Friday, November 30, 2012

SPY, Financials, Euro Pause as FB Makes Another Recent High...

Five of nine sectors moved higher on FridayXLU, XLP, and XLV were the strongest sectors. 

Breadth
weakened on Friday as advancers led decliners1.21 to 1 on the NYSE and decliners edged advancers 1.01 to 1 on the NASDAQ…

SPY up 4 cents at 142.16...volume 136.5 million shares…
VIX up 0.81 at 15.87
TNX down -0.14 at 16.06…
TLT down 34 cents at 124.79…
XLF
down 2 cents at 15.77…volume 29.6 million shares

AAPL down 4.08 at 585.28…volume 13.9 million shares
FB up 68 cents at`28.00…on volume increase to 127 million shares…

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Technical Commentary:
The SPY formed a doji above its 30 DMA, the VIX moved up and did not confirm the SPY move up slightly.

The ES closed down 0.50 at 1,415.50…NQ futures closed down 0.75 at 2,678.75.

The weight of the evidence continues to suggest the Nov 16 low is likely to hold and Friday’s price action suggests continuation to higher levels even if another pull back occurs.

The Euro closed up 9 pips at 1.2986 on Friday.

TNX, interest rates moved slightly lower and TLT, bonds moved down 34 cents.  XLF was 2 cents lower at 15.76.


SPY – doji inside day, support at 30 DMA

AAPL spinning top, lower close above 30 dma
FB – large white candle, new high close, continuation, BO target 29.63
FAS – doji, bull flag bounce pause at ST resistance
AMZN – white candle, continuation, BO target 259.24
EXPE – white spinning top, BO continuation
STX – black candle, new low
VIAB – white candle, DBO continuation, above 30 DMA
RIMM – spinning top, inside day, BO setup
CRUS – doji, DBO setup neckline inverse head & shoulders
F – potential bearish harami, BO setup
PHM – black candle, close below 30 DMA
SWK – gap black spinning top, ST support at 30 DMA
SWI – white spinning top, BO continuation
RAX – potential hanging man, BO setup above 30 DMA
URI – potential hanging man, BO setup above 30 DMA
YELP – black candle, bull flag pull back under 30 DMA
XHB – potential hanging man, BO setup, above 30 DMA
XRT – doji holds above S1, above 30 DMA

BO = breakout, DBO = diagonal breakout, CT = counter-trend, IT = intermediate term, ST = short term


The Market Forecast Green Line is pointed up above the lower reversal zone.

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Chart Targets:
SPY = 143.52 short-term resistance
ES =
1,419.50…1,425 short-term resistance
EUR/USD = 1.3076 short-term resistance

Short-term support at
1.2954, 1.2878 = Euro
140.69 = SPY
83.20 = SPXL
1,396 = ES
2,626 = NQ

Setups:
Bull Flag:  COH, CREE, GRPN, NKE, SWK, VMW, YELP, OSK

Horizontal Setup:  A, BAC, CHL, CIEN, CRM, DECK, F, FAS, JNPR, LVS, MCP, MOS, RAX, RCL, SMH, URI

Diagonal Setup:  CMG, CRUS, DE, IBM, STI, TER

Moves:
Gap Up:  TLAB, ULTA

Gap Down:  VRSN, YUM, KAR
 
Breakout: SLB, SWI, V

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53 of 100 NDX stocks closed higher and 2 were unchanged on Friday…


Leading NDX 100 stocks included: COST, VMED, ADBE, ORLY, MAT, CHKP, INTU, EBAY, XLNX, FISV

Lagging NDX stocks included: VRSN, BIDU, SHLD, CTXS, APOL, TXN, SNDK, KRFT, EA, MSFT

Leading stocks > +2% on Friday included:  ANR, FB, UCO, CREE

Lagging stocks < -2.0% included: GRPN, VECO, ZAGG, AKS, YELP, COH, CROX

Stocks to Watch on Friday…
Holding Above 30 DMA = 69
YHOO, MYL, ORLY, CERN, NFLX, RIMM, XRAY, PCLN, SBUX, QCOM, HSIC, GILD, SPLS, NTAP, CSCO, EXPE, GMCR, VMED, ATVI, CHKP, EA, EXPD, LLTC, MNIM, PCAR, TXN,  XLNX, AMGN, BIIB, CELG, DLTR, EBAY, LIFE, SIAL, AMZN, BBBY, FISV, ADSK, ALTR, AVGO, CHRW, DELL, FFIV, MAT, MRVL, MU, ORCL, AAPL, BRCM, INFY, SRCL, BMC, COST, KRFT, MNST,
ADBE, ALXN, CMCSA, FOSL, GOOG, GRMN, NWSA, SYMC, WYNN, AMAT, CTSH, NUAN, PAYX, VIAB

Moving Above 30 DMA = 3
ADP, INTU, WCRX

Moving Below 30 DMA = 1
CTXS

Staying Below 30 DMA
LRCX, NVDA, ISRG, WFM, SIRI, KLAC, LINTA, SHLD, FLEX, STX, AKAM, GOLD, MCHP, MSFT, PNRA, SNDK, FAST, INTC, BIDU, ESRX, VRSN, APOL, VRTX, VOD, DTV, CA, ROST


Fourteen Week Intermediate Term Market Trend: Neutral
Short Term Market Trend: Up

4 comments:

Anonymous said...

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