Week in Review
DJIA +53.68 (+0.39%) to 13,649.70; S&P 500 +5.04 (+0.34%) to 1,485.98; NASDAQ -1.29 (-0.04%) to 3,134.71 Week economic data couldn’t put a damper on the S&P 500 which added onto Thursday’s decent gains. The Nasdaq wasn’t able to join in on the party but had Apple Computers (AAPL), Intel (INTC) and Facebook (FB) as well as other weighing it down. We did have good economic data announced but not in the U.S., China reported GDP growth f 7.9% in Q4 which helped take the full year growth to 7.8% which outpaced consensus analyst expectations (7.7%) and the government’s expectations (7.5%)….
Week in Review
DJIA +3.76 (+0.03%); to 13,025.58 S&P 500 +0.23 (+0.02%); to 1,416.18 NASDAQ -1.79 (-0.06%) to 3,010.24; Friday’s action was another consolidation day just below the 50 Day SMA. The entire range for the day was 8 S&P points and while the index closed higher, we spent the majority of the day down. Stocks of the Day today included Advanced Micro Devices, Inc. (AMD). Finally bouncing off very depressed levels, this has been a name we have featured as a Trade Idea. There was news that the company plans to sell its Austin, TX campus but this rally seems more like en and of…
Analyst Comments
If you see a symbol that interests you in this list then make sure to check out the Upgrades/Downgrades section for the complete list and details! Upgrades: BCS, EDRVF, KCG, EXC, FB, YHOO, MOS, ETN, CPL, ANAD, LMT, BRCM, KKPNY, DSW, UBSH, JRCC Downgrades: AKZOY, BLL, CCK, CHS, ARO, MCD, WAIR, HNZ
Daily Wrap
DJIA +207.65 (+1.65%) 12,795.96; S&P 500 +27.01 (+1.99%) 1,386.89; NASDAQ +62.94 (+2.21%) 2,916.07 Today was a classic “Gap and Go” day where the markets started higher and continued higher for the remainder. The S&P 500 is just getting into the range we were looking for on a bounce. While upside should now be tempered, this is also a holiday trading week and in low volume weeks the market can have a tendency to drift higher. I still would expect the 20 day MA to be resistance and a potential shorting opportunity for quick traders. The stocks making moves today, ummm,…
Daily Wrap
Today was an ugly day for the markets. We had highlighted, for the Bulls, a potential inverse H&S setting up on the 60 minute SPY chart but noted that the lows from 11/13/12 HAD to hold or the market could be looking at a bad situation. The SPY made the highs for the day in the first 5 minutes of trading and then faced selling for the remainder. The first leg down completed around 11am EST and then we meandered until later until around 2:15 pm EST when we broke hard for the rest of the day. The President spoke…