Tuesday, September 28, 2010

MARKET UPDATE 09/28/2010

Here is the latest trading and free market analysis info on the markets and more...


SPY is looking Toppy here at this Resistance level of 115, so be ready for anything.


The QQQQ is also looking like it wants to pull back here.


AAPL has a hanging man candle here and looks like its setting up for a correction.



















September 28, 2010
16:30 ET Dow +46.10 at 10858.14, Nasdaq +9.82 at 2379.59, S&P +5.54 at 1147.70
[BRIEFING.COM] Despite an early slide, stocks were able to settle with solid, broad gains Tuesday.

The major averages opened with narrow gains after a member of the Bank of England made the case for further monetary stimulus. The comments, along with speculation that European central banks will purchase troubled debt, helped relieve worries about sovereign debt.

However, sellers were quick to step into the action. Their efforts intensified with the September Consumer Confidence Index, which made a surprise drop to a seven-month low of 48.5.

The stock market attracted support as it came within close contact of its summer trading range top. Technical support provided a floor from which stocks could rebound, but a lack of actual leadership left stocks to spend most of the afternoon hugging the neutral line until a late spurt of buying helped stocks finish near their session highs.

Thanks to better-than-expected earnings, Walgreen (WAG 33.81, +3.46) was the best performer of the day. Its spike made for its best single-session performance in more than a year.

In contrast, Monsanto (MON 48.75, -4.32) was the worst performer of the day. Its dive came amid cautious comments about the company's seeds products and some negative numbers from an Australian agricultural chemical company. The stock weighed on the broader materials sector, which had lagged for most of the session and only mustered a fractional gain in the moments ahead of the close.

Though the broader market's overall gain was a bit restricted, advancing issues outnumbered decliners by 4-to-1. More upbeat were small-cap stocks, which helped the Russell 2000 advance 1.1%.

Treasuries had a strong session as the 30-year Bond climbed a full point, the 10-year Note tacked on 16 ticks, and the 5-year Note gained about eight ticks. Results from the latest 5-year Note auction drew a bid-to-cover ratio of 2.96, dollar demand of $103.6 billion, and an indirect bidder participation rate of 50.1%. Though the latest auction saw slightly better demand than the sale did in August, dollar demand still was not that strong since it was the third lowest of the last twelve auctions.

The dollar dropped to a new seven-month low as the euro rallied 1.0% against the greenback. From its session low to its session high the euro swung 1.6% to end the day near $1.36.

Advancing Sectors: Health Care (+0.9%), Consumer Staples (+0.8%), Consumer Discretionary (+0.8%), Energy (+0.8%), Industrials (+0.5%), Financials (+0.3%), Utilities (+0.2%), Tech (+0.1%), Telecom (+0.1%)
Declining Sectors: (None)
Unchanged: Materials

Nasdaq +9.82 at 2379.59... S&P Midcap 400 +0.8... NYSE Adv/Dec 2114/870... Nasdaq Adv/Dec 1760/853.


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Reuters News:







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Friday, September 17, 2010

Market update 09/17/2010

Here is the latest trading and free market analysis info on the markets and more...


Ok - We got the bounce up to the top of this channel on the SPY, QQQQ and most of the markets. We need to keep an eye on the markets at this level. We may be due for a correction soon, but if it breaks out to the upside we may see these markets test the highs of April 2010.






CNBC:















Market Report: September 17, 2010 -- 4:30 PM ET

Moving the Market
Consumer sentiment weakens in September, while consumer price data shows little surprise

Oracle and Research In Motion report better-than-expected earnings

Texas Instruments raises dividend and announces share repurchase plan that represents a quarter of its current market cap

Options expiration drives share volume sharply higher

Sector Watch
Strong
advertising; employment services; education services; electronic manufacturing; systems software; consumer electronics; internet software and services; paper products

Weak
health care facilities; fertilizer and agricultural chemicals; agricultural products; coal and consumable fuel; oil and gas refiners; construction materials; steel; home furnishing; diversified financial services

Market Events
16:30 ET Dow +13.02 at 10607.85, Nasdaq +12.36 at 2315.61, S&P +0.93 at 1125.59
[BRIEFING.COM] High-quality quarterly reports from a couple of large-cap tech names positioned stocks for a strong start to the week s final session, but some disappointing data led to lackluster action and an anticlimactic close in the face of quadruple witching options expiration.

Better-than-expected earnings and strong forecasts from both Oracle (ORCL 27.48, +2.12 and Research In Motion (RIMM 46.72, +0.23) helped tech stocks climb 0.5% to lock in a weekly gain of 4.4% and record their eighth straight advance. Texas Instruments (TXN 25.72, +0.74) helped the sector with an announcement that it will add 8% to its dividend and earmark for share repurchases $7.5 billion, which is almost equal to a quarter of the company s current market cap.

Strength among tech issues helped the Nasdaq remain in positive territory for virtually the entire session, even after it was undercut by the preliminary Consumer Sentiment Survey for September from the University of Michigan. The Survey slipped to 66.6 from 68.9 in August. On average, economists polled by Briefing.com had expected that the September reading would come in at 70.0.

Consumer price data was generally disregarded. The Consumer Price Index (CPI) for August increased 0.3% month-over-month, while core prices went unchanged month-over-month. The consensus among economists polled by Briefing.com had called for a 0.2% increase in overall consumer prices and a tepid 0.1% increase in core prices.

Weakness among financials and energy stocks offset the tech sector s strength in the broader market. Financials (-0.5%) were bogged down by losses among diversified financial services stocks, which dropped 1.5%. Energy stocks (-0.5%) were primarily hampered by refiners, which fell 1.5%, though coal producer Massey Energy (MEE 29.94, -2.42) was a particularly heavy drag on the sector after it issued a disappointing outlook.

Mixed interest in the broader market left the S&P 500 to spend most of Friday s session near the neutral line after it had made an early move through key resistance levels to a new four-month high. The benchmark Index still managed to finish the week with a cumulative gain of 1.4%, though.

Share volume was extraordinarily robust. With more than 1.8 billion shares exchanged on the NYSE, this session s total was more than double the average daily count for the past 10 sessions. The surge in share count stemmed from a quadruple witching options expiration.

Despite the surge in share volume, volatility was contained. In fact, the Volatility Index was never up more than 4% and it ended the day just 1.3% higher.

Advancing Sectors: Industrials (+0.9%), Telecom (+0.6%), Tech (+0.5%), Consumer Discretionary (+0.3%)
Declining Sectors: Energy (-0.5%), Financials (-0.5%), Consumer Staples (-0.1%), Utilities (-0.1%)
Unchanged: Health Care, Materials

Nasdaq +12.36 at 2315.61... S&P Midcap 400 +0.3... NYSE Adv/Dec 1774/1214... Nasdaq Adv/Dec 1546/1116.


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CNBC:




























Reuters News:







FYI – I have updated the “My Links” page (above on a3holdings.com) with a great collection of trading links, to help you make a more informed investment or trade.