Thursday, June 5, 2014

SPY, DIA, Sectors XLB, XLE, XLF, XLI, XLK, XLP, XLV All-time New High Close...CIEN Gaps +18% on Positive EPS...

All nine sectors moved higher on Thursday…XLI, XLF and XLU were the strongest sectors…XLV was the weakest. 

Sector Posture 
Positive trend: XLB, XLE, XLF, XLI, XLK, XLP, XLV, XLY, XLU
Neutral trend near resistance:
Neutral trend near support:

XLF is very near breaking out and moving from neutral to positive.

Breadth strengthened…as advancers led decliners 3.59 to 1 on the NYSE and 3.67 to 1 on the NASDAQ.

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


SPY up 1.26 at 194.45 on 92.1 million shares, above average volume
VIX down .40 at 11.68…
TNX down .22 at 25.84…
TLT up .05 at 111.59...
XLF up .21 at 22.65 on 31 million shares

AAPL up 2.53 at 647.35 on 10.8 million shares
FB down .15 at 63.19…on 47.3 million shares, below average volume


Technical Commentary:
IWM + 2.10%, QQQ + 0.84%, SPY + 0.65%, DIA + 0.60%.

SPY, DIA new-all time high and QQQ new bull market high.  XLB, XLE, XLF, XLI, XLK, XLP and XLV new all-time closing high with all nine sectors positive.

CIEN +3.49, +18.38% on positive earnings reaction.


Trade with the trend of the chart you are trading and continue to move your protective stops.  Continue to follow your rules.


Short-term up trend Chart Targets:
SPY = 191.49, 192.85, 194.36…
QQQ = 91.36, 93.39…
IWM = 114.55, 115.02…

Support Levels
SPY = 190.42, 188.54, 188.01…
QQQ = 88.61, 87.85, 86.58…
IWM = 113.03, 112.02, 111.04…


Q1 Earnings Reactions
Positive Reactions – BIG, PANW, GLNG, QIHU, AAPL, ADSK, AET, ALL, ALXN, AMAT, ANGI, ANR, APA, ATVI, BA, BHI, BIDU, BTU, BWLD, BX, C, CHRW, CNX, COG, CTRP, CTRX, CTXS,  DAL, DAVE, DDS, DECK, DHI, DNB, DO, DTV, DV, EA, ENR, ETFC, FCX, FISV, FNMA, FOXA, GE, GILD, GMCR, GME, GOGO, GRMN, HAL, HAS, HOG, HPQ, HUM, IBKR, INTC, JCP, JNJ, KO, LPNT, LRCX, LVLT, MA, MAR, MGM, MNST, MRK, MS, NOK, NTAP,NXPI, PBI, PCLN, POT, PRU, RF, S, SCHW, SCTY, SNDK, SPWR, STI, SWK, SWKS, TKR, TMUS, TPX, TRIP, TRV, TSL, TSO, TWX, UNP, URI, UTHR, VRSK, WFC, WLP, WYNN, XRX, YELP, YHOO, Z

Negative Reactions – SPLK, ACI, ADM,  AEIS, AIG, AKAM, AKS, ALTR, AMGN, AMZN, ARWR, ATI, BAC, BBRY, BIIB, BMY, BRCM, CAR, CBOE, CELG, CHKP, CLF, CLX, COF, CREE, CTSH, DDD, DIS, DISCA, DISH, DKS, DVA, EBAY, ESI, ESRX, EXPE, F, FAST, FEYE, FFIV, FXCM, GOOG, GRPN, IBM, JAZZ, JCI, JDSU, JPM, K,  KLAC, KMB, KRFT, LLTC, LLY, LNKD, LVS, LXK, MCP, MMM, MOS, MTW, MU, MXIM, NKE,NSC, NUE, NVDA, P, PCAR, PFE, PG, PNRA, PRGO, QCOM, REGN, SAVE, SEE, SFUN, SIRI, SOHU, SPLS, SSYS, STLD, STT, STX, SUNE, SWI, T, TJX, TSLA, TSN, TWTR, UA, UBNT, UNH, UPS, V, VECO, VIAB, VMW, VRTX, VZ, WDC, WFM, XLNX, YNDX, YY, ZION, ZNGA,

Reversal in progress – AEIS, AMGN, BRCM, CHKP, CTSH, EXPE, FEYE, GRPN, KLAC, KMB, LLTC, LXK, MOS, NUE, PCAR, STLD, WDC, ZION

