Friday, January 6, 2017

SPY, DIA, QQQ Hit a New All-time Closing High...SPY, QQQ Horizontal Breakout...VIX Lower Confirms SPX High...


Sector Trend Strength:
Up Trend: XLF, XLI, XLB, XLY, XLE, XLK, XLP, XLRE
Sideways: XLV, XLU
Down Trend:

YTD 4
Leading Sectors: XLV +2.92%, XLY +2.36%, XLK +2.15%, XLRE +2.11%, XLB +1.85%,
SPY +1.65%,
Lagging Sectors: XLI +1.48%, XLF +1.25%, XLP +0.79%, XLE +0.76%, XLU +0.54%,


Breadth strengthened as decliners led 1,584 to 1,431 on the NYSE and led 1,508 to 1,251 on the NASDAQ.

Friday – strengthened, decliners led, +9
Thursday – weakened, decliners led, +5
Wednesday – strengthened, advancers led, +8 sectors
Tuesday – strengthened, advancers led, +9
Monday – New Year’s Holiday Observance

Oil futures were down .06 to close at 53.70 on Friday.  


SPY up .81 at 227.21 on 71.5 million shares, 13% below average volume,
VIX down .35 at 11.32
TLT down 1.12 at 120.86…on 8.3 million shares, 17% below average volume

Technical Commentary:
QQQ +0.88%, DIA +0.38%, SPY +0.36%, IWM -0.37%,

SPY, DIA and QQQ all made a new all-time closing high on Friday.  QQQ and SPY gave a horizontal breakout entry on Friday while DIA is still a horizontal resistance breakout setup.

Q4 earning’s season starts next week.


SPX up 8 at 2,277

SPX  gainers ILMN, AES, EBAY, TRIP, ALXN, WAT, A, ADSK, HPM, MDT, MON, ABT, KSU, AMGN, MTD, IPG, FB, ADBE, SRCL, CNP, WMB, IDXX, JCI, AMZN, XLNX, FCX, BDX, AIG, STZ, AME, FOXA, SPGI, NAVI, MCHP, TDG, AMP, TXN

QQQ made a new all-time closing high at 121.93.
  
NDX point leaders: AMZN, AAPL, FB, MSFT, GOOG, AMGN, TXN, ADBE, EBAY, ALXN, ILMN, AVGO and SBUX


Earnings this week:
Monday – AYI, GPN, CMC
Tuesday
Wednesday – KBH
Thursday – DAL

Friday – BAC, BLK, JPM, PNC, WFC

2016 Q4 EPS
EPS Positive Reactions
MU, CAG, NKE, KMX, CCL, JBL
EPS Negative Reactions
STZ, RHT, BBBY, FINL, AGN, FDX, GIS, ADBE



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

Follow your rules and look for potential re-entry if you were stopped out of any profitable trades.

Remember breakouts typically test about 70% of the time.

Technical analysis based trades should be closed before earnings.

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: ADP, MU, NVDA, XLNX, AVGO, MAR, LRCX, INTC, KLAC, PAYX, SOXL, ALK, CFG, JPM, C,

One Day Pullback: STLD, NTES, NFLX, TLT, ETFC,

Bull Flag Bounces include: CTXS, TXN,


At Support Setups include: MSFT, ZION, USB, DAL, LUV, AMAT, TSCO, BHI, AAL, CAR, FAST, ADI, HES, TRV, CC, UPS, ROST, WBA, APA, BBY, STX, DISCA, TMUS, ATI, EA

Support Bounce: MCD, SBUX,

Horizontal Breakout Setups include: DIA, IWM, FAS, FTI, NTES, ATVI, AAPL, CCL, WDC, CSX, GS, BA, SBUX, PCAR, PWR, X, AKS, NCLH, CMCSA, COST, CE, NUE, GM, F, MGM, STI, ADP, TLT, ADSK, NUE, MMM, CMA, MS, RCL, HBAN, KEY, RF, HIG, ICE,

Horizontal Breakouts include: QQQ, EBAY, FB, ADBE, AMZN, GOOG, SPY, SQ, UTX, AKAM, FISV, CHTR, CHKP, PCLN, GOOG, LNG, HAL, GD

New Highs include: QQQ, SPY, TSLA, DE, NFLX, XLV, XLRE, SCHW, HAL, ETFC,   


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YTD: 4
SPX Leaders:  FCX, FTR, AA, NRG, ABC, TSS, CNC, CRM, GPN, RIG (387, > 10p 5)
SPX Losers:  KSS, M, LB, SIG, SWN, JWN, TSO, DR, URBN, TRV

NDX Leaders:  ALXN, MAT, ILMN, TRIP, LBTYA, INCY, VRTX, VIAB, VOD, BIDU, (89, >10p 3)
NDX Losers:  NVDA, REGN, XLNX, QVCA, ADI, TMUS, KHC, AAL, FAST, TSCO

DJI Leaders:  NKE, V, DIS, PFE, UTX, MRK, GS, BA, IBM, AXP, (20, >10p 0
DJI Losers:  TRV, XOM, WMT, MCD, CVX, HD, VZ, PM, MMM, DD


The SPY MFC green line is in the upper zone at 86 bullish. 


63 of 100 NDX stocks closed higher on Friday.

76 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 7
AVGO, INTU, KLAC, LVNTA, MXIM, PCLN, TXN

Moving Below 30 DMA = 3
REGN, STX, TMUS


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

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