NASDAQ Technical Picture - Bulls Fight Back

Technically, we have a potential hammer reversal, however, there is a black cloud over the market with respect to the Finance sector. First MER and now Citi's Prince is out. Financials weighing on Asian markets as well as U.S, futures.

Broad market volatility moved higher this week with the VIX up 24% from last Friday's close, now at 24.25. This move in volatility took place with a sell-off in the S&P 500 taking the index down ~2% on the week. While broad market volatility moved higher this week, tech-focused volatility is little changed from last Friday's close with the VXN (Nasdaq Volatility Index) up just 3% on the week at 25.75. This comes with the Nasdaq Composite roughly unchanged on the week, as much of this week's broader market weakness was centered around financial names.

Stocks over $5 posting the largest percentage loss over the last five sessions include: ABK -47.7%, LCAV -44.3%, SWHC -41.5%, SCA -39.7%, AGO -36.4%, RAMR -35.8%, PMI -32.9%, SMSI -32.9%, MBI -32.5%, GNCMA -32.2%, CROX -30.9%, MI -30.9%, VLCM -29.7%, CLUB -29.6%, FARO -28.5%, PCBC -28.4%, VNDA -28.3%, CSK -28.1%, NSIT -27.6%, CPSL -27.2%, FBC -26.8%, CSR -26.2%, GLUU -25.4%, ASGN -25.4%, CKSW -25.1%, LFG -24.7%, ITRI -24.6%, TWPG -24.5%, PTI -24.5%, YSI -23.7%, MRT -23.2%, FTK -22.7%, RGR -22.3%, AMMD -22%, ADPI -22%, BLDR -21.7%, BWLD -21.7%, OPNT -21.4%, PLX -21.2%, PRXI -21.2%, LNET -21.1%, HWCC -21.1%, EVC -20.7%, WNC -20.7%, HMN -20.7%, TGIC -20.6%, VRX -20.5%, ONNN -20.4%, ARP -19.9%, FDP -19.9%, ERES -19.8%, BKUNA -19.5%, SSYS -19.5%, BZH -19.4%, MNC -19.3%, IMB -19.3%, OPXT -19.3%.

Stocks over $5 posting the largest percentage gain over the last five sessions include: PRO 29.8%, CSIQ 29.6%, FCGI 29.6%, PSEM 29.4%, SPRD 28.5%, EZEM 27%, UTHR 26.7%, SOHU 25.6%, BDY 25.4%, PRGO 25.4%, RSYS 25.3%, SIRF 23.3%, BQI 23%, PPO 22.7%, EHTH 22.4%, ATHR 21.3%, ASTIZ 20.3%, QRCP 20%, CBI 19.9%, SXE 19.3%, MA 19.2% SYNA 18.7%, WATG 18.4%, SSRX 17.7%, LUNA 17.5%, EGT 17.5%, RICK 17.4%, CFSG 17.2%, CRXX 17.2%, BGFV 16.8%, OTEX 16.8%, HOS 15.8%, CRME 15.6%, CTCM 15.6%, WDC 15.3%, HEM 15.3%, AG 15.3%, IMA 15.3%, MSTR 15.3%, AUTH 15.2%, PLXS 15.1%, AMED 15.1%, ESLR 15%, XPRT 15%, MANT 15%, FLS 14.9%, NTES 14.8%, VGZ 14.7%, SKF 14.4%, FRG 14.4%, EQIX 14.3%, CAVM 13.6%, GLT 13.6%, CVLT 13.6%, GLBL 13.6%, IDSY 13.5%, BIDU 1.4%, HMSY 13.5%, TWLL 13.2%.

Of the hundreds of companies reporting earnings the week of Nov 5th-9th some of the bigger names include: Monday: BKC, CAPA, MVL, MFLX, NXG, OMRI, TTI, TLCV, ASEI, APC, AUDC, CECO, CDR, DIVX, LOCM, and WMS... Tuesday: ABY, ADM, CTSH, EXPD, FTEK, LEA, TAP, NT, VLO, BEXP, INAP, and OVEN... Wednesday: DTV, FLR, FWLT, FTO, GM, MGAM, PLA, WNR, GRRF, CSCO, CTRP, FSLR, IO, JCOM, KNXA, NTES, and WBMD... Thursday: AIRM, CVC, CRZO, XTXI, FLO, F, RMIX, URBN, VG, CELL, CEPH, COGO, JDSA, MIPS, NVDA, QCOM, PCLN, and DIS... Friday: BRKS, CLWR, DRS, GG, JASO, IART, and SIN.