Friday, November 29, 2013

QQQ and IWM Make Another New High Close on Light Volume on Half Trading Day...AMZN, NFLX, PCLN, QCOM New High Close...

Two of nine sectors moved higher on Friday…XLK, XLY and XLU were the strongest sectors…while XLF was the weakest sector. 

Breadth weakened on light volumeadvancers led decliners…1.26 to 1 on the NYSE and 1.59 to 1 on the NASDAQ where advancers led decliners.

Friday – weakened, advancers led
Wednesday – unchanged, advancers led
Tuesday – strengthened, advancers led
Monday – weakened, mixed


SPY down -.12 at 181.00…volume 55.9 million shares
VIX up .72 at 13.70…
TNX up .05 at 27.41…
TLT up .03 at 104.45...
XLF down -.08 at 21.48 volume 12 million shares, bearish engulfing

AAPL up 10.11 at 556.07…volume 11.4 million shares, three white soldiers candle
FB up .52 at 47.01…volume 23 million shares, divergence bounce to similar high

Technical Commentary: 
QQQ + 0.60%, IWM + 0.05%, SPY -0.07%, DIA -0.08%.

On Friday the QQQ reached its 200% chart target from its Nov 25 breakout.  IWM traded within 23 cents and SPY within 31 cents of their 161.8% Fib target.  Since last week’s bull flag bounce on Thursday, both the QQQ and IWM have moved up six straight trading daysTime to move stops and protect profits in the event of another bull flag pullback.

While the SPX is up for the eighth straight week it longest weekly win streak since Jan 2004 it is hardly it largest eight week gain.  On a weekly basis the SPX is up +6.85% during the past eight weeks.  Since the bull market began in March 2009 there have been ten eight-week rallies, from pullback lows, that have risen on a weekly basis between +8.14% and +28.41%, with six of the ten in double-digit returns ranging between +10.5% and +28.41%.  While this is the longest consecutive weekly rise since 2004, it is not even in the top ten largest percentage gain in eight weeks for the current bull market.

AMZN, NFLX, PCLN and QCOM each made a new high close on Friday and AAPL made its highest close in almost a year.  FB gained and GOOG pulled back slightly.

Social media stocks moved higher on Friday led by moves in YOKU, TWTR, ANGI, FB, Z, and LNKD.

Solar stock SCTY +3.21, +6.54% rose for the third straight day.


Albert Einstein: “Insanity: doing the same thing over and over again expecting different results.”

Remember it is big money that creates and sustains the trend.  As Granville once wrote, “technical analysis is the art of tracking the market, following the footsteps of the ‘smart money’ crowd.  The ‘smart money crowd’ is no mysterious ‘THEY.’  It is simply a collection of people who are reading the market correctly, seeing through the maze, unconfused by this hall of mirrors.”

New short term chart targets:
Chart Targets:
SPY = 182.06, 183.02…Friday’s high 181.75
QQQ = 85.14, 85.77…touched on Friday
IWM = 114.39, 116.10…Friday’s high over 114

Short-term SPY posture is neutral.
Support Levels
ES = 1,797, 1,774
SPY = 179.93, 177.98
QQQ = 84.11
IWM = 111.62


Q3 Earnings Reactions
Positive Reactions – SPLK, MRVL, GMCR, JCP, LZB, JKS, BRCD, TSN, YOKU, SINA, NTAP, SLXP, PCLN, NVDA, GRPN, AWAY, PRU, TPX, TSO, CTSH, FSLR, TRMB, MDVN, NATI, SPR, ONNN, EXPE, CRR, HAR, GTI, ATML, THOR, TRN, FLT, MCHP, ITT, DICSA, ANR, SWKS, FB, CMCSA, GILD, DWA, LVLT, EA, SEE, SPW, TFX, JCI, X, XRAY, XYL, JLL, PBI, ALR, HUN, ACT, DECK, AMZN, MSFT, FLS, AVY, ALXN, WOOF, COG, BA, CLGX, ESI, EQIX, WLL, TSCO, RRD, PHM, RCL, ALXN, APOL, BCR, NDAQ, NSC, WHR, ILMN, NUS, GNTX, LXK, DD, VFC, CMG, GOOG, BHI, GE, KSU, MS, SLB, STI, LVS, VZ, SNDK, NUE, BTU, AXP, KEY, STLD, URI, USB, INTC, JNJ, SCHW, COST, AA

