Friday, November 21, 2014

SPX, Dow All-time Closing High...ROST, ADSK, CAT, MU, SPLK Gain...GME Gaps Lower...

All nine sectors moved higher on Friday…XLE, XLB and XLI were the strongest sectors while XLK was the weakest.
 
Breadth strengthened on the NYSE as advancers led decliners…1.96 to 1 on the NYSE and 1.13 to 1 on the NASDAQ


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


SPY up .06 at 206.74 on 142.3 million shares, above average volume
VIX down .68 at 12.90…
TNX down .20 at 23.15…
TLT up .27 at 120.37...
XLF down .01 at 24.20 on 20.3 million shares

AAPL down .14 at 116.33 on 57.1 million shares
FB down .04 at 73.71…on 23 million shares, below average volume

Technical Commentary:
SPY + 0.54%, DIA +0.51%, QQQ + 0.19%, IWM +0.12%.

Futures rose Thursday night and stocks gapped open on Friday morning following a Chinese announcement of lower interest rates and ECB announcing purchases of asset-backed securities.  The SPX and Dow again closed at new all-time highs after pulling back from their opening gap.

ROST +7.32%, ADSK +6.06%, ATI +5.83%, CAT +4.27% and STJ +3.94% led gainers in the SPX on Friday.  ROST, ADSK gapped higher after positive earnings, ATI is a reversal horizontal resistance breakout, while CAT and STJ gapped higher following positive analyst comments.

The Euro continued its downtrend by falling back to its support low of the past two weeks.  Will this double support area ultimately form a double bottom in the Euro?  One clue is the potential MACD Histogram bullish divergence that is currently forming.

GME -5.68, -13.05% gapped lower and SPLK +1.99, +3.06% gapped higher on Friday following earning announcements after the close on Thursday.

MU +1.09, +3.08% was the third strongest NDX 100 stock on Friday and is an intermediate term horizontal resistance breakout setup with a four-month chart target of $43.38 following positive comments from Nomura indicating that MU was trading at a “sizable” discount.


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 = 207.33, 209.06, 210.49...
QQQ = 103.37, 106.94
IWM = 117.48, 118.25, 119.37, 121.27…

Support Levels
SPY = 203.13, 201.90, 200.06...
QQQ = 102.42, 101.38, 100.56
IWM = 115.04, 114.37, 113.35...



Q3 Earnings Reactions
Positive Reactions – ADSK, JASO, ROST, SPLK, GOGO, RAX, NTES, XONE, YOKU, VJET, BABA, MNST, WFM, ABC, ACI, AMGN, BIDU, BWLD, CBOE, CLF, CLX, CNX, EA, ESRX, EQIX, EXPE, FISV, GLW, GPRO, GRPN, GT, HSY, JCI, JDSU, LNKD, LVLT, MA, MAR, MO, MTW, MYL, PCAR, FE, SCHN, STX, SWI, SWKS, TASR, V, WY, X, WHR,  AAPL, ALK, ALXN, APOL, BMY, BRCM, CAT, CELG, CERN, CHKP, CMCSA, CNI, EMC, EW, GD, HAL, HAS, HOG, ILMN, IM, KLAC, KMB, LLY, LRCX, LXK, MMM, MXIM, MSFT, N, ORLY, PG, RMD, STLD, STT, SWK, TRV, TSCO, TXN, UNP, VRSN, WOOF, YHOO, YNDX, ZION, AMD, C, CSX, DAL, GE, HON, LVS, MS, SCHW, SLB, STI, URI, XLNX, COST, BBBY, BBRY, MU, NKE, PAYX, LULU, PANW, ULTA, MFRM, SPLK,

More than 10% - GOGO, RAX, WFM, GPRO, GPRN, LNKD, BWLD, SWI, N, EW, TSCO, NKE, ULTA, LULU, PANW, MFRM,

Negative Reactions – CRM, JD, MBLY, SINA, YY, SWKS, FEYE, FSLR, PCLN, QCOM, TRIP, SCTY, SSYS, SUNE, UBNT, Z, ZU, AEM, CHRW, COH, FB, GRMN, KRFT, MDC, MRK, NEM, PNRA, RGR, SLCA, TPX, TWTR, ALTR, AMZN, BA, BTU, CMG, CREE, DECK, DNKN, DOW, EAT, F, GM, IBM, JNPR, KO, LMT, LUV, NDAQ, P, UA, VMW, XRX, YELP, AXP, BAC, COF, EBAY, GOOGL, INTC, JNJ, JPM, KEY, MAT, NFLX, WFC, AZO, ADBE, KKD, CIEN,

