Wednesday, December 7, 2016

SPY Volume Jumps as SPY, DIA, IWM, XLB and XLY Hit New All-time Highs...


Sector Trend Strength:
Up Trend: XLF, XLI, XLB, XLY, XLE
Sideways: XLK, XLV, XLRE
Down Trend: XLP, XLU


Breadth strengthened as advancers led 2,310 to 720 on the NYSE and led 1,804 to 988 on the NASDAQ.

Wednesday – strengthened, advancers led, +9
Tuesday – weakened slightly, advancers led, +8
Monday – strengthened, advancers led, +8
Friday – strengthened, advancers led, +7
Thursday – weakened slightly, decliners led, +5


Oil futures were down 1.07 to close at 49.81.

SPY up 2.90 at 221.70 on 110.7 million shares, 18% above average volume
VIX up .43 at 12.22
TLT up 1.02 at 120.40…on 10.3 million shares, 6% below average volume

Technical Commentary:
DIA +1.55%, SPY +1.31%, QQQ +1.27%, IWM +0.97%,


Financials continued its upward momentum on Wednesday as XLRE, XLY, XLK, XLI and XLF were the leading sectors.

IWM, DIA, SPY, XLY and XLB made new all-time closing highs on Wednesday.

SPY broke out of horizontal resistance
XLE is a pennant pattern
MUR is a bull flag pattern
NVDA and CCL are horizontal resistance breakout setups

Steel stocks X, VALE, MT, AKS, NUE, CLF, ATI, SCHN and STLD continued higher in their uptrend.


SPX up 29 points at 2,241

SPX Leaders: WDC, MU, DLPH, UA, BWA, LOW, KSS, MPC, JWN, GT, GPS, FSLR, DFS, PVH, LUV, VLO, CBS, F, AZO, KMX, TSO, VTR, PLD, HPQ, GM, NTRS, WY, BBY, ALK, DAL, PHM, LB, NSC, IR, AN, GIS, EXR, MA, R, WFC, LM, UNP, GPC, JNPR, HON, NKE, HPE, EMR, IP, PSA, MOS, HD, KSU, EQIX, LEN, ALB, HRB, V, MAS, DLR

QQQ is in sideways trend and continued to rise and is near its intermediate-term resistance.   

NDX point gainers: MSFT, AAPL, GOOGL, INTC, KHC, CSCO, AMZN, CHTR, MDLZ, SBUX, TMUS, AVGO, CMCSA, FB, WDC, MU, COST, QCOM, AAL, BIDU, PCAR and PCLN


Follow your rules and look for potential re-entry if you were stopped out of any profitable trades.

Continue to move up stops on short term bullish trades that could pull back.  All according to your profit protection rules.  If you moved stops you may have been stopped out today.


Remember breakouts typically test about 70% of the time.

Technical analysis based trades should be closed before earnings.

Trade what you see, not…

Stocks below support should generally be traded bearishly until a reversal pattern forms.


2016 Q3 EPS
EPS Positive Reactions
BOBE, FIVE, BIG, THO, CTRP, DE, VEEV, GME, BURL, SINA, DLTR, WB, ADI, CPB, HRL, JEC, SIG, MRVL, ROST, INTU, BBY, NTAP, TGT, AAP, JD, NVDA, KSS, M, JWN, RL, DDS, QVCA, JCI,
EPS Negative Reactions
WDAY, AMBA, SWHC, ULTA, ADSK, URBN, PDCO, MDT, TSN, GPS, CSCO, LOW, HD, TJX,


______________________

Strong Stocks: Setups and Moves You Can Use
Bull Flag Setups include: LMT, DLTR, FOSL, MUR, TGT, BURL, WB, FTI,

Bull Flag Bounces include: MU, AAL, NTAP, ADP, FISV, PAYX, SKYW, PWR, SBUX, JD, AAPL, MMM, UTX, CHTR, CMCSA,

Horizontal Breakout Setups include: MU, SKYW, PWR, JD, AAPL, UTX, CMCSA, CCL, SCHN, NFLX, ESRX, ATI, INCY, COST, FCX, TECK, APA, LNG, STX, CTXS, RCL, MCD, JWN, HIG, LRCX, ADI, EXPE, FB, KLAC, TXN,

Horizontal Breakouts include: AAL, DAL, AAP, UAL, LUV, BBY, ICE, BBBY, CHTR, MU, ADP, PAYX, MMM, NCHL, SBUX,

New Highs include: STI, CE, MGM, STLD, NUE, X, CHK, SQ, MAR, XLNX, JPM, BAC, C, GS, HBAN, ZION, CFG, MS, ETFC, USB, CMA, KEY, RF, SCHW, TRV, BHI, HES, CE, CC, HAL, ALK, SAVE, WDC, BA, PCAR, AKS, FDX, UPS, CSX,


______________________

Trade with the trend of the chart you are trading and continue to move your profit protection stops.  Continue to follow your rules.


