Tuesday’s Stock Watch
The markets gave back some
of last Friday’s gains as below average volume came in on the exchanges.
Gold and silver was the big winner of the day with banks and airline
stock also showing gains. The biggest losers were software, semiconductors,
Internet, and computer technology. New 52-week lows dominated the highs, with
software, drugs, and electronics once again putting up the most numbers. Stocks
on our watch list were mixed.
Market breadth was negative, with NYSE
advancing issues over declining issues by a ratio of 1.20, and down volume over
up volume by a 1.01 ratio. Nasdaq declining issues over advancing issues came in
at 1.70, and down volume beat up volume by a 4.41 ratio.
The Dow Jones Industrial Average
(
$INDU |
Quote |
Chart |
News |
PowerRating) closed down 1.11% at 9274.90. The S&P 500
(
$SPX |
Quote |
Chart |
News |
PowerRating)
closed down 1.21% at 976.98.
The Nasdaq
(
$COMPQ |
Quote |
Chart |
News |
PowerRating) closed up
2.94% at 1405.67.
Â
 1,652
 1,237
Declining Issues
 1,466
 2,097
 652,972,130
 239,323,800
 695,204,000
 1,061,268,200
Total
Volume
 1,356,583,160
 1,307,651,500
Highs
 57
83
  134
170
Top sectors:
Gold and Silver Index
(
$XAU.X |
Quote |
Chart |
News |
PowerRating), up 3.88% at
72.55, and the
Mexico Index
(
$MXY.X |
Quote |
Chart |
News |
PowerRating), up
0.82% at 93.76.
Losing sectors:
GSTI Software Index
(
$GSO.X |
Quote |
Chart |
News |
PowerRating), down 4.97% at
105.72, and the
Semiconductor Index
(
$SOX.X |
Quote |
Chart |
News |
PowerRating),
down 4.42% at 375.86.
Sectors with Most New 52-Week Highs (10 or more):
None
Watch List Action:
Christopher and Banks Co.
(
CHBS |
Quote |
Chart |
News |
PowerRating) was our biggest gainer of the day as it
rose 5.12% on above average volume for an accumulation day. This one looks ready
for new highs.
Penn National Gaming
(
PENN |
Quote |
Chart |
News |
PowerRating) rose 1.02% on below average volume. Though
Friday was a half day, we’ll call this an accumulation day because it took out
the volume from Wednesday’s session. The stock tested its 50-day moving average
at its high today.
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
(
CHBS |
Quote |
Chart |
News |
PowerRating), up 5.36% on
above average volume for an accumulation day.
| 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) | 90 | 43.40 | + 2.21 | 358,000 | 33.60 | 42.45 |
Stocks Forming a Handle
Apollo Group Inc.
(
APOL |
Quote |
Chart |
News |
PowerRating), down 1.66% size=2>
on
below average volume for a distribution
day.
| 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 |
Apollo Group Inc. | ( APOL | Quote | Chart | News | PowerRating) | 83 | 38.46 | – 0.65 | 2,314,200 | 40.08 |
Stocks Building A Base
Coach Inc.
(
COH |
Quote |
Chart |
News |
PowerRating), up 0.94% size=2>
on below average
volume.
DR Horton Inc.
(
DHI |
Quote |
Chart |
News |
PowerRating), up 0.55% size=2>
on below average
volume.
Penn National Gaming
(
PENN |
Quote |
Chart |
News |
PowerRating), up 1.01% size=2>
on below average
volume.
Winnebago Industries
(
WGO |
Quote |
Chart |
News |
PowerRating), down 2.44% size=2>
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 |
Coach Inc. | ( COH | Quote | Chart | News | PowerRating) | 91 | 25.74 | – 0.07 | 1,214,600 |
DR Horton Inc. | ( DHI | Quote | Chart | News | PowerRating) | 88 | 25.38 | – 0.70 | 1,392,200 |
Penn National Gaming | ( PENN | Quote | Chart | News | PowerRating) | 88 | 16.87 | + 0.17 | 606,300 |
Winnebago Industries | ( WGO | Quote | Chart | News | PowerRating) | 89 | 43.97 | – 1.10 | 217,600 |
href=”mailto:danielb@tradingmarkets.com”>danielb@tradingmarkets.com
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