Eight of nine sectors moved higher on
Thursday… XLF, XLE and XLI were
the strongest sectors…XLK was the
weakest sector.
Breadth strengthened…advancers
led decliners…2.16 to 1 on the NYSE and 1.65 to 1 on
the NASDAQ…
Thursday
– strengthened, advancers led
Wednesday –
strengthened, advancers led
Tuesday – weakened,
decliners led
Monday – strengthened,
advancers led
Friday – weakened,
advancers led
SPY
up .92…volume 103.5 million shares
VIX
down .01 at 13.77…
TNX
up .43 at 25.34…
TLT
down 1.36 at 107.50...
XLF
up .28 at 20.72…volume 47 million shares
AAPL up 1.45 at 431.76…volume 7.8 million shares
FB
down .47 at 26.18…volume 24.7 million shares
Technical Commentary:
IWM + 0.67%, DIA + 0.58%, SPY + 0.55%,
QQQ – 0.25%.
The SPY, IWM, and DIA all
hit new highs today. The SPY closed
up .91 or .55% and IWM was up .69 or .67% closing at its 161.8% extension, while the DIA finished the day up .90 or .58%.
XLNX gapped up
with positive reaction to earnings. XLNX
closed up 2.30 or 5.28% closing
at an all time high.
SINA had a
large bounce today and broke horizontal resistance to close up 4.96 or 8.25%. It should be noted that SINA
closed today at 65.10 and is only about $5 away from breaking its mid-September
2012 horizontal resistance of $70.
UNG bounced
today breaking above its diagonal resistance to close up .90 or 4.71%. WLT
also bounced today at closed at its diagonal resistance…it was up 1.10 or 8.83% on 10.8 million shares.
JCI gapped up
on positive earnings reaction closing up 3.09 or
8.28% on 17 million shares.
EBAY, SCSS, and INTC all received negative reaction to earnings today. EBAY gapped down 6.73%. INTC also
gapped down 3.75%.
And SCSS likewise gapped down 9.53%.
Earnings of Interest
Monday – C
Tuesday – KO, CSX, GS, JNJ, MOS,
URI, YHOO
Wednesday – AXP, BAC, EBAY, INTC,
IBM, MAT, SNDK, SCSS, STLD, USB, XLNX
Thursday – AMD, CHKP,
CMG, GOOG, ISRG, KEY, MSFT, MS, OSTK PM, SWKS, UNP, UNH
Friday – BHI, GE, HON,
SLB, STI, WHR
Chart Signals Strategy Guidelines
When the market
is trending up Chart Signals looks
for support bounce and resistance breakout entries.
When the market
is trending down Chart signals looks
for resistance pull back and support break entries.
When the market
is sideways in consolidation Chart Signals
will look for support bounce, diagonal breakouts and pull backs at
resistance where price action stays between support and resistance.
Technical setups for
short-term option trades be in and out by earnings release.
Over earnings release use earnings option strategies such as straddles, strangles, OTM calls
or puts.
After earnings look for
bullish setups in positive reaction stocks and bearish setups in negative
reaction stocks.
The Market Forecast Green Line is in the upper zone.
____________________
Setups
H Breakout: ATVI, FFIV, GRMN, MU, SNDK, SYMC, ANGI, C, FIVE,
GRPN, GS, LVS, NTES, PWRD, STI, UAL,
Diagonal Breakout: AAPL,
WYNN,
Bull
Flag: GOOG, MSFT, PCLN, ESI, MFRM, SPLK, SSYS, TIF, TPX,
Potential Bullish Divergence:
Gap Up:
Gap Down:
Bear Flag:
At Support:
Moves
New Highs: BBBY, ESRX, GILD, WDC, BAC, CIEN, FAS, LNKD, SPY,
Gap Up: CTSH, XLNX,
Gap Down: CELG, EBAY,
INTC, SCSS,
H&D Breakout: MNST, MYL, SOHU,
Breakout Test:
Bounce: SINA, TBT, UNG, WLT,
MACD Divergence Bounce:
Bear Flag:
Support Break: JCP,
______________________
62 of 100 Leading NDX stocks closed higher on Thursday and two were unchanged.
Leading NDX 100 stocks included:
CHKP, XLNX, CTRX, SNDK, ALXN, FOSL, BIDU, EXPD, ATIVE, LMCA, VIAB, DELL,
CTSH
Lagging NDX stocks included:
EBAY, MXIM, INTC, AVGO, MWSA, CELG, QCOM, FB
Leading stocks > +2% on Thursday included: SINA, HLF, ANR, FAS, HUM, X, BAC, LNKD,
UCO, ESI, SOHU, ZION, UAL, CIEN, LVS, TBT, GMCR, CROX
Lagging stocks < -2.0% included: FAZ,
TPX, SMH
Stocks to Watch on Thursday
Holding Above 30 DMA= 89
SPLS, CSCO, AMZN, DLTR, ADBE,
INTU, SBUX, BBBY, EXPE, MCHP, PCLN,
SRCL, VRTX, ALTR, CA, LINTA, MAT, MNST, ORLY, PCAR, PCLN, ROST, STX,
VOD, VIAB, FB, LBTYA, KRFT, LMCA, CMCSA, GOOG, HSIC, DISCA, VRSK, ADP, ALXN,
CHKP, CTSH, DTV, EBAY, FOSL, NTAP, SYMC, WFM, WDC, NFLX, BMC, CELG, ESRX, FISV,
LLTC, XLNX, ADI, ATVI, BIIB, CHRW, COST, CTXS, EXPD, GILD, LIFE, MYL, NUAN,
PAYX, XRAY, TXN, SIAL, SIRI, AKAM, AMAT, GRMN, KLAC, YHOO, AMGN, MSFT, NVDA,
EQIX, REGN, SBAC, AAPL, ADSK, BIDU, CERN, FFIV, MDLZ, WYNN, FAST, MU, ORCL
Moving Above 30 DMA = 2
SNDK, CTRX,
Moving Below 30 DMA = 1
AVGO, MXIM, QCOM
Staying Below 30 DMA
BRCM, GOLD, MAT, DELL, SHLD, ISRG,
INTC, NWSA
Four-Week Intermediate Term Market Trend: Up
Short Term Market Trend: Up
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