The SPY MFC green line is pointed up at 91, bullish

82 of 100 NDX stocks closed higher on Wednesday.

61 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 10
AAPL, AMZN, BIDU, CA, EBAY, GOOG, MXIM, SWKS, TSLA, VIAB

Moving Below 30 DMA = 2
AMGN, CLEG


6-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Up

Tuesday, December 6, 2016

SPY, IWM and DIA Make New All-time Closing High as Financial Sector Leads...


Sector Trend Strength:
Up Trend: XLF, XLI, XLB, XLY, XLE
Sideways: XLK, XLV, XLRE
Down Trend: XLP, XLU


Breadth weakened slightly as advancers led 2,161 to 868 on the NYSE and led 1,901 to 884 on the NASDAQ.

Tuesday – weakened slightly, advancers led, +8
Monday – strengthened, advancers led, +8
Friday – strengthened, advancers led, +7
Thursday – weakened slightly, decliners led, +5
Wednesday – weakened, decliners led, +4


Oil futures were down .25 to close at 50.70.

SPY up .70 at 221.70 on 57.6 million shares, 37% below average volume
VIX down .35 at 11.79
TLT down .09 at 119.38…on 11.3 million shares, 5% above average volume

Technical Commentary:
IWM +1.08%, SPY +0.32%, QQQ +0.23%, DIA +0.14%,


Financials regained upward momentum on Tuesday and led 8 of 10 sector ETFs higher.

IWM, DIA and SPY made new all-time closing highs on Tuesday.

SPY is a horizontal resistance breakout setup
IWM made a horizontal resistance breakout entry on Tuesday
XLY continued its flag bounce
XLB continued its flag bounce
XLE and MUR are forming a pennant pattern
NVDA and CCL continued their flag bounce and are nearing a horizontal resistance breakout setup

Steel stocks MT, ATI, X, STLD, VALE and NUE continued higher in their uptrend.


SPX up 7 points at 2,212

SPX Leaders: ADSK, NFLX, BWA, KMX, UAL, WYNN, CBG, WU, VRTX, NFX, ZION, DAL, DLPH, FTR, ZBH, QRVO, WAT, WDC, AN, OI, AIZ, NDAQ, HRB, CMA, MU, AMG, STI, LEN, WFC, HM, RHI, R, EXR, COP, ALK, CHTR, DHI, AME, RIG, PDCO

QQQ is in sideways trend and bounced up from Friday’s spinning top near its intermediate-term support.   

NDX point gainers: AAPL, AMZN, INTC, QCOM, CHTR, ADSK, NVDA, TMUS and TXN


Follow your rules and look for potential re-entry if you were stopped out of any profitable trades.

Continue to move up stops on short term bullish trades that could pull back.  All according to your profit protection rules.  If you moved stops you may have been stopped out today.


Remember breakouts typically test about 70% of the time.

Technical analysis based trades should be closed before earnings.

Trade what you see, not…

Stocks below support should generally be traded bearishly until a reversal pattern forms.


2016 Q3 EPS
EPS Positive Reactions
BOBE, FIVE, BIG, THO, CTRP, DE, VEEV, GME, BURL, SINA, DLTR, WB, ADI, CPB, HRL, JEC, SIG, MRVL, ROST, INTU, BBY, NTAP, TGT, AAP, JD, NVDA, KSS, M, JWN, RL, DDS, QVCA, JCI,
EPS Negative Reactions
WDAY, AMBA, SWHC, ULTA, ADSK, URBN, PDCO, MDT, TSN, GPS, CSCO, LOW, HD, TJX,


______________________

Strong Stocks: Setups and Moves You Can Use
Bull Flag Setups include: MU, AAL, LMT, NTAP, DLTR, FOSL, MUR, ADP, TGT, BURL, FISV, PAYX, AAL, SKYW, PWR, SBUX, WB, JD,
AAPL, MMM, UTX, CHTR, CMCSA,

