Thursday, December 3, 2015

Stocks Sell Off...FED Gives A Nod To Raise Interest Rates...ULTA Beats Earnings Gains 6.93% In After Market Trading...

All nine sectors moved lower on ThursdayXLP, XLU and XLB were the strongest sectors while XLV was the weakest sector

Breadth weakened as decliners led advancers 4.72 to 1 on the NYSE and 3.21 to on the NASDAQ.

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


SPY down 2.92 at 205.61 on 166 million shares
VIX up 2.20 at 18.11…
TNX up 1.52 at 23.30…
TLT down 3.34 at 119.53…on 16.6 million shares
XLF down .40 at 24.14…on 48.1 million shares

AAPL down 1.08 at 115.20 on 41.5 million shares
FB down 1.69 at 104.38 on 23.2 million shares

Technical Commentary:
QQQ – 1.70%, IWM -1.69%, SPY –1.40%, DIA -1.39%.


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 pointed down at 64. 

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: RUN, UBNT, GMCR, TRIP,  
Diagonal Breakout: PLAY, ATI, SSYS, TXN,
Bull Flag: IWM, AIG, AMBA, CIEN, ETFC, JBL, JUNO, SCHW, AXTA, BBRY, FOGO, LITE, MFRM, ATVI, BIDU, GRMN, ILMN, INTC, LRCX, MNST, MYL, NVDA, XLNX,
Potential Bullish Divergence: 
Gap Up:
Gap Down: 
Bear Flag:  
At Support: GLW, UA, FEYE, HOG, SPLK, SBUX,
C- Pattern

Moves
New Highs: VRSN,  
H Breakout: FIT, JASO,  
D Breakout:  
Bull Flag Bounce:  
MACD Divergence Bounce: TWTR,  
Bounce: VXX,  
Gap Up: AVGO, COST,
Gap Down:
C- Pattern:    
Bear Flag:  
Support Break: SPY, QQQ, CCL, FAS, LNKD, NKE, RCL, BX, CMCSA, EBAY, GILD, LLTC, ORLY,  

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10 of 100 NDX stocks closed higher on Thursday.

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


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