Thursday, October 16, 2014

S&P 500 And NASDAQ Rebound From Lows To End Trading Session Nearly Even...Numerous Stocks Bounce...ESI Blasts Off With Gap And Gain Of 40.30%...While CHK Notches A Gap Up And A 16.99% Gain...NFLX Subscriber Numbers Disappoint Ends Down 19.37%...In After Hours Trading XLNX Shares Up After Positive Q2 Report...

Five of nine sectors moved higher on Thursday…XLE, XLB and XLI were the strongest sectors while XLP was the weakest. 

Breadth strengthened…advancers led decliners…2.43 to 1 on the NYSE and   advancers led decliners 2.07 to 1 on the NASDAQ.

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


SPY down .73 at 185.70 on 269.9 million shares, double average volume
VIX down 1.05 at 25.20…
TNX up .63 at 21.53…
TLT down .52 at 122.01...
XLF down .08 at 21.96 on 81.6 million shares, above average volume

AAPL down 1.31 at 96.23 on 72 million shares, above average volume
FB down .90 at 72.31…on 53.4 million shares, above average volume

Technical Commentary:
IWM + 1.15%, SPY – 0.32%, DIA – 0.33%, QQQ – 0.84%.



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 Chart Targets:
SPY = 193.21, 194.05, 194.88...
QQQ = 96.08, 97.10, 98.76
IWM = 106.29, 107.34, 109.04…

Support Levels
SPY = 190.28, 189.66...
QQQ = 95.06, 93.66
IWM = 105.76, 103.74, 102.49...


Earnings this week
Tuesday: C, CSX, INTC, JNJ, JPM, LLTC, WFC
Wednesday: AXP, BAC, EBAY, KEY, LVS, NFLX, URI
Thursday: AMD, BHI, BX, COF, DAL, GS, GOOGL, MAT, OSTK, SNDK, SLB, SCHW, XLNX,
Friday: BK, GE, HON, KSU, MS, STI

Q3 Earnings Reactions
Positive Reactions – C, COST, BBBY, BBRY, MU, NKE, PAYX, LULU, PANW, ULTA, MFRM, SPLK,

More than 10% - NKE, ULTA, LULU, PANW, MFRM,

Negative Reactions – JNJ, WFC, AZO, ADBE, KKD, CIEN,

More than -10% -

Reversal in progress – AZO,

Reversal of Initial Reaction – KKD, BBRY, MU,

The SPY Market Forecast is at 10.

___________________

Setups
Horizontal Breakout: ANGI, BABA, BBY, SCSS, LVS,
Diagonal Breakout: MFRM, PANW, SWKS, CAR, SINA, WLT, ILMN,
Bull Flag: GMCR,  
Potential Bullish Divergence: 
Gap Up:
Gap Down: 
Bear Flag:  
At Support:   
C- Pattern

Moves
New Highs
H Breakout: KKD, CMGE, GRMN,  
D Breakout: BBRY, FEYE, GOGO, IWM, SSYS, ANR, GME, TSL, UBNT, XONE,
Breakout Test:  
Bull Flag Bounce
Bounce: AA, BAC, C, CRM, CSIQ, DAL, FAS, HPQ, MBLY, NKE, RCL, SPLK, TPX, UA, UAL, V, VRSN, YY, ATI, HOG, JASO, JCP, MTW, STI, VJET, ZION, ADBE, DTV, EXPE, GILD, MAR, MU, SBUX, SNDK, STX, TRIP, TXN, WDC, WYNN, YHOO,
MACD Divergence Bounce: JD, SCTY, CIEN, ETFC, KNDI, SOHU, PCLN,  
Gap Up: ESI,
Gap Down: NFLX,
C- Pattern:  
Bear Flag:  
Support Break:  


______________________

43 out of 100 NDX stocks closed higher on Thursday.

Leading NDX 100 stocks included: XLNX, WYNN, ILMN, AVGO, NXPI, MYL, BIDU, FOXA, LLTC, ALXN

Lagging NDX stocks included: NFLX, EBAY, SNDK, GOOG, MAT, CMCSA, AKAM, VIP

Leading stocks > +2% on Thursday: FEYE, CSIQ, YY, AAL, SWKS, HPQ,BABA,SCTY, SSYS, JD, UAL, DAL, RCL, SPLK, UA, NKE

Lagging stocks < -3.0% included: TWTR

Stocks to Watch on Friday
Holding Above 30 DMA= 5
SIAL, GMCR, ROST, CHRW, GRMN

Moving Above 30 DMA = 3
MYL, SRCL, WYNN

Moving Below 30 DMA = 0

                                                                                             
Staying Below 30 DMA
COST, MNST, PAYX, VRTX, AAPL, ALXN, DLTR, ADP, ADSK, BBBY, ISRG, YHOO, AMGN, CELG, CERN, CTSH, DTV, EBAY, FAST, FB, GILD, LBTYA, MSFT, NFLX, REGN, CSCO, EXPE, INTU, MU, SBAC, WFM, CHRW, DISH, FISV, AVGO, ALTR, BRCM, CTXS, INTC, KLAC, NTAP, BIDU,MAR, NXPI,SNDK, TXN, VOD, XLNX, SPLS, AKAM, BIIB, CHKP,GOOG, QCOM, CHTR, CMCSA, FFIV, LLTC, AMAT, CA, ESRX, EXPD, LMCA, LMCK, MXIM, SYMC, TRIP, VIAB, VRSK, EQIX, ILMN, MDLZ, NVDA, ORLY, SIRI, CTRX, KRFT, ADBE, AMZN, ATVI, FOXA, STX, TSLA, VIP, HSIC, SBUX, TSCO, DISCA, MAT, ADI, WDC, GRMN, PCLN, PCAR, WYNN

5-month Intermediate Term Market Trend: Neutral

3-day Short Term Market Trend: Down

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