Negative Reactions – ROST, GME, BBY, CPB, JEC, TSL, CRM, CSCO, RAX, MNST, QCOM, SCTY, IPGP, AIG, BRKR, HME, NEM, XLS, Z, NIHD, AVP, WTW, ROVI, GRMN, JDSU, OSK, CNW, ITRI, CTRX, KRFT, GRMN, MYL, DLR, XCO, WU, LNKD, IACI, MSM, INGR, HTS, VRTX, AAPL, PMCS, MWV, SOHU, AGNC, AGCO, PCL, GT, CMI, VSH, ALSN, ROP, EW, MRK,  RYN, RMD, NCR, KBR, FSL, ESRX, EMN, FIO, SIRI, CAM, TKR, SYMC, CVA, CDNS, AKAM, XRX, CRI, ORLY, CAT, NFLX, COH, ZION, WAT, EMC, UTX, TXN, HON, ISRG, GS, UNP, UNH, EBAY, IBM, XLNX, SCSS, SWK, MU, FAST


The Market Forecast Green Line is above 80.   

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Setup Charts of Interest:
 (click image to enlarge)

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49 out of 100 NDX stocks closed higher on Friday.

Leading NDX 100 stocks included: ALXN, GOLD, EBAY, SIRI, BIDU, AAPL, AMZN, VRTX, MSFT, TXN

Lagging NDX stocks included: WDC, MDLZ, MNST, BIIB, SIAL, SYMC, ALTR, WFM, FISV, SRCL

Leading stocks > +2% on Friday included: SCTY, SOHU, YOKU, MCP, RAX, PWRD

Lagging stocks < -2.0% included: LCC

Stocks to Watch on Monday
Holding Above 30 DMA= 60
CTSH, VOD, ADBE, SBUX, MSFT, XRAY, AAPL, HSIC, FISV, INTU, LINTA, PAYX, WDC, CHKP, GOOG, ADP, AMZN, MAT, DISCA, CA, COST, LLTC, TXN, MCHP, MU, EXPE, NFLX, ADSK, ESRX, ALXN, GILD, MYL, PCLN, MDLZ, MNST, SHLD, YHOO,  QCOM, NTAP, SIAL, CELG, BIIB, GRMN, CERN, CMCSA, CTXS, LBTYA, GMCR, BBBY, DTV, STX,  REGN, CHTR, NVDA, WYNN, LMCA, BIDU, KLAC, PCAR, VRTX

Moving Above 30 DMA = 4
ATVI, BRCM, FOSL, SIRI

Moving Below 30 DMA = 1
SRCL

Staying Below 30 DMA
ADI, ISRG, NUAN, INTC, ROST, SYMC, AMGN, DLTR, GOLD, SNDK, SBAC, CHRW, EQIX, FOXA, EBAY, SPLS, AVGO, CSCO, VIAB, AMAT, VIP, WFM, CTRX, KRFT,  VRSK, TSLA, EXPD, FAST, FB, MXIM, AKAM, ORLY, FFIV, ALTR, XLNX


Sixteen Week Intermediate Term Market Trend: Up
5-Day Short Term Market Trend: Up

Stocks Set To Open Higher...Poised For Another Possible Record Day...Markets Close Today At 1:00 EST...

STOCK MARKET CLOSES AT 1:00 EST TODAY…
 
 
BMO – ES + 3.50…and NQ + 13.00…stock futures point to a HIGHER open…
SPY is up .19…
 
XLF is up .04…
Euro is unchanged…
TLT is down .28…
 
 
Follow your rules for entry and exit…adjust stops to protect profits at this time according to your rules...
 
Quoting Up: TSLA, GOLD, DLTR, EBAY, AAPL, BIDU, AMZN, JCP, WLT, LNKD, SCTY, X, YNDX, GLD, QIHU
 
Quoting Down: MAT, CRM

Wednesday, November 27, 2013

QQQ, IWM, SPY, DIA Another New High Close to Give Thanks...AAPL, AMZN, FB, GOOG, NFLX, PCLN, QCOM Rise as SCTY, FSLR, GMCR, X Bounce...