Bull Flag Bounces include: KLAC, DAL, AAP, UAL, TXN, CHTR,


Horizontal Breakout Setups include: CCL, NCLH, SCHN, LUV, ICE, ESRX, BBBY, ATI, INCY, COST, FCX, BBY, TECK, APA, LNG, STX, CTXS, RCL, MCD, JWN, LRCX, ADI, EXPE, FB,

Horizontal Breakouts include: C, BAC, STI, CE, MGM, XLNX, HIG, NFLX,


New Highs include: STLD, NUE, X, CHK, SQ, MAR, JPM, BAC, GS, HBAN, ZION, CFG, MS, ETFC, USB, CMA, RF, SCHW, TRV, BHI, HES, CE, CC, HAL, ALK, SAVE, WDC, BA, PCAR, AKS, FTI, FDX, UPS, CSX,

______________________

Trade with the trend of the chart you are trading and continue to move your profit protection stops.  Continue to follow your rules.


The SPY MFC green line is pointed up at 89, bullish

52 of 100 NDX stocks closed higher on Tuesday.

53 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 7
ADSK, AMGN, INTC, NFLX, QCOM, SIRI, TXN,

Moving Below 30 DMA = 2
CA, SHPG,


6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

Monday, December 5, 2016

Bull Flag Bounce IWM, SPY, XLB, XLE, NVDA, CCL, MUR,


Sector Trend Strength:
Up Trend: XLF, XLI, XLB, XLY, XLE
Sideways: XLK, XLV, XLRE
Down Trend: XLP, XLU


Breadth strengthened as advancers led 2,150 to 857 on the NYSE and led 2,108 to 661 on the NASDAQ.

Monday – strengthened, advancers led, +8
Friday – strengthened, advancers led, +7
Thursday – weakened slightly, decliners led, +5
Wednesday – weakened, decliners led, +4
Tuesday – strengthened, decliners led, +9


Oil futures were down .73 to close at 50.95.

SPY up 1.32 at 221.00 on 67.8 million shares, 26% below average volume
VIX down 1.98 at 12.14
TLT down .13 at 119.47…on 12.1 million shares, 12% above average volume

Technical Commentary:
IWM +1.72%, QQQ +0.78%, SPY +0.60%, DIA +0.25%,


IWM, DIA and SPY continue to remain above their horizontal resistance breakout level

SPY, IWM, XLY, XLB, XLE, NVDA, CCL and MUR bounce in their bull flag price patterns. 

Steel stocks CLF, AKS, X, MT, SCHN, STLD, NUE and VALE move to new highs in their uptrend.


SPX up 12 points at 2,204


SPX Leaders: AA, FSLR, RRC, SWN, VLO, KORS, URBN, RIG, PVH, TSO, COG, NRG, FOSL, VWA, CTXS, NVDA, QRVO, PCAR, SYMC, CRM, CHK, COH, GCI, NUE, TRIP, OKE HST, DISCA, TDC, PBI, PFG, FCX, BAC, MAS, HPQ, NKE, TEL, GPS, MHK, AMZN, BBBY, BBY

QQQ is in sideways trend and bounced up from Friday’s spinning top near its intermediate-term support.   

NDX point gainers: AMZN, MSFT, FB, GOOG, NVDA, CSCO, PCLN, ADBE, CHTR and INTC


Follow your rules and look for potential re-entry if you were stopped out of any profitable trades.

Continue to move up stops on short term bullish trades that could pull back.  All according to your profit protection rules.  If you moved stops you may have been stopped out today.

Remember breakouts typically test about 70% of the time.

Technical analysis based trades should be closed before earnings.

Trade what you see, not…

Stocks below support should generally be traded bearishly until a reversal pattern forms.


2016 Q3 EPS
EPS Positive Reactions
FIVE, BIG, THO, CTRP, DE, VEEV, GME, BURL, SINA, DLTR, WB, ADI, CPB, HRL, JEC, SIG, MRVL, ROST, INTU, BBY, NTAP, TGT, AAP, JD, NVDA, KSS, M, JWN, RL, DDS, QVCA, JCI,
EPS Negative Reactions
WDAY, AMBA, SWHC, ULTA, ADSK, URBN, PDCO, MDT, TSN, GPS, CSCO, LOW, HD, TJX,


______________________

Strong Stocks: Setups and Moves You Can Use
Bull Flag Setups include: KLAC, NTAP, DLTR, FOSL, MUR, ADP, TGT, MU, BURL, FISV, PAYX, DAL, AAP, AAL, UAL, SKYW, PWR, SBUX, TXN, WB, JD, AAPL, MMM, UTX, CHTR, UNH, CMCSA,

