TradingMarkets mid-day movers

Lack of catalysts brings choppy trading. Crude oil futures fall by 1.4% to $60.30.

Thursday's market action created 3 consecutive closes in the same direction and 3 consecutive intraday higher highs on both the SPX and NDX (explanations below).  These are both  bearish signals and mark a coming pullback. It will be interesting to see if we get more bearish signals this week (click here for more info).

Stocks on the Move

NVIDIA (NVDA | Quote | Chart | News | PowerRating) Q3 EPS, Revenue Beat Consensus (full story).  NVDA shares drop over 4%.

Energy Conversion (ENER | Quote | Chart | News | PowerRating) Q1 Loss Narrows On Higher Revenues (full story).  ENER shares rises by 4.5%.

Expedia (EXPE | Quote | Chart | News | PowerRating) Q3 Profit Falls On Charge (full story).  EXPE shares fall by nearly 3%.

AIG (AIG | Quote | Chart | News | PowerRating) Q3 Profit More Than Doubles, Tops Consensus (full story).  AIG shares rise by 2.5%

Disney (DIS | Quote | Chart | News | PowerRating) Q4 Profit More Than Doubles (full story).  DIS shares fall by 3%.

Kohl's (KSS | Quote | Chart | News | PowerRating) Q3 Profit Surges 45%, Revenues Up, Reaffirms Q4 EPS Target, Lifts FY06 EPS Outlook (full story).  KSS shares are trading fractionally higher.

For more stories as they happen, go to our Breaking News section.

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3 Consecutive Closes Same Direction- Three consecutive higher closes many times leads to a short-term quiet market over the next few days when the market is above its 200 day ma. When it's below, 3 consecutive higher closes has been an excellent time to enter short positions.

The opposite is true for 3 consecutive lower closes. When its occurred above the 200 day ma, it's been a good time to be a buyer. Below the 200 day, its been a good place to lock in short profits.

3 Higher Highs In A Row and 3 Lower Lows In A Row- The same tactics applied to 3 consecutive closes in the same direction apply here. 3 higher highs identifies a market that is overbought, especially when its below its 200 day ma. 3 consecutive lower lows is an excellent time to be looking for long positions when the market is above its 200 and to be locking in short positions when its below its 200 day.