weeklyanalysis11272010
Euro-zone fears and worries over the financial sector pressured stocks, but they fought back to a mixed finish Monday.
The Nasdaq rose 0.6% after having been down as much as 0.7%. It found support near the 2500 level. The NYSE composite fell 0.4%, while the Dow and S&P 500 lost 0.2% each. All three were down between 1.3% and 1.5% at session lows. Volume fell on both exchanges.
A number of leaders had a nice day. About 78 stocks in the IBD 100 ended higher.
Worries over the euro zone and a brief artillery exchange between North and South Korea, 60 years after the two countries went to war, sent stocks deeper into a correction Tuesday. Unlike the past three sessions where stocks rebounded to close near their intraday highs, there was no such comeback Tuesday.
The NYSE composite dropped 1.8% and closed below its 50-day moving average for the first time since Aug. 31, the day before the market's most recent follow-through. The Dow fell 1.3%, closing a tad above its 50-day line. The Nasdaq and S&P 500 lost 1.5% and 1.4%, respectively. Volume rose across the board.
Stocks logged big gains Wednesday as investors set aside global fears and focused on better-than-expected jobless claims and sentiment data.
The Nasdaq rallied 1.9% and the S&P 500 1.5%. The Dow and NYSE composite gained 1.4% each. Despite the big moves, volume fell sharply across the board.
Some retailers again showed nice gains. The S&P retail index tacked on 2.6% and neared a seven-month high.
U.S. Markets were closed in observance of the Thanksgiving Day holiday.
Stocks fell in light, post-holiday trading Friday as euro-zone debt worries and Korean tensions resurfaced.
The NYSE composite slid 1%, the Dow 0.9%, the S&P 500 0.7% and the Nasdaq 0.3%. Volume dropped sharply on both exchanges as the market closed three hours early.
For the week, the major indexes finished mixed. The Nasdaq was the only gainer, rising 0.7%. The NYSE composite dropped 1.8%, the Dow 1%, the S&P 500 0.9%.
weeklyobservations11272010
(reverse chrono)
-
-F
Indexes close down in mixed volume during a shortened trading session.
Leadership accumulation, muted.
Stocks recover majority of losses, but still end in distribution.
Trade jumped from Friday's anemic levels - but was not quite above average.
-W
NASDAQ-100 vaults 50 points in lower trade.
Nasdaq at 2535 resistance.
Stocks logged big gains Wednesday as investors set aside global fears and focused on better-than-expected jobless claims and sentiment data. The Nasdaq rallied 1.9% and the S&P 500 1.5%. The Dow and NYSE composite gained 1.4% each. Despite the big moves, volume fell sharply across the board. Some retailers again showed nice gains.
-Tu
Korean conflict ignites gap lower for stocks.
Market falls substantially in mixed (NYSE +) volume.
Stocks end much lower in elevated trade.
IBD 100 falls 1.6%.
-M
Stocks open much lower, but suddenly move back up to 1200 resistance level.
then plunged sharply to much lower new levels.
Stocks then fight to a mixed finish, considering Euro worries.
Trade lessened and fell below average.
IBD 100 surges 1.7%.
weeklyanalysis11202010
The major indexes finished mostly lower Monday after climbing out of the gate on merger news.
The Dow rose 0.1%, while the Nasdaq shed 0.2% and the NYSE and S&P 500 lost 0.1%. Volume was down across the board, according to preliminary data.
The major indexes tumbled in a broad sell-off Tuesday, as concerns about a slowdown in China and Ireland's debt problems appeared to weigh on the market.
The NYSE shed 1.9%, while the Nasdaq fell 1.8%. The S&P 500 and Dow each lost 1.6%. Volume climbed across the board, and all four major indexes picked up a distribution day.
Nearly all of IBD's 197 industry groups lost ground. Solar stocks and specialty steel firms were hit the hardest as commodities took many of the punches.
Stocks tried to bounce back from the prior session's beating Wednesday, but they had to settle for a narrowly mixed finish.
The Nasdaq and NYSE composite rose 0.2% each, while the S&P 500 ticked up a fraction. All three rose for the first time in five sessions. The Dow slipped 0.1% but again closed just above its 50-day moving average. Volume dropped sharply from Tuesday's pace, suggesting no support from institutions after Tuesday's sell-off.
Some retailers showed strength.
Stocks surged and added to recent rebound efforts Thursday, thanks to easing fears over Ireland's sovereign debt and a round of mostly upbeat economic data. The market fell into a correction Wednesday.
The NYSE composite climbed 1.8%, while the Dow and Nasdaq gained 1.6% each. Meanwhile, the S&P 500 climbed 1.5%. Intraday, the benchmark S&P index bumped into resistance at 1200. Volume jumped on both major exchanges.
Stocks shrugged off overseas news to end slightly higher Friday. China raised bank reserve requirements for a second time in efforts to cool inflation.