Six of nine sectors moved higher on Wednesday…XLK, XLI and XLY were the three strongest sectors for the second day in a row…while XLE was the weakest sector. 

Breadth was near unchangedadvancers led decliners…1.67 to 1 on the NYSE and 2.38 to 1 on the NASDAQ where advancers led decliners.

Wednesday – unchanged, advancers led
Tuesday – strengthened, advancers led
Monday – weakened, mixed
Friday – weakened slightly, advancers led
Thursday – strengthened, advancers led


SPY up .44 at 181.12…volume 58.4 million shares
VIX up .17 at 12.98…
TNX up .40 at 27.36…
TLT down .18 at 104.42...
XLF up .06 at 21.56 volume 16 million shares, pause

AAPL up 15.56 at 545.96…volume 13 million shares, horizontal breakout
FB up .60 at 46.49…volume 45 million shares, divergence bounce

Technical Commentary: 
IWM + 0.56%, QQQ + 0.70%, SPY + 0.24%, DIA +0.22%.

QQQ and IWM led Wednesday’s rally as a four index ETFs hit a new closing high again.  New highs indicate that big money is still expecting this bull market to move higher as money continues rotating into the growth segment of the market.  Volume did  lighten as expected going into Wednesday afternoon ahead of the Thanksgiving Holiday on Thursday.  Friday is a half day of trading.

AAPL, AMZN, FB, GOOG, NFLX, PCLN and QCOM each had strong gains for the second straight day on Wednesday for the first time in many trading sessions.  All but AAPL and FB made a new high close.  AAPL is nearing a one year high.

Chart Signals is grateful for all of the amazing blessings we enjoy in America and we hope that you and your family will have a great and safe Thanksgiving Holiday.

Social media stocks continued higher led by moves in Z, ANGI, LNKD, TWTR, YOKU, SINA and FB.

Solar stocks SCTY and FSLR bounced after recent pullbacks.

MU +0.86, +4.23% hit another new high giving long traders nice gains on recent trades. 


Albert Einstein: “Insanity: doing the same thing over and over again expecting different results.”

Remember it is big money that creates and sustains the trend.  As Granville once wrote, “technical analysis is the art of tracking the market, following the footsteps of the ‘smart money’ crowd.  The ‘smart money crowd’ is no mysterious ‘THEY.’  It is simply a collection of people who are reading the market correctly, seeing through the maze, unconfused by this hall of mirrors.”

New short term chart targets:
Chart Targets:
SPY = 182.06, 183.02
QQQ = 85.14, 85.77
IWM = 112.83, 114.39

Short-term SPY posture is up.
Support Levels
ES = 1,774, 1,736
SPY = 177.64, 174.76
QQQ = 83.48, 82.77, 81.37
IWM = 107.93

Q3 Earnings Reactions
Positive Reactions – SPLK, MRVL, GMCR, JCP, LZB, JKS, BRCD, TSN, YOKU, SINA, NTAP, SLXP, PCLN, NVDA, GRPN, AWAY, PRU, TPX, TSO, CTSH, FSLR, TRMB, MDVN, NATI, SPR, ONNN, EXPE, CRR, HAR, GTI, ATML, THOR, TRN, FLT, MCHP, ITT, DICSA, ANR, SWKS, FB, CMCSA, GILD, DWA, LVLT, EA, SEE, SPW, TFX, JCI, X, XRAY, XYL, JLL, PBI, ALR, HUN, ACT, DECK, AMZN, MSFT, FLS, AVY, ALXN, WOOF, COG, BA, CLGX, ESI, EQIX, WLL, TSCO, RRD, PHM, RCL, ALXN, APOL, BCR, NDAQ, NSC, WHR, ILMN, NUS, GNTX, LXK, DD, VFC, CMG, GOOG, BHI, GE, KSU, MS, SLB, STI, LVS, VZ, SNDK, NUE, BTU, AXP, KEY, STLD, URI, USB, INTC, JNJ, SCHW, COST, AA

