NASDAQ Technical Picture - Cautiously Bullish

The SOX provided tech leadership on Friday, as it finally spiked out of a multi-week base. It closed on its highs and looks bullish heading into next week. Volume on the NASDAQ was bullish, in fact, it felt like institutional money was at work on the first day of the month. The McClellan oscillator is into overbought territory, so this rally may pause shortly.

Earnings Preview for the week of Feb 4th-8th: Of the hundreds of companies reporting earnings the week of Feb 4th-8th some of the bigger names include: Monday: ADM, BEAV, HUM, BMI, ILMN, LVS, RMBS, SIRF, and TMA... Tuesday: AVP, BSX, CME, MYGN, NYX, SEPR, THOR, TYC, WHR, RATE, BBBB, BRE, FORM, INSP, IVGN, JDSU, MFLX, TZOO, SGMO, DIS, and XL... Wednesday: BIIB, RAIL, LFUS, TIN, TWX, TEL, WMG, AKAM, CSCO, FISV, HUBG, PRU, RACK, TLEO, and WMS... Thursday: APA, AN, BG, DO, DHI, FLIR, ITWO, LVLT, MDTH, MEND, PENN, ATVI, BLKB, CELL, CTSH, and MFE ... Friday: AIXD, ALU, BECN, BEC, CLWR, CVH, LPNT, RTK, SKYW, and SYNT.

Stocks over $5 posting the largest percentage loss over the last five sessions include: MMA -59.0%, HTCH -34.5%, ARAY -33.2%, XPRT -32.3%, OMCL -30.0%, MELI -29.7%, VMW 25.3%, CDNS -28.1%, HSTX -27.2%, BPHX -26.7%, BFRM -23.7%, OMRI -22.5%, GHM -21.5%, ADS -19.5%, ICUI -19.4%, DRIV -19.4%, KEYN -19.2%, DCP -18.6%, LIMC -18.3%, AVID -17.7%, AWBC -17.0%, CYMI -16.8%, AMRI -16.0%, CEVA -15.8%, IAG -15.4%, CISG -15.3%, SXE -14.8%, SYX -14.8%, SKF -15.0%, ZRAN -14.9%, GSOL -14.3%, NPD -14.3%, JASO -14.2%, BLOG -13.6%, RCRC -13.4%, ALGN -13.2%, AATI -13.0%, GLAD -12.9%, NHWK -12.8%, ULBI -12.1%, CAVM -12.5%, HWAY -12.6%, YGE -12.3%.

Stocks over $5 posting the largest percentage gain over the last five sessions include: CAO 65.7%, IMB 63.3%, HOV 63.2%, MTH 56.2%, QI 52.7%, IFC 52.6%, PPCO 52.5%, OHB 49.7%, CWTR 47.2%, JBLU 45.5%, QRR 43.5%, QMAR 43.3%, INFN 41.3%, IBCP 39.9%, LL 39.5%, APWRW 39.1%, TBSI 39.2%, WCI 37.5%, BKUNA 37.2%, BBX 36.8%, CCRT 36.4%, TUP 36.1%, KWK 36.0%, PRXI 35.9%, STAR 35.9%, IMP 34.7%, PFB 34.5%, ADVNA 33.7%, LXK 33.6%, CENT 33.4%, CALC 32.8%, STC 32.8%, GCA 32.2%, LFG 32.1%, WM 32.1%, CENTA 32.0%, ADBL 31.2%, BLG 30.8%, TGIC 30.8%, CHRS 31.0%, EMKR 30.5%, WSBC 30.4%, XIN 30.4%.