors:
Forest and Paper Prod Sect  Index
(
$FPP.X |
Quote |
Chart |
News |
PowerRating), up 2.05% at
359.85, and the
Oil Service Sector Index
(
$OSX.X |
Quote |
Chart |
News |
PowerRating),
up 1.81% at 110.38.
Losing sectors:
Semiconductor Index
(
$SOX.X |
Quote |
Chart |
News |
PowerRating) down 4.34% at 504.05.
GSTI Software
Index
(
$GSO.X |
Quote |
Chart |
News |
PowerRating) down 4.11% at 123.86.
Sectors with Most New 52-Week Highs:
Banking – 76
Consumer Non Durables – 27
Real Estate – 18
Food and Beverage – 15
Diversified Services – 14
Materials and Construction – 14
Utilities – 14
Manufacturing – 13
Retail – 13
Insurance – 12
Specialty – 12
Wholesale – 12
Consumer Durables – 10
Health Services – 10
Leisure – 10
Watch List Action:
Panera Bread Co
(
PNRA |
Quote |
Chart |
News |
PowerRating) broke out today with a 3.98% advance on almost
three times average volume. This is the stock’s second breakout move within a
month and encouraging to see. Notice the two accumulation days prior to today’s
move.
Christopher & Banks
(
CHBS |
Quote |
Chart |
News |
PowerRating) gained 3.41% on below average volume for an
accumulation day. The stock appears to be moving out of its handle.
Recent Breakouts
size=2>We monitor the action of Recent Breakouts as an indicator of
the market health for IT traders. When breakouts are acting well, this is a good
sign for the likelihood of further sustainable breakouts. When breakouts are
failing, IT traders should be even more cautious.
Christopher & Banks Corporation
(
CHBS |
Quote |
Chart |
News |
PowerRating), up
3.41% on below-average volume for an accumulation
day.
Group 1 Automotive
(
GPI |
Quote |
Chart |
News |
PowerRating), up 2.47% on
average volume.
size=2>Panera Bread Co
(
PNRA |
Quote |
Chart |
News |
PowerRating), up 3.98%
on almost three times average volume for a
breakout.
| color=#ffffff size=2>Company Name | color=#ffffff size=2>Symbol | color=#ffffff size=2>12 Month RS | color=#ffffff size=2>Price | color=#ffffff size=2>Price Change | color=#ffffff size=2>Average Volume | Pivot | 52-Week High |
Christopher & Banks | ( CHBS | Quote | Chart | News | PowerRating) | 89 | 38.67 | + 1.43 | 515,300 | 33.60 | 39.25 |
Group 1 Automotive | ( GPI | Quote | Chart | News | PowerRating) | 95 | 47.70 | + 1.15 | 303,900 | 42.23 | 46.72 |
size=2>Panera Bread Co | size=2> ( PNRA | Quote | Chart | News | PowerRating) | 92 | 71.80 | + 2.75 | 395,200 | 66.74 | 72.05 |
Stocks Forming a Handle
Beazer Homes
(
BZH |
Quote |
Chart |
News |
PowerRating), up 0.16% on
above-average volume for its second accumulation day in a row.
| color=#ffffff size=2>Company Name | color=#ffffff size=2>Symbol | color=#ffffff size=2>12 Month RS | color=#ffffff size=2>Price | color=#ffffff size=2>Price Change | color=#ffffff size=2>Average Volume | Pivot |
Beazer Homes | ( BZH | Quote | Chart | News | PowerRating) | 86 | 91.55 | + 0.15 | 581,100 | 91.45 |
Stocks Building A Base
color=#ffffff size=2>Company Name | color=#ffffff size=2>Symbol | color=#ffffff size=2>12 Month RS | color=#ffffff size=2>Price | color=#ffffff size=2>Price Change | color=#ffffff size=2>Average Volume |
None | Â | Â | Â | Â | Â |
Â
href=”mailto:danielb@tradingmarkets.com”>danielb@tradingmarkets.com
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