Thursday, November 10, 2016

Small Caps and Large Capse Sizzle while Tech Stocks Fizzle...


Six of ten sectors moved higher on ThursdayXLF, XLI and XLB were the strongest sectors while XLP was the weakest sector.  Oil futures fell 1.05 to close at 44.29.


Breadth weakened as decliners led 1,660 to 1,432 on the NYSE and advancers led 1,719 to 1,083 on the NASDAQ.

Thursday – weakened, advancers led on NASDAQ, +6
Wednesday – strengthened, advancers led, +6
Tuesday – weakened, advancers led, +10
Monday – strengthened, advancers led, +10
Friday – strengthened, advancers led, +4


SPY up .54 at 216.92 on 172.1 million shares, 78% above average volume
VIX up .36 at 14.74
TLT down 1.84 at 122.73…on 22.9 million shares, 155% above average volume

Technical Commentary:
IWM +1.60%, DIA +1.1.17%, SPY +0.25%, QQQ -1.61%,


SPX gains 4 points to 2,167, finding resistance near Sep 22 high at 2,182
VIX did not confirm the SPX rise
SPY above average volume
TLT again had high selling volume
Money continued to rotate from bonds and into stocks
DIA made a new closing high at 188.13

Steel stocks AKS, ATI, STLD, CLF, NUE, and SCHN were among the leaders again on Thursday.

Airline stocks SKYW, JBLU, SAVE, LUV, ALK and DAL continued their strong short-term uptrend on Thursday.

NDX point losers: AAPL, AMZN, MSFT, GOOG, FB, KHC, MDLZ, NFLX, QCOM, AVGO, ADBE, CSCO and NTES


SPX Leaders: KSS, FOSL, CSRA, AMP, WFC, ENDP, JWN, NAVI, PRGO, HBAN, BBBY, SPLS, CMG, AMG, ZION, GM, URBN, M, FCX, FR, AYI, DFS, MOS, ABC, ETFC, PNR, CFG, PVH, MET, PNC, JPM, SYF, SCHW, PRU, CME, EMR, BAC, SWK, GS, GPS, PFE, KMX, MS, XYL, MC, PCAR, STX, DG, RL, IVZ, R, ANTM, FLS, ILMN and C


EPS Positive Reactions
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
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: WDC,

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

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

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

Horizontal Break of Support Setups include: NEM, CAVM, JD, TSLA, MDLZ, NVDA, PYPL, EXPE, QCOM,

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


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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 62, bullish

37 of 100 NDX stocks closed higher on Thursday.

50 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 6
BBBY, CMCSA, DLTR, NCLH, PAYX, STX

Moving Below 30 DMA = 16
AMAT, AVGO, DISH, GOOG, HSIC, LBTYA, LRCX, LVNTA, MAT, MDLZ, MXIM, NVDA, PYPL, QCOM, SWKS, TXN

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

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