Five of nine sectors moved higher and XLU was unchanged on Tuesday…XLY, XLI and XLV were the strongest sectors while XLE was the weakest.
Breadth weakened as advancers led decliners…1.15 to 1 on the NYSE and decliners led advancers 1.03 to 1 on the NASDAQ
Tuesday – weakened, mixed
Monday – mixed, advancers led
Friday – strengthened, advancers led
Thursday – strengthened, advancers led
Wednesday – weakened, decliners led
SPY down .15 at 207.11 on 78.9 million shares, below average volume
VIX down .37 at 12.25…
TNX down .50 at 22.60…
TLT up 1.00 at 121.20...
XLF down .02 at 24.35 on 23.4 million shares
AAPL down 1.02 at 118.60 on 68.7 million shares
FB up 1.62 at 75.63…on 32.2 million shares, below average volume
QQQ +0.15%, DIA + 0.09%, IWM +0.08%, SPY -0.07%.
While the DIA and QQQ inched to new highs, indexes on Tuesday were near on changed on light volume heading into the Thanksgiving Day weekend. Financials XLF and semiconductors SOX were both near unchanged adding to the narrow trading range on Tuesday.
The SPX which finished slightly lower was led by gains in PLL +3.50%, CMCSA +2.92%, URI +2.83%, TWC +2.82% and NEM +2.82%. PLL rose on a positive earnings reaction, CMCSA rose following positive analyst comments, URI gained on continued strong buying, TWC rose after news of HBO distribution agreement in China and NEM gain following Monday’s pull back after announcing $100 million prepayment of debt.
PANW +6.93, +6.12% gains on positive earnings reaction.
FB +1.62, +2.19% following a report that Facebook at Work could be launched in January and will compete directly against LNKD, MSFT’s OneDrive and GOOG’s Drive.
Trade with the trend of the chart you are trading and continue to move your profit protection stops. Continue to follow your rules.
Short-term Chart Targets:
SPY = 207.33, 209.06, 210.49...
QQQ = 103.37, 106.94…
IWM = 117.48, 118.25, 119.37, 121.27…
SPY = 205.71, 203.13, 201.90...
QQQ = 102.42, 101.38, 100.56…
IWM = 115.04, 114.37, 113.35...
Q3 Earnings Reactions
Positive Reactions – PANW, ADSK, JASO, ROST, SPLK, GOGO, RAX, NTES, XONE, YOKU, VJET, BABA, MNST, WFM, ABC, ACI, AMGN, BIDU, BWLD, CBOE, CLF, CLX, CNX, EA, ESRX, EQIX, EXPE, FISV, GLW, GPRO, GRPN, GT, HSY, JCI, JDSU, LNKD, LVLT, MA, MAR, MO, MTW, MYL, PCAR, FE, SCHN, STX, SWI, SWKS, TASR, V, WY, X, WHR, AAPL, ALK, ALXN, APOL, BMY, BRCM, CAT, CELG, CERN, CHKP, CMCSA, CNI, EMC, EW, GD, HAL, HAS, HOG, ILMN, IM, KLAC, KMB, LLY, LRCX, LXK, MMM, MXIM, MSFT, N, ORLY, PG, RMD, STLD, STT, SWK, TRV, TSCO, TXN, UNP, VRSN, WOOF, YHOO, YNDX, ZION, AMD, C, CSX, DAL, GE, HON, LVS, MS, SCHW, SLB, STI, URI, XLNX, COST, BBBY, BBRY, MU, NKE, PAYX, LULU, PANW, ULTA, MFRM, SPLK,
More than 10% - GOGO, RAX, WFM, GPRO, GPRN, LNKD, BWLD, SWI, N, EW, TSCO, NKE, ULTA, LULU, PANW, MFRM,
Negative Reactions – CRM, JD, MBLY, SINA, YY, SWKS, FEYE, FSLR, PCLN, QCOM, TRIP, SCTY, SSYS, SUNE, UBNT, Z, ZU, AEM, CHRW, COH, FB, GRMN, KRFT, MDC, MRK, NEM, PNRA, RGR, SLCA, TPX, TWTR, ALTR, AMZN, BA, BTU, CMG, CREE, DECK, DNKN, DOW, EAT, F, GM, IBM, JNPR, KO, LMT, LUV, NDAQ, P, UA, VMW, XRX, YELP, AXP, BAC, COF, EBAY, GOOGL, INTC, JNJ, JPM, KEY, MAT, NFLX, WFC, AZO, ADBE, KKD, CIEN,
More than -10% - GME, CSIQ, FSLR, UBNT, ZU, AEM, P, TPX,
Reversal in progress – P, PCLN, TPX, NFLX, COH, GRMN, KO, MDC, VMW,
Reversal of Initial Reaction – AMZN, FEYE, SWKS, Z, BA, BAC, CHRW, CMG, COF, CREE, DECK, DNKN, DOW, EAT, EBAY, F, GM, GOOGL, INTC, JNJ, JNPR, JPM, KEY, LMT, LUV, MAT, NDAQ, UA, WFC, XRX, ADBE, ALTR, ALTR, AXP, AZO, BTU, K, KKD, KRFT, MRK, PNRA,
The SPY Market Forecast is at 97.
53 of 100 NDX stocks closed higher on Tuesday.
Leading NDX 100 stocks included: CMCSA, LMCK, FOXA, CHTR, FB, ADI, ATVI, SBAC, PCLN, EXPD
Lagging NDX stocks included: GRMN, VIP, NFLX, ILMN, CERN, WYNN, SPLS, TSCO, ORLY, AMGN
Leading stocks > +2% on Tuesday: QIHU, PANW, UNG, GPRO, X, TSL, MFRM, CAR, AAL, CRM
Lagging stocks < -2.0% included: CTRP, DGLY, YOKU, ANGI, SFUN, CMGE, P
Stocks to Watch on Wednesday
Holding Above 30 DMA= 90
ROST, CHRW, GRMN, MYL, SRCL, DLTR, ISRG, MNST, PAYX, REGN, ADP, ALXN, BIDU, COST, ORLY, TSCO, VRTX, XLNX, AAPL, AMGN, BBBY, CELG, ESRX, FISV, HSIC, ILMN, KRFT, MAR, PCAR, SPLS, SYMC, TXN, BRCM, YHOO, CA, CERN, CHKP, CTSH, EXPD, INTU, LBTYA, NVDA, SBAC, SBUX, STX, ADBE, ADSK, KLAC, LMCA, MDLZ, MSFT, VRSK, AMAT, LMCK, MU, WFM, AVGO, FFIV, NTAP, NXPI, VOD, WDC, AKAM, BIIB, CTRX, DISH, EQIX, SIRI, ADI, ALTR, CSCO, DTV, EBAY, EXPE, FAST, INTC, LLTC, MAT, MXIM, SNDK, FOXA, QCOM, TSLA, PCLN, SIAL, AMZN, CHTR, VIAB, ATVI, CTXS, DISCA
Moving Above 30 DMA = 1
Moving Below 30 DMA = 0
Staying Below 30 DMA
GMCR, WYNN, BIIB, GILD, QCOM, TRIP, FB, NFLX
6-month Intermediate Term Market Trend: Up3-day Short Term Market Trend: Up