All nine
sectors moved higher on Thursday… XLF, XLB, and XLE were the strongest sectors.
Breadth strengthened on Thursday as advancers led decliners…2.15 to 1 on the NYSE and 1.58 to 1 on the NASDAQ…
Thursday – strengthened, advancers led
Wednesday – weakened, decliners led
Tuesday – strengthened, advancers led
Monday – strengthened, advancers led
Friday – strengthened, decliners led
NDX 100 annual
changes prior to the open 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
It is time to
consider moving stops to protect profits of the last two days.
SPY up 83 at 144.10...volume 168.4 million shares…
VIX + .31 at 17.67…
TNX unchanged at 18.00…
TNX unchanged at 18.00…
TLT up 2 cents at 120.93…
XLF up 23 cents at 16.60…volume 61.9 million shares
XLF up 23 cents at 16.60…volume 61.9 million shares
AAPL down - 4.58 at 521.73…volume 17.2
million shares …
FB down 5 cents at`27.36…on volume of 35.5 million
shares…
__________________
Technical
Commentary:
White
candles appeared on many charts including the SPY, DIA, FAS, AMZN and PCLN. After
the close word that a Republican Plan B tax cut vote had been canceled. The ES is down over 20 points and the NQ just
over 40 points in night-time trade.
After a
breakout bounce and forming a white candle the SPY closed above T1
at 145.12 and still maintains a flagpole target at 146.82. The VIX closed
higher and did not confirm the SPY move up.
The weight of
the evidence continues to suggest that the current 4+ week uptrend is likely to continue.
The Euro
closed up 18 pips at 1.3243 on Thursday. TNX was unchanged, TLT, bonds rose 2 cents and XLF moved up 23 cents to 16.70.
Disk
storage stocks WDC up 96 cents and
STX up 6 cents. Coal stocks ANR, ACI, BTU, CNX and WLT pulled
back on Thursday.
SPY – white candle,
pennant
AAPL – black
candle above support, MACD divergence, below 30 DMA
FB – black spinning
top in channel, BO target 29.63
FAS – large white
candle, breakout bounce
AMZN – white candle, breakout
bounce
EXPE – dragon fly doji,
bull flag pause at resistance at T1
STX – potential
hanging man, breakout test
VIAB – black spinning
top, bull flag bounce pause
RIMM – white candle,
bull flag bounce, gap down after EPS
CRUS –evening star,
bear flag setup
F – potential
hanging man, above T1
PHM – potential
hanging man, breakout test
SWK – white candle,
breakout test
SWI – hammer at 30
DMA, bounce setup
RAX – large white
candle, breakout bounce
URI – white
spinning top, breakout test
YELP – white spinning top confirm bullish harami, close above
30 DMA
XHB – potential
hanging man, diagonal breakout test
XRT – hanging man at
resistance, 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 = 146.82 short-term resistance flagpole target
ES = 1,449 161% Fib extension
ES = 1,449 161% Fib extension
1,459 = 200% measuring
EUR/USD = 1.3281 161% Fib
extension
Short-term support at
1.3126 = Euro
1.3126 = Euro
144.55 = SPY
90.09 = SPXL
1,428, 1,405 = ES
2,691 = NQ
1,428, 1,405 = ES
2,691 = NQ
Setups:
Bull Flag: MCP, AMGN, CELG, MNST, MXIM, DELL, DECK
Moves:
Bull Flag Bounce:
Bounce Continuation: WDC, FAS, URE, AMZN, BAC, V, C, X, STX, DLR, ALTR, EXPD, STI,
ZION, XLNX,
URI, ADI, AMAT, AKS, EBAY,
SNDK, BRCM, VIAB, PCAR, LLTC, SIAL, SWK, SIAL, SPY, DIA, IWM, LNKD, COST, XRAY, DISCA
Pause:
VMW, TRIP, NTAP, MRVL, TSLA, SMH, VECO, FB, BIIB, SBUX, GILD,
GRMN, IBM
____________________
64 of 100 NDX
stocks closed higher on Thursday…
Leading NDX 100 stocks included: RIMM,
FLEX, WCRX, GMCR, VMED, EBAY, AMZN, MSFT, KLAC, FAST
Lagging NDX stocks included: BBBY, ISRG, EA, MRVL, SPLS, NUAN, PAYX, MNST, MXIM, GRMN
Leading stocks > +2% on Thursday included: FAS, BAC, YELP, SSYS, CDE, URE, WDC, V
Lagging stocks < -2.0% included: LDK, HLF, ESI, FAZ, TSL, DECK, SWKS, CRUS
Stocks to
Watch on Friday…
Holding Above 30 DMA = 84
YHOO, MYL, RIMM, XRAY, SBUX, HSIC, FB, CSCO, NTAP GMCR, VMED, EXPD, LLTC, MXIM, PCAR, TXN, XLNX, AMGN, BIIB, CELG, EBAY, LIFE, SIAL, AMZN, FISV, ADSK, DELL, FFIV, MAT, MRVL, MU, ORCL, BRCM, 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, ESRX, EXPE, INTC, SPLS, SIRI, BIDU, WCRX, BMC, CMCSA, CERN, VRTX, CA, LINTA, MSFT, ORLY, QCOM, WFM
YHOO, MYL, RIMM, XRAY, SBUX, HSIC, FB, CSCO, NTAP GMCR, VMED, EXPD, LLTC, MXIM, PCAR, TXN, XLNX, AMGN, BIIB, CELG, EBAY, LIFE, SIAL, AMZN, FISV, ADSK, DELL, FFIV, MAT, MRVL, MU, ORCL, BRCM, 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, ESRX, EXPE, INTC, SPLS, SIRI, BIDU, WCRX, BMC, CMCSA, CERN, VRTX, CA, LINTA, MSFT, ORLY, QCOM, WFM
Moving Above
30 DMA = 2
DLTR, PRGO
Moving Below 30
DMA = 3
BBBY, EA, GILD
Staying Below 30 DMA
ISRG, SRCL, ATVI, VOD, AVGO,
PCLN, AAPL, SHLD, GOLD, VRSN, ROST
Fifteen Week
Intermediate Term Market Trend: Neutral
Short Term Market Trend: Neutral
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