Thursday, December 19, 2013

DJIA Makes Another All-Time High...S&P Does Not Follow...Weekly Job Claims Rise...

Four out of nine sectors moved higher on Thursday…XLE, XLK and XLB were the strongest sectors…while XLU was the weakest sector. 
Breadth weakened as decliners led advancers…1.34 to 1 on the NYSE and 1.65 to 1 on the NASDAQ.
Thursday – weakened, decliners led
Wednesday – strengthened, advancers led
Tuesday – weakened, decliners led
Monday – strengthened, advancers led
Friday – strengthened, advancers led
SPY down .21 at 181.49 volume 136.2 million shares
VIX up .35 at 14.15…
TNX up .40 at 29.25…
TLT down .10 at 102.67...
XLF down .03 at 21.58 volume 45.6million shares
AAPL down 6.31 at 544.46 volume 11.4 million shares
FB down .52 at 55.05…volume 89.7 million shares
Technical Commentary: 
DIA + 0.07%, SPY – 0.12%, QQQ – 0.28%, IWM – 0.74%.
The DJIA again sets a record all-time high on Thursday gaining 11.11 points to close at 16,179.08.  As the day progressed, investors for the most part showed little concern at the disappointing weekly jobless claims which rose to their highest level since March of the year.  Also of little concern was the report of existing home sales which slumped for the third straight month…down 4.3%.  The S&P 500 which closed at a high yesterday did not reach another high today…closing down 1.05 at 1,809.60.
SCTY broke above horizontal resistance on Thursday closing up 4.11 or 7.79% on 7.3 million shares…and is close to breaking another horizontal resistance of mid-November.
X gapped up and made a new all-time high breaking above horizontal resistance on 11 million shares gaining 1.42 or 5.22%.  IACI had a large gap up and made an all-time high today closing up 8.40 or 13.98% on higher than normal volume of 8.4 million shares.
Trading volume shifted from the Dec Z3 contracts to the Mar H4 on Friday.
Finish 2013 strong by following your rules and begin to look for positive changes to make in 2014.
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 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.”
Short-term up trend chart targets:
Chart Targets:
SPY = 182.06, 183.02
QQQ = 86.69, 85.77…exceeded on Friday
IWM = 113.10, 114.39
Q3 Earnings Reactions
Positive Reactions – AVGO, MFRM, 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 pointed up.
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Setups 
H Breakout: AKAM, AMZN, ATVI, BRCM, EBAY, GOOG, INTC, PCLN, AXP, ATI, BAC, CNX, DDD, SFUN, SOHU, SSYS, TSL,
Diagonal Breakout: FFIV, SNDK, CRM, FSLR, P, SPWR,
Bull Flag: AAPL,
Potential Bullish Divergence: 
Gap Up:
Gap Down:
Bear Flag: 
At Support: 
C- Pattern:
Moves
New Highs: CTSH, GS, RCL, V,
Gap Up: RCL, X,   
Gap Down: GLD,    
H Breakout: CMCSA, WFM, GLW, SCTY, UNG, X,    
Diagonal Breakout: CLF,       
Breakout Test: 
Bounce: CELG, ANR,
MACD Divergence Bounce: 
Bear Flag:  
Support Break:   
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35 out of 100 NDX stocks closed higher and two were unchanged on Thursday.
Leading NDX 100 stocks included: PAYX, SHLD, ATVI, WFM, VRTX, VOD, MNST, ALXN, SBAC, FOXA, NTAP, LBTYA
Lagging NDX stocks included: TSLA, AVGO, XLNX, CERN, ALTR, MXIM, LMCA, ADBE, TXN, FOSL, LLTC
Leading stocks > +2% on Thursday included: SCTY
Lagging stocks < -2.0% included: RAX, JCP, FIVE, GLD, F, KKD
Stocks to Watch on Friday
Holding Above 30 DMA= 67
CTSH, AAPL, FISV, INTU, WDC, GOOG, AMZN, LLTC, MU, EXPE, NFLX, ADSK, ESRX, ALXN, PCLN, MDLZ, MNST, YHOO, QCOM, SIAL, CELG, BIIB, CMCSA, LBTYA, GMCR, DTV, STX, BIDU, BRCM, FB, WYNN, AVGO, INTC, EQIX, TSLA, ORLY, ADBE, AKAM, EBAY, VIAB, VRSK, CA, CHKP, FFIV, LINTA, PCAR, VOD, FAST, SNDK, SYMC, VRTX, XLNX, ADP, ATVI, BBBY, CTXS, GILD, MYL, PAYX, WFM, XRAY, ADI CTRX, DISCA, DRFT, FOXA
Moving Above 30 DMA = 2
NTAP, NUAN
Moving Below 30 DMA = 6
EXPD, HSIC, SPLS, TXN, CHTR, VIP
Staying Below 30 DMA
MAT, GRMN, MSFT, MCHP, NVDA, CERN, SRCL, COST, KLAC, SBUX, LMCA, SHLD, SIRI, REGN, FOSL, ISRG, ROST, AMGN, DLTR, GOLD, SBAC, CHRW, CSCO, AMAT, MXIM, ALTR
Sixteen Week Intermediate Term Market Trend: Up
3-Day Short Term Market Trend: Up

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