TradingMarkets Mid-Day Movers
Markets rally as economic data lowers inflationary
fears and crude sinks to 52-week lows;Â
Crude oil futures close fall by 1.3% at $62.35.
Thursday’s
market action created a 10 day intraday high as well as 3
straight higher intraday highs on the the Nasdaq
(explanations below), which are bearish signals. It will be interesting to see if we get more
bearish signals next week and if any trigger on the SPX, which has
surpassed its recent resistance levels near the 1315 area (click
here for more info).
href=”https://tradingmarkets.com.site/news/Stock%20Alert/”>
Stocks on the
Move
Microsoft’s Zune – A Challenge
To IPod? (full
story)Â MSFT shares rise by nearly 2%.
United Auto Workers Reveal Deal With
Ford On Voluntary Buyouts For U.S. Workforce (full
story). F shares get slammed down nearly 13%.
Adobe Q3 Earnings Fall; Top
Estimates, Ex-items; Guides Q4 In Line (full
story). ADBE shares jump over 11.5%.
KLA-Tencor Gets Delisting Notice
From NASDAQ For Not Filing Annual Report (full
story). KLAC shares are trading fractionally lower this morning.
Vornado To Purchase Up To 44
Closed Toys “R” Us Stores For Up To $190Mln (full
story). VNO shares trade higher by nearly 1%.
Credit Suisse Ups XM Satellite Radio
Holdings To Outperform From Neutral With $17 Price Target. XMSR shares
trade down by 2%.
For more stories as they happen, go to our href=”https://tradingmarkets.com.site/news/Breaking%20News/”>Breaking
News section.
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Dow
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+50.99
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11,578.38
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NASDAQ
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+6.75
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2,235.48
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S&P 500
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+4.42
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1,320.70
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size=2>NYSE
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size=2>NASDAQ
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Volume
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1,449,067,000
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1,308,078,000
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Advances
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1721
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1323
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Declines
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1344
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1414
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Up Volume
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691
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708
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Down Volume
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621
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516
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New Hi’s
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144
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95
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New Lo’s
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27
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31
Strongest
Sectors
Weakest
Sectors
Internet Index (DOT)
Health Provider Index (RXH)
(GSO)
href=”https://tradingmarkets.com.site/news/Economic%20News/”>
Economic
News
Consumer Prices Show Modest Increase In August (full
story).
New York Manufacturing Sector Sees Improvement In
September (full
story).
Industrial Production Falls Unexpectedly In August (full
story).
U. Of Mich.
Consumer Sentiment At 84.4 For Sept.
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Darren Wong
darrenw@tradingmarkets.com
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Use our
most
popular trading tool to find out how your stocks will move in the next 5
days.
10
Day High Alert-This is an alert that the market has hit a 10 day new
high intra-day today. Historically this has meant that when the market is above
its 200 day ma, little progress has been seen over the next 2-5 days (on
average) as the market is either overbought or nearing overbought conditions.
It’s a good place to be taking profits. When the market is below its 200 day ma
and the market hits a new 10 day high, it has been, on average, a good place to
be looking to put on short positions.
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.