Negative Reactions – ROST, GME, BBY, CPB, JEC, TSL, CRM, CSCO, RAX, MNST, QCOM, SCTY, IPGP, AIG, BRKR, HME, NEM, XLS, Z, NIHD, AVP, WTW, ROVI, GRMN, JDSU, OSK, CNW, ITRI, CTRX, KRFT, GRMN, MYL, DLR, XCO, WU, LNKD, IACI, MSM, INGR, HTS, VRTX, AAPL, PMCS, MWV, SOHU, AGNC, AGCO, PCL, GT, CMI, VSH, ALSN, ROP, EW, MRK,  RYN, RMD, NCR, KBR, FSL, ESRX, EMN, FIO, SIRI, CAM, TKR, SYMC, CVA, CDNS, AKAM, XRX, CRI, ORLY, CAT, NFLX, COH, ZION, WAT, EMC, UTX, TXN, HON, ISRG, GS, UNP, UNH, EBAY, IBM, XLNX, SCSS, SWK, MU, FAST


The Market Forecast Green Line is above 80.   

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Check out these Charts:
 (click image to enlarge)

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69 out of 100 NDX stocks closed higher on Wednesday and one was unchanged.

Leading NDX 100 stocks included: TSLA, GMCR, MU, AAPL, NUAN, NFLX, CHKP, MNST, WDC, BIIB

Lagging NDX stocks included: ADI, SHLD, EQIX, CELG, AMAT, CHTR, MYL, REGN, KLAC, DLTR

Leading stocks > +2% on Wednesday included: SCTY, JCP, NTES, XONE, DDD

Lagging stocks < -2.0% included: 

Stocks to Watch on Friday
Holding Above 30 DMA= 60
CTSH, VOD, ADBE, SBUX, MSFT, XRAY, AAPL, HSIC, FISV, INTU, LINTA, PAYX, WDC, CHKP, GOOG, ADP, AMZN, MAT, DISCA, CA, COST, LLTC, TXN, MCHP, MU, EXPE, NFLX, ADSK, ESRX, ALXN, GILD, MYL, PCLN, MDLZ, MNST, SHLD, YHOO,  QCOM, NTAP, SRCL, SIAL, CELG, BIIB, GRMN, CERN, CMCSA, CTXS, LBTYA, GMCR, BBBY, DTV, STX,  REGN, CHTR, NVDA, WYNN, LMCA, BIDU, KLAC, PCAR

Moving Above 30 DMA = 1
VRTX

Moving Below 30 DMA = 2
ADI, FOSL

Staying Below 30 DMA
ATVI, ISRG, NUAN, INTC, ROST, SYMC, AMGN, DLTR, GOLD, SNDK, SBAC, CHRW, BRCM,  SIRI, EQIX, FOXA, EBAY, SPLS, AVGO, CSCO, VIAB, AMAT, VIP, WFM, CTRX, KRFT,  VRSK, TSLA, EXPD, FAST, FB, MXIM, AKAM, ORLY, FFIV, ALTR, XLNX


Sixteen Week Intermediate Term Market Trend: Up
5-Day Short Term Market Trend: Up

Stock Futures Slightly Rise Ahead Of Open...Jobless Claims Decline...

BMO – ES + 1.00…and NQ + 4.25…stock futures point to a flat open…
SPY is up .21…
 
XLF is down .04…
Euro is up 32 pips…
TLT is down .09…
 
 
Follow your rules for entry and exit…adjust stops to protect profits at this time according to your rules...
 
Quoting Up: GOLD, AKAM, NUAN, TSLA, VOD, BIDU, GMCR, TSL, SCTY, SPLK, QIHU, GLD
 
Quoting Down: TXN, SSYS, TIF

Tuesday, November 26, 2013

IWM Breaks Out to All-time High Close...QQQ Follows...AAPL, AMZN, BIDU, FB, GOOG, NFLX, PCLN, QCOM Gain...YELP, Z, P, FB Rise...

Three of nine sectors moved higher on Tuesday…XLY, XLK and XLI were the strongest sectors…while XLU was the weakest sector. 

Breadth strengthened on the NASDAQ…advancers led decliners…1.29 to 1 on the NYSE and 1.79 to 1 on the NASDAQ where advancers led decliners.

