Stock market struggles to hold January gains

The S&P 500 ($SPX) finished the session with a loss of 2.10 points, or 0.16%, and closed at 1,316.33. The top individual percentage performers in the index on Friday were First Solar (FSLR) (+11.24%), Newell Rubbermaid (NWL) (+7.97%), and Eastman Chemical (EMN) (+6.98%). The top decliners were Robert Half Intl. (RHI) (-6.75%), Federated Invs. Inc. (FII) (-5.93%), and Devry (DV) (-5.37%). The S&P 500 ended the week higher by 0.07% and is up 4.67% year-to-date.

The Nasdaq Composite ($COMPX) ended the session higher by 11.27 points, or 0.4%, on Friday and it closed at 2,816.55. It ended the week higher by 1.07% and is higher by 8.11% year-to-date. The strongest performers in the Nasdaq-100 ($NDX) on Friday were First Solar (FSLR) (+11.24%), Netflix (NFLX) (+6.71%), and Green Mountain Coffee Roasters (GMCR) (+6.40%). The weakest were Sirius XM Radio (SIRI) (-1.92%), Express Scripts (ESRX) (-1.76%), and Micron Tech. (MU) (-1.59%).

Nasdaq Composite (Figure 3)

Unless otherwise stated, the index action described in this article relates to the E-mini futures contracts for the respective indices. Actual index action may differ slightly in terms of pattern formation, although the market bias will remain the same.

Toni Hansen is president and co-founder of the Bastiat Group Inc., DBA Trading From Main Street. Toni is one of the most respected technical analysts and traders in the industry. She has been trading and educating new traders, money managers, professional market analysts and traders throughout the boom and bust of the last decade. She has worked in conjunction with some of the world's top financial exchanges. Learn more about Toni Hansen and the educational services she provides through her website at http://www.tonihansen.com.

About the Author
Toni Hansen

Toni Hansen is president and co-founder of the Bastiat Group, Inc., DBA Trading From Main Street. Toni is one of the most respected technical analysts and traders in the industry. She has been trading and educating new traders, money managers, professional market analysts and traders throughout the boom and bust of the last decade. She has worked in conjunction with some of the world's top financial exchanges. Learn more about Toni Hansen and the educational services she provides through her website at http://www.tonihansen.com.

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