Bull Flag Bounces include: CCL, NCLH, RCL, MCD, C, BAC, JWN, LRCX, FCX, BBY, TECK, APA, LNG, ADI, EXPE,


Horizontal Breakout Setups include: SCHN, LUV, CE, MGM, BAC, C, LNG, STX, XLNX, ICE, LMT, ESRX, BBBY, STI, HIG, ATI, INCY, COST, NFLX, FB, PCAR,

Horizontal Breakouts include: JPM, CTXS,



New Highs include: AKS, STLD, NUE, X, CHK, FTI, SQ, MAR, JPM, BAC, GS, HBAN, ZION, CFG, MS, ETFC, USB, CMA, RF, SCHW, TRV, FDX, UPS, CSX, BHI, HES, CE, CC, HAL, ALK, SAVE, WDC, BA, 


______________________

Trade with the trend of the chart you are trading and continue to move your profit protection stops.  Continue to follow your rules.


The SPY MFC green line is pointed up at 89, bullish

74 of 100 NDX stocks closed higher and one was unchanged on Monday.

48 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Tuesday:
Moving Above 30 DMA = 10
ALXN, CA, CHKP, CTXS, DISCA, DISH, MSFT, PCLN, SHPG, VRSK,

Moving Below 30 DMA = 2
CTRP, NFLX,


6-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Up

Friday, December 2, 2016

SPY, IWM, XLY in Bull Flag Price Pattern...XLB, XLE, XLF in Day One Pullback...Steel Stocks on the Rise...


Flag Setups for Next Week:
                   (click image to enlarge)


Sector Trend Strength:
Up Trend: XLF, XLI, XLB, XLY, XLE
Sideways: XLK, XLV
Down Trend: XLP, XLU, XLRE

For the week ended December 2, four of ten sectors moved higher.
XLE +2.90%, XLF +1.07%, XLB +0.85%, XLI +0.16%, XLU -0.76%, XLRE -0.77%,
SPY -0.83%,
Lagging sectors XLP -0.32%, XLV -0.32%, XLY -0.32%, XLK -0.32%,

YTD 233
Leading Sectors: XLE +24.06%, XLI +18.49%, XLF +17.05%, XLB +15.11%, XLK +9.01%, XLU +8.13%,
SPY +7.75%,
Lagging Sectors: XLY +4.20%, XLP +0.16%, XLV -5.03%, XLRE -5.12%

Breadth strengthened as advancers led 1,649 to 1,345 on the NYSE and led 1,413 to 1,343 on the NASDAQ.

Friday – strengthened, advancers led, +7
Thursday – weakened slightly, decliners led, +5
Wednesday – weakened, decliners led, +4
Tuesday – strengthened, decliners led, +9
Monday – weakened, decliners led, +4


Oil futures were up .77 to close at 51.68, eclipsing its Oct 19 high by one cent.

SPY up .43 at 219.68 on 74.8 million shares, 19% below average volume
VIX up .05 at 14.12
TLT up .87 at 119.60…on 12.4 million shares, 17% above average volume

Technical Commentary:
QQQ +0.20%, SPY +0.05%, IWM -0.05%, DIA -0.08%,


IWM, DIA and SPY continue to remain above their horizontal resistance breakout level

SPY, IWM and XLY are bull flag price patterns.  XLB, XLE and XLF are in a day one pullback flag pattern.

Steel stocks AKS, X, CLF, VALE, MT, SCH, STLD and NUE resumed their uptrend today after a four-day pause.


SPX up .87 point at 2,191.95

SPX Leaders: AMAT, NEM, EBAY, IRM, TSO, HES, NFLX, WD, WMB, LLY, QCOM, EXC, WHR, FCX, FTI, GPN, CHK, GGP, ALK, O, CBG, EW, EFX, HCN, SWKS, CA, H, HPE, BHI, STX

QQQ is in sideways trend and formed a spinning top near its intermediate-term support today.   

NDX point gainers: QCOM, AAPL, INTC, AMAT, NFLX, AMGN, EBAY, GOOG and WBA


Follow your rules and look for potential re-entry if you were stopped out of any profitable trades.

Continue to move up stops on short term bullish trades that could pull back.  All according to your profit protection rules.  If you moved stops you may have been stopped out today.


