Friday, January 22, 2016

Broad Rally Lifts SPX and NDX...Oil Rises Again...

Are you interested in finding strong stocks?  If so, let us know of your interest at chartsignals@yahoo.com.  We can help you find leaders like: SWN, RRC, COG, XLNX, LLTC, MCHP, EQT, ISRG, EA, TWX, FLIR, WMT, STZ, SE ...



All nine sectors moved higher on FridayXLE, XLK and XLF were the strongest sectors while XLI was the weakest sector.  Oil rose $2.17 to close at 32.25.
                         
Breadth strengthened as advancers led decliners 8.35 to 1 on the NYSE and as 4.41 to 1 on the NASDAQ.

Friday – strengthened, advancers led
Thursday- strengthened, advancers led
Wednesday – mixed, decliners led
Tuesday – strengthened, decliners led
Monday – MLK, Jr. Holiday


SPY up 1.04 at 190.52 on 168.3 million shares, 8% above average volume
VIX down 4.35 at 22.34…
TNX up .29 at 20.48…
TLT down .48 at 125.34…on 10.1 million shares, 10% above average volume
XLF up .38 at 21.28…on 48.2 million shares, 15% below average volume

AAPL up 5.12 at 101.42 on 65.8 million shares, 27% above average volume
FB up 3.78 at 97.94 on 30.4 million shares, 13% above average volume

Technical Commentary:
QQQ +2.90%, IWM +2.45%, SPY +2.05%, DIA +1.38%.

Talk is cheap.  Actions speak louder than words.  A chart shows us what the institutions are doing.

                   (click image to enlarge)

The weekly candle shows that institutional buying was strong enough to create a long-tail hammer bullish reversal pattern on the weekly chart.  A falling VIX confirms the SPY bullish pattern.  Over the past two years, prior market rallies were also led by a bullish weekly candle pattern.



Earnings continue on Monday January 25 with MCD.

Earnings this week:
Monday: MCD, HAL, KMB,
Tuesday: DD, JNJ, MMM, PG, AAPL, CA,
Wednesday:  BA, BIIB, LRCX, CTXS, EBAY, FB, PYPL, QCOM, SNDK, TSCO, TXN, UTX, VRTX
Thursday:  CAT, CELG, CHKP, CVX, V, AMGN, AMZN, EA, KLAC, MSFT, SWKS, WDC
Friday:  AAL, PCAR, STX

YTD:
SPX Leaders:  SWN, M, SE, EQT, COG, TWX, FLIR, HAS, RRC, SNI (65)
SPX Losers: FCX, ESV, BWA, AA, MRO, APC, CF, OI, WDC, VRTX
                        
NDX Leaders:  VIAB, DISCK, ISRG, KHC, XLNX, EA, CTSH, ROST, DLTR, FISV (10)
NDX Losers: INCY, WDC, VRTX, STX, MU, LBTYA, ADSK, BMRN, NTAP, NCLH

DJI Leaders:  WMT, VZ, MCD
DJI Losers: AXP, DD, CSCO, BA, JPM, INTC, GS, IBM, CAT, UTX


Remember:  “It’s a market of stocks, not just a stock market.”

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 up at 18. 


__________________

Setups
Horizontal Breakout: M, HAS, SNI, VIAB, CPB, XLNX, EA, CTSH, AA, AIG, CAH, CRM, CRUS, CSIQ, DAL, EAT, FINL, NKE, PLAY, QRVO, SEDG, SLCA, SOHU, SONC, TBT, TPX, TSL, W, WUBA, YELP, AVGO, BIDU, CMCSA, EBAY, MNST,
Diagonal Breakout: DLTR, DPS, KMB, SINA
Bull Flag: FLIR, WEC, TLT, VXX

Moves
New Highs: O, BXLT,
H Breakout: RRC, O, STZ, SPWR, SVXY,
D Breakout: DRI, FSLR, SONC,
Bull Flag Bounce: TWX, EA
Bounce: ROST,
Gap Up: SPY, QQQ, SE, YNDX, COST

______________________

96 of 100 NDX stocks closed higher and three were unchanged on Friday.

13 NDX stock is above its 30 DMA.

NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 9
CTSH, DISCA, EA, ENDP, FISV, MYL, PCAR, QCOM, ROST

Moving Below 30 DMA = 1
LLTC


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

No comments: