Thursday Recap

Markets gyrated Thursday after a nice open, a selloff following a negative Philly Fed, then rallying late in the session. The Nasdaq performed the poorest, as it now rests firmly below its 200 day MA. That index is now negative on the year. A tug of war seems to be developing with the S&P 500 and its 200 day. Today it found support on that line and finished in the black. Sectors that took a beating today included ags, semis (SMH lost its 200 day MA), and chemicals. The days outperformers included the defensive groups of food and utilities. When they rear their ugly heads it rarely is a good thing. Volume was soft. More former leaders are falling by the wayside. Today ACN EMC joined the list. Some stocks that showed solid strength Thursday were CROX COG. They both hit 52 week highs. RIMM fell 14% after hours on a dismal earnings outlook. Markets are on pace for a seventh consecutive decline. Tomorrow no earnings reports to talk about and consumer sentiment and leading indicators are reported just after the bell rings.

Stocks near 50 day support are AET 41.75, BAX 57.75, HUM 76.15, UNH 48.10, WPI 62, YUM 53.50, SAPE 13.50, BEAV 37.05. Stocks that found support at their 50 day MAs today were VFC NFLX HS M MCK WCN FTNT TMO KEG MCO PLCM DISH VECO. Stocks that can be bought as they reclaim their 50 day MAs and their buy stop spots are AGN 80.40, FAST 32.80, QLIK 30.60, DFS 24.25, OXY 103.75, UTX 86.30, VCLK 17.10, ACOM 37.60.

Stocks near 200 day support are DECK 76.50, APD 88.35, EMN 89.50, LYB 34.40, ROC 42.40, CAR 15, SYK 56.50, AN 29.60, JWN 42.80, PIR 10, PAG 17.50, KO 64, ABB 23.05, DOV 60, BGC 36.50, SAP 56, TIBX 23, CHRW 75, CSX 22.95, KSU 49.75, ARW 36.40, CHK 27.70, CRZO 32, COP 69, XOM 76.25, HLX 14, NBR 24.40, RES 19.50, SE 25.50, SPN 34, WMB 26.30, CCK 35, HON 53.95, MMM 89.50, APKT 59, CMCSA 22.55, QCOM 51.55, CY 18.40, SMTC 23.65, RAX 34. Stocks that found 200 day support today were HBI FMC PPG WYN VPHM CAT PH ROK PKI KKR APA CLR EOG RDC RDSA FCS MCHP CLF TRW MON. Stocks that can be shorted at 200 day resistance are SOA 22.25, IR 44.70, WM 36.90, VRSN 33.70, AMP 57.60, IVZ 23.95, TS 45.55, DVN 79.50, FTI 42.25, NE 38.70, NBL 86, PXD 87, SU 39, SUN 40.65, DD 50.55, IP 27.25, OMC 46, RVBD 34, OPEN 81, RIO 68, DNR 20. Stocks that met 200 day resistance today were PVH WCRX TTMI TKR UPL AAPL ADI BHP. Stocks that can be shorted as they lose their 200 day MAs and their sell stop spots are WYN 30.25, ANN 25.10, CBE 58.50, JBL 18.30, GSM 18.80, ATW 38.45, SLB 80.50, VLO 23.65, MCP 46.25, BWA 67. Stocks that lost their 200 days today were DOW DKS ORCL TEL PAY ATI APC MXIM POT.

Stocks that can be shorted at 50 day resistance are NKE 82, ALB 66.10, LULU 94, COST 80, CBS 26, ITW 56.05, ARBA 32, BMC 52.10, CHKP 54, INFA 54.25, ADS 89.85, AXP 48.90, MTL 27, BHI 72, DRC 50.25, HAL 48, PTEN 29.50, TPX 61.25, TUP 62.50, BLL 37.95, XLNX 33.95, SWC 20. Stocks that met 50 day resistance today were UA CE ROVI UNP MRO EL VCLK NTAP MSI AVGO. Stocks that can be shorted as they lose their 50 day MAs and their sell stop spots are NFLX 246, ERTS 21.80, N 33.50, TDC 53.50. Stocks that lost their 50 day MAs today were ABV CRM NSC WSH.

Good luck.

The author is still 100% in cash.