Friday, November 11, 2016

IWM Leads Indexes...NVDA Spikes on Strong EPS Beat, Leads SPX, NDX, SOX...

Five of ten sectors moved higher on FridayXLY, XLK and XLF were the strongest sectors while XLE was the weakest sector.  Oil futures fell 1.17 to close at 43.12.

For the week ended November 4, seven of ten sectors moved higher.
XLF +11.19%, XLI +8.11%, XLV +6.03%, XLY +3.90%, XLB +3.77%,
SPY +3.77%,
Lagging sectors XLE +2.49%, XLK +1.19%, XLRE -1.24%, XLP -2.07%, XLU -4.00%,

YTD 219
Leading Sectors: XLI +15.17%, XLE +15.15%, XLF +11.99%, XLB +10.89%, XLK +9.11%, XLU +6.35%,
SPY +6.16%,
Lagging Sectors: XLY +1.99%, XLP +0.10%, XLV -2.14%, XLRE -5.95%


Breadth strengthened as advancers led 1,653 to 1,397 on the NYSE and led 1,961 to 828 on the NASDAQ.

Friday – strengthened, advancers led, +5
Thursday – weakened, advancers led on NASDAQ, +6
Wednesday – strengthened, advancers led, +6
Tuesday – weakened, advancers led, +10
Monday – strengthened, advancers led, +10


SPY down .50 at 216.42 on 100.5 million shares, 4% above average volume
VIX down .57 at 14.17
TLT down .69 at 122.04…on 10.0 million shares, 12% above average volume

Technical Commentary:
IWM +2.30%, DIA +0.18%, QQQ +0.05%, SPY -0.23%,


IWM breaks horizontal resistance to new all-time high
DIA and IWM at new highs in uptrend
DIA made a new closing high at 188.47
SPY and QQQ in sideways trend
SPX pulls back 2 points to 2,164
VIX did not confirm the SPX pullback
SPY average volume
TLT again had high selling volume
Money continued to rotate from bonds and into stocks

NVDA +20.20, +29.81% beat eps .94 vs. .57 estimate, beat revenues $2 billion vs. $1.69 billion estimate, raised revenue guidance.

Steel stocks X, AKS, SCHN and ATI continued their rally on Friday.

Airline stocks SKYW, AAL, DAL, SAVE and UAL continued their strong short-term uptrend on Friday.


SPX Leaders: NVDA, GCI, JWN, KSS, URBN, MU, GM, KMX, RVO, COL, WDC, HRB, TSCO, RHI, KEY, FITB, STX, VNO, LUK, DIS,F, ETFC, SYF, CMA, HST, WU, SCHW, AMAT, COF, RF, SNI, HPQ, MCSA, M and KR


EPS Positive Reactions
NVDA, QVCA, PCLN, JCI, MAR, SYY, FDC, RACE, CTSH, PCLN, LVS, UBNT, SLCA, SBUX, MCHP, FOSL, CAR, RIG, DDD, YELP, SHOP, ABC, SQ, HSIC, ZTS, DVN, NBL, ANTM, ADP, EA, VRSK, ADM, HRS, MOS, CHKP, COH, TSO, RCL, HBI, SRCL, HSY, EMN, VRSN, UBS, BIDU, CRUS, EXPE, MO, CVX, FFIV, WDC, COP, DOW, AKAM, JNPR, BA, NCR, OI, FLIR, ROL, TSS, LMT, KEY, FCX, VLO, BHI, SAVE, AKS, TMUS, MCD, PYPL, MSFT, MXIM, AXP, SNA, MAT, BK, STLD, WBA, ALK, URI, HAL, MS, USB, NFLX, HOG, UNH, GS, CE, DPZ, CMA, UAL, HAS, DAL, CSX, COST, RHT, FDX, ADBE

EPS Negative Reactions
TRIP, CVS, ENDP, NWSA, ALB, IFF, EXPD MNST, ATVI, FSLR, WYNN, CS, APA, FB, UVE, AIG, CHTR, PAYC, DATA, CAVM, BABA, X, GILD, HLF, ILMN, NFX, DO, SCTY, AMZN, MCK, ABC, CAH, GT, ABBV, LM, COG, CA, AMGN, AET, LITE, XOM, CLF, ORLY, NEM, POT, AAPL, EW, CMG, LUV, CMCSA, UA, P, WHR, PNRA, JBLU, GM, MMM, NLSN, WAT, SHW, MAS, PNR, MCO, EBAY, TRV, LRCX, TSCO, INTC, ISRG, ST, JNJ, IBM, AA, FAST, ILMN, MU, PAYX, CCL

EPS Neutral Reactions
SWKS, LBTYA, CI, QCOM, FOXA, GOOGL, PSX, SKYW, BX, CA, TWTR, UPS, TSLA, MO, NXPI, STT, GD, KO, ESRX, VRTX, PCAR, AAL, NUE, XLNX, CTXS, LLTC, BAC, C, JPM, PNC

Consider moving up stops on short term bullish trades that could pull back.  All according to your profit protection rules.

