Monday, December 7, 2015

GMCR Gaps 37% on Buyout...QQQ, SPY Rally From Lows in Last Hour Close Above Friday's S1...

Two of nine sectors moved higher on MondayXLU, XLP and XLY were the strongest sectors while XLE was again the weakest sector

Breadth weakened as decliners led advancers  4.08 to 1 on the NYSE and 3.35 to 1 on the NASDAQ.

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

SPY down 1.27 at 208.35 on 101.5 million shares, 42% lower than Friday’s up volume
VIX up 1.03 at 15.84…below Thursday’s closing VIX of 18.11
TNX down .50 at 22.25…
TLT up 1.17 at 121.75…on 9 million shares
XLF down .23 at 24.55…on 25.4 million shares

AAPL down .75 at 118.28 on 32 million shares
FB down .57 at 105.61 on 15.4 million shares

Technical Commentary:
QQQ -0.45%, SPY -0.61%, DIA -0.61%, IWM -1.50%.

Down volume was significantly lower on Monday than Friday’s buying volume on many ETFs and stocks including SPY, QQQ, DIA, IWM, XLF, XLI, XLV, XLY, AAPL, FB, AMZN and GOOGL.
SPY closes above Friday’s S1.
QQQ trades and closes above Friday’s S1.
Oil drops, XLE weakest sector.
Airline stocks take off on weaker oil: DAL, JBLU, UAL, AAL, ALK, LUV

GMCR +37.19, .71.93% gaps up on buyout offer.

DLTR, NWL, AVP, LULU, PBYI, LC, JD, MAT, LRCX and EA continue to rise on down day.
WFM, VIAB reverse higher on increased volume.

SPY, QQQ, XLB, XLF, and XLk are HBO setups and IWM, XLY and XLI are bull flag setups.

Setups for Tuesday:
Bull Flags INTC, NXPI, XLNX, BIDU, AMZN, GOOGL, ILMN, TSLA, YHOO, AA, FLSR, NKE, SLCA, YELP, YNDX
Breakouts SWKS, TXN, AAPL, ADBE, ATVI, EBAY, ROST, AIG, C, CRM, CSIQ, ETFC, JBL, MS, PANW, STI
Diagonal Breakouts – FB, BAC, PYPL


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 MFC green line is down slightly at 63. 

Short-term Chart Targets:
SPY =...211.66
QQQ = 115.47
IWM = 120.99, 123.07…
                   
Support Levels
SPY = 208.56, 207.41
QQQ = 113.65, 112.84
IWM = 118.90, 116.56

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Setups
Horizontal Breakout: QQQ, BABA, CIEN, CRM, CSIQ, MS, NCLH, PLAY, SINA, STI, TSL, V, W, AAPL, ATVI, EBAY, GRMN, INTC, TRIP,
Diagonal Breakout: SPY, BAC, CCL, FAS, JNPR, PYPL, RCL, SUM, SVXY, EA, FB, SBUX,
Bull Flag: AMBA, ETFC, FSLR, NKE, PANW, QRVO, RAX, SLCA, YELP, AMZN, BIDU, GOOGL, ILMN, LLTC, LRCX, MYL, XLNX, YHOO
At Support: JUNO, MPEL,

Moves
New Highs: DAL, AVGO
Bull Flag Bounce: SONC, TSLA
Bounce: GLW,  
Gap Up: DAL, JBLU
Support Break: LNKD, ZION, 

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34 of 100 NDX stocks closed higher and one was unchanged on Monday.

53 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Tuesday:
Moving Above 30 DMA = 5
CHTR, SBUX, SYMC, VOD, WFM

Moving Below 30 DMA = 4
ADBE, ADP, AMGN, VRTX

6-month Intermediate Term Market Trend: Neutral

3-day Short Term Market Trend: Neutral

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