STTG Market Recap November 11, 2014 – Stock Trading To Go

Tuesday was a quiet calm session as indexes hung out around flat almost the entire session as we continue to see digestion of the large gains seen over the past few weeks.  With the overbought conditions in place it is difficult to see a straight up move from here without a little more time.  The S&P 500 gained 0.07% and the NASDAQ 0.19%.   Data remained light for a second day this week.

Of the 449 companies in the S&P 500 that have reported third-quarter results, 74.6 percent have posted earnings above estimates, while 59.3 percent beat revenue expectations.

The NASDAQ poked its head slightly over this recent consolidation area in yellow.

The NYSE McClellan Oscillator did finally pullback sub 50 here for a day – one more day of pullback to the 20s would be nice and set us up for another leg up.

D.R. Horton (DHI) rose after the the largest U.S. homebuilder by revenue said orders in the last quarter jumped 38 percent.

Groupon (GRPN) climbed after the online provider of daily deals provided revenue guidance for 2015 above estimates.

Alibaba (BABA) slid after closing yesterday at a record. The company said it had about $9.3 billion in sales during the Chinese company’s annual Singles’ Day promotion.

Tesla Motors (TSLA) is an interesting one – today it cleared a downtrend line it has been stuck under.  If this holds it could mark a reversal.

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STTG Market Recap November 11, 2014 – Stock Trading To Go