01/07/2013 – Dow Jones and S&P 500 distribute. NASDAQ stays put.

Market review – Mon, 7th Jan’ 13: The major indexes Dow Jones, S&P 500 and NASDAQ receded at the open, and posted noticeable losses. They immediately went on the recovery mode and moved upwards. But, the bears pushed them down, and they made a new low by noon. The indexes staged another recovery operation in the afternoon. As the bulls showed some strength, the indexes managed to cut some losses. The NASDAQ ended flat and limited the losses to -0.09%. But, Dow Jones and S&P 500 still posted little over -0.3% losses for the day.

Volume: The trading volume slightly picked up the pace in both NYSE and NASDAQ stock exchanges, and came in heavier than Fridays level. The slight NYSE volume increase, coupled with over -0.2% losses resulted in a distribution day for the Dow Jones and S&P 500. The NASDAQ skipped a distribution day, as it limited the losses to less than -0.2%.

Growth stocks: Leading growth stocks from our watch list had a decent day, today. Though the heavy volume decliners had a slight edge, still a good number of stocks made it to the gainers list. The decliner also maintained the slight edge in our Top 250 – Growth Stock Daily Heat Map, as well.

Recap: Dow Jones and S&P 500 logged a distribution day, today. But, their charts look still healthy, and are trading above the key support price levels. NASDAQ displayed the much-needed resilience. So, the indexes withstood the today’s sell-off overall, and the rally remains healthy.

So, just watch out for the leading growth stocks. Their pullback may offer favorable long entry points, as long the indexes stay put above the support price levels.

Leading Growth Stocks up in higher volume:-

Ticker	Name	Price	Price Change	Price % Change	Volume % Change
NSM	Nationstar Mortgage Holdings Inc. (NSM)	45.32	+0.83	1.87%	23.78%
RNF – Ticker not present in the current file.

Leading Growth Stocks down in higher volume:-

Ticker	Name	Price	Price Change	Price % Change	Volume % Change
TLLP – Ticker not present in the current file.
HFC – Ticker not present in the current file.

Dow Jones – Today’s Closing value : 13,384.29 -50.92 (-0.38%) Intraday High: 13,436.13 Intraday Low: 13,343.32.

S&P 500 – Today’s Closing value :1,461.89 -4.58 (-0.31%) Intraday High: 1,466.47 Intraday Low:1,456.62.

NASDAQ -Today’s Closing value :3,098.81 -2.85 (-0.09%) Intraday High: 3,102.35 Intraday Low: 3,083.88.

Data source: Yahoo Finance