Reversal of Initial Reaction – ADM, AIG, AKAM, AKS, ARWR, ATI, BAC, BMY, BRCM, CAR, CELG, COF, DDD, DIS, DISCA, DVA, ESRX, F, FFIV, IBM, JCI, K, KRFT, LLY, LNKD, LVS, MMM, MU, NKE, NSC, NUE, NVDA, PG, PRGO, QCOM, SAVE, SIRI, SOHU, STX, SUNE, T, UPS, VIAB, VMW, VZ, YNDX, YY, ANGI, ANR, BTU, COG, DECK, ETFC, RF, SCHW, SWK, INTC, YHOO


The SPY Market Forecast green line is in the upper zone at 98.

____________________

Setups
Horizontal Breakout: BX, GLW, GOGO, NKE, PANW, RAX, RCL, SPWR, JDSU, SCHW, SWI, TWTR, ZION, ADBE, AKAM, CTSH, ESRX, FFIV, GRMN, MSFT, WDC, YHOO,  
Diagonal Breakout: ATI, CREE, GME, P, SCSS, IBM, LVS, SINA,     
Bull Flag:  
Potential Bullish Divergence:    
Gap Up:    
Gap Down:
Bear Flag: 
At Support:     
C- Pattern

Moves
New Highs: SPY, AAPL, SNDK,  
Gap Up: CIEN, COST,   
Gap Down:  
H Breakout: C, FAS, IWM, MS, STI, UNG, VRSN, BAC, MTW, UBNT, AMZN, CMCSA, COST, WFM,   
Diagonal Breakout: SCHW, X,   
Breakout Test:
Bull Flag Bounce:   
Bounce: JASO, JCP, QIHU, V, ANR, GLD, SINA, SSYS, SWI, ADBE, BIDU, GOOG, TSLA,
MACD Divergence Bounce: SCTY, SPLK, WLT,   
Bear Flag:    
Support Break:        

______________________

79 of 100 NDX stocks closed higher on Thursday.


Leading NDX 100 stocks included: AMZN, WFM, TRIP, WDC, MXIM, SPLS, MSFT, SNDK, DISCA, ADBE, ILMN

Lagging NDX stocks included: WYNN, AMGN, REGN

Leading stocks > +2% on Thursday included: CIEN, JD, P, FAS, BAX, PANW, IWM, SPLK, UBNT, MTW, ANR, SCTY, WLT, ESI, TWTR, JDSU, MFRM

Lagging stocks < -2.0% included: TSL, SFUN, FSLR,

Stocks to Watch on Friday
Holding Above 30 DMA= 88
MAR, CHRW, EXPD, SIAL, MDLZ,MU, SNDK, GILD, CHTR, AAPL, CTXS, DTV, ADP, CELG, FISV, EQIX, NXPI, AVGO, LBTYA, SBAC,QCOM, ATVI, KRFT, FOXA, GMCR, ALXN, SYMC, CTRX, ILMN, ADSK, NFLX, CSCO, ADBE, AMAT, HSIC, INTU, MSFT, MXIM, BIDU, CMCSA, FFIV, TRIP, BRCM, GOOG, SIRI, AKAM, AMGN, BIIB, ESRX, EXPE, LLT, PCLN, SBUX, VRTX, VIAB, FB, ALTR, CERN, DLTR,NTAP, TXN, DISCA, REGN, TSLA, AMZN, GRMN, KLAC, NVDA, ADI, INTC, LINTA, MYL, STX, WDC, VIP, COST, ORLY, SRCL, FST, ISRG, LMCA, CTSH, PCAR, TSCO, MAT, PAYS, ROST, VRSK

Moving Above 30 DMA = 2
CHKP, YHOO

Moving Below 30 DMA = 1
WYNN

Staying Below 30 DMA
MNST, DISH, SPLS, VOD, XLNX, BBBY, EBAY,  WFM, CA

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

1 comment:

TraderBobb said...

Dave:

Thanks much:
Another great ATA last night.
Questions:

I can't always make it to the Mon/Thur trading room: Would someone who follows possible place in the comments the various paper trade ideas that were reviewed? IE: Entry/Stop/Target?
and:
Dave: Do you mind, if this information is posted or if I post the information when I can?
Thanks

Robert
CANI_212

PS: Special thanks to all the current and past veterans who gave so much, especially this day 70 years ago. May we never forget. D-Day, June 6, 1944