12/28/2012 – Dow Jones, S&P 500 and NASDAQ sell-off. Rally goes “Under pressure”.

Stock market review – Fri, 28 Dec’ 12: The major indexes Dow Jones, S&P 500 and NASDAQ gaped down at the open, and posted modest losses. The bulls tried a sharp rally attempt, within an hour or so into the trading session to limit the losses. But, the bears not only shot down that attempt, but also increased the selling pressure. They also set up a severe reaction, at the final hours of the trading, and pushed the indexes further down. The indexes saw a bearish close, as they ended the day at their intra-day lows. Dow Jones and S&P 500 posted over -1% losses, while NASDAQ limited the losses to less than -1%.

Volume: Trading volume was running lower in both NYSE and NASDAQ stock exchanges, and came in lower than yesterday’s level. However, it picked up pace during the late sell-off. The indexes didn’t log a distribution day on paper, due to the low volume turn over. But, it was a psychological distribution day, though.

Growth stocks: Leading growth stocks from watch list mostly had a quiet day, as the trading volume receded. However, decent number of stocks made it to the heavy volume decliners list, by the end of the trading session. In Our “Top 250 – Growth Stock Daily Heat Map” that ignores the trading volume, the decliners clearly dominated the day.

Recap: The indexes had an opposite reaction when compared to yesterday. Dow Jones and NASDAQ closed below the 50 and 200 day moving average price levels. Dow Jones lost the 13,000 benchmark price level. The S&P 500 is showing some resilience, though. It’s still above 1,400. It lost the 50 day moving average price level, but still above the 200 day moving average price level.

So, we are changing the market outlook to “Rally under pressure“. Let’s see, whether the bulls have the firepower to rescue it, in coming days or not.

Leading Growth Stocks up in higher volume:-

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

Leading Growth Stocks down in higher volume:-

Ticker	Name	Price	Price Change	Price % Change	Volume % Change
ABCO – Ticker not present in the current file.
AG – Ticker not present in the current file.

Dow Jones (DJIA) – Today’s Closing value : 12,938.11 -158.20 (-1.21%) Intraday High: 13,095.46 Intraday Low: 12,926.86.

S&P 500 (SPX) – Today’s Closing value :1,402.43 -15.67 (-1.10%) Intraday High: 1,418.10 Intraday Low:1,401.58.

NASDAQ (COMP)-Today’s Closing value :2,960.31 -25.60 (-0.86%) Intraday High: 2,985.47 Intraday Low: 2,959.37.