All nine sectors moved
lower on Friday…XLY, XLU and XLP were the strongest sectors and XLB was the weakest.
Breadth weakened as decliners led
advancers…3.87 to 1 on
the NYSE and
2.46 to 1 on
the NASDAQ.
Friday – weakened, decliners led
Thursday – strengthened,
advancers led
Wednesday – weakened,
decliners led
Tuesday – strengthened,
advancers led
Monday – weakened,
decliners led
SPY down 3.30 at 200.89 on 202.3 million shares
VIX up 1.00 at 21.08…
TNX down .75 at 21.03…
TLT up 1.69 at 126.30...
XLF down .48 at 24.14 on 39.2 million shares
AAPL down 1.89 at 109.73 on 56.0 million shares
FB up .10 at 77.83…on 28.0 million shares
Technical Commentary:
QQQ -1.09%, IWM
-1.21%, SPY -1.62%, DIA
-1.72%.
SPY broke Wednesday’s
short-term support low and closed at its lowest level since Nov 4. The defensive theme of moving stops to
protect profits and look for potential bearish setups paid off this week.
Semiconductors $SOX -1.73% sold with the broad market on Friday led by weakness
in MU, NVDA, SNDK, BRCM, TXN, SUNE, MCHP
and NXPI. ADI, ALTR, AMAT, ATML, AVGO, INTC, KLAC, LLTC, TXN and XLNX continue to be bull flag setups.
Continue defensive into next week. If the broad market finds support and bounces,
look for bull flag setups in stocks that are still in an uptrend.
S&P futures trading continued
to shift on Friday to the March contract ESH5
from the Dec contract ESZ4 which stops trading next Thursday.
ADBE +6.28, +9.00% gained following positive EPS after the close on Thursday.
Lending Club, LC, +1.26, +5.38% gained on its second day of trading.
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 = 203.13, 201.90,
200.06...
QQQ = 103.04, 102.42, 101.38…
IWM = 115.04, 114.37,
113.35...
Q3 Earnings Reaction
Positive Reactions – ADBE,
CIEN, LULU, 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 –
COST, AMBA, 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 64.
___________________
17 of 100 NDX stocks closed higher on Friday.
Leading NDX 100 stocks included: ADBE, SPLS, WFM, BBBY, BIIB, YHOO, DLTR, DISH,
EXPE, SBUX
Lagging NDX stocks included: VIP, VOD, CTXS, NTAP, MU, NVDA, MNST, CERN,
SNDK, BRCM
Leading stocks > +2% on Friday:
CTRP, JCP, KK, LOCO
Lagging stocks < -2.0% included:
FAS, CAR,GME, ATI, JASO, ETFC, IBM,
AMBA, JD, TSL, BBRY, SCHW, MS, EMC, MBLY, BX, GLW, SPLK, UAL, X, SUNE, V, AIG,
C
Stocks to Watch on Monday
Holding Above 30 DMA= 47
ROST, DLTR, ISRG, PAYX,
REGN, ORLY, TSCO, VRTX, XLNX, AMGN, BBBY, CELG, ESRX, FISV, HSIC, KRFT, PCAR,
SPLS, TXN, CHKP, EXPD, INTU, LBTYA, SBAC, SBUX, KLAC, MSFT, AMAT, WFM, AVGO, FFIV,
WDC, DISH, EQIX, ADI, ALTR, CSCO, EBAY, EXPE, FAST, INTC, LLTC, MXIM, FOXA,
SIAL, CMCSA, CHTR, CTXS, BIIB, TRIP, FB, CHRW, VIAB, YHOO
Moving Above 30 DMA =
2
ADBE, GILD
Moving Below 30 DMA = 19
ADP, BRCM, CA, COST, CTRX, DISCA, MAR, MAT, MDLZ, MNST, MU, NVDA, NXPI,
SNDK, SRCL, STX, SYMC, VOD, VRSK
Staying Below 30 DMA
AAPL, ADSK, AKAM, ALXN, ATVI, CERN, CTSH, FISV, ISRG, MYL, NTAP, QCOM,
ILMN, CTXS, MSFT, PAYX, SBAC, TRIP, AMZN, LMCA, LMCK, SIRI, GRMN, DTV, PCLN, BIDU,
GOOG, TSLA, VIP, GMCR, WYNN, NFLX
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market
Trend: Down
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