Thursday, December 10, 2015

Stocks Break 3 Day Losing Streak...Rise Modestly...Helped By Energy Stocks...JCP Upgraded...

Eight of nine sectors moved higher on ThursdayXLV, XLE and XLI were the strongest sectors while XLU was the weakest sector

Breadth strengthened as decliners led advancers 1.01 to 1 on the NYSE and strengthened 1.15 to 1 on the NASDAQ where advancers led decliners.

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


SPY up .53 at 205.87 on 114.2 million shares
VIX down .27 at 19.34…
TNX up .31 at 22.39…
TLT up .16 at 121.84…on 5.4 million shares
XLF up .02 at 23.98…on 47.2 million shares

AAPL up .55 at 116.17 on 28.9 million shares
FB up .82 at 105.42 on 17.3 million shares

Technical Commentary:
DIA +0.51%, QQQ +0.45%, IWM +0.33%, SPY +0.26%.

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 at 48. 

Short-term Chart Targets:
SPY =...209.976
QQQ = 115.47
IWM = 117.93…
                   
Support Levels
SPY = 204.75
QQQ = 111.84
IWM = 113.36

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Setups
Horizontal Breakout: EXPE, INTC, TRIP,    
Diagonal Breakout: CCL, RCL, SEDG, SOHU, SONC (long term), VXX, YNDX, FB, ILMN, SBUX,
Bull Flag: CRUS, GOGO, KWEB, NTES, PANW, VRSN, ADBE, ADSK, ATVI, AVGO, GOOGL, JD, MNST, MSFT, NFLX, NVDA
At Support: C, FAS, MS, BIDU

Moves
H Breakout: W
Bull Flag Bounce: CSIQ, DAL, QRVO, SCHW, SLCA, STI, YELP, MYL, TSLA,   
MACD Divergence Bounce:   
Bounce: IWM, QQQ, AA, AMBA, LNKD, NCLH, ZION, AAPL, CMCSA, COST, EBAY, LRCX,
Gap Up:
Gap Down: CIEN, FSLR
Support Break: JNPR, SINA, SPWR,  

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69 of 100 NDX stocks closed higher on Thursday.


41 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 7
AAL, AMGN, CA, COST, SBUX, SNDK, STX

Moving Below 30 DMA = 2
BIDU, HSIC

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

1 comment:

Gary said...

Dave,

Hope all is well with you and your family. I sure miss your live coaching and especially the time you sacrifice mentoring so many students. But when you lose most of your retirement and children's savings to the market you have to know when to say "when"! Didn't know if you were aware that Dwight Anderson had a blog going again so I thought I'd pass it on here for some of the old timers and newcomers alike. I hope you don't mind, but I know you had respect for him when you worked together and last I knew were still friends. I'm going to sit down and gather my thoughts for a lengthy email to you and I hope you take the time to read it. I think it's important for students to know the challenges they face in the market and it's not as easy as the sales team makes it out to be. I won't go on here so here's the link: http://dwightanderson.blogspot.com/

Take care my friend,

Gary