All nine sectors moved lower on Friday… XLU, XLI, and XLV were the strongest sectors. XLF was the weakest sector.
Breadth weakened on Friday as decliners led advancers…2.15 to 1 on the NYSE and 2.03 to 1 on the NASDAQ…
Thursday – strengthened,
advancers led
Wednesday – weakened,
decliners led
Tuesday – strengthened,
advancers led
Monday – strengthened,
advancers led
NDX 100 annual changes prior to the open Monday, Dec. 24, 2012:
Additions: ADI, CTRX,
DISCA, EQIX, LBTYA, LMCA, REGN, SBAC, VRSK, WDC
Deletions: APOL, EA, FLEX, GMCR, LRCX, MRVL, NFLX, RIMM,
VRSN, WCRX
If short-term trades
were exited through target or stop, begin to look for re-entry on a valid
signal.
SPY down -1.31 at 142.79...volume 245.8 million
shares…
VIX + .17 at 17.84…
TNX -0.46 at 17.54…
TNX -0.46 at 17.54…
TLT up 1.32 at 122.25…
XLF down 20 cents at 16.40…volume 58.7 million shares
XLF down 20 cents at 16.40…volume 58.7 million shares
AAPL down –2.40 at 519.33…volume 21.3 million shares …
FB down -1.10 at`26.26…on volume of 54.5 million shares…
__________________
Technical Commentary:
Futures collapsed in one
minute Thursday night following cancellation of a tax plan vote. Futures’
prices opened lower Friday morning and traded in a narrow range and closed higher
than the open but down from Thursday’s close.
The SPY closed down -1.31
at 142.79 forming a new
potential bull flag. The VIX closed higher and did confirm the SPY
move down.
Though the pullback was
sharp Thursday evening, the weight of the evidence continues to suggest that the current 4+ week uptrend is likely to continue.
The Euro closed down 55 pips at 1.3188 on Friday. TNX was lower, TLT, bonds rose 1.32
and XLF moved down 20 cents to 16.40.
Disk storage stocks WDC was down 7 cents and STX up 8 cents. Coal stocks ANR, ACI, BTU, CNX and WLT were lower on Friday
in bull flag type patterns.
SPY – gap lower white candle, bull flag setup
AAPL – gap lower white candle above support,
MACD divergence, below 30 DMA
FB – black candle in extended flag channel, BO
target 29.63
FAS gap lower white candle, bull flag setup
AMZN – black spinning top, breakout test
EXPE – black spinning top, bull flag setup
STX – potential hanging man, breakout test
VIAB – hammer, bull flag setup
RIMM – black candle gap down after EPS
CRUS – white candle, potential higher low W pattern
F – bullish engulfing following gap down, re-breakout
above T1
PHM – dragonfly doji, bull flag setup
SWK – black spinning top, bull flag setup
SWI – black candle new low in extended flag channel,
close below 30 DMA
RAX – gap down white candle, breakout test holds
above S1
URI – gap down white candle, breakout test
YELP – white spinning top, above 30 DMA
XHB – gap down white candle, diagonal breakout
test, bull flag setup
XRT – gap down white candle, above30 DMA
BO = breakout, DBO =
diagonal breakout, CT = counter-trend, IT = intermediate term, ST = short term
The Market Forecast
Green Line is in the upper reversal zone.
____________________
Chart Targets:
SPY = 146.82 short-term
resistance flagpole target
ES = 1,449 161% Fib extension
ES = 1,449 161% Fib extension
1,459 = 200% measuring
EUR/USD = 1.3281 161%
Fib extension
Short-term support at
1.3126 = Euro
1.3126 = Euro
140.88 = SPY
85.18 = SPXL
1,419, 1,405 = ES
2,609 = NQ
1,419, 1,405 = ES
2,609 = NQ
Setups:
Bull Flag: MCP, CELG,
MNST, DELL, DECK, VMW, TRIP, NTAP, SMH, FB, SBUX, IBM, FAS, AMZN, X, STI, ZION,
ADI, AKS, SPY, DIA, IWM, LNKD, XRAY
Moves:
Bull Flag Bounce:
Bounce Continuation: STX, AMAT, SNDK,
LLTC, SIAL, SWK, SIAL, COST
Pause: WDC, URE, BAC, V, C, X, DLR, ALTR, EXPD, MRVL, TSLA, VECO, BIIB, GILD, GRMN, XLNX, URI, EBAY, BRCM, VIAB, PCAR, DISCA
____________________
15 of 100 NDX stocks
closed higher on Friday…
Leading NDX 100 stocks included: FAST, ISRG,
ROST, AMAT, GOLD, CTXS, VRSN, COST, STX, SNDK
Lagging NDX stocks included: RIMM, SHLD, MU, FB, GMCR, PAYX, BMC, CERN, NFLX, NVDA
Leading stocks> +2% on Friday included: NKE, TSL, FAZ
Lagging stocks < -2.0% included: HLF, LDK, FSLR, ZAGG, FAS, ICE, SWI, X, AKS, MCP, ANF, ANR, STI, TRIP, CREE, TBT, UCO, BAC
Stocks to Watch on Monday…
Holding Above 30 DMA = 79
YHOO, MYL, XRAY, SBUX, HSIC, FB, CSCO, NTAP GMCR, VMED, EXPD, LLTC, MXIM, PCAR, TXN, XLNX, BIIB, CELG, EBAY, LIFE, SIAL, AMZN, FISV, ADSK, DELL, FFIV, MAT, MRVL, MU, ORCL, BRCM, COST, MNST, ADBE, GOOG, GRMN, NWSA, SYMC, WYNN, AMAT, CTSH, ADP, APOL, FOSL, INTU, KLAC, NFLX, VIAB, FLEX, NUAN, STX, AKAM, ALTR, CHKP, DTV, FAST, MCHP, SNDK, CTXS, ALXN, CHRW, LRCX, MDLX, NVDA, ESRX, EXPE, INTC, SIRI, BIDU, WCRX, BMC, CMCSA, CERN, VRTX, CA, LINTA, MSFT, WFM, DLTR
YHOO, MYL, XRAY, SBUX, HSIC, FB, CSCO, NTAP GMCR, VMED, EXPD, LLTC, MXIM, PCAR, TXN, XLNX, BIIB, CELG, EBAY, LIFE, SIAL, AMZN, FISV, ADSK, DELL, FFIV, MAT, MRVL, MU, ORCL, BRCM, COST, MNST, ADBE, GOOG, GRMN, NWSA, SYMC, WYNN, AMAT, CTSH, ADP, APOL, FOSL, INTU, KLAC, NFLX, VIAB, FLEX, NUAN, STX, AKAM, ALTR, CHKP, DTV, FAST, MCHP, SNDK, CTXS, ALXN, CHRW, LRCX, MDLX, NVDA, ESRX, EXPE, INTC, SIRI, BIDU, WCRX, BMC, CMCSA, CERN, VRTX, CA, LINTA, MSFT, WFM, DLTR
Moving Above 30 DMA = 0
Moving Below 30 DMA = 7
AMGN, ORLY, PAYX, PRGO,
QCOM, RIMM, SPLS
Staying Below 30 DMA
BBBY, EA, GILD, ISRG,
SRCL, ATVI, VOD, AVGO, PCLN, AAPL, SHLD, GOLD, VRSN, ROST
Fifteen Week
Intermediate Term Market Trend: Neutral
Short Term Market Trend:
Neutral
No comments:
Post a Comment