The S&P 500 rose 0.3%, closing just a hair under resistance at the 1200 level. The NYSE composite also gained 0.3%, while the Dow climbed 0.2% and the Nasdaq 0.1%. Volume dropped sharply across the board.
For the week, the NYSE composite rose 0.2% and Dow 0.1%. The S&P 500 rose a fraction and the Nasdaq eased a fraction. Despite this, all four found support at their 10-week moving averages.
Leaders put in a strong performance.
weeklyobservations11202010
(reverse chrono)
-
-F
Stocks end slightly higher.
Volume cooled.
Some leaders participate.
-Th
Stocks open w/ a blast higher as dollar slides, attempting to re-take key levels.
Currently +1.7%
NYSE trade zooms due to GM IPO (not so much NASDAQ).
Accumulation huge in the early going, yet waned to "good".
SPX is stalling at 1200.
Not much volume into leading stocks.
Top-rated stocks started strong, but volume faded as the day progressed.
The IBD 100 advanced 1.8%.
-W
Stocks close mixed.
Volume fell sharply.
Some leaders accumulated.
-Tu
Stocks take a beating on global concerns.
Volume surged adding distribution across the board.
Market falls into a correction.
-M
Stocks end a volatile session - mixed in lower trade.
Leadership wanes.
weeklyanalysis11132010
Stocks finished narrowly mixed Monday as a higher dollar pressured the broader market. But techs nudged higher. Equities have come a long way since the Sept. 1 follow through. Last week, all four of the major averages hit two-year highs.
The Nasdaq rose a fraction, while the Nasdaq 100 edged up 0.1%. Meanwhile, the Dow lost 0.3%. The NYSE composite and the S&P 500 slipped 0.2% each. Volume fell sharply on both major exchanges.
Stocks reversed lower as the dollar rallied Tuesday.
The NYSE composite slumped 1%, the S&P 500 0.8%, Nasdaq 0.7% and Dow 0.5%. Volume jumped across the board, giving all four of the major indexes a distribution day. Five to six distribution days over a few weeks can derail a rally.
A distribution day involves a sizable loss in a major index in rising volume. It points to institutional selling.
A number of leaders sold off in heavy volume Tuesday.
Stocks reversed higher Wednesday and gained back lost ground after the prior session's distribution. But turnover fell across the board, dampening the significance of the gains.
The Nasdaq and NYSE gained 0.6% each, while the S&P 500 rose 0.4%. The Dow edged up 0.1% as gains in Chevron (CVX) and 3M (MMM) were offset by a 3% loss in Boeing (BA). Volume fell across the board ahead of Thursday's Veterans Day.
Cisco Systems' (CSCO) weak outlook and a higher dollar didn't provide a positive backdrop for stocks. Equities bounced back from another bad start, but still ended lower Thursday.
The Nasdaq dropped 0.9%, up from a 2.1% deficit. The Dow lost 0.7%, the S&P 500 0.4% and the S&P 500 0.3%. NYSE volume fell sharply. Nasdaq trade surged as Cisco traded more than 400 million more shares than it did Wednesday.
Worries that China might raise its interest rates pressured stocks Friday. Equities also erased the bulk of last week's work.
The Nasdaq dropped 1.5%, the NYSE composite lost 1.3%, the S&P 500 shed 1.2% and the Dow fell 0.8%. Volume rose on the NYSE, giving the Dow, NYSE composite and S&P 500 a distribution day. The Nasdaq avoided a distribution day as volume fell.
For the week, the Nasdaq fell 2.4% and NYSE composite 2.3%. The Dow and S&P 500 fell 2.2% each.
weeklyobservations11132010
(reverse chrono)
-
-F
Worries that China might raise its interest rates pressured stocks Friday. Equities also erased the bulk of last week's work.
The Nasdaq dropped 1.5%, the NYSE composite lost 1.3%, the S&P 500 shed 1.2% and the Dow fell 0.8%. Volume rose on the NYSE, giving the Dow, NYSE composite and S&P 500 a distribution day. The Nasdaq avoided a distribution day as volume fell.
For the week, the Nasdaq fell 2.4% and NYSE composite 2.3%. The Dow and S&P 500 fell 2.2% each.
On Friday, the Nasdaq finished below its April 23 high.
Market now "under pressure".
Big-cap leaders took hit.
-Th
Stocks end lower, but well off deep lows.
Leaders modestly hit.
NYSE trade lower as Nasdaq distributed.
-W
Stocks gain modestly after recouping large losses.
Volume ended mixed as some leaders rose.
Cisco report plunges futures after hours.
-Tu
Volume spikes as market engages in distribution.
Dollar gains steam.
Distribution occurs in above-average volume.
-M
Market vacillates in the early going - thus far holding key levels - in much lower trade.
