Six of nine sectors moved higher on Thursday…XLY,
XLI and XLB were the strongest
sectors…XLU was the weakest
sector.
Breadth strengthened… as advancers
led decliners…1.37 to
1 on the NYSE and
1.63 to 1 on the NASDAQ.
Thursday – strengthened, advancers led
Wednesday – weakened,
decliners led
Tuesday – strengthened,
advancers led
Monday – weakened,
decliners led
Friday – weakened,
advancers led
SPY up .58 at 175.15…volume 70.2 million shares
VIX down .22 at 13.20…
TNX up .37 at 25.22…
TLT down .42 at 107.89...
XLF up .03 at 20.77 volume 27.8 million shares
AAPL up 6.95 at 531.91…volume 13.7 million shares, made its highest
close since Jan 2, trend is up…
FB up .54 at 52.45…volume 46.6 million shares
Technical
Commentary:
DIA +
0.64%, IWM + 0.54%, QQQ + 0.44%, SPY + 0.33%.
Buyers were back on Wednesday
pushing IWM to a new high close. SPY and
QQQ bounced closing
just below Tuesday’s high. DIA led
the indexes on the strength of HD, V, DD, DIS, GS and IBM.
Bull Flag setups and bounces presented opportunity in:
IWM, QQQ, SPY, A, CRM, DDD, FAS, FIVE, FSLR, LNKD, LVS, NKE, NTES, P, QIHU, SCTY,
SINA, SOHU, SSYS, STI, V, WLT, X, XONE, YELP, YNDX, ZION and FB.
RCL +2.60, +6.54% rose on a positive
earnings reaction this morning.
Solar stocks continued to shine on the strength of SCTY, FSLR, JKS
and GTAT.
AMZN, +27.44,
