Wednesday’s Stock Watch
The markets ended mixed on
below-average volume. The biggest gainers of the day were gold and
silver, Japan, healthcare, utilities, and airlines, with the biggest losers
networking, semiconductors, Mexico, and oil service stocks. New 52-week highs
were once again dominated by banking and real estate. Stocks on our watch list
were mostly down.
Market breadth was mostly positive, with NYSE
advancing issues over declining issues by a ratio of 1.06, and up-volume over
down-volume by a 1.12 ratio. Nasdaq declining issues over advancing issues came
in at 1.14, and up-volume beat down-volume by a 1.26 ratio.
The Dow Jones Industrial Average
(
$INDU |
Quote |
Chart |
News |
PowerRating) closed up 0.19% at 9706.12. The S&P 500
(
$SPX |
Quote |
Chart |
News |
PowerRating)
closed up 0.09% at 1037.11. The
Nasdaq
(
$COMPQ |
Quote |
Chart |
News |
PowerRating) closed down 0.67%
at 1542.81.
1,565
1,715
Issues
1,480
1,714
595,557,000
920,000,000
532,201,000
879,000,000
Total
Volume
1,149,409,000
1,824,667,000
Highs
bad data
bad data
bad data
bad data
Top sectors:
Gold and Silver Index
(
$XAU.X |
Quote |
Chart |
News |
PowerRating), up 3.72% at
76.39.
Japan Index
(
$JPN.X |
Quote |
Chart |
News |
PowerRating), up 1.57% at
114.37.
Losing sectors:
Networking Index
(
$NWX.X |
Quote |
Chart |
News |
PowerRating), down 3.73% at
165.99.
GSTI Multimedia Index
(
$GIP.X |
Quote |
Chart |
News |
PowerRating), down 2.22% at
70.41.
Sectors with Most New 52-Week Highs (10 or more):
Banking — 19
Real Estate — 13
Watch List Action:
Panera Bread Company
(
PNRA |
Quote |
Chart |
News |
PowerRating) rose 1.17% on above-average volume for its
second accumulation day in a row. The stock appears to be heading to test its
resistance above 72.
Christopher and Banks
(
CHBS |
Quote |
Chart |
News |
PowerRating) was our biggest loser of the day as it fell
3.05% on low volume. The stock’s uptrend remains intact, as it challenges new
highs. For the past three weeks, the stock has made two clear accumulation days
with one distribution day.
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.
Chico’s FAS Inc.
(
CHS |
Quote |
Chart |
News |
PowerRating), down 1.82% on
below-average volume.
Christopher & Banks Corporation
(
CHBS |
Quote |
Chart |
News |
PowerRating), down
3.05% on low volume.
Group 1 Automotive
(
GPI |
Quote |
Chart |
News |
PowerRating), down 1.14% on
below-average volume for a distribution day.
size=2>Panera Bread Co
(
PNRA |
Quote |
Chart |
News |
PowerRating), up 1.17%
on above-average volume for its second accumulation day
in a row.
| 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 |
| Chico’s FAS Inc. | ( CHS | Quote | Chart | News | PowerRating) | 92 | 39.83 | – 0.74 | 697,900 | 38.08 | 42.00 |
Christopher & Banks | ( CHBS | Quote | Chart | News | PowerRating) | 95 | 41.19 | – 1.30 | 390,300 | 33.60 | 42.45 |
Group 1 Automotive | ( GPI | Quote | Chart | News | PowerRating) | 72 | 38.25 | – 0.25 | 266,900 | 33.14 | 50.08 |
size=2>Panera Bread Co | size=2> ( PNRA | Quote | Chart | News | PowerRating) | 93 | 70.01 | + 0.81 | 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 |
Stocks Building A Base
Winnebago Industries
(
WGO |
Quote |
Chart |
News |
PowerRating), down 0.60% at
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 |
Winnebago Industries | ( WGO | Quote | Chart | News | PowerRating) | 89 | 45.82 | – 0.28 | 198,500 |
href=”mailto:danielb@tradingmarkets.com”>danielb@tradingmarkets.com
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