Tuesday – strengthened, advancers led
Monday – weakened, mixed
Friday – weakened slightly, advancers led
Thursday – strengthened, advancers led
Wednesday – strengthened slightly, decliners led


SPY up .05 at 180.68…volume 86.9 million shares
VIX up .02 at 12.81…
TNX down .45 at 26.96…
TLT up .39 at 104.60...
XLF down .02 at 21.50 volume 27.8 million shares, pause

AAPL up 9.66 at 533.40…volume 14.3 million shares, diagonal breakout, horizontal breakout setup
FB up 1.07 at 45.89…volume 81.9 million shares, divergence bounce

Technical Commentary: 
IWM + 0.74%, QQQ + 0.52%, SPY + 0.03%, DIA – 0.07%.

IWM and QQQ led Tuesday’s rally another sign big money is still expect this bull market to move higher with money rotating into the growth segment of the market.  SPY and DIA were near unchanged.  Look for volume to lighten going into Wednesday afternoon ahead of the Thanksgiving Holiday on Thursday.  Friday is a half day of trading.

AAPL, AMZN, BIDU, FB, GOOG, NFLX, PCLN and QCOM each had strong gains on Tuesday for the first time in many trading sessions.

Chart Signals is grateful for all of the amazing blessings we enjoy in America and we hope that you and your family will have a great and safe Thanksgiving Holiday.

Positive housing numbers this morning sent XHB and home building stocks LEN, DHI, PHM higher.  Another sign that the economy continues to move forward.

(click image to enlarge)

Social media stocks bounced led by moves in YELP, Z, ANGI, YNDX, P, LNKD, TWTR, YOKU, SINA and FB.

(click image to enlarge)

Solar stocks JKS, SPWR and CSIQ started to heat on Tuesday while FSLR and TSL recovered from early morning selloffs.

MU +0.45, +2.27% hit a new high following Monday’s breakout test.


Are you reading the market correctly?

Do you keep listening to someone that is not reading the market correctly?

Albert Einstein: “Insanity: doing the same thing over and over again expecting different results.”

Remember it is big money that creates and sustains the trend.  As Granville once wrote, “technical analysis is the art of tracking the market, following the footsteps of the ‘smart money’ crowd.  The ‘smart money crowd’ is no mysterious ‘THEY.’  It is simply a collection of people who are reading the market correctly, seeing through the maze, unconfused by this hall of mirrors.”

With Friday’s breakout new short term chart targets are established.

Chart Targets:
SPY = 182.06, 183.02
QQQ = 85.14, 85.77
IWM = 112.83, 114.39

Short-term SPY posture is up.
Support Levels
ES = 1,774, 1,736
SPY = 177.64, 174.76
QQQ = 83.48, 82.77, 81.37
IWM = 107.93


Q3 Earnings Reactions
Positive Reactions – SPLK, MRVL, GMCR, JCP, LZB, JKS, BRCD, TSN, YOKU, SINA, NTAP, SLXP, PCLN, NVDA, GRPN, AWAY, PRU, TPX, TSO, CTSH, FSLR, TRMB, MDVN, NATI, SPR, ONNN, EXPE, CRR, HAR, GTI, ATML, THOR, TRN, FLT, MCHP, ITT, DICSA, ANR, SWKS, FB, CMCSA, GILD, DWA, LVLT, EA, SEE, SPW, TFX, JCI, X, XRAY, XYL, JLL, PBI, ALR, HUN, ACT, DECK, AMZN, MSFT, FLS, AVY, ALXN, WOOF, COG, BA, CLGX, ESI, EQIX, WLL, TSCO, RRD, PHM, RCL, ALXN, APOL, BCR, NDAQ, NSC, WHR, ILMN, NUS, GNTX, LXK, DD, VFC, CMG, GOOG, BHI, GE, KSU, MS, SLB, STI, LVS, VZ, SNDK, NUE, BTU, AXP, KEY, STLD, URI, USB, INTC, JNJ, SCHW, COST, AA

