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Major indices close fractionally higher. Crude oil futures fall by $1.57 to $59.59.
Thursday's market action created 3 consecutive closes in the same direction and 3 consecutive intraday higher highs on both the SPX and NDX (explanations below). These are both bearish signals and mark a coming pullback. It will be interesting to see if we get more bearish signals this week (click here for more info).
Boeing Co. (BA | Quote | Chart | News | PowerRating) Is Climbing After Winning A Helicopter Contract (full story). BA shares rise by 0.6%.
California Pizza Kitchen (CPKI | Quote | Chart | News | PowerRating) Lowered Its Q4 Earnings Outlook (full story). CPKI shares fall by 1.2%.
Hecla Mining (HL | Quote | Chart | News | PowerRating) Swings To Profit In Q3 (full story). HL shares fall by over 6%.
Fuel Systems Solutions (FSYS | Quote | Chart | News | PowerRating) Reported A Q3 Profit (full story). FSYS shares soar by over 24%.
Pacific Sunwear Of California (PSUN | Quote | Chart | News | PowerRating) Is Heading Higher On Q3 News (full story). PSUN shares jump nearly 8%.
AIG (AIG | Quote | Chart | News | PowerRating) Q3 Profit More Than Doubles, Tops Consensus (full story). AIG shares rise by 2%
Disney (DIS | Quote | Chart | News | PowerRating) Q4 Profit More Than Doubles (full story). DIS shares fall by 3.5%.
For more stories as they happen, go to our Breaking News section.
|
Dow |
+5.13 |
12,108.43 |
|
NASDAQ |
+13.71 |
2,389.72 |
|
S&P 500 |
+2.57 | 1,380.90 |
|
NYSE |
NASDAQ | |
|
Volume |
2,288,975,000 |
1,653,745,000 |
|
Advances |
2077 |
1793 |
|
Declines |
1167 |
1218 |
|
Up Volume |
1104 |
820 |
|
Down Volume |
962 |
673 |
|
New Hi's |
201 |
104 |
|
New Lo's |
19 |
51 |
|
Strongest Sectors |
Weakest Sectors |
|
Nasdaq Transportation Index (TRANX) |
Amex Gold Bugs Index Index (HUI) |
| Amex Airline Index (XAL) | PHLX Gold and Silver Sector Index (XAU) |
| Amex Securities Broker/Dealer Index (XBD) | PHLX Oil Services Sector Index (OSX) |
No economic reports released today.
Darren Wong
darrenw@tradingmarkets.com
Use our most popular trading tool to find out how your stocks will move in the next 5 days.
3 Consecutive Closes Same Direction- Three consecutive higher closes many times leads to a short-term quiet market over the next few days when the market is above its 200 day ma. When it's below, 3 consecutive higher closes has been an excellent time to enter short positions.
The opposite is true for 3 consecutive lower closes. When its occurred above the 200 day ma, it's been a good time to be a buyer. Below the 200 day, its been a good place to lock in short profits.
3 Higher Highs In A Row and 3 Lower Lows In A Row- The same tactics applied to 3 consecutive closes in the same direction apply here. 3 higher highs identifies a market that is overbought, especially when its below its 200 day ma. 3 consecutive lower lows is an excellent time to be looking for long positions when the market is above its 200 and to be locking in short positions when its below its 200 day.
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