Remember breakouts typically test about 70% of the time.

Technical analysis based trades should be closed before earnings. After-hours

Trade what you see, not…

Stocks below support should generally be traded bearishly until a reversal pattern forms.


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Strong Stocks: Setups and Moves You Can Use
Bull Flag Setups include: AKAM, PYPL, SQ, EXPE, HSY, QCOM, MXIM, VRSN,

Bull Flag Bounces include:

Horizontal Breakout Setups include: SAVE, ULTA, ALK, HAS, CMCSA, CCL, NCLH, DLTR, PCAR, COST
,

Horizontal Breakouts include: ALK, CMCSA, WFC, BBBY, TMUS, SAVE, LUV, CCL,

New Highs include: GS, DAL, AKS, JPM, STI, X, SCHN, MS, BAC, USB, ZION, CMA, CE, RCL, UAL, AAL, CC, STLD, MLM, NUE, C,

Horizontal Break of Support Setups include: CAVM, JD, TSLA, MDLZ,

Break of Support: NEM, NTES, NFLX, AMZN, CTRP, BIDU, MSFT, TRIP, ATVI, CERN,


______________________

Short-term Movers for the week:
SPX gainers:  NAVI, URI, AMP, FCX, KSS, FOSL, MNK, LNC, MLM, GCI, RF, CSRA, SPLS, ZION, URBN, NUE, ETFC, MS, ENDP, SCHW, JWN, AA, KEY, LUK, WFC, GS, RHI, HUM, FITB, DFS, HBN, SYF, PH, VMC, BAC, MET, CMA, TXT, PRU, JPM, CFG, CAT, JEC, GPS, UNM, R, STI, PBCT, ABBV, GD, AET, EMR, M, LLL, ANTM, AYI, ROK,  ABC, IVZ, PNC, MOS, PWR, JBHT, MTV, RTN, XYL, CME, FLS, NTRS, COF, ETN, SIG, TROW, SYY, BMY, GWW, AIG, XL, IR, CMI, NSC, BEN, TIF, TMK, +10, 95,  +4, 256
SPX losers:  CAG, CNC, NEM, COTY, ADM, CVS, EXC, IFF, NEE, EFX, HCA, VTR, AES, PM, KSU, AMT, CCI, SRT, PLD, FE, SYK, HCN, AIV, O, DHI, ZBH, ETR, HCP,  DPS, WEC, SO, EQIX, HRL, STZ, ED, D, MO, -4, 44

NDX gainers:  NVDA, REGN, INCY, ENDP, VRTX, CELG, BIIB, BBBY, SHPG, STX, FAST, CSX, BMRN, NTAP, QVCA, AMGN, ESRX, CMCSA, CHTR, TSCO, PCAR, MYL, LMCA, PCLN, AAL, WDC, TMUS, SYMC, ADSK, MU, INTU, DLTR, PAYX, GILD, MRA, SIRI, VIAB, COST, WF, ULTA, CA,  +4, 43
NDX losers:  TRIP, ALXN, ISRG, CERN, MNST, SBAC, NFLX, ATVI, -4, 8,

YTD: 219
SPX Leaders:  FCX, OKE, NEM, MLM, URN, SE, CMI, PWR, HPE, PVH, (341, +42, > 10p 214, +36)
SPX Losers:  FSLR, GCI, PRGO, AGN, FTR, HRB, LB, AN, MCK, COTY

NDX Leaders:  NVDA, AMAT, CHTR, TMUS, QCOM, CSX, NTES, ULTA, NTAP, TXN, (57, +2, >10p 34, +1)
NDX Losers:  ENDP, ALXN, TRIP, SRCL, NCLH, MYL, ILMN, LBTYA, VRTX, QVCA

DJI Leaders:  CAT, UNH, MRK, CVX, IBM, MMM, WMT, JPM, CSCO, JNJ (23, +5, >10p 12, +3)
DJI Losers:  NKE, DIS, KO, MCD, TRV, HD, GE 


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


The SPY MFC green line is pointed up at 75, bullish

55 of 100 NDX stocks closed higher on Friday.

56 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 9
CA, COST, DISCA, HSIC, MU, NTAP, NVDA, ROST, TXN

Moving Below 30 DMA = 3
ALXN, EXPE, NFLX

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

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