Check out Dave with Tom today at the 121 minute mark link, Click here: https://www.tastytrade.com/#/videos/20111111-fullshow
If you are in the
Dave will also present on Friday 11:15 am – 12:00 pm on Trading the Trend, Knowing When to Exit
All nine sectors moved higher on Friday. XLY +2.52%, XLI +2.38% and XLF +2.36% were the strongest sectors.
The Euro was up 140 pips to 1.3745 at 5 pm EDT on Friday. Bond markets were closed on Friday for Veterans Day. TLT was down 71 cents. Financials XLF was up 30 cents.
The broad indexes moved higher with the RUT +2.64%, INDU +2.19%, COMPQ +2.04%, SPX +1.95% and NDX +1.89 %. The SPX moved up +24.15 to close at 1,263.85. The SPX is currently in a symmetrical triangle.
(click image to enlarge)
The SPX continued Thursday’s support bounce and closed above the high of the inside day creating an entry signal for short term bullish trades. We look for the support bounce to continue next week at least to the 1,277 to 1,292 resistance area. The SPX price target is still 1,363 within the 10 week time window we mentioned when the SPX broke out of the 1,220 resistance area four weeks ago.
Many individual stocks gave a support bounce break above the high of the low day or inside day on Friday. Others are setup for a potential bounce on Monday.
Many individual stocks gave a support bounce break above the high of the low day or inside day on Friday. Others are setup for a potential bounce on Monday.
The VIX moved down -2.77 to 30.04.
AMZN, BIDU, GOOG, PCLN and QCOM moved higher on Friday. AAPL moved lower.
Breadth strengthened as advancers led decliners 6.10 to 1 on the NYSE and 3.56 to 1 on the NASDAQ.
Exchange NYSE NASDAQ
Advancers 2,596 1,941
Decliners 425 545
Leading stocks > +2% on Friday ZAGG, IL, FAS, AKS, FWLT, URE, ATI, ENTR, VECO, CDE, JNPR, SNDK, CLF, CAT, GLW, LVS, SWK, SINA, UAL, CREE, FFIV, DECK, ANR, SWKS, VMW, CIEN, CROX, KKD, SLW, NVDA, SOHU, HAL, ZION, TSL, SLB, NDAQ, WDC, SMH, DE, BAC, COH, DOW, X, UCO, MOS, LNKD, CRUS, TPX, UNP, C, ANF, INFA, NKE, DHR, TIF, V, DLR, IBM, GS, CF, ICE, STI
Losing stocks < -2.0% included MCP, FAZ, LDK
NDX 100 stocks stronger than the NDX included GMCR, SPLS, LRCX, RIMM, WYNN, MU, KLAC, SNDK, ADSK and LINTA.
Stocks weaker than the NDX include ATVI, VRTX, GRMN, AMGN, TEVA and AAPL.
Ten NDX stocks including BBBY, COST, CTRP, EXPE, GILD, MSFT and MU moved above their 30 DMA making 79 NDX stocks above the 30 DMA.
Stocks to Watch on Monday
Holding Above 30 DMA = 55
FFIV, SNDK, NKE, COH, UNP, DHR, DOW, SMH, SWK, TIF, TPX, VMW, JNPR, NGLS, RCL, CAT, DLR, SWN, RVBD, SLB, UCO, AKS, GLW, A, CIEN, URE, ATI, CF, CMG, DE, FCX, HUM, ANR, HAL, PCX, CDE, CLF, SLW, CRM, JDSU, LDK, LVS, X, INFA, MOS, NDAQ, V, CREE, KKD, VECO, CRUS, FAS, IBM, ICE, NVDA
Moving Above 30 DMA = 11
C, CHL, DECK, ENTR, FWLT, GS, HLF, SOHU, STI, WLT, ZION
Moving Below 30 DMA = 1
MCP
Staying Below 30 DMA
ARUN, TLT, TSL, BAC, CSTR, F, GES, IL, NTES, POT, SINA, SWKS, WDC, ZAGG, LNKD, ANF, ESI, TBT, UAL, CROX, FAZ, GRPN
Deleted: GMCR Added: GRPN
Deleted: GMCR Added: GRPN
Five Week Intermediate Term Market Trend: Up
Short Term Market Trend: Up
3 comments:
Dave:
Thanks
Robert
CANI_212
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