SPY Slips, XLF Holds, NFLX, GRPN Jump as AAPL, GOOG Fall...

Two of nine sectors moved higher on Monday…XLU, XLE and XLF were the strongest sectors.

Breadth weakened on Monday as decliners led advancers 1.51 to 1 on the NYSE and decliners led advancers 1.83 to 1 on the NASDAQ…

Exchange     NYSE    NASDAQ

Advancers    1,176        853
Decliners      1,784      1,565

SPY down 50 cents at 145.64...volume 78.4 million shares

VIX up 0.78 at 15.11…

TNX up 0.14 at 17.46…
TLT up 1.02 at 122.17…
XLF down 1 cent at 16.05…

AAPL down -14.42 at 638.17…volume 22.7 million shares …

FB down 51 cents at 20.40… volume 32.2 million shares…

The Market Forecast green line is pointed up.          

Technical Commentary:

Iron ore metals company CLF and steel stocks STLD, X, NUE and AKS were on the rise on Monday while the broad market SPY and tech stocks AAPL, GOOG and QCOM moved lower.  FB was downgraded and moved lower on declining volume.  NFLX continued its recent surge and SHLD joined with a strong bounce.

While bond trading was closed on Columbus Day, Financials XLF fell just one cent as the Euro rose from overnight lows forming another flag pattern.

The trend is still up with SPY just below horizontal resistance forming a potential ascending triangle.

Earnings Season starts tomorrow as AA announces Tuesday after the close. 

Earnings to Watch:

Tuesday - AA

Wednesday – COST

Thursday – FAST

Friday – JPM, WFC, INFY

Chart Targets:

SPY = 147.88 2.61 Fib

ES = 1,466.00 2.61 Fib on ESZ2

EUR/USD = 1.3095 1.60 Fib, 1.3345 S&R Measuring

Short-term support at
143.09, 142.33 = SPY
1,424, 1,417.50 = ES
2,775, 2,762.25, 2,750 = NQ

Setups:

Bull Flag: NTES, SINA, SWK, RVBD, LVS, HUM, FB, IWM, MS, ANR, SOHU, BTU, ACI, ZAGG, TBT, XLF, BAC, C, WFC, STI, LIFE, PHM, HLF, OI, V, F, PAY, ZION, GRMN

Resistance Setup: GRPN, GME, AMZN, VMW, IBM, DHR, GS, RCL, CDE, GLW, DE, LCC, UAL, BPOP

At Support: CMG, MCP, SBUX, AMAT, JDSU, LNKD, QCOM, EXPE

Break of Support:  CTXS

Gap Up: AVP,

Resistance BO:  STZ, VIAB

Bounce: KMX, PLCM, NAV, GTI, CLF, TPX, GRPN, SHLD, BBBY, WLT, FCX, JRCC, GNW, HUN,

22 of 100 NDX stocks closed higher on Monday…

Leading NDX 100 stocks included:  NFLX, SHLD, GMCR, BBBY, DELL, VIAB, SPLS, FIXS, GILD, AKAM

Lagging NDX stocks included: ALXN, AAPL, QCOM, ADSK, INFY, VRSN, DLTR, EBAY, AVGO, VRTX

Leading stocks > +2% on Monday included:  CLF, TPX, AKS, GRPN, ANR, X ANF, MCP, CMG

Lagging stocks < -2.0% included: JDSU, VECO, FB, CROX

Stocks to Watch on Tuesday…

Holding Above 30 DMA = 34

GS, RVBD, C, FAS, FCX, RCL, STI, BAC, CDE,  ZION, LVS, LNKD, HUM, GLW, DE, DHR, IBM, SWK, V A, CHL, GRPN, NTES, CRM, UAL, HLF, TIF, TSL, VMW, F, TBT, TPX

Moving Above 30 DMA = 2

CLF, TSLA

   

Moving Below 30 DMA = 2

ZAGG, FB

Staying Below 30 DMA

SWI,SINA, TLT, ATI, CMG, INFA, JDSU, SOHU, MCP, ANR, ESI, ICE, MOS, SLB, ANF, CREE, CRUS, JNPR, URE, COH, CROX, NKE, VECO, CSTR, DECK, UCO, AKS, DLR, SMH, SWKS, X, WDC, CIEN, GES, FAZ, LDK

Eighteen Week Intermediate Term Market Trend: Up

Short Term Market Trend: Up