DJIA + 73.00 +0.72%
SP500 + 6.24 +0.57%
COMPQ + 18.86 +0.88%
Russell 2000 + 5.96 +1.03%
Exchange NYSE NASD
Advancing 2,211 1,805
Declining 798 894
Oil $76.35 -0.59
Gold $1,116.80 +10.20
SOX 317.50 +3.50
VIX 23.36 -0.88
The VIX moved down and did confirm the move up in the SPX on Friday. The SOX moved up and did confirm the move up in the COMPQ.
Strongest Sectors: XLY +1.75%...XLK +0.92%...XLU +0.89%
Weakest Sectors: XLF -0.20%...XLV +0.20%...XLB +0.38%
Eight of nine sectors moved higher on Friday. Consumer Discretionary, Technology, Utilities, Industrials, Consumer Staples and Energy were stronger than the SPX +0.57%.
Financial stocks stronger than XLF -0.20%: AXP, ZION, RF, AFL, SCHW, SPG, PRU, ICE, CB, BK, TRV, MS, AOC, ALL, IVZ and ETF UYG.
Tech stocks stronger than XLK +0.92%: ADBE, QCOM, ORCL, CSCO, GLW and AAPL.
Sector Watch
Up Trending: XLK, XLB, XLY, XLV, XLP, XLE
Horizontal Breakout: XLF, XLI, XLU
Sideways:
Down Trending:
Key Resistance Levels:
1,100 = October High
1,133 = Sep 08 Low
Key Support Levels
1,082 = Monday S1 level
1,075 = 875 Breakout Chart Target
1,061 = Sep 16 S1 level
1,056 = Sep 25 R1 level
1,044 = October Horizontal Old Resistance
After a strong trend day on Monday the SPX crept to 1,105 where sellers took over Wednesday and Thursday sending the SPX 20 points lower to 1,085. On Friday buyers took control moving the SPX to 1,097 until sellers moved the SPX lower. SPX closes at 1,093.48, +6.24 points or +0.57%.
(click image to enlarge)
Price did not follow through to the down side after Wednesday’s shooting star was confirmed on Thursday. The SPX rallied for its second highest close in November while staying inside its horizontal channel.
Buyers were the net winners on Friday. After sellers threw the SPX to the mat on Thursday, buyers moved prices higher on Friday keeping the SPX above it 1,082 short term support level. This is looking more like the previous five horizontal price channels since June. Keep in mind that the prior channels traded between support and resistance for six to ten days before breaking below support. Thursday is just day four.
Options expiration is next Friday, November 20.
Strong stocks ADP, AKAM, AMZN, CREE, CTSH, DISH, DTV and SBUX continue to be strong and will likely benefit if the SPX breaks out of horizontal resistance.
(click image to enlarge)
Stocks ADBE, ACN, BUCY, CHKP, ESRX, JOYG, LIFE, VRTX, CAT, FCX and NKE continue to trade near resistance.
Guidance: The intermediate term trend is up and Friday’s price action kept the short term trend neutral.
The SPX rallied from 1,085 staying about short term support to close at 1,093.48. Continue to watch for a break of support below Tuesday’s low and Monday’s S1 level which could take several more days. Also if a breakout of resistance does occur...trade it according to your rules for a likely move to the next resistance level.
The SPX is still a Yellow Alert for short term traders who use the break of the horizontal channel or a break of the recent S1 for their signal.
While it is important to be aware of the trend, support and resistance and momentum of the broad market, SPX, focus on and trade the chart of the stocks you watch and follow your rules.
AAPL +2.46
QCOM +0.92
GOOG +4.20
BIDU +5.35
NDX 100 stocks stronger than the NDX include: SHLD, JNPR, MRVL, JOYG, URBN, AKAM, RYAAY, INFY, NTAP, DTV, FSLR, ADBE, HANS, NWSA, ATVI, WYNN, QCOM, FWLT, CA, CTXS, AMZN, ISRG, BRCM, CEPH, HOLX, CTSH, GRMN, STLD, MXIM, ORCL, CSCO, BIDU, AAPL, DISH, PCAR, SPLS, CHKP, ORLY, JBHT, CERN, LRCX, LOGI, XRAY, ADSK, MCHP and MSFT.
