The stock market closed a pretty nervous week with a late bounce. Major indices archived another negative week despite a 9% drop in the Oil prices. An oversold bounce is in the air and I wouldn´t be surprised higher prices today following the Friday´s strong close.
Here an interesting chart:
Nps Pharmaceuticals Inc.(NPSP)

has been on fire since last July. The stock printed new intermediate high two bars ago and paused on Friday. Keep an eye on this one because it could resume its uptrend soon.
Chart Courtesy Of TeleChart

Here a quick review of the last week´s picks. Have a great Sunday!


Chart Courtesy Of TeleChart

Major indices closed mixed the week here the details:
Nasdaq -4,7%
Dow Jones -2,8%
S&P 500 -3,2%
Russell 2000 -2,8%

UP
The Spectranetics Cor(SPNC)
SanDisk Corporation(SNDK)
Hoku Scientific Inc(HOKU)
Jos A Bank Clothiers Inc(JOSB)
UST Inc(UST)
DOWN
(HBC)
QUALCOMM Incorporated(QCOM)
Cisco Systems, Inc(CSCO)
Skyworks Solutions Inc(SWKS)
Sycamore Networks Inc(SCMR)

The stock market drop like a rock yesterday in a channeled selloff. Major indices broke down on increasing volume in a very bad distribution day. Financial and materials was the worst sectors, but the selling pressure was pretty wide. The situation is getting bad on the technical side, where major indices are really under pressure. A few days of pause or a weak bounce could give the bears another good chance to reload the gun and another leg down seems to be the next logical step here.

Here an interesting chart:
No Picks Today.
Chart Courtesy Of TeleChart

Major indices closed in mixed fashion after another disappointing day. The market had a very similary behavior to the Tuesday´s session, where after a good start the stocks turned around closing poorly. The same-store sales released today could bring some nice daytrades, but fast fingers are still recommended.

Here an interesting chart:
Alpharma, Inc.(ALO)

gapped up to a eight-year high two weeks ago. The stock is pausing at the top since then and could resume its uptrend soon.
Chart Courtesy Of TeleChart

The market started well the session, but was unable to hold early gains. Sellers stepped in after mid-day and major indices dropped closing near the worst level of the day. The drop in oil prices didn´t helped much yesterday. This environment is still pretty chaotic and the Nasdaq100 drop to a fresh 4-months low is not exactly encouraging. It is still hard to find nice setups here, this is usually the time to step back a bit and wait better times.
Here an interesting chart:
No Picks Today
Chart Courtesy Of TeleChart

Here a quick view of the Macro data this week:

MON:None.
TUE:ISM Index.
WED:Beige Book, Factory Orders.
THU:Jobless Claims, ISM Services.
FRI:Nonfarm payrolls, Unemployment Rate.

The chart below shows the major sectors performances in the last ten trading days compared to the S&P500.


Chart courtesy of Stockchart.com