All nine
sectors moved higher on Monday… XLF, XLY, and XLU
were the
strongest sectors.
Breadth strengthened on Monday as advancers led decliners …2.01 to 1 on the NYSE and 2.13 to 1 on the NASDAQ…
Friday – strengthened, decliners led
Thursday – weakened, decliners led
Wednesday – weakened, decliners led
Tuesday – strengthened, advancers led
NDX 100 annual
changes to take effect prior to the open on Monday, Dec. 24, 2012:
Additions: ADI, CTRX, DISCA, EQIX, LBTYA, LMCA, REGN,
SBAC, VRSK, WDC
Deletions: APOL, EA, FLEX, GMCR, LRCX, MRVL, NFLX,
RIMM, VRSN, WCRX
SPY up 1.66 at 143.77...volume 133.8 million shares…
VIX -0.66 at 16.34…
TNX +0.55 at 17.63…
TNX +0.55 at 17.63…
TLT down -1.85 at 121.75…
XLF up 33 cents at 16.33…volume 69.1 million shares
XLF up 33 cents at 16.33…volume 69.1 million shares
AAPL up 9.03 at 518.83…volume 27 million shares …
FB down 6 cents at`26.75…on volume of 57.7 million
shares…
__________________
Technical
Commentary:
The SPY formed a gap up bullish engulfing in a bull flag bounce as many stocks bounced in a bull flag bounce. The VIX closed lower and did confirm the SPY move up today.
The SPY formed a gap up bullish engulfing in a bull flag bounce as many stocks bounced in a bull flag bounce. The VIX closed lower and did confirm the SPY move up today.
The ES closed up
13.00 at 1,427.25 and NQ futures closed up 32.25 at 2,663.75 as AAPL bounced again at support.
Trading continued to shift to the H3,
March contract on Monday.
Coal stocks ANR, WLT, ACI and BTU, paused
on Monday.
The weight of
the evidence continues to suggest the Nov 16 low is likely to hold and Monday’s price action is a
bull flag bounce.
The Euro held above resistance and closed up 2 pips to 1.3163 on Monday. TNX, interest rates jumped, TLT, bonds
dropped down -1.85 and XLF soared 33 cents to 16.33.
Chart Signals saw
its bull flag bounce on Monday. Listed in today’s post are some of the bull flag bounces
and bull flag setups on the charts on Monday.
SPY – large white
candle, bull flag bounce, above 30 DMA
AAPL – bullish
engulfing, MACD divergence, below 30 DMA
FB – doji, channel,
BO target 29.63
FAS – large white
candle, bull flag bounce
AMZN – large white
candle, horizontal bull flag bounce
EXPE – large white
candle, bull flag bounce continuation
STX – white candle,
bull flag bounce, BO target 29.98
VIAB – white spinning
top, bull flag setup
RIMM – spinning top,
new high close, EPS Dec 20
CRUS – gap bullish
engulfing, support bounce
F – gap bullish
engulfing, support bounce
PHM – large white
candle, resistance breakout
SWK – gap bullish
engulfing, bull flag setup
SWI – dragonfly
doji, 30 DMA bounce setup
RAX – spinning top,
bull flag bounce continuation, above 30 DMA
URI – hammer, bull
flag setup
YELP spinning top,
bull flag bounce pause, above 30 DMA
XHB – bullish
engulfing, DBO bounce, close above 30 DMA
XRT – gap bullish
engulfing, support bounce, close above30 DMA
BO = breakout, DBO = diagonal breakout, CT = counter-trend, IT =
intermediate term, ST = short term
The Market Forecast Green Line is in the upper reversal zone.
