Thursday, January 22, 2015

Rally...Rally...Rally...Stocks Have Big Gains...EURO Falls Against The Dollar To Multi-Year Lows After ECB Announcement Of A 60B A Month Bond Buying Program...Making New Record Highs...BX, DAL, RCL, SWKS, And UAL...

Eight of nine sectors moved higher on Thursday…XLF, XLY and XLK were the strongest sectors and XLU was the weakest.
 
Breadth was strengthened as advancers led decliners 3.70 to 1 on the NYSE and decliners led advancers 2.70 to 1 on the NASDAQ.

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


SPY up 2.98 at 206.06 on 173.4 million shares, above average volume
VIX down 2.45 at 16.40…
TNX up .43 at 18.96…
TLT down .01 at 133.40...
XLF up .55 at 24.00 on 79 million shares

AAPL up 2.80 at 112.35 on 53.7 million shares
FB up .87 at 77.61…on 19.4 million shares

Technical Commentary:
IWM + 2.04%, QQQ + 1.85%,SPY + 1.49%, DIA + 1.47%.

The SPX produced a volatile intraday move of up, down, up once again which followed the expected move by the ECB of a QE bond buying program of 60 billion Euros a month. 

The SPX was led by gains in AVP, LUV, KEY, EBAY, RF, CCI, JCI, UNP, NFLX, CMA, HCBK, BAC, AMZN, MTB and UA.


Thursday RUT Movers:  JNS, ALDR, WETF, JBLU, WBS, DLX, UBSI, HLS, UMBF, FNB, IGTE, BBRY, MW, LEAF, MBFI, FDML, SYNA, PVTB, UMPQ, WTFC, FMER, LQ, WAFD, TCB, WAL.  Eleven of the top 25 gainers were in the regional bank industry.
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 = 203.91, 205.10, 208.97...
QQQ = 102.44, 103.11, 105.26
IWM = 117.89, 118.72, 121.41…
Support Levels
SPY = 198.85, 196.77...
QQQ = 99.62, 98.20
IWM = 114.36, 112.61...

Earnings this week:
Tuesday:  ATI, BHI, CREE, DAL, IBM, JNJ, MS, NFLX
Wednesday: AXP, EBAY, FFIV, GD, SNDK, URI, UNH, XLNX
Thursday:  ALK, ALTR, ETFC, ISRG, KLAC, MXIM, SWKS, LUV, SBUX, TRV, UNP, UAL, VZ
Friday:  GE, HON, KSU, KMB, MCD, ST

Q4 Earnings Reaction
Positive Reactions – NFLX, CREE, UNH, DAL, BHI, SNX, LLTC, TSM

More than 10% - NFLX

Negative Reactions – JNJ, IBM, AA, BAC, C, JPM, KBH, WFC,

More than -10% - KBH,

Reversal in progress

Reversal of Initial Reaction


The SPX Market Forecast is pointed up at 44.

___________________

Setups
Horizontal Breakout: CREE, GLW, MFRM, TWTR, TPX,   
Diagonal Breakout: AA, ATI, BABA, CIEN, CRM, ETFC, EXPE, FAS, IWM, KKD, MBLY, NKE, SPLK, FSLR, SINA, SSYS

Moves
New Highs: BX, DAL, RCL, SWKS, UAL,       
H Breakout: LOCO, YY,  
D Breakout: SPY, BBRY, HOG, LNKD, RAX, STI, UA   
Bounce: AIG, BAC, BBY, C, CAR, IBM, JCP, MS, SCHW, Z, ZION, YNDX,    
MACD Divergence Bounce: ANR

______________________


85 out of 100 NDX stocks closed higher on Thursday.


Leading NDX 100 stocks included: EBAY, NFLX, SBAC, AMZN, SYMC, DLTR, AAL, TSCO, DISH, HSIC

Lagging NDX stocks included: XLNX, BIIB, SNDK, WDC, VIP, CHKP, PCAR, BRCM, NXPI, MYL


Leading stocks > +2% on Thursday: ETFC, CREE, BBRY, FAS, UA, X, BAC, HPQ, C, STI, SCHW, UAL, ZION, TWTR, RAX, JCP, EMC


Lagging stocks < -2.0% included: DGLY, GPRO, LC, UNG, FEYE, PANW,


Stocks to Watch on Friday
Holding Above 30 DMA = 45
WFM, SIAL, CHKP, KRFT, MNST, SRCL, AVGO, HSIC, CTSH, FISV, NXPI, PAYX, SIRI, CELG, DTV, ADP, ATVI, BIIB, CERN, CSCO, CTRX, EA, GILD, NFLX, VOD, VRTX, AAL, ILMN, LLTC, REGN, TXN, AMAT, BBBY, BIDU, DISH, GMCR, GOOG, KLAC, LMCA, LRCX, LVNTA, MDLZ, NVDA, SBAC, SBUX

Moving Above 30 DMA = 21
AAPL, ADBE, AMZN, CHRW, CMCSA, DLTR, EBAY, EQIX, ESRX, EXPD, FAST, FB, GRMN, INTC, ISRG, MAR, MSFT, ROST, SYMC, TSCO, VRSK        

Moving Below 30 DMA = 2
BRCM, VIP                           

Staying Below 30 DMA
CA, MYL, SPLS, WDC, COST, QCOM, STX, TRIP, ORLY, ADI, AKAM, CHTR, DISCA, FOXA, LBTYA, PCAR, PCLN, VIAB, ADSK, MAT, MU, ALTR, CTXS, INTU, YHOO, NTAP, SNDK, AMGN, XLNX, ALXN, TSLA, WYNN

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

1 comment:

Anonymous said...

Thanks Dave! I read your postings everyday and they are very important and helpful!