Tradingmarkets Mid-Day Movers
Nasdaq leads major indices to the downside. Crude oil futures
drop by 0.4% to $58.32.
Thursday’s
market action created 3 consecutive higher highs in a row as well as advancers
beating decliners for 3 straight days in both the S&P 500 and Nasdaq indices
(explanations below). These are bearish signals that indicate that
the bulls may be running out of steam soon. It will be interesting to see if we get more
bearish signals next week and if the markets will pullback from their recent
highs (click
here for more info).
href=”https://tradingmarkets.com.site/news/Stock%20Alert/”>
Stocks on the
Move
Hewlett Packard
(
HPQ |
Quote |
Chart |
News |
PowerRating) Q4 Earnings Surge,
Top Estimates; Guides Q1 EPS In Line (full
story). HPQ shares fall by 1.3%.
Johnson & Johnson
(
JNJ |
Quote |
Chart |
News |
PowerRating) To Acquire Conor
Medsystems
(
CONR |
Quote |
Chart |
News |
PowerRating) For Approx. $1.4 Bln (full
story). JNJ shares rise by 1%, while CONR shares jump 19%.
Starbucks Corp.
(
SBUX |
Quote |
Chart |
News |
PowerRating) Falling Following
Q4 Report (full
story). SBUX shares fall by over 6%.
Gap
(
GPS |
Quote |
Chart |
News |
PowerRating) Q3 Profit Falls On Weak Sales In
Some Areas, Higher Operative Expenses; Lowers FY06 Outlook (full
story). GPS shares trade fractionally lower.
J.M. Smucker
(
SJM |
Quote |
Chart |
News |
PowerRating) Q2 Net Income Falls On
Lower Sales, EPS Increases; Confirms FY07 Outlook (full
story). SJM shares fall by over 4%.
Autodesk
(
ADSK |
Quote |
Chart |
News |
PowerRating) Q3 Revenue Jumps 21% (full
story). ADSK shares rise by nearly 11%.
Intuit
(
INTU |
Quote |
Chart |
News |
PowerRating) GAAP Loss Widens (full
story). INTU shares fall by 6.75%.
For more stories as they happen, go to our href=”https://tradingmarkets.com.site/news/Breaking%20News/”>Breaking
News section.
width=”33%” height=18>
Dow
align=middle width=”33%” height=18>
-13.21
align=middle width=”34%” height=18>
12,292.61
width=”33%” height=16>
NASDAQ
align=middle width=”33%” height=16>
-15.08
align=middle width=”34%” height=16>
2,433.98
width=”33%” height=17>
S&P 500
align=middle width=”33%” height=17>
-3.80
align=middle width=”34%” height=17>
1,395.96
width=”33%” height=17>
align=middle width=”33%” height=17>
size=2>NYSE
align=middle width=”34%” height=17>
size=2>NASDAQ
width=”33%” height=17>
Volume
align=middle width=”33%” height=17>
1,093,470,000
align=middle width=”34%” height=17>
770,768,000
width=”33%” height=16>
Advances
align=middle width=”33%” height=16>
999
align=middle width=”34%” height=16>
806
width=”33%” height=17>
Declines
align=middle width=”33%” height=17>
2053
align=middle width=”34%” height=17>
2006
width=”33%” height=15>
Up Volume
align=middle width=”33%” height=15>
314
align=middle width=”34%” height=15>
207
width=”33%” height=17>
Down Volume
align=middle width=”33%” height=17>
631
align=middle width=”34%” height=17>
494
width=”33%” height=17>
New Hi’s
align=middle width=”33%” height=17>
94
align=middle width=”34%” height=17>
78
width=”33%” height=17>
New Lo’s
align=middle width=”33%” height=17>
12
align=middle width=”34%” height=17>
21
Strongest
Sectors
Weakest
Sectors
Amex Natural Gas Index (XNG)
href=”https://tradingmarkets.com.site/news/Economic%20News/”>
Economic
News
Housing starts dropped 14.6% in October to 1.49 million units
(1.68 million expected).Â
Building permits fell 6.3% to 1.54 million units (1.63 million
expected).
DHelvetica>arren Wong
darrenw@tradingmarkets.com
face=Arial color=#000000 size=2>
Use our
most
popular trading tool to find out how your stocks will move in the next 5
days.
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.
Adv. Issues 2-1 > Dec.
Issues
Adv. Issues > Dec. Issues 2 Days In A Row
Dec. Issues 2-1 > Advancing Issues
Dec. Issues > Advancing Issues 2 Days In A Row
All the advancing and declining issues studies
point to the same thing. Too many stocks rising in one day or over multiple days
usually precede a market that will be quiet or drop. Too many stocks declining
in one day or over multiple days usually precede a market rally, especially when
the market is above its 200 day ma.
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