Thursday, January 2, 2014

Stocks Retreat On First Trading Session Of 2014...CSIQ Bounces Up 14.65%...

All nine sectors moved lower on Thursday…XLY, XLF and XLV were the strongest sectors…while XLU was the weakest sector. 
 
Breadth weakened as decliners led advancers…2.02 to 1 on the NYSE and 1.78 to 1 on the NASDAQ.
 
Thursday – weakened, decliners led
Wednesday – New Year’s
Tuesday – strengthened, advancers led
Monday – weakened, decliners led
Friday – weakened, mixed
 
 
SPY down 1.77 at 182.92 volume 119.5 million shares, slightly higher volume
VIX up .51 at 14.23…
TNX down .41 at 29.85…
TLT up .31 at 102.17...
XLF down .12 at 21.74 volume 35.4 million shares
 
AAPL down 7.89 at 553.13 volume 8.3 million shares
FB up .06 at 54.71…volume 43.2 million shares
 
Technical Commentary: 
QQQ – 0.78%, DIA – 0.82%, SPY – 0.96%, IWM – 1.08%.
 
The first trading session of 2014 saw stocks close lower with the S&P 500 down 16.38 and the DJIA closing lower by 135.31 points fueled by concerns of China’s manufacturing growth in spite of the upbeat weekly jobless claims showing a decline of 2,000 by the Labor Dept.
 
CSIQ had a large bounce today breaking horizontal resistance to end the session at an all-time high…up 4.37 or 14.65% on 7.9 million shares of volume.
 
MCP continued its uptrend gapping up today .67 or 11.92% on increased volume of 35.9 million shares and closed the session at 6.29.  TSL had a bounce and broke horizontal resistance up 1.31 or 9.58% on 7.9 million shares.
 
 
2013 was a great year in the broad indexes led by sector gains in XLY, XLV, XLI and XLF and many individual stocks.  Gains included:
 
SPX    +29.6%
NDX   +34.99%
RUT   +37.00%
 
XLY    +40.87%
XLV    +39.02%
XLI      +37.89%
XLF    +33.37%
 
NFLX +297.63%
MU      +243.06%
FB       +105.30%
GILD   +104.47%
PCLN +87.37%
BIDU  +77.37%
AMZN +59.02%
GOOG+58.43%
 
 
The trend continues higher for the overall market with basic materials, industrial, energy, technology and financial sectors leading the way.  Trade with the trend, move your protective stops. Continue to follow your rules.
 
The economic outlook continues to strengthen heading into 2014.  While the stock market does not go straight up and instead moves in a zig zag manner of higher highs and pull backs to higher lows, currently the weight of the technical evidence at the end of 2013 suggests trend continuation into 2014.
 
 
Chart Signals hopes you have taken the time to evaluate your 2013 trading performance and that you have NOW identified specific improvements that you can make for 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 = 183.37, 185.02
QQQ = 87.79, 88.74
IWM = 117.15, 119.00
 
 
Q3 Earnings Reactions
Positive Reactions – LEN, 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 – 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.
 
____________________
 
Setups 
H Breakout: AMGN, BIDU, CELG, CHTR, GILD, BBRY, SCTY, SINA, SPLK, XONE, YOKU,
Diagonal Breakout: BIIB, MU,
Bull Flag: AAPL, ESRX, INTU, MAT, MNST, PAYX, SIAL, STX, TSLA, YHOO, ATI,
Potential Bullish Divergence: 
Gap Up:
Gap Down:
Bear Flag: 
At Support: SWKS,  
C- Pattern:
 
Moves
New Highs: FOXA, WYNN, LVS, VRSN,
Gap Up: GLD, MCP,        
Gap Down: ADI, ADP, GRMN, TXN,     
H Breakout: BAC, CSIQ, SPWR, TSL,  
Diagonal Breakout: GOLD,
Breakout Test: 
Bounce: FSLR,   
MACD Divergence Bounce: 
Bear Flag: 
Support Break:  
 
______________________
 
 
15 out of 100 NDX stocks closed higher on Thursday.
 
Leading NDX 100 stocks included: GOLD, WYNN, CELG, AMGN, ATVI, FOXA, BIDU
 
Lagging NDX stocks included: ADI, TRIP, GRMN, BRCM, FFIV, ADSK, CTSH, YHOO, MYL, SPLS, TXN
 
Leading stocks > +2% on Thursday included: CSIQ, MCP, TSL, SPWR, TWTR, FSLR, SCTY, YOKU, SPLK, XONE, BAC, BBRY, X, MFRM
 
Lagging stocks < -2.0% included: ANGI, DRYS, LNKD, SWKS, RAX, JCP
 
Stocks to Watch on Friday
Holding Above 30 DMA= 81
CTSH, AAPL, FISV, INTU, WDC, GOOG, AMZN, ILMN, LLTC, EXPE, ADSK, ESRX, ALXN, MDLZ, MNST, YHOO, QCOM, DISH, SIAL, CELG, BIIB, CMCSA, LBTYA, GMCR, DTV, STX, BIDU, BRCM, WYNN, FB, AVGO, INTC, EQIX, TSLA, ORLY, ADBE, AKAM, EBAY, VIAB, CA, CHKP, FFIV, LINTA, PCAR, VOD, TSCO, SNDK, VRTX, XLNX, ADP, ATVI, CTXS, GILD, PAYX, ADI, CTRX, DISCA, KRFT, FOXA, NXP, AMAT, EXPD, KLAC, MAT, NVDA, SPLS, TXN, VIP, ALTR, BBBY, CSCO, SYMC, SBAC, CHTR, AMGN, CHRW, ISRG, DLTR, WFM, MU, ROST
 
Moving Above 30 DMA = 0
 
Moving Below 30 DMA = 7
FAST, HSIC, MYL, NTAP, ADI, VRSK, NFLX
 
Staying Below 30 DMA
PCLN, GRMN, MSFT, CERN, SRCL, TRIP, COST, SBUX, LMCA, SIRI, REGN, GOLD, MXIM
 
Sixteen Week Intermediate Term Market Trend: Up
3-Day Short Term Market Trend: Neutral
 

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