Eight of nine sectors moved higher on Thursday… XLI, XLY and XLV were the strongest sectors. XLF was
the weakest sector.
Breadth strengthened on Thursday as advancers
led decliners…3.13 to 1 on the NYSE and
2.06 to 1 on the NASDAQ…
Breadth strengthens as advancers increase and
or decliners decrease. Breadth
weakens as advancers decrease and or decliners increase.
Thursday – strengthened,
advancers led
Wednesday – weakened, decliners led
Tuesday – strengthened, advancers
led
Monday – weakened, decliners led
Friday – weakened,
advancers led
The SPY formed a new
high close as trend keeps rising as earning reports continue. Volume increased but was still light as earning releases increase.
Last week’s SPY breakout
was by only 47 cents so traders should continue to watch
closely if prices rollover and
be prepared to protect profits, However it appears that the uptrend is
more likely to continue.
SPY up 95 cents at 148.00...volume 133.8 million
shares…
VIX up .15 at 13.57…
TNX up .51 at 18.75…
TNX up .51 at 18.75…
TLT down 1.20 at 119.12…
XLF down 1 cent at 17.14…volume 56.6 million shares
XLF down 1 cent at 17.14…volume 56.6 million shares
AAPL down 3.41 at 502.68…volume 16.2 million shares
FB up 29 cents at`30.14…on volume of 40.2
million shares…EPS Jan 30…bull flag
As earnings season continues
look for stock selectivity to increase as stocks with good earnings and
guidance will likely rise and those with either weak earnings or guidance likely to fall in
price. This selectivity and the
typical pause waiting for EPS announcements has so far kept the SPY in a
narrow range and may continue to do so for the next several days.
Earnings to Watch this
Week:
Tuesday – LEN
Wednesday – EBAY, GS, JPM, USB
Thursday – AXP, BAC, COF, C, FAST, INTC, UNH, XLNX
Friday – GE, JCI, SLB,
STT, STI
BAC -0.50, -4.24%
C
-1.24, -2.92%
__________________
Technical Commentary:
The SPY broke above
resistance and made a new high close. IWM,
+0.93%,
DIA +0.70%,
SPY +0.65% and
QQQ +0.48% as AAPL shares moved lower. BAC and C
closed lower keeping financials neutral.
FB formed
a small spinning top in its bull flag pattern.
Trade what you see on the
chart of your position. If it is
breaking out of resistance take the trade or stay with the uptrend according to
your rules. If the stock begins to
rollover protect your profits.
The Euro up 83 pips to close at 1.3372 on Thursday bouncing to
resistance in its bull flag pattern in a strong uptrend.
Disk storage stocks WDC -0.20% and STX +2.10% continue their strong trends.
Coal stocks ANR, ACI, BTU, CNX and WLT held support and started
to bounce. Chinese solar stocks TSL and LDK are forming bull flag
patterns in their multi-week uptrend.
The Market
Forecast Green Line is in the upper reversal zone.
____________________
Setups
Breakout: TIF, QCOM, STI, ZION, MGM,
NTAP, SINA, NUAN
Diagonal Breakout: DECK
Bull Flag: FB, NFLX, CTXS, GOOG, AMZN, ANR, ATI, X, CRM,
VMW, ADBE, NTES, LVS, C, REGN, JOY, GILD, TRIP, CERN, FSLR, VIAB,
YELP, TSL, EXPE, BAC, GES, GLW
Moves
Breakout: ADSK,
FFIV, BRCM, RIMM, TOL, SBAC, IWM, RCL, SHLD,
JNPR, WDC, NKE, ANF, CTRP, UNG, COH, STRZA, EXPD, STX, FOSL, WAG, SNDK, F
Bounce: AKS, EBAY, ADI, GMCR, EQIX, LIFE, SPY, IBM, LEN, PHM, CTSH, CRUS, RIMM, COST, JDSU, FAS, ROST, FAST, APOL, PCAR
____________________
76 of 100 NDX stocks
closed higher and one was unchanged on Thursday…
LMCA spin off Liberty Media
resulting in symbols STRZA and LMCAD.
NDX listed symbol is STRZA.
Leading NDX 100 stocks included: KLAC, AMAT,
ISRG, SNDK, INTC, LIFE, CTRX, EBAY, ADI, XRAY
Lagging NDX stocks included: MNST, BIDU, BBBY,
PRGO, GOLD, CELG, AAPL, VMED, COST, GRMN
Leading stocks> +2% on Thursday included: VECO, GMCR, CMG, AKS, CROX, UCO, ICE, SMH, CSTR, CLF, RCL, TBT
Lagging stocks < -2.0% included: BAC, LDK, DECK, HLF, C, MCP, GES, SOHU
Stocks to Watch on Friday…
Holding Above 30 DMA = 79
SBUX, CSCO, VMED, SBAC, EXPD, LLTC, PCAR, XLNX, TXN, ADI, SIAL, FISV, ADSK, DELL, FFIV, ORCL, COST, ADBE, NWSA, DISCA, AMAT, CTSH, FOSL, KLAC, VIAB, NUAN, STX, LBTYA, WDC, ALTR, CHKP, FAST, MCHP, SNDK, EQIX, STRZA, CTXS, CHRW, INTC, SIRI, BIDU, VRSK, ADP, AMZN, BRCM, CMCSA, DTV, EBAY, EXPE, LINTA, MU, SRCL, SYMC, VRTX, WYNN, FB, ALXN, CA, CELG, GILD, HSIC, INTU, LIFE, PCLN, QCOM, MDLZ, CTRX, ROST, SPLS, BMC, AVGO, ATVI, SHLD, YHOO,MAT, MSFT, MYL, NTAP, MXIM
SBUX, CSCO, VMED, SBAC, EXPD, LLTC, PCAR, XLNX, TXN, ADI, SIAL, FISV, ADSK, DELL, FFIV, ORCL, COST, ADBE, NWSA, DISCA, AMAT, CTSH, FOSL, KLAC, VIAB, NUAN, STX, LBTYA, WDC, ALTR, CHKP, FAST, MCHP, SNDK, EQIX, STRZA, CTXS, CHRW, INTC, SIRI, BIDU, VRSK, ADP, AMZN, BRCM, CMCSA, DTV, EBAY, EXPE, LINTA, MU, SRCL, SYMC, VRTX, WYNN, FB, ALXN, CA, CELG, GILD, HSIC, INTU, LIFE, PCLN, QCOM, MDLZ, CTRX, ROST, SPLS, BMC, AVGO, ATVI, SHLD, YHOO,MAT, MSFT, MYL, NTAP, MXIM
Moving Above 30 DMA =5
CERN, ESRX, ISRG, WFM, XRAY
Moving Below 30 DMA =1
GOOG
Staying Below 30 DMA
VOD, PRGO, AKAM, PAYX, REGN, AMGN, GRMN, NVDA, ORLY, MNST, AAPL, BIIB, DLTR, BBBY, GOLD
Eight Week Intermediate
Term Market Trend: Up
Short Term Market Trend: Up
3 comments:
Dave:
Thank you for this blog and the overtime last night.
I appreciate it all!
Robert
CANI_212
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