All nine sectors moved lower on Monday… XLK, XLV, and XLF were the strongest sectors.
Breadth weakened on Monday as decliners led advancers …1.52 to 1 on the NYSE and 1.23 to 1 on the NASDAQ…
SPY down 71 cents at 141.45...volume 124.6 million shares…
VIX up 0.77 at 16.64…
TNX up 0.22 at 16.28…
TNX up 0.22 at 16.28…
TLT up 11 cents at 124.66…
XLF down 6 cents at 15.70…volume 50.9 million shares
XLF down 6 cents at 15.70…volume 50.9 million shares
AAPL up 0.91 at 586.19…volume 13 million shares …
FB down 0.96 cents at`27.04…on volume of 123.5 million
shares…
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Technical
Commentary:
The SPY
formed a bearish engulfing pattern above its 30 DMA, the
VIX moved up and did confirm the SPY move down.
The ES closed down
8.75 at 1,406.75…NQ futures closed down
7.50 at 2,670.25.
The weight of
the evidence continues to suggest the Nov 16 low is likely to hold and Monday’s price
action on relatively lighter volume suggests a pause/pullback is here prior to a continuation to higher levels .
The Euro closed up 65 pips
at 1.3051 on Monday.
TNX, interest rates
moved higher and TLT, bonds moved up 11 cents. XLF
was 6cents lower at 15.70.
SPY – bearish
engulfing, outside day, support at 30 DMA
AAPL – gap
up black candle, above 30 dma
FB – bearish
engulfing, pause, BO target 29.63
FAS – bearish
engulfing, pause at ST resistance
AMZN – bearish
engulfing, pause, BO target 259.24
EXPE – bearish
engulfing, pause
STX – doji bullish
harami, lower low
VIAB – bearish
engulfing, pause, close below 30 DMA
RIMM – spinning
top, BO setup
CRUS – bearish
engulfing, DBO setup neckline inverse head & shoulders
F – bearish
engulfing, BO setup
PHM – doji, below
30 DMA
SWK – bearish
engulfing, ST support at 30 DMA
SWI – bearish
engulfing, pause
RAX – bearish
engulfing, BO setup above 30 DMA
URI – gap up black
spinning top, BO setup above 30 DMA
YELP bullish harami
inverted hammer, bull flag pull back under 30 DMA
XHB – bearish
engulfing confirm hanging man, BO setup, above 30 DMA
XRT – bearish
engulfing holds above S1, above 30 DMA
BO = breakout, DBO = diagonal breakout, CT = counter-trend, IT =
intermediate term, ST = short term
The Market Forecast Green Line is pointed
up above the lower reversal zone.
____________________
Chart Targets:
SPY = 143.52 short-term resistance
ES = 1,419.50…1,425 short-term resistance
ES = 1,419.50…1,425 short-term resistance
EUR/USD = 1.3076 short-term
resistance
Short-term support at
1.2954, 1.2878 = Euro
1.2954, 1.2878 = Euro
140.69 = SPY
83.20 = SPXL
1,396 = ES
2,626 = NQ
1,396 = ES
2,626 = NQ
Setups:
Bull Flag: COH, CREE, GRPN, NKE, SWK, VMW, YELP, OSK
Bull Flag: COH, CREE, GRPN, NKE, SWK, VMW, YELP, OSK
Horizontal
Setup: ROVI, A, BAC, CHL, CIEN, CRM, F,
FAS, JNPR, LVS, MCP, MOS, RAX, RCL, SMH, URI
Diagonal
Setup: CMG, CRUS, DE, IBM, STI, TER
Moves:
Gap Up: DECK, DELL, AMD
Gap
Down:
Breakout: ULTA,
Bounce:
VRSN, KAR, ROVI
____________________
24 of 100 NDX
stocks closed higher and 2 were unchanged on Monday…
Leading NDX 100 stocks included: VRSN,
DELL, GMCR, GRMN, NTAP, SIRI, SNDK, STX, KRFT, BIIB, WYNN, PCLN, FAST, MYL
Lagging NDX stocks included: NFLX, SPLS, NUAN, MXIM, EA, NVDA, GOLD, VRTX, CA, EXPE, MCHP, MAT, CTXS, EBAY, FOSL, AKAM
Leading stocks > +2% on Monday included: DECK, TSLA
Lagging stocks < -2.0% included: ESI, FB, AKS, TSL, ANR, MOS, ATI
Stocks to
Watch on Tuesday…
Holding Above 30 DMA = 66
YHOO, MYL, ORLY, CERN, RIMM, XRAY, PCLN, SBUX, QCOM, HSIC, GILD, NTAP, CSCO, EXPE, GMCR, VMED, ATVI, CHKP, EA, EXPD, LLTC, MXIM, PCAR, TXN, XLNX, AMGN, BIIB, CELG, DLTR, EBAY, LIFE, SIAL, AMZN, BBBY, FISV, ADSK, ALTR, AVGO, CHRW, DELL, FFIV, MAT, MRVL, MU, ORCL, AAPL, BRCM, INFY, SRCL, BMC, COST, KRFT, MNST, ADBE, ALXN, CMCSA, GOOG, GRMN, NWSA, SYMC, WYNN, AMAT, CTSH, NUAN, PAYX, WCRX
YHOO, MYL, ORLY, CERN, RIMM, XRAY, PCLN, SBUX, QCOM, HSIC, GILD, NTAP, CSCO, EXPE, GMCR, VMED, ATVI, CHKP, EA, EXPD, LLTC, MXIM, PCAR, TXN, XLNX, AMGN, BIIB, CELG, DLTR, EBAY, LIFE, SIAL, AMZN, BBBY, FISV, ADSK, ALTR, AVGO, CHRW, DELL, FFIV, MAT, MRVL, MU, ORCL, AAPL, BRCM, INFY, SRCL, BMC, COST, KRFT, MNST, ADBE, ALXN, CMCSA, GOOG, GRMN, NWSA, SYMC, WYNN, AMAT, CTSH, NUAN, PAYX, WCRX
Moving Above
30 DMA = 1
SIRI
Moving Below 30 DMA = 6
ADP, FOSL, INTU, NFLX, SPLS, VIAB
Staying Below 30 DMA
CTXS, LRCX, NVDA, ISRG, WFM,
KLAC, LINTA, SHLD, FLEX, STX, AKAM, GOLD, MCHP, MSFT, PNRA, SNDK, FAST, INTC,
BIDU, ESRX, VRSN, APOL, VRTX, VOD, DTV, CA, ROST
Fourteen Week
Intermediate Term Market Trend: Neutral
Short Term
Market Trend: Neutral
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