Thursday, August 21, 2014

Stocks Climb...S&P 500 Sets Another Record Close...DJIA Above 17,000 Again...Many Stocks Rise & Close Above Horizontal Resistance...GME Reports Positive Earnings...GME Up 7.06% In After Hours Trading...

Six out of nine sectors moved higher on Thursday…XLF, XLK and XLU were the strongest sectors…XLB was the weakest sector. 

Breadth strengthened as advancers led decliners 1.52 to 1 on the NYSE and 1.23 to 1 on the NASDAQ where decliners led advancers.

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


SPY up .58 at 199.50 on 67.7 million shares
VIX down .02 at 11.76…
TNX down .19 at 24.07…
TLT up .65 at 116.64...
XLF up .27 at 23.20 on 37.3 million shares, above average volume

AAPL up .01 at 100.58 on 33.4 million shares
FB down .24 at 74.57…on 20 million shares, below average volume


Technical Commentary:
QQQ + 0.20%, IWM + 0.22%, SPY + 0.29%, DIA + .34%.


Traders continue to follow your entry rules.

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


Short-term up trend Chart Targets:
SPY = 194.30, 195.78, 196.62, 198.05...
QQQ = 96.31, 97.52, 98.28
IWM = 112.23, 114.31...

Support Levels
SPY = 191.57, 189.51...
QQQ = 93.57, 91.73, 90.44…
IWM = 110.15, 108.86...

Earnings season is winding down while retail earnings began this week. 

This week:  GME, HPQ, JASO, YOKU, ROST,

Q2 Earnings Reactions
Positive Reactions – AMAT, CSIQ, PCLN, NTES, SINA, NVDA, MNST, ANR, FSLR, GTAT, LNKD, SFUN, SSYS, SUNE, UBNT, YOKU, AKS, AMGN, CHRW, ESRX, HCA, HES, LRCX, TSN, TWTR, WYNN, X, YNDX, CMG, BIIB, ISRG, SWI, UA, VRSN, AAPL, APD, CA, CHKP, CMCSA, CTXS, DAL, DECK, DOW, FFIV, FB, FTI, GD, LXK, LMT, NBR, NDAQ, NOK, OSTK, ORLY, PETS, RHI, STLD, SWK, TSCO, TXN, WHR, XRX, ZION, BX, C, GOOGL, GS, HON, INTC, KSU, JPM, PM, SCSS, SWKS, URI, AA, STZ, APOL, BKS, KBH, MON, MU, NKE, SCHN,

More than 10% - TWTR, CMG, BIDU, BIIB, ISRG, LNKD, OSTK, SWI, SFUN, SSYS, SUNE, UA, VRSN, X

Negative Reactions – ADSK, CREE, GOGO, JDSU, JWN, M, RAX, SCTY, YELP, CTSH, MYL, AEM, AET, AKAM,  BWLD, BZH, CL, CMI, COP, DDD, ESI, GLW, GRMN, HLF, JEC, KRFT, LNG, MTW, RYL, SLCA, UPL, UPS, VRTX, XOM, ALK, ALXN, AMZN, ANGI, ATI, BA, CAT, CELG, DHI, DNKN, EA, ETFC, FCX, GM, HOG, ILMN, JNPR, KLAC, KMB, KO, LLTC, MCD, NFLX, P, PHM, QCOM, SBUX, STI, STO, T, TPX, TRIP, TRV, UTX, V, XLNX, AMD, BAC, BHI, JCI, JNJ, LVS, MAT, SLB, SNDK, STX, USB, YHOO, FAST, FDO, CAMP, BBBY, GIS, CCL, WAG,

More than -10% - AMD, ANGI, BWLD, CAMP, DHI, HLF, MXIM, P, SNDK, XLNX,


Reversal in progress – AET, AKAM, ALXN, AMZN, ATI, EA, GIS, GRMN, ILMN, KO, KRFT, LNG, P, RYL, STX, TPX, VRTX,


Reversal of Initial Reaction – BBBY, BZH, BBBY, CELG, DNKN, ETFC, KLAC, NFLX, RAX, SLCA, UPL, YELP, YHOO, APOL, KBH, MON,


The SPY Market Forecast green line is pointed UP at 85.

____________________


Setups
Horizontal Breakout: BBY, GME, KNDI, MS, NKE, QIHU, SCHW, SPWR, YELP, CRM, ADBE, AKAM, BRCM, MSFT, NFLX, STX,
Diagonal Breakout: VJET, GMCR, WDC,   
Bull Flag: BX, CTRP, EMC, MFRM, NTES, SFUN, UBNT, X, FB, GOOG, NTAP, YHOO
Potential Bullish Divergence: 
Gap Up:
Gap Down:
Bear Flag:   
At Support:   
C- Pattern

Moves
New Highs:    
H Breakout: SPY, AIG, C, ETFC, FAS, GOGO, HPQ, TSL, BAC, CIEN, JNPR, CTXS, EBAY, INTC,  
D Breakout:  
Bull Flag Bounce
Gap Up:  
Gap Down:  
Bounce:   
MACD Divergence Bounce: ANGI,   
C- Pattern
Support Break:      


______________________

52 of 100 NDX stocks closed higher and two were unchanged on Thursday.


Leading NDX 100 stocks included: EBAY, INTC, DISH, GILD, EQIX, AMAT, LINTA, MAT, STX, ADBE

Lagging NDX stocks included: SPLS, VRTX, MYL, PCAR, ALXN, DLTR, BIIB, MNST, REGN, BIDU

Leading stocks > +2% on Thursday included: GOGO, HPQ, JDSU, FAS, Z, C, STI

Lagging stocks < -2.0% included: KNDI, BBRY, SINA, AAL, UAL, GME

Stocks to Watch on Friday
Holding Above 30 DMA= 77
CHRW, BIDU, INTC, WDC, SYMC, GILD, SBAC, NTAP, EBAY, COST, FB, BBBY, CERN, EXPE, REGN, AMGN, CTXS, FFIV, PCLN, ISRG, YHOO, ESRX, TSLA, FOXA, MSFT, NFLX, ADP, CTRX, DISCA, MNST, NVDA, ROST, WFM, AAPL, ATVI, CHKP, INTU, MAR, PAYX, BIIB, EQIX, ALXN, CELG, FISV, SIAL, SIRI, VRSK, AKAM, AVGO, CMCSA, DISH, HSIC, KLAC, LBTYA, LMCA, ORLY,SRCL, STX, VIP, ALTR, AMAT, BRCM, TXN, ADBE, GOOG, ILMN, LINTA, TSCO, VOD, ADI, FAST, LLTC, MU, GRMN, NXPI, QCOM, SNDK

Moving Above 30 DMA = 0
                                             

Moving Below 30 DMA = 5
AMZN, DLTR, PCAR, SBUX, SPLS
                                                                                                             

Staying Below 30 DMA
ADSK, CTSH, WYNN, CA, DTV, CHTR, CSCO, VRTX, MDLZ, EXPD, MYL, TRIP, GMCR, KRFT, VIAB, XLNX, MAT, MXIM

Sixteen Week Intermediate Term Market Trend: Up

3-Day Short Term Market Trend: Up

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