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Stock Market Daily Recap Dec 7, 2012

December 7th, 2012

EFT's and Indicies

The SPX is still hovering and pushing at that 1420 mark. Volume has been fairly stable, but pushing to the upside. Let's see what next week brings.

The Russelll 2000 (IWM) - reminds me of the SPX. Its also pushing against some resistance lines.

Keep an eye on the indicies as we are at critical points.

Individual Stocks

Bank of America (BAC) - has been doing well the last couple of days. Moving past the $10 range and closing at $10.64. For this huge volume mover, its slow, but the volume is there. Looks like things are getting better slightly for this financial giant.

Starbucks (SBUX) - similar to BAC's move just 1 day later, is also moving up above the $52.31 level on heavy volume. Looking for this one to move up more next week if things hold up.

Apple (AAPL) - This giant has just been volatile the last few weeks. One of the great stocks has been moving down ever since Steve Jobs passed away not long ago. The stock has been over played and now forming the death cross of the 50 day dipping below the 200 day. Major support still at that 520 level, but it looks like it may go lower in my opinion.

First Solar (FSLR) - Continues to move higher this week as this once a monster stock was able to restablize. Volume is increasing slightly and the stock is heading higher.

Keeping an Eye On

LinkedIn (LNKD) - A nice solid resistance line around $110. If this stock breaks it - it could see higher prices.

Caterpillar (CAT) - Finally breaking this descending trend line on slightly better than average volume.

Nike (NKE) - making a move up quietly. It's a slow mover.

Salesforce.com (CRM) - a good solid resistance line at $160, but its on my watch list.

Mastercard (MA) - a classic jumped the creek move, and now testing the ice. Will it hold at $475?

Fossil (FOSL) - stuck in this consolidating area. Just keeping an eye on it. Nothing to get excited about yet.

SBA Communications (SBAC) - one of the cleanest charts I have seen i a long time. Wow thats a smooth trendline.

Author: Sasha Evdakov

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