Two of nine sectors
moved higher on Thursday…XLB, XLF and XLK were the strongest sectors and XLE was the weakest.
Breadth weakened as decliners led
advancers…1.75 to 1 on the NYSE and 1.52 to 1 on the NASDAQ.
Thursday – weakened, decliners led
Wednesday – weakened slightly,
advancers led
Tuesday – strengthened,
advancers led
Monday – weakened,
decliners led
Friday – weakened,
decliners led
SPY down .23 at 207.66 on 91.3 million shares
VIX down .09 at 12.438…
TNX down .30 at 22.57…
TLT up 1.01 at 121.80...
XLF up .04 at 24.60 on 16.9 million shares, below average volume
AAPL down .49 at 115.44 on 42.1 million shares
FB up .42 at 75.30…on 14.3 million shares
Technical Commentary:
QQQ – 0.05%,
DIA – 0.07%, SPY –
0.11%, IWM – 0.48%.
Stocks paused on
Thursday following ECB comments on QE.
Market awaiting Jobs Report on Friday.
AVGO +7.74, +8.14% leads NDX and SOX on
positive earnings reaction. SOX slightly positive led by AVGO, SWKS, RFMD, FSL, MXIM, and BRCM.
TRIP closed above its 30 DMA following the breakout of an inverse head and shoulders reversal
pattern on Tuesday. Reversal pattern Chart target: 81.84.
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 = 207.33, 209.06, 210.49...
QQQ = 106.94…
IWM = 118.25, 119.37,
121.27…
Support Levels
SPY = 205.71, 203.13, 201.90...
QQQ = 104.42, 102.42, 101.38…
IWM = 115.04, 114.37,
113.35...
Earnings this week: AMBA, AVGO,
MFRM
Q3 Earnings Reaction
Positive Reactions – AVGO,
ADI, HPQ, PANW, QIHU, 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 – MFRM,
GME, 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 – GOGO, P, PCLN, TPX, KO,
Reversal of Initial
Reaction – AMZN, FEYE, SWKS, Z, ADBE, ALTR, ALTR, AXP, AZO, BA, BAC, BTU, CHRW, CMG,
COF, COH, CREE, DECK, DNKN, DOW, EAT, EBAY, F, GM, GOOGL, GRMN, INTC, JNJ,
JNPR, JPM, KEY, KKD, KO, KRFT, LMT, LUV, MAT, MDC, MRK, NDAQ, PNRA, UA, VMW,
WFC, XRX,
The SPY Market Forecast is at 95.
___________________
Setups
Horizontal Breakout: SPY,
ATI, CAR, CIEN, DAL, ETFC, HOG, IBM, MS, SCHW, STI, ILMN, NTAP,
Diagonal Breakout: ANGI,
BABA, CSIQ, EMC,
Bull Flag: BBY, KKD, NTES,
PANW, ADBE, CELG, MNST
At Support: JCP, YY,
C- Pattern:
Moves
New Highs: RAX, SWKS,
BRCM, EXPE, FFIV,
H Breakout: DGLY
Bounce: GME, KNDI,
MBLY, VRSN, YOKU, GOOGL, PCLN, WFM,
MACD Divergence Bounce:
Gap Up: AAL, UAL, AVGO
Support Break: UNG, WYNN,
______________________
36 of 100 NDX stocks closed higher and one was unchanged on Thursday.
Leading NDX 100 stocks included: AVGO, TRIP, MSFT, AKAM, WFM, EXPE, ATVI, MAT,
SBUX, EQIX
Lagging NDX stocks included: VIP, VRTX, WYNN, DISCA, DISH, BIIB, CTSH, CA,
QCOM
Leading stocks > +2% on Thursday:
DGLY, SWKS, UAL, MBLY, DAL, KNDI, AAL, YOKU, CAR, CSIQ
Lagging stocks < -2.0% included:
JCP, UNG, BBRY, QIHU, P, LVS, GOGO,
UBNT, CREE, AMBA, XONE
Stocks to Watch on Friday
Holding Above 30 DMA= 85
ROST, CHRW, MYL, SRCL,
DLTR, ISRG, MNST, PAYX, REGN, ADP, ALXN,
COST, ORLY, TSCO, VRTX, XLNX, AAPL, AMGN, BBBY, CELG, ESRX, FISV, HSIC, 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, AMAT, LMCK, MU, WFM, AVGO, FFIV, NTAP, NXPI, VOD,
WDC, AKAM, CTRX, DISH, EQIX, SIRI, ADI, ALTR, CSCO, EBAY, EXPE, FAST, INTC,
LLTC, MXIM, SNDK, FOXA, SIAL, AMZN, CMCSA, CHTR, VIAB, ATVI, CTXS, DISCA, BIIB,
QCOM, ILMN
Moving Above 30 DMA =
1
TRIP
Moving Below 30 DMA = 2
GRMN, VRSK
Staying Below 30 DMA
PCLN, BIDU, FB, GOOG, MAT, TSLA, VIP, GMCR, WYNN, GILD, TRIP, NFLX
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market
Trend: Up
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