Negative Reactions – ROST, GME, BBY, CPB, JEC, TSL, CRM, CSCO, RAX, MNST, QCOM, SCTY, IPGP, AIG, BRKR, HME, NEM, XLS, Z, NIHD, AVP, WTW, ROVI, GRMN, JDSU, OSK, CNW, ITRI, CTRX, KRFT, GRMN, MYL, DLR, XCO, WU, LNKD, IACI, MSM, INGR, HTS, VRTX, AAPL, PMCS, MWV, SOHU, AGNC, AGCO, PCL, GT, CMI, VSH, ALSN, ROP, EW, MRK,  RYN, RMD, NCR, KBR, FSL, ESRX, EMN, FIO, SIRI, CAM, TKR, SYMC, CVA, CDNS, AKAM, XRX, CRI, ORLY, CAT, NFLX, COH, ZION, WAT, EMC, UTX, TXN, HON, ISRG, GS, UNP, UNH, EBAY, IBM, XLNX, SCSS, SWK, MU, FAST


The Market Forecast Green Line is above 80.   

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Setups 
H Breakout: AAPL, BBBY, MAT, MNST, TXN, XLNX, BX, DNKN, GS, V
Diagonal Breakout: AMAT, WYNN, CIEN, CNX, TLT, CSIQ
Bull Flag: ADSK, FSLR, A, CBI, CME, GMCR, ILMN, JKS, P, VIPS, CBOE, ICE, NDAQ
Potential Bullish Divergence: TRLA
Gap Up:
Gap Down:
Bear Flag: CREE,
At Support: SPWR, TSL
C- Pattern:

Moves
New Highs: AMZN, GOOG, MYL, PCLN, QCOM, BAC, ABC, AXP, DECK, DIS, LBTYA, PFG, RTN, TPX
Gap Up: NVDA, TIF
Gap Down: NUAN,
H Breakout: DTV, ESRX, YNDX, DUST, NKE, QQQ, IWM, QCOM
Breakout Test: C, SPY
Bounce: ANGI, LNKD, Z, BA, CSIQ, CTSH, LNG, SPLK, SPWR, BIDU, LNKD
MACD Divergence Bounce: YELP, CTRP, FB, SINA, SNDK
Bear Flag:  
Support Break:
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64 out of 100 NDX stocks closed higher on Tuesday and one was unchanged.

Leading NDX 100 stocks included: BIDU, MNST, FB, AVGO, MY, LMCA, AAPL, SNDK, LBTYA

Lagging NDX stocks included: NUAN, GMCR, ISRG, BIIB, SHLD, ATVI, GOLD, SYMC, SPLS

Leading stocks > +2% on Tuesday included: TIF, YELP, QIHU, Z, ANGI, SPWR, YNDX, P, LNKD, SPLK, TWTR, YOKU, SINA, SCSS

Lagging stocks < -2.0% included: ANR, PWRD, WLT, TSL

Stocks to Watch on Wednesday
Holding Above 30 DMA= 58
CTSH, VOD, ADBE, SBUX, MSFT, XRAY, AAPL, HSIC, FISV, INTU, LINTA, PAYX, WDC, CHKP, GOOG, ADP, AMZN, MAT, DISCA, CA, COST, LLTC, TXN, ADI, MCHP, MU, EXPE, NFLX, ADSK, ESRX, ALXN, GILD, MYL, PCLN, MDLZ, MNST, SHLD, YHOO,  QCOM, NTAP, SRCL, SIAL, CELG, BIIB, GRMN, CERN, CMCSA, CTXS, LBTYA, GMCR, BBBY, DTV, STX,  REGN, CHTR, NVDA, WYNN, LMCA

Moving Above 30 DMA = 4
BIDU, FOSL, KLAC, PCAR

Moving Below 30 DMA = 2
ATVI, ISRG

Staying Below 30 DMA
NUAN, INTC, ROST, SYMC, AMGN, DLTR, GOLD, SNDK, SBAC, CHRW, BRCM,  SIRI, EQIX, FOXA, EBAY, SPLS, AVGO, CSCO, VIAB, AMAT, VIP, WFM, CTRX, KRFT,  VRSK, TSLA, EXPD, FAST, VRTX, FB, MXIM, AKAM, ORLY, FFIV, ALTR, XLNX


Sixteen Week Intermediate Term Market Trend: Up
3-Day Short Term Market Trend: Up