Breadth strengthened on Thursday as advancers led decliners 3.84 to 1 on the NYSE and 3.58 to 1 on the NASDAQ…
Exchange NYSE NASDAQ
Advancers
2,390 1,941
Decliners
622 548
Thursday Highlights:
SPY gained 2.86…closing at 143.79…volume was 158.2 million shares… Wednesday at 65.4 million
shares…
VIX down – 2.14 at 15.60…
Euro up 30 pips at 1.2629…
TNX +0.79 at 16.73…
TLT down 2.11 at 124.61…
XLF up 36 cents at 15.52…
Gold up 7.90 at 1703.50…
Oil -1.24 at 94.78…
AAPL up 6.04 at 676.27…volume 13.9 million shares …
FB up 38 cents at 18.96… volume 46 million
shares…
The Market Forecast green line is pointed up in the upper
zone.
YTD At a Glance
September YTD
SPY +2.03% +15.65%
AAPL +0.90% +67.70%
EXPE +2.46% +85.28%
STX -2.55% +96.89%
EBAY +3.71% +61.26%
Technical Commentary: The SPY moved up $2.86 on 158.2 million shares, its highest volume since August 3. It seems to indicate traders are back and they are buying. The Unemployment and Jobs Report will be out tomorrow, Friday morning.
The SPY broke out of its current diagonal channel which we correctly identified as a trend continuation pattern. Chart Signals expects the current uptrend to continue. Don’t be surprised if Friday creates a smaller range day consolidating Thursday’s large gains.
The Euro rose and TNX finally jumped higher playing catch up with the falling dollar as bonds dropped. XLF had its largest gain since early July and formed a large white candle that was both a support bounce and a breakout entry.
Technical Commentary: The SPY moved up $2.86 on 158.2 million shares, its highest volume since August 3. It seems to indicate traders are back and they are buying. The Unemployment and Jobs Report will be out tomorrow, Friday morning.
The SPY broke out of its current diagonal channel which we correctly identified as a trend continuation pattern. Chart Signals expects the current uptrend to continue. Don’t be surprised if Friday creates a smaller range day consolidating Thursday’s large gains.
The Euro rose and TNX finally jumped higher playing catch up with the falling dollar as bonds dropped. XLF had its largest gain since early July and formed a large white candle that was both a support bounce and a breakout entry.
New Chart Targets from
Thursday’s Breakout:
SPY = 144.92 1.61 Fib, 146.05 S&R Measuring
ES = 1,443.50
1.61 Fib, 1,455.00 S&R Measuring
Short-term support at
143.09, 140.22, 139.80 =
SPY
1,424.75, 1,403, 1,395 =
ES
2,802.50, 2,750, 2,743 =
NQ
SETUPS…
Flag: ICE, MCP, TLT
Channel at Support: DECK, NTES, SDRL
Bounce: SHLD, AKS, SNDK, SWKS, MAKO, KYAK, CELG, FFIV, JDSU, KORS, JNPR, RVBD,
XLNX, EA, GLW, EBAY,LVS, DHR, SOHU, BRCM, SMH, INTC, MSFT, QCOM, NFLX, WDC, NVDA,
CREE, FCX,DE, GMCR, CRM, VECO, NKE, IBM, ZION, GRMN, V,SLB, CHL,
Wednesday: VHC, MOS,
CLF, CRUS, ORCL, RCL, VMW, ANR, NAV
Tuesday: SINA, STI,
AAPL
Friday: UCO
Continuation: SINA, SWI, CROX, HLF, YELP, ESI, AH, INFA, F, SREV, GME, CDE, APOL,
GLD, ESRX, FAS, AMGN, VRSN,
Support Break: TLT, TSL
Leading NDX 100 stocks included: SHLD, SNDK, MU, APOL, FSLR, GOLD, SYMC, INFY, CTXS, CELG
Lagging NDX stocks included: WCRX, STX, ORLY, FAST, DELL
Leading stocks > +2% on Thursday included: AKS, SWK, SWKS, FAS, ESI, ATI, VMW, COH, JDSU, CRUS, ANR, LNKD, BAC, STI, CMG, TPX, C, ANF, SINA, RCL, JNPR, RVBD, MOS, GLW, LVS, SOHU, F, X, INFA, CREE, GS, SWI, SMH, TBT, FCX, DHR, DECK, WDC, CIEN, DE, CRM, UAL, GES, VECO, TIF, CDE, TSLA, NKE, IBM, FB, A
Lagging stocks < -2.0% included: FAZ, TSL, LDK
Stocks to Watch on Friday…
Holding Above 30 DMA = 36
UCO, TPX, GS, RVBD, SWI, CROX, CRUS, SWKS, CREE, C, FAS, FCX, JDSU, NKE, RCL, STI, TIF, BAC, CDE, CRM, SINA, SOHU, F, ZION, ANF, INFA, ICE, LVS, LNKD, HUM, URE, COH, GLW, CSTR, MOS, UAL
Moving Above 30 DMA = 13
CMG, DE, DECK, DHR, ESI, IBM, JNPR, SMH, SWK, TBT, V, VMW, WDC
Moving Below 30 DMA = 1
TLT
Staying Below 30 DMA
CIEN, SLB, VECO, AKS, ATI, TSL, TSLA, X, ANR, GES, HLF, A, CHL, NTES, GRPN, CLF, DLR, ZAGG, FAZ, FB, LDK, MCP
Thirteen Week Intermediate Term Market Trend: Up
Short Term Market Trend: Up
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