Leadership scant.
Euro-zone fears and worries over the financial sector pressured stocks, but they fought back to a mixed finish Monday.
The Nasdaq rose 0.6% after having been down as much as 0.7%. It found support near the 2500 level. The NYSE composite fell 0.4%, while the Dow and S&P 500 lost 0.2% each. All three were down between 1.3% and 1.5% at session lows. Volume fell on both exchanges.
A number of leaders had a nice day. About 78 stocks in the IBD 100 ended higher.
Worries over the euro zone and a brief artillery exchange between North and South Korea, 60 years after the two countries went to war, sent stocks deeper into a correction Tuesday. Unlike the past three sessions where stocks rebounded to close near their intraday highs, there was no such comeback Tuesday.
The NYSE composite dropped 1.8% and closed below its 50-day moving average for the first time since Aug. 31, the day before the market's most recent follow-through. The Dow fell 1.3%, closing a tad above its 50-day line. The Nasdaq and S&P 500 lost 1.5% and 1.4%, respectively. Volume rose across the board.
Stocks logged big gains Wednesday as investors set aside global fears and focused on better-than-expected jobless claims and sentiment data.
The Nasdaq rallied 1.9% and the S&P 500 1.5%. The Dow and NYSE composite gained 1.4% each. Despite the big moves, volume fell sharply across the board.
Some retailers again showed nice gains. The S&P retail index tacked on 2.6% and neared a seven-month high.
U.S. Markets were closed in observance of the Thanksgiving Day holiday.
Stocks fell in light, post-holiday trading Friday as euro-zone debt worries and Korean tensions resurfaced.
The NYSE composite slid 1%, the Dow 0.9%, the S&P 500 0.7% and the Nasdaq 0.3%. Volume dropped sharply on both exchanges as the market closed three hours early.
For the week, the major indexes finished mixed. The Nasdaq was the only gainer, rising 0.7%. The NYSE composite dropped 1.8%, the Dow 1%, the S&P 500 0.9%.
weeklyobservations11272010
(reverse chrono)
-
-F
Indexes close down in mixed volume during a shortened trading session.
Leadership accumulation, muted.
Stocks recover majority of losses, but still end in distribution.
Trade jumped from Friday's anemic levels - but was not quite above average.
-W
NASDAQ-100 vaults 50 points in lower trade.
Nasdaq at 2535 resistance.
Stocks logged big gains Wednesday as investors set aside global fears and focused on better-than-expected jobless claims and sentiment data. The Nasdaq rallied 1.9% and the S&P 500 1.5%. The Dow and NYSE composite gained 1.4% each. Despite the big moves, volume fell sharply across the board. Some retailers again showed nice gains.
-Tu
Korean conflict ignites gap lower for stocks.
Market falls substantially in mixed (NYSE +) volume.
Stocks end much lower in elevated trade.
IBD 100 falls 1.6%.
-M
Stocks open much lower, but suddenly move back up to 1200 resistance level.
then plunged sharply to much lower new levels.
Stocks then fight to a mixed finish, considering Euro worries.
Trade lessened and fell below average.
IBD 100 surges 1.7%.
weeklyanalysis11202010
The major indexes finished mostly lower Monday after climbing out of the gate on merger news.
The Dow rose 0.1%, while the Nasdaq shed 0.2% and the NYSE and S&P 500 lost 0.1%. Volume was down across the board, according to preliminary data.
The major indexes tumbled in a broad sell-off Tuesday, as concerns about a slowdown in China and Ireland's debt problems appeared to weigh on the market.
The NYSE shed 1.9%, while the Nasdaq fell 1.8%. The S&P 500 and Dow each lost 1.6%. Volume climbed across the board, and all four major indexes picked up a distribution day.
Nearly all of IBD's 197 industry groups lost ground. Solar stocks and specialty steel firms were hit the hardest as commodities took many of the punches.
Stocks tried to bounce back from the prior session's beating Wednesday, but they had to settle for a narrowly mixed finish.
The Nasdaq and NYSE composite rose 0.2% each, while the S&P 500 ticked up a fraction. All three rose for the first time in five sessions. The Dow slipped 0.1% but again closed just above its 50-day moving average. Volume dropped sharply from Tuesday's pace, suggesting no support from institutions after Tuesday's sell-off.
Some retailers showed strength.
Stocks surged and added to recent rebound efforts Thursday, thanks to easing fears over Ireland's sovereign debt and a round of mostly upbeat economic data. The market fell into a correction Wednesday.
The NYSE composite climbed 1.8%, while the Dow and Nasdaq gained 1.6% each. Meanwhile, the S&P 500 climbed 1.5%. Intraday, the benchmark S&P index bumped into resistance at 1200. Volume jumped on both major exchanges.
Stocks shrugged off overseas news to end slightly higher Friday. China raised bank reserve requirements for a second time in efforts to cool inflation.