____________________
Chart Targets:
SPY = 144.55 short-term resistance
ES = 1,438 short-term resistance
ES = 1,438 short-term resistance
EUR/USD = 1.3140, 1.3172
Short-term support at
1.30.61, 1.2990 = Euro
1.30.61, 1.2990 = Euro
140.69 = SPY
82.53 = SPXL
1,396 = ES
2,626 = NQ
1,396 = ES
2,626 = NQ
Setups:
Bull Flag: MCP, AMGN, CELG, EBAY, FB, NTAP, SNDK, BRCM,
VIAB, MNST, PCAR, ALTR, LLTC, MRVL, MXIM, XLNX, BIIB, SIAL, DELL, AMAT, URI, TSLA,
SWK, DLR, SMH, DECK, GLW, WDC, VECO, ADI
Moves:
Gap Up:
Bull Flag Bounce: SPY, DIA, IWM, FAS, AMZN, BAC, C, V, LNKD, VMW,
STI, GILD, GRMN, SBUX, STX, COST, EXPD, XRAY, TRIP, URE, IBM, DISCA
Bounce:
X, AKS
____________________
82 of 100 NDX
stocks closed higher and one unchanged on Monday…
Leading NDX 100 stocks included: SHLD,
QCOM, ISRG, ROST, EXPE, CMCSA, AVGO, GOOG, NWSA, FFIV
Lagging NDX stocks included: MU, GMCR, ATVI, DELL, PRGO, BIDU, MNST, SYMC, WCRX, RIMM
Leading stocks > +2% on Monday included: SINA, CRUS, RVBD, FAS, PHM, SWKS, TRIP, C, BAC, SOHU, GS, CMG, TBT, ZION, RCL, STI, F, A
Lagging stocks < -2.0% included: FAZ, TSL, GRPN, YELP, ZAGG, CIEN, HLF, LDK, ANR
Stocks to
Watch on Tuesday…
Holding Above 30 DMA = 79
YHOO, MYL, RIMM, XRAY, SBUX, HSIC, GILD, FB, CSCO, NTAP GMCR, VMED, EA, EXPD, LLTC, MXIM, PCAR, TXN, XLNX, AMGN, BIIB, CELG, EBAY, LIFE, SIAL, AMZN, FISV, ADSK, DELL, FFIV, MAT, MRVL, MU, ORCL, BRCM, SRCL, COST, MNST, ADBE, GOOG, GRMN, NWSA, SYMC, WYNN, AMAT, CTSH, PAYX, ADP, APOL, FOSL, INTU, KLAC, NFLX, VIAB, FLEX, NUAN, STX, AKAM, ALTR, CHKP, DTV, FAST, MCHP, SNDK, CTXS, ALXN, CHRW, LRCX, MDLX, NVDA, BBBY, ESRX, EXPE, INTC, ISRG, SPLS, SIRI, BIDU, WCRX
YHOO, MYL, RIMM, XRAY, SBUX, HSIC, GILD, FB, CSCO, NTAP GMCR, VMED, EA, EXPD, LLTC, MXIM, PCAR, TXN, XLNX, AMGN, BIIB, CELG, EBAY, LIFE, SIAL, AMZN, FISV, ADSK, DELL, FFIV, MAT, MRVL, MU, ORCL, BRCM, SRCL, COST, MNST, ADBE, GOOG, GRMN, NWSA, SYMC, WYNN, AMAT, CTSH, PAYX, ADP, APOL, FOSL, INTU, KLAC, NFLX, VIAB, FLEX, NUAN, STX, AKAM, ALTR, CHKP, DTV, FAST, MCHP, SNDK, CTXS, ALXN, CHRW, LRCX, MDLX, NVDA, BBBY, ESRX, EXPE, INTC, ISRG, SPLS, SIRI, BIDU, WCRX
Moving Above
30 DMA = 4
BMC, CMCSA, CERN, VRTX
Moving Below 30
DMA = 5
ATVI, VOD
Staying Below 30 DMA
ORLY, QCOM, AVGO, WFM, PCLN, DLTR, AAPL, LINTA, SHLD, GOLD,
MSFT, PRGO, VRSN, CA, ROST
Fifteen Week
Intermediate Term Market Trend: Neutral
Short Term
Market Trend: Up
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