Five
of nine
sectors moved higher on Friday…XLI, XLK and XLF were the strongest sectors…XLB
was the weakest sector.
Breadth strengthened as advancers
led decliners…3.11 to
1 on the NYSE and 2.70 to
1 on the NASDAQ.
Friday – strengthened, advancers led
Thursday – weakened,
decliners led
Wednesday –
strengthened, advancers led
Tuesday – weakened,
decliners led
Monday – strengthened,
advancers led
SPY up .07 at 181.56 volume 196.9 million shares
VIX down -.36 at 13.79…
TNX down -.38 at 28.87…
TLT up 1.58 at 104.25...
XLF up .02 at 21.61 volume
65.9 million shares
AAPL up 4.56 at 549.02 volume 15.6 million shares
FB up .07 at 55.12…volume 239.6 million shares
Technical
Commentary:
IWM +1.69%,
QQQ +1.02%, DIA
+ 0.08%, SPY +0.04%.
SPY, DIA, and IWM closed at new all-time highs on
Friday and the QQQ at a new high close.
The IWM which has been lagging the other indexes played catch-up
as volume increased as RUT gainers led decliners 6.51 to 1 and buying
dollar volume led selling dollar volume 9.93 to 1.
GDP grew
at a revised 4.1% in the third quarter, its strongest rate in two years.
On Monday morning Dec
23 before
the open DISH, ILMN, NXP, TRIP and TSCO will be added to the NDX 100
while FOSL, MCHP, NUAN, SHLD and XRAY will be deleted. Make adjustments to your NDX 100 watch list.
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, 87.79…
IWM = 114.39, 117.15…
Q3 Earnings Reactions
Positive Reactions – BBRY,
RHT, WAG, ORCL, 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 – NKE,
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 and closed above 80.
____________________
Setups
H Breakout: ATI,
C, CNX, CRM, CSIQ, IBM, JNPR, NTES, SCSS, SFUN, SINA, SOHU, STI, SWI, TPX, TSL,
VECO, XONE, YNDX,
Diagonal Breakout: AAL,
BAC, NKE, P, SPWR, UAL, YOKU,
Bull Flag: A, BX, LVS, MFRM, SWKS,
Potential Bullish
Divergence:
Gap Up:
Gap Down:
Bear Flag: ANR, CLF,
DNKN, FSLR, GLD, KKD, TRIP,
At Support: FIVE,
GOGO,
C- Pattern:
Moves
New Highs: DDD, GS, RCL, SPY, QQQ, IWM, DIA, TWTR, UNG,
VRSN,
Gap Up:
Gap Down:
H Breakout: ANGI, BBRY, CMG, CREE, DDD, FAS, SSYS, Z,
Diagonal Breakout: ALK, CMG, RAX, SPLK, XONE
Breakout Test: GLW, SCTY, X,
Bounce: YELP,
MACD Divergence Bounce: ESI,
JCP,
Bear Flag:
Support Break: TBT,
______________________
80 out of 100 NDX
stocks closed higher and one was unchanged on Friday.
Leading NDX 100 stocks included: STX, CTXS, FFIV,
REGN, CTRX, VRTX, SIRI, MU, ADSK, AKAM
Lagging NDX stocks included: FAST, GOLD, SYMC,
SRCL, BRCM, INTU, NTAP, INTC, ORLY, NFLX
Leading stocks > +2% on Friday
included: BBRY, ANGI, ESI, JCP, TWTR, ALK, DDD, YELP, CMG, RAX, XONE,
CREE, MCP, JNPR, SSYS, KKD, RCL, CIEN, FAS
Lagging stocks < -2.0% included: GOGO, WLT, TBT, TSL, CLF, ANR, X, ATI
Stocks to Watch on Monday
Holding Above 30 DMA= 67
CTSH,
AAPL, FISV, INTU, WDC, GOOG, AMZN, ILMN, LLTC, MU, EXPE, NFLX, ADSK, ESRX,
ALXN, MDLZ, PCLN, MNST, YHOO, DISH, QCOM, SIAL, CELG, BIIB, CMCSA, GMCR,
LBTYA, DTV, STX, BIDU, BRCM, FB, WYNN, AVGO, EQIX, INTC, TSLA, ORLY, ADBE,
AKAM, EBAY, VIAB, VRSK, CA, CHKP, FFIV, LINTA, PCAR, TSCO, VOD, SNDK, VRTX,
XLNX, ADI, ATVI, CTRX, CTXS, DISCA, FOXA, GILD, KRFT, NXP, PAYX, WFM
Moving Above 30 DMA =
9
AMAT, AMGN, EXPD, KLAC, MAT, NVDA, SPLS, TXN, VIP
Moving Below 30 DMA = 5
BBBY, FAST, MYL, NTAP, SYMC
Staying Below 30 DMA
CHTR, HSIC, GRMN, MSFT, CERN, SRCL, TRIP, COST, LMCA, SBUX, REGN,
SIRI, ISRG, ROST, DLTR, GOLD, SBAC, CHRW, CSCO, MXIM, ALTR
Sixteen Week Intermediate
Term Market Trend: Up
5-Day Short Term Market
Trend: Up
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