Friday, November 6, 2015

SPY, QQQ, DIA Gain for Sixth Week...Financials, Energy, Tech Lead for the Week...MNST Gap on Friday...VIX Closes Down...

Four sectors moved higher on FridayXLF, XLK and XLB were the strongest sectors while XLU was the weakest sector.  For the week seven sectors moved higher led by XLF, XLE and XLK while XLP and XLU finished lower.
                   (click image to enlarge)

Breadth weakened on the NYSE as decliners led advancers 1.61 to 1 and on the NASDAQ it strengthened as advancers led decliners 1.58 to 1.

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


SPY down .11 at 210.04 on 110.4 million shares
VIX down .72 at 14.33…
TNX up .88 at 23.33…
TLT down 1.77 at 119.00…on 10.6 million shares
XLF up .25 at 24.73…on 69.4 million shares

AAPL up .14 at 121.06 on 33 million shares
FB down 1.67 at 107.09 on 35 million shares

Technical Commentary:
SPY -0.11%, QQQ +0.08%, DIA +0.28%, IWM +0.71%.

SPY, QQQ and DIA closed higher for the sixth straight week on Friday.  IWM, which was down last week was up +3.36% the strongest broad market segment.  The VIX had its lowest weekly close since Aug 14.

The broad market opened lower on Friday following a strong November Jobs Report 271,000 new jobs created and an unemployment rate of 5%.  By the close on Friday, IWM, DIA and QQQ were higher with SPY near even for the day.

For the week TSLA +12.29% had earnings on Tuesday, MNST +10.24% earnings on Thursday and FB +5.46% with earnings after the close on Wednesday.  AMZN +5.35%, NFLX +5.24%, GOOGL +3.28% and AAPL +1.74% also moved higher this week.
                  (click image to enlarge)

Bull Flags were flying again on Friday including SPY, QQQ, CAT, CVX…
                  (click image to enlarge)

AAPL, AAL, GILD, MAT…
                  (click image to enlarge)

DIA, FB, MMM, MRK, ADP, ALXN, BIIB, CHKP, DISCA, DISH, FOXA, ORLY, REGN, VIAB, VRTX, XLNX, YHOO, CCL, HPQ, JNPR, LVS, MPEL, PYPL, SONC and ULTA.

Trade with the trend of the chart you are trading and continue to move your profit protection stops.  Continue to follow your rules.

The SPX Market Forecast is at 95.

Short-term Chart Targets:
SPY =...212.08
QQQ = 114.11, 118.17
IWM = 121.23…

Support Levels
SPY = 208.17
QQQ = 113.39
IWM = 115.42
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Setups
Horizontal Breakout: CRM, GME, NKE, RCL, SVXY, SHAK, UAL, YELP, ZNGA, ADSK (long term), NFLX, NTAP, TXN, WYNN,
Diagonal Breakout: BBY, JBLU, UA, YY,
Bull Flag: SPY, QQQ, BABA, BX, HPQ, JUNO, MPEL, PYPL, SFUN, ULTA, ANGI, JASO, VJET, AAPL, CMCSA, ROST
At Support: VSLR

Moves
New Highs: CTRP, VRSN, AMZN,   
H Breakout: MS, PLAY, SCHW, SUM, GOGO, SPLK, SPWR, GRMN, MNST, SWKS,   
D Breakout: FSLR, AVGO, BRCM,   
Bull Flag Bounce: CCL, FIT, JNPR, LC, NCLH, W, BBRY, MTW, SLCA, XONE, COST, JD, YHOO,  
MACD Divergence Bounce: WFM,  
Bounce: DAL, X, CAR, FEYE, FOGO, QCOM,   
Gap Up: BAC, C, ETFC, MS, SCHW, STI, UBNT, ZION, YOKU, MNST, SWKS, QRVO, NVDA
Gap Down: CREE, ETSY, GLUU, TRIP

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57 of 100 NDX stocks closed higher on Friday.

80 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 3
AVGO, MNST, VIAB

Moving Below 30 DMA = 3
CELG, KHC, MDLZ

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

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