More than -10% - GME, CSIQ, FSLR, UBNT, ZU, AEM, P, TPX,

Reversal in progress – P, PCLN, TPX, NFLX, COH, GRMN, KO, MDC, VMW,

Reversal of Initial Reaction – AMZN, FEYE, SWKS, Z, BA, BAC, CHRW, CMG, COF, CREE, DECK, DNKN, DOW, EAT, EBAY, F, GM, GOOGL, INTC, JNJ, JNPR, JPM, KEY, LMT, LUV, MAT, NDAQ, UA, WFC, XRX, ADBE, ALTR, ALTR, AXP, AZO, BTU, K, KKD, KRFT, MRK, PNRA,

The SPY Market Forecast is at 98.

___________________

Setups
Horizontal Breakout: C, CIEN, CREE, CTRP, ETFC, FAS, HPQ, IWM, JDSU, KKD, LVS, MTW, SCSS, SFUN, STI, TSL, WLT, JNPR, AKAM, CELG, DTV, SNDK, WFM, XLNX,
Diagonal Breakout: DGLY, SCTY, SPWR, YNDX, UPL, CMCSA,    
Bull Flag: DAL, MFRM, UAL, Z, MAR,

Moves
New Highs: TXN, NTES, ESRX, SBUX   
H Breakout: GLW, MU, V,    
D Breakout: MS
Bull Flag Bounce: BAC, FEYE, MTW, ZION, ADBE,   
Bounce: BBRY, QIHU, SOHU, ZU, BIDU,   
Gap Up: ROST, ADSK, SPLK, CAT, SPY, AA, ATI, CIEN, SFUN, SUNE, ESRX, SBUX,
Gap Down: GME
Support Break: VJET  

______________________


70 of 100 NDX stocks closed higher on Thursday and one was unchanged.

Leading NDX 100 stocks included: ROST, ADSK, MU, VIP, BIDU, CTSH, DISH, SBUX, CA, LBTYA

Lagging NDX stocks included: TSLA, NFLX, EXPE, GMCR, MSFT, VRTX, INTC, LVNTA, STX, ALXN

Leading stocks > +2% on Friday: SFUN, ATI, TSL, SUNDE, SPLK, ZU, JASO, QIHU, SCTY, FEYE, RWLK, NTES

Lagging stocks < -2.0% included: GME


Stocks to Watch on Monday
Holding Above 30 DMA= 89
ROST, CHRW, GRMN, MYL, SRCL, DLTR, ISRG, MNST, PAYX, REGN, ADP, ALXN, BIDU, COST, ORLY, TSCO, VRTX, XLNX, AAPL, AMGN, BBBY, CELG, ESRX, FISV, HSIC, ILMN, KRFT, MAR, PCAR, SPLS, SYMC, TXN, BRCM, YHOO, CA, CERN, CHKP, CTSH, EXPD, INTU, LBTYA, NVDA, SBAC, SBUX, STX, ADBE, ADSK,  KLAC, LMCA, MDLZ, MSFT, VRSK, AMAT, LMCK, MU, WFM, AVGO, FFIV, NTAP, NXPI, VOD, WDC, AKAM, BIIB, CTRX, DISH, EQIX, SIRI, ADI, ALTR, CSCO, DTV, EBAY, EXPE, FAST, INTC, LLTC, MAT, MXIM, SNDK, FOXA, QCOM, TSLA, PCLN, SIAL, AMZN, CHTR, VIAB, ATVI, CTXS

Moving Above 30 DMA = 1
VIP                                                                                                                                        

Moving Below 30 DMA = 0
                                                           
                                                                                       
Staying Below 30 DMA
GMCR, WYNN, BIIB, GILD, GOOG, QCOM, TRIP, DISCA, FB, NFLX

6-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Up

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