Wednesday, November 9, 2016

Stock Futures Reverse Overnight Collapse after Trump Win...Steel and Financial Stocks Soar...


Six of ten sectors moved higher on WednesdayXLF, XLV and XLI were the strongest sectors while XLU was the weakest sector.  Oil futures rose .51 to close at 45.34.


Breadth strengthened as advancers led 1,697 to 1,383 on the NYSE and led 2,036 to 771 on the NASDAQ.

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


SPY up 2.27 at 216.38 on 258.4 million shares, 187% above average volume
VIX down 4.36 at 14.38
TLT down 5.52 at 124.57…on 31.2 million shares, 302% above average volume

Technical Commentary:
IWM +3.08%, DIA +1.41%, SPY +1.06%, QQQ +0.46%,

Futures reverse overnight collapse and stock indexes finish higher after unexpected Trump win Tuesday night.

SPX gains 23 points to 2,163, moving towards all-time highs
VIX confirms the SPX rise
SPY had its highest buying volume day since Aug 2015
TLT had its highest selling volume day since Aug 11, 2011
Clearly money rotated from bonds and into stocks
DIA hit a new closing high at 185.96

Steel stocks X, CLF, AKS, NUE, STLD, ATI, and SCHN gapped up with gains between 6% and 17% on Wednesday.
Airline stocks SKYW, SAVE, AAL, DAL, UAL, JBLU, LUV and ALK continued their strong short-term uptrend on Wednesday.

NDX point leaders: CELG, AMGN, GILD, BIIB, REGN, ESRX, VRTX, CMCSA, INCY, CHTR, TMUS, CSCO, ALXN, CSX and SHPG


SPX Leaders: NAVI, URI, REGN, AMP, BEN, ENDP, NUE, VRTX, MLM, CELG, MNK, FLR, VMC, JEC, ABC, LNC, AA, AGN, CHK, MCK, BIIB, FCX, LLL, CAT, UNM, COG, RTN, FAST, TROW, MET, MS, PFE, ESRX, ZION, VLO, ALXN, ABBV, HBAN, MRK and CME



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, NEM, SQ, NFLX, EXPE, HSY,

Bull Flag Bounces include: NVDA, WDC, QCOM, MXIM, VRSN, NTES,

Horizontal Breakout Setups include: SAVE, ULTA, LUV, ALK, MXIM, TMUS, MSFT, DPZ, HAS, CMCSA, MDLZ, CCL,

Horizontal Breakouts include: X, SCHN, MS, BAC, USB, ZION, C, CMA, CE, RCL, STI, TMUS, PCAR, BIDU,

New Highs include: GS, DAL, UAL, AAL, CC, STLD, MLM, AKS, NUE, JPM,

Horizontal Break of Support Setups include: NCLH, AMZN, CAVM, DLTR, JD, TSLA, CTRP,

Break of Support: TRIP, DO, ATVI, COST, BBBY, 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 43, bullish

30 of 100 NDX stocks closed higher on Wednesday.

60 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 12
ALXN, BMRN, GILD, LMCA, LVNTA, MYL, PCAR, REGN, SHPG, SYMC, TSCO, WBA,

Moving Below 30 DMA = 4
ADBE, KHC, MU, NCLH,

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

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