The S&P 500 rose 0.3%, closing just a hair under resistance at the 1200 level. The NYSE composite also gained 0.3%, while the Dow climbed 0.2% and the Nasdaq 0.1%. Volume dropped sharply across the board.
For the week, the NYSE composite rose 0.2% and Dow 0.1%. The S&P 500 rose a fraction and the Nasdaq eased a fraction. Despite this, all four found support at their 10-week moving averages.
Leaders put in a strong performance.
weeklyobservations11202010
(reverse chrono)
-
-F
Stocks end slightly higher.
Volume cooled.
Some leaders participate.
-Th
Stocks open w/ a blast higher as dollar slides, attempting to re-take key levels.
Currently +1.7%
NYSE trade zooms due to GM IPO (not so much NASDAQ).
Accumulation huge in the early going, yet waned to "good".
SPX is stalling at 1200.
Not much volume into leading stocks.
Top-rated stocks started strong, but volume faded as the day progressed.
The IBD 100 advanced 1.8%.
-W
Stocks close mixed.
Volume fell sharply.
Some leaders accumulated.
-Tu
Stocks take a beating on global concerns.
Volume surged adding distribution across the board.
Market falls into a correction.
-M
Stocks end a volatile session - mixed in lower trade.
Leadership wanes.
weeklyanalysis11132010
Stocks finished narrowly mixed Monday as a higher dollar pressured the broader market. But techs nudged higher. Equities have come a long way since the Sept. 1 follow through. Last week, all four of the major averages hit two-year highs.
The Nasdaq rose a fraction, while the Nasdaq 100 edged up 0.1%. Meanwhile, the Dow lost 0.3%. The NYSE composite and the S&P 500 slipped 0.2% each. Volume fell sharply on both major exchanges.
Stocks reversed lower as the dollar rallied Tuesday.
The NYSE composite slumped 1%, the S&P 500 0.8%, Nasdaq 0.7% and Dow 0.5%. Volume jumped across the board, giving all four of the major indexes a distribution day. Five to six distribution days over a few weeks can derail a rally.
A distribution day involves a sizable loss in a major index in rising volume. It points to institutional selling.
A number of leaders sold off in heavy volume Tuesday.
Stocks reversed higher Wednesday and gained back lost ground after the prior session's distribution. But turnover fell across the board, dampening the significance of the gains.
The Nasdaq and NYSE gained 0.6% each, while the S&P 500 rose 0.4%. The Dow edged up 0.1% as gains in Chevron (CVX) and 3M (MMM) were offset by a 3% loss in Boeing (BA). Volume fell across the board ahead of Thursday's Veterans Day.
Cisco Systems' (CSCO) weak outlook and a higher dollar didn't provide a positive backdrop for stocks. Equities bounced back from another bad start, but still ended lower Thursday.
The Nasdaq dropped 0.9%, up from a 2.1% deficit. The Dow lost 0.7%, the S&P 500 0.4% and the S&P 500 0.3%. NYSE volume fell sharply. Nasdaq trade surged as Cisco traded more than 400 million more shares than it did Wednesday.
Worries that China might raise its interest rates pressured stocks Friday. Equities also erased the bulk of last week's work.
The Nasdaq dropped 1.5%, the NYSE composite lost 1.3%, the S&P 500 shed 1.2% and the Dow fell 0.8%. Volume rose on the NYSE, giving the Dow, NYSE composite and S&P 500 a distribution day. The Nasdaq avoided a distribution day as volume fell.
For the week, the Nasdaq fell 2.4% and NYSE composite 2.3%. The Dow and S&P 500 fell 2.2% each.
weeklyobservations11132010
(reverse chrono)
-
-F
Worries that China might raise its interest rates pressured stocks Friday. Equities also erased the bulk of last week's work.
The Nasdaq dropped 1.5%, the NYSE composite lost 1.3%, the S&P 500 shed 1.2% and the Dow fell 0.8%. Volume rose on the NYSE, giving the Dow, NYSE composite and S&P 500 a distribution day. The Nasdaq avoided a distribution day as volume fell.
For the week, the Nasdaq fell 2.4% and NYSE composite 2.3%. The Dow and S&P 500 fell 2.2% each.
On Friday, the Nasdaq finished below its April 23 high.
Market now "under pressure".
Big-cap leaders took hit.
-Th
Stocks end lower, but well off deep lows.
Leaders modestly hit.
NYSE trade lower as Nasdaq distributed.
-W
Stocks gain modestly after recouping large losses.
Volume ended mixed as some leaders rose.
Cisco report plunges futures after hours.
-Tu
Volume spikes as market engages in distribution.
Dollar gains steam.
Distribution occurs in above-average volume.
-M
Market vacillates in the early going - thus far holding key levels - in much lower trade.
Leadership scant.