Remember breakouts typically test about 70% of the time.

Technical analysis based trades should be closed before earnings.

Trade what you see, not…

Stocks below support should generally be traded bearishly until a reversal pattern forms.


2016 Q3 EPS
EPS Positive Reactions
FIVE, BIG, THO, CTRP, DE, VEEV, GME, BURL, SINA, DLTR, WB, ADI, CPB, HRL, JEC, SIG, MRVL, ROST, INTU, BBY, NTAP, TGT, AAP, JD, NVDA, KSS, M, JWN, RL, DDS, QVCA, JCI,
EPS Negative Reactions

WDAY, AMBA, SWHC, ULTA, ADSK, URBN, PDCO, MDT, TSN, GPS, CSCO, LOW, HD, TJX, 


______________________

Strong Stocks: Setups and Moves You Can Use
Bull Flag Setups include: FCX, BBY, NTAP, DLTR, ADP, TGT, TCK, MU, CCL, MCD, BURL, FISV, PAYX, DAL, AAP, UAL, SKYW, MUR, APA, LNG, C, BAC, PWR, SBUX, RCL, JWN, NCLH, FOSL, TXN, KLAC, WB, LRCX,

Bull Flag Bounces include: MGM, NUE, SCHN, LUV, X, SQ,


Horizontal Breakout Setups include: NUE, X, LUV, CE, FTI,


Horizontal Breakouts include: STLD, AKS, CHK, SQ,

New Highs include: BHI, HAL, HES, SQ, ALK, CE, CC, SAVE, TRV, CMA, WDC, FDX, AAL, ALK, UPS, BA, HBAN, ZION, GS, CFG, MS, ETFC, USB, RF, SCHW, CSX, UNH, MAR, CMCSA,

______________________

Short-term Movers for the week:
SPX gainers:  RIG, HP, MRO, NFX, HES, CHK, HAL, XEC, DVN, EOG, NBL, APC, URI, MUR, CXO, GS, LUK, NOV, FLS, CFG, NEM, COP, UNH, CMA, MOS, CVS, FTI, GWW, HST, SLB, TIF, +10, 4,  +4, 32

SPX losers:  HRB, FOSL, COTY, AA, QRVO, MAS, CRM, TSS, DG, ADS, STZ, MNK, HBI, FBHS, MCHP, GCI, BAX, RL, NWL, PVH, HRL, FTR, TDG, DLPH, URBN, NAVI, DHI, KORS, COH, V, GPN, MHK, VLO, AJG, LEN, COO, EFX, PHM, TXN, GPS, FE, AFL, FIS, WU, MDT, HAS, ALLE, GT, AMT, ORCL, MA, KIM, RCL, TAP, CCL, K, -4, 85

NDX gainers:  CSX, ALXN, FAST, +4, 0

NDX losers:  VRTX, TRIP, LBTYA, QVCA, TSLA,BMRN, MAT, AVGO, ADSK, MU, SIRI, LRCX, REGN, XRAY, LVNTA, NVDA, MXIM, SRCL, ADI, ILMN, INCY, SYMC, CERN, AMZN, ADBE, TXN, EXPE, MDLZ, SWKS, AKAM, SBAC, EA, FB, PYPL, ENDP, ATVI, GILD, -4, 38

YTD: 233
SPX Leaders:  FCX, OKE, NEM, SE, PWR, SWN, MLM, CMI, CHK, HAL, (355, -16, > 10p 238, -19)
SPX Losers:  FSLR, GCI, PRGO, AGN, HRB, COTY, PBI, MNK, UA, MCK

NDX Leaders:  NVDA, AMAT, CHTR, CSX, TMUS, ULTA, NTAP, PCAR, MU, QCOM, (56, -8, >10p 37, -6)
NDX Losers:  ENDP, TRIP, VRTX, SRCL, ALXN, MYL, ILMN, NCLH, REGN, LBTYA

DJI Leaders:  CAT, UNH, CVX, GS, JPM, IBM, MRK, WMT, MMM, UTX, (23, -2, >10p 11, -2
DJI Losers:  NKE, DIS, KO, V, PFE, HD, INTC

Trade with the trend of the chart you are trading and continue to move your profit protection stops.  Continue to follow your rules.


The SPY MFC green line is in the upper zone at 88, bullish

56 of 100 NDX stocks closed higher on Friday.

40 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 2
LRCX, NFLX,

Moving Below 30 DMA = 2
DISCA, SIRI,


6-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Down