Thursday’s Stock Watch
The markets closed mixed
atop another day of heavy volume. Telecoms, Internet, airline, and
healthcare providers represented the day’s strength, with oil service, computer
hardware, natural gas, and pharmaceuticals taking the biggest losses. The Dow
moved below its 50-day moving average, with the S&P 500 and Nasdaq still below
this mark. New-52 week highs lightened up from yesterday’s action, with the lows
list remaining quiet. Stocks on our watch list were mixed.
Market breadth was mostly positive, with NYSE
advancing issues over declining issues by a ratio of 1.12, and down volume over
up volume by a 1.26 ratio. Nasdaq advancing issues over declining issues came in
at 1.08, and up volume beat down volume by a 1.52 ratio.
The Dow Jones Industrial Average
(
$INDU |
Quote |
Chart |
News |
PowerRating) closed down 0.52% at 10243.82. The S&P 500
(
$SPX |
Quote |
Chart |
News |
PowerRating)
closed down 0.56% at 1091.07.
The Nasdaq
(
$COMPQ |
Quote |
Chart |
News |
PowerRating) closed up 0.37 at 1725.57.
Â
1,675
1,817
Issues
1,493
1,687
610,338,000
1,319,487,000
768,967,000
870,045,000
Total
Volume
1,391,214,000
2,233,541,000
Highs
39
40
6
2
Top sectors:
Japan Index
(
$JPN.X |
Quote |
Chart |
News |
PowerRating), up 2.38% at
122.84.
GSTI Services Index
(
$GSV.X |
Quote |
Chart |
News |
PowerRating),
up 1.84% at 159.13.
Losing sectors:
Oil
Service Sector
Index
(
$OSX.X |
Quote |
Chart |
News |
PowerRating) down
3.80% at
106.10.
GSTI
Hardware
Index
(
$GHA.X |
Quote |
Chart |
News |
PowerRating)
down 3.07% at 222.47.
Sectors with Most New 52-Week Highs:
Banking – 50
Consumer Non-Durables – 13
Diversified Services – 12
Retail – 12
Watch List Action:
Christopher & Banks Co.
(
CHBS |
Quote |
Chart |
News |
PowerRating) took back some of yesterday’s gains
as it fell 1.58% on below average volume. The pattern established of lower
volume on down days is what we like to see.
Beazer Homes
(
BZH |
Quote |
Chart |
News |
PowerRating) fell 4.37% on average volume. The stock continues to form
a choppy handle, making any breakout less attractive. DR Horton
(
DHI |
Quote |
Chart |
News |
PowerRating), which
is also on our “handles” list, is also displaying a choppy pattern as it flirts
with its 50-day moving average.Â
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.
Chicos FAS Inc.
(
CHS |
Quote |
Chart |
News |
PowerRating), down 0.07% on
below-average volume for an distribution day.
Christopher & Banks Corporation
(
CHBS |
Quote |
Chart |
News |
PowerRating), down
1.58% on
below-average volume.
Group 1 Automotive
(
GPI |
Quote |
Chart |
News |
PowerRating), up 1.03% on
below-average volume.
size=2>Panera Bread Co
(
PNRA |
Quote |
Chart |
News |
PowerRating), up 0.54%
on below-average
volume.
| 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 |
| Chicos FAS Inc. | ( CHS | Quote | Chart | News | PowerRating) | 94 | 40.58 | – 0.03 | 659,100 | 38.08 | 40.73 |
Christopher & Banks | ( CHBS | Quote | Chart | News | PowerRating) | 92 | 40.96 | – 0.66 | 518,100 | 33.60 | 39.25 |
Group 1 Automotive | ( GPI | Quote | Chart | News | PowerRating) | 95 | 49.71 | + 0.51 | 277,600 | 42.23 | 46.72 |
size=2>Panera Bread Co | size=2> ( PNRA | Quote | Chart | News | PowerRating) | 92 | 68.44 | + 0.37 | 408,700 | 66.74 | 72.05 |
Stocks Forming a Handle
Beazer Homes
(
BZH |
Quote |
Chart |
News |
PowerRating), down 4.38%
size=2>
on average volume.
DR Horton Inc.
(
DHI |
Quote |
Chart |
News |
PowerRating), down 1.75% on light
volume.
Right Mgt. Consultants
(
RMCI |
Quote |
Chart |
News |
PowerRating), down 0.80% on
below average volume.
Winnebago Industries
(
WGO |
Quote |
Chart |
News |
PowerRating) up 0.63% on
below-average volume.
| 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) | 79 | 84.24 | – 3.86 | 596,800 | 91.45 |
DR Horton Inc. | ( DHI | Quote | Chart | News | PowerRating) | 87 | 25.76 | – 0.46 | 2,271,800 | 27.14 |
Right Mgt. Consultants | ( RMCI | Quote | Chart | News | PowerRating) | 90 | 26.95 | – 0.22 | 307,700 | 28.95 |
Winnebago Industries | ( WGO | Quote | Chart | News | PowerRating) | 95 | 48.90 | + 0.31 | 234,900 | 49.60 |
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 |
href=”mailto:danielb@tradingmarkets.com”>danielb@tradingmarkets.com
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