Tuesday’s Stock Watch
The major indexes all
closed positive today, with above average volume signaling accumulation on the
Nasdaq. The biggest advances were in semiconductors, biotechnology,
computer hardware, and Internet stocks; as European, healthcare, airline, telecoms and utilities made for the biggest decliners.
New 52-week highs were once again dominated by banking and real estate, with the
new 52-week lows list populated mostly by telecommunications, software, drugs,
and electronics. Stocks on our watch list were mixed, with two new additions to
the “building a base” list.
Market breadth was mostly
negative, with NYSE
declining issues over advancing issues by a ratio of 1.50, and down volume over
up volume by a 1.38 ratio. Nasdaq declining issues over advancing issues came in
at 1.20, and up volume beat down volume by a 1.41 ratio.
The Dow Jones Industrial Average
(
$INDU |
Quote |
Chart |
News |
PowerRating) closed up 0.30% at 9281.82. The S&P 500
(
$SPX |
Quote |
Chart |
News |
PowerRating)
closed up 0.36% at 992.72.
The Nasdaq
(
$COMPQ |
Quote |
Chart |
News |
PowerRating) closed
up 1.34%
at 1460.35.
Â
1,363
1,451
Issues
1,641
1,934
358,307,000
225,479,000
950,594,000
1,444,815,000
Total
Volume
1,330,691,000
1,684,105,000
Highs
23
10
35
50
Top sectors:
Semiconductor Index
(
$SOX.X |
Quote |
Chart |
News |
PowerRating), up 3.99% at
395.20, and the
Biotechology Index
(
$BTK.X |
Quote |
Chart |
News |
PowerRating), up 2.90% at
346.95.
Losing sectors:
FTSE Eurotop 100 Index
(
$TOP.X |
Quote |
Chart |
News |
PowerRating), down 3.27% at
2256.18.
Morgan Stanley Healthcare
Provider Index
(
$RXH.X |
Quote |
Chart |
News |
PowerRating) down 3.27% at
343.53.
Sectors with Most New 52-Week Highs (10 or more):
Real Estate – 21
Banking – 20
Watch List Action:
Christopher & Banks Co.
(
CHBS |
Quote |
Chart |
News |
PowerRating) advanced 0.471% on above average volume.
This stock has been a strong performer relative to recent market action, and is
now forming an ascending triangle.
Panera Bread
(
PNRA |
Quote |
Chart |
News |
PowerRating) fell 1.40% on average volume for a distribution day.
This stock may form a handle in here, and potentially launch from its base.
Ideally the handle will slope down on decreasing volume to shake out the weak
holders.
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), up 0.05% on
above-average volume for an accumulation day.
Christopher & Banks Corporation
(
CHBS |
Quote |
Chart |
News |
PowerRating), up
0.47% on above average volume.
Group 1 Automotive
(
GPI |
Quote |
Chart |
News |
PowerRating), down 4.25% on
above-average volume.
size=2>Panera Bread Co
(
PNRA |
Quote |
Chart |
News |
PowerRating), down 1.41%
on 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 | 52-Week High |
| Chicos FAS Inc. | ( CHS | Quote | Chart | News | PowerRating) | 92 | 40.05 | + 0.22 | 697,900 | 38.08 | 42 |
Christopher & Banks | ( CHBS | Quote | Chart | News | PowerRating) | 95 | 40.82 | – 0.37 | 390,300 | 33.60 | 42.45 |
Group 1 Automotive | ( GPI | Quote | Chart | News | PowerRating) | 72 | 39.01 | + 0.76 | 266,900 | 33.14 | 50.08 |
size=2>Panera Bread Co | size=2> ( PNRA | Quote | Chart | News | PowerRating) | 93 | 71.07 | + 1.06 | 481,600 | 66.23 | 73.60 |
Stocks Forming a Handle
| 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 |
None | Â | Â | Â | Â | Â | Â |
Stocks Building A Base
Apollo Group Inc.
(
APOL |
Quote |
Chart |
News |
PowerRating), down 0.37% on
above average volume for a distribution day.
DR Horton Inc.
(
DHI |
Quote |
Chart |
News |
PowerRating), up 0.97% on above
average volume.
Winnebago Industries
(
WGO |
Quote |
Chart |
News |
PowerRating), down 1.24% on
above 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 |
Apollo Group Inc. | ( APOL | Quote | Chart | News | PowerRating) | 82 | 36.74 | – 0.36 | 2,176,200 |
DR Horton Inc. | ( DHI | Quote | Chart | News | PowerRating) | 89 | 26.81 | + 0.07 | 1,512,500 |
Winnebago Industries | ( WGO | Quote | Chart | News | PowerRating) | 89 | 46.58 | + 0.76 | 198,500 |
href=”mailto:danielb@tradingmarkets.com”>danielb@tradingmarkets.com
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