Stocks to Watch on Monday
Leading Stocks
Holding Above 30 DMA
K, JW.A, DECK, VPRT, AMZN, SLGN, NFLX, MCD, ICE, DLB, FAZ, RCI, ESRX, MHS, WCG, ALGT, BDX, BYI, VAR, ACN, JOYG, ATW, CTSH, HLF, SNA, AFAM, AMX, GR, SNHY, SYNA, WMT, AAPL, BLUD, CAM, DLTR, DV, GILD, HDB, ORCL, RBN, WAB, PWRD, BIDU, EZPW, GES, PCLN, FLS, GXDX, PCP, URE, MON, USD, BIIB
Moving Above 30 DMA = 1
CPLA
Moving Below 30 DMA = 2
MOS, EBAY
Staying Below 30 DMA
CLB, GMCR, JCOM, MUR, PPD, RIMM, WRC, FAS, UYG, SWN, JEC, DV, FAZ, BKC, HANS, TDG, GPRO, STRA, TRLG, AMED, FSLR, APEI, PWR, NIHD, JOSB, SPWRA, ESI, BAP, CHL, GME, PETS, X, PSYS, NTLS, FUQI, CBST, MYGN
Intermediate Term Market Trend: Up
Short Term Market Trend: Neutral
Price did not follow through to the down side after Wednesday’s shooting star was confirmed on Thursday. The SPX rallied for its second highest close in November while staying inside its horizontal channel.
Buyers were the net winners on Friday. After sellers threw the SPX to the mat on Thursday, buyers moved prices higher on Friday keeping the SPX above it 1,082 short term support level. This is looking more like the previous five horizontal price channels since June. Keep in mind that the prior channels traded between support and resistance for six to ten days before breaking below support. Thursday is just day four.
Options expiration is next Friday, November 20.
Strong stocks ADP, AKAM, AMZN, CREE, CTSH, DISH, DTV and SBUX continue to be strong and will likely benefit if the SPX breaks out of horizontal resistance.
(click image to enlarge)
Stocks ADBE, ACN, BUCY, CHKP, ESRX, JOYG, LIFE, VRTX, CAT, FCX and NKE continue to trade near resistance.
Guidance: The intermediate term trend is up and Friday’s price action kept the short term trend neutral.
The SPX rallied from 1,085 staying about short term support to close at 1,093.48. Continue to watch for a break of support below Tuesday’s low and Monday’s S1 level which could take several more days. Also if a breakout of resistance does occur...trade it according to your rules for a likely move to the next resistance level.
The SPX is still a Yellow Alert for short term traders who use the break of the horizontal channel or a break of the recent S1 for their signal.
While it is important to be aware of the trend, support and resistance and momentum of the broad market, SPX, focus on and trade the chart of the stocks you watch and follow your rules.
AAPL +2.46
QCOM +0.92
GOOG +4.20
BIDU +5.35
NDX 100 stocks stronger than the NDX include: SHLD, JNPR, MRVL, JOYG, URBN, AKAM, RYAAY, INFY, NTAP, DTV, FSLR, ADBE, HANS, NWSA, ATVI, WYNN, QCOM, FWLT, CA, CTXS, AMZN, ISRG, BRCM, CEPH, HOLX, CTSH, GRMN, STLD, MXIM, ORCL, CSCO, BIDU, AAPL, DISH, PCAR, SPLS, CHKP, ORLY, JBHT, CERN, LRCX, LOGI, XRAY, ADSK, MCHP and MSFT.
Stocks to Watch on Monday
Leading Stocks
Holding Above 30 DMA
K, JW.A, DECK, VPRT, AMZN, SLGN, NFLX, MCD, ICE, DLB, FAZ, RCI, ESRX, MHS, WCG, ALGT, BDX, BYI, VAR, ACN, JOYG, ATW, CTSH, HLF, SNA, AFAM, AMX, GR, SNHY, SYNA, WMT, AAPL, BLUD, CAM, DLTR, DV, GILD, HDB, ORCL, RBN, WAB, PWRD, BIDU, EZPW, GES, PCLN, FLS, GXDX, PCP, URE, MON, USD, BIIB
Moving Above 30 DMA = 1
CPLA
Moving Below 30 DMA = 2
MOS, EBAY
Staying Below 30 DMA
CLB, GMCR, JCOM, MUR, PPD, RIMM, WRC, FAS, UYG, SWN, JEC, DV, FAZ, BKC, HANS, TDG, GPRO, STRA, TRLG, AMED, FSLR, APEI, PWR, NIHD, JOSB, SPWRA, ESI, BAP, CHL, GME, PETS, X, PSYS, NTLS, FUQI, CBST, MYGN
Intermediate Term Market Trend: Up
Short Term Market Trend: Neutral
1 comment:
Dave maybe you could call this the "Body Slam" candle stick formation...
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