SPY Drifts Lower as NDX Breadth Gains Strength...

Three of nine sectors moved higher on Thursday…XLF, XLE and XLI were the strongest sectors.

Breadth strengthened on Thursday as decliners led advancers …2.12 to 1 on the NYSE and 1.58 to 1 on the NASDAQ…

 

SPY down 23 cents at 135.70...volume 178 million shares

VIX +0.07 at 17.99…
TNX unchanged at 15.89…
TLT down 24 cents at 126.49…
XLF up 3 cents at 15.18…volume 69.7 million shares

AAPL down -11.26 at 525.62…volume 28.2 million shares …

FB down 19 cents at`22.17…volume 78.8 million shares…

 

NTAP +3.07, +11.35% gaps up after EPS

PETM +2.63, +4.06% after EPS

DELL, AMAT, ADSK, SHLD, ROST, DLTR, INTU, MRVL, VIAB release earning on Thursday November 15.

 

­­­__________________

Technical Commentary:

The Euro traded to the upside all day and closed up 46 pips at 1.2778.  TNX, interest rates were slightly unchanged and TLT, bonds moved down 24 cents.

XLF was up 3 cents and was the strongest sector.

The Market Forecast Green Line is pointed up in the lower reversal zone and formed a bullish cluster. 

____________________

 

Chart Targets:
SPY = 140.67 short-term resistance
ES = 1,397 short-term resistance
EUR/USD = 1.2876, 1.3020 short-term resistance

Short-term support at
1.2693, 1.2638 = Euro

134.89 = SPY
74.83 = SPXL
1,342.50 = ES
2,513 = NQ

 

Setups:
Bull Flag: VMED, DDS, QCOM, RCL, WHR, F, AOL, SMH, MCO, THC, HCA, TXN, CERN, EXPD, EXPE, CHRW, SBUX, CHL, V, PCAR,  LLTC, CREE, JOE, ROVI, VAR, AAN, TER, ISIL, INGR, AVY, WHR, VMW, WDC, DV, CIEN, JDSU, HNT, AGQ, BTU

EPS Thursday:  DELL, AMAT, ADSK, SHLD, ROST, DLTR, INTU, MRVL, VIAB

Potential MACD Divergence:  DIA, QQQ, GOOG, CTSH, IBM

Moves:

Gap Up: NTAP, DLTR
Gap Down:  LYB, TDG, ROST

 

____________________

54 of 100 NDX stocks closed higher on Thursday…

 

Leading NDX 100 stocks included: NTAP, DLTR, RIMM, SPLS, GRMN, VIAB, FOSL, APOL, AKAM, EA

Lagging NDX stocks included: VRTX, AVGO, XLNX, LRCX, AAPL, GMCR, SIRI, ALTR, NWSA, KLAC

Leading stocks > +2% on Thursday included: GRPN, YELP, ESI, DECK

Lagging stocks < -2.0% included: AKS, CRUS, VECO, TSL, NTES, JNPR, CREE, ANR, UAL, SWKS, CDE, LDK

 

Stocks to Watch on Friday…
Holding Above 30 DMA = 16
YHOO, MYL, ORLY, TXN, CERN, EXPD, NFLX, RIMM, XRAY, PCLN, SBUX, QCOM, HSIC, GILD, DELL, SPLS

 

Moving Above 30 DMA = 3

CSCO, EA, NTAP

 

Moving Below 30 DMA = 5
GMCR, LRCX, MXIM, VMED, XLNX

Staying Below 30 DMA

CHRW, EXPE, ISRG, LLTC, MU, PCAR, SIRI, KLAC, LINTA, SHLD, SRCL, FLEX, STX, WYNN, ADBE, AVGO, CMCSA, INTU, MAT, NWSA, SYMC, ADSK, AKAM, AMAT, AMGN, ATVI, COST, EBAY, FISV, GOLD, LIFE, MCHP, MSFT, NVDA, ORCL, PAYX, PNRA, SNDK, WFM, FOSL, ADP, FAST, INTC, BIDU, EXPD, CTSH, PCAR, SIAL, VIAB, ALXN, CELG, ESRX, MNST, TXN, VRSN, BIIB, GOOG, MYL, CHKP,  APOL, INFY, ORLY, VRTX, AMZN, BMC, FFIV, GRMN, VOD, WCRX, DLTR, DTV, NUAN, AAPL, BRCM, CA, CTXS, SYMC, ALTR, BBBY, KLAC, ROST, MRVL, KRFT

 

Six Week Intermediate Term Market Trend: Down

Short Term Market Trend: Down