Six of nine sectors
moved higher on Friday…XLV, XLP and XLU were the strongest sectors and XLE was the weakest.
Breadth strengthened as advancers led decliners on the NYSE and on the NASDAQ.
Friday – strengthened,
advancers led
Thursday – strengthened,
decliners led
Wednesday – weakened,
decliners led
Tuesday – weakened,
decliners led
Monday- weakened,
advancers led
SPY up .47 at 205.74 on 118.9 million shares, 16% above average volume
VIX down .73 at 15.07…
TNX down .59 at 19.48…
TLT up 1.61 at 131.06…bull flag bounce
XLF down .03 at 23.93 on 224.4 million shares, 13% below average
volume
AAPL down .99 at 123.25 on 39.5 million shares, 27% below average volume
FB up .29 at 83.30…on 18.3 million shares, 31% below average volume
Technical Commentary:
IWM +0.64%,
QQQ +0.40%, SPY +0.23%, DIA +0.19%.
After falling for four days the SPX
rallied on Friday as buyers
entered near support and buyers aggressively bought semiconductor stocks, cruise
line stocks CCL, RCL and NCLH and airline stocks as oil fell.
While SPY,
QQQ and DIA are setup for a support bounce, we like the IWM bull
flag setup which closed just one cent below an entry signal.
ALTR +9.81,
+28.39% soars following
news of INTC +1.92, +6.38% buyout
talks. This lifted semiconductor stocks SOX
+19.07, +2.83%. In addition to ALTR and INTC, SOX leaders
included CAVM +7.60%, SWKS +6.22%, XLNX +5.85%, ATML
+2.85%, AVGO +2.81%,
ASML +2.81%, FSL +2.70% and SUNE
+2.53%.
The SPX was led by ALTR, RCL, INTC,
SWKS, CCL, XLNX, CAG, KRFT, HRS and EA.
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 = 212.24...
QQQ = 108.94…
IWM = 126.22…
Support Levels
SPY = 205.86, 203.49...
QQQ = 105.38, 104.44…
IWM = 122.77, 121.22, 119.83...
Q4 Earnings Reaction
Positive Reactions – CCL, BBRY, DGLY, CTRP, JUNO, KBH, MFRM,
NKE, AVGO, CRM, MNST, ROST,
ADSK, GOGO, SPWR, ESRX, CMCSA, ANGI, CAR, INTU, JWN, RAX, MAR, NEM, PCLN, Z, TRIP,
FEYE, CSCO, NVDA, AKAM, WFM, Z, EEFT, TMH, CTLT, SKX, NTES, WCG, ADP,
ATVI, CTSH, FISV, ONNN, ORLY, SIRI, UA, VRSN, AMZN, AAPL, ALXN,
BRCM, BX, CAVM, CELG, EA, FB, FSL, GLW, HOG, JNPR, TSCO, TSS, TUP, VIAB, WDC,
X, NFLX, ALK, BHI, CREE, DAL, EBAY, ETFC, GE, HON, KMB, LUV, MXIM,
SBUX, SWKS, TRV, UAL, UNH, UNP, SNX, LLTC, TSM
More than 10% - DGLY, CTRP, JUNO, AVGO, MNST, CRM, SPWR, ANGI, UPL, TRIP,
FEYE, EEFT, TMH, MLM, SEE, LNKD, TWTR, UBNT, ONNN, AMZN,
BIIB, NFLX, FSL, EA, TUP, X
Negative Reactions – CMGE, GME, YOKU, XONE, JCP, SPLK, LL, LC, HPQ, SCTY, ZU, ZNGA, NTAP,
BIDU, TSLA, HSIC, KRFT, SFUN, SOHU, ATML, CHRW, FOXA, GILD, GMCR,
SRCL, SYMC, WYNN, QCOM, JDSU, RCL, BABA, PCAR, YHOO, MSFT, STX,
VRTX, AAL, ZION, AXP, ALTR, FFIV, IBM, ISRG, JNJ, KLAC, KSU, MCD, STT,
XLNX, AA, BAC, C, JPM, WFC,
More than -10% - YOKU, LL, LC, TPX, ZU,
ZNGA, EXPE, GPRO, YELP, P, TPX, QCOM, FFIV, KBH,
Reversal in progress –
ZNGA, AXP, BIDU, FFIV, GILD, ISRG, JCP, JDSU, JNJ, KLAC, MSFT, NTAP, RCL, SOHU,
STX, YHOO
Reversal of Initial
Reaction – AA, AAL, ALTR, ATML, C, BAC, CHRW, FOXA, GMCR, HSIC, IBM, JDSU, JPM, KSU, MCD, PCAR,
QCOM, SFUN, SRCL, SYMC, STT, TPX, TSLA, WDC, WYNN, VRTX, WFC, XLNX, ZION
The SPX Market Forecast is down at 43.
___________________
Setups
Horizontal Breakout: RCL,
CCL, NCLH, GPRO, JD, NTES, PANW, QIHU, SCHW, SLCA, SPLK, TWTR, X, YELP, ZION,
CYBR, VRSN, XLNX, YHOO
Diagonal Breakout: TRIP
Bull Flag: IWM, SPY, NKE, FB, RAX, AMBA, BBY, CRM,
CSIQ, EXPE, FAS, IBM, JASO, MBLY, SCSS, SWI, TPX,TSL, VSLR, TAN, ZNGA, CMGE,
DGLY, AKAM, COST, MYL, SBUX
Potential Bullish
Divergence: CREE, FEYE, UBNT, V, Z,
ADSK, AMZN, EBAY, MSFT, MU, NFLX, PCLN, QCOM, STX, WDC
Moves
H Breakout: INTC, ALTR
Bull Flag Bounce:
ETFC, JUNO, SUNE, SWKS, UA, RCL, AAL, EA
MACD Divergence Bounce:
TXN, XLNX
Gap Up: CCL, RCL,
YHOO
______________________
66 out of 100 NDX stocks closed higher
and one was unchanged Friday.
Leading NDX 100 stocks included: ALTR, INTC, XLNX, KRFT, EA, AVGO, AAL, ALXN,
NXPI, ADI
Lagging NDX stocks included: TSLA, SNDK, STX, NTAP, GOOG, VIP, WDC, CHTR,
NFLX, AAPL
Leading stocks > +2% on Friday:
RCL, SWKS, JUNO, PANW, YELP, AMBA, SUNE, VSLR, NTES
Lagging stocks < -2.0% included: SSYS, CIEN
Stocks to Watch on Monday
Holding Above 30 DMA = 25
MNST, NXPI, BIIB, DLTR,
COST, EXPD, ROST, AKAM, AVGO, INTU, LVNTA, SRCL, REGN, MYL, CERN, FB, SBUX,
AAL, AMGN, SIAL, YHOO, CTXS, KRFT, CTSH, ORLY
Moving Above 30 DMA =
7
ADI, ALTR, BBBY, EA, EQIX, VRSK, XLNX
Moving Below 30 DMA = 1
GOOG
Staying Below 30 DMA
FAST, SPLS, VIP, ALXN, ATVI, BIDU, CA, CELG, CHKP, CHRW, CHTR, DISCA, EBAY,
FISV, FOXA, HSIC, LMCA, MAR, MSFT, PAYX, PCAR, SBAC, SIRI, SNDK, TRIP, TSCO,
TSLA, TXN, VRTX, AAPL, BRCM, CMCSA, ESRX, ISRG, KLAC, LBTYA, LLTC, NVDA, PCLN,
VIAB, XLNX, ADBE, ADP, AMZN, GILD, ILMN, ADSK, AMAT, GMCR, QCOM, CSCO, DISH,
DTV, LRCX, NTAP, WFM, MDLZ,NFLX, WDC, MU, STX, CTRX, SYMC, VOD, WYNN, GRMN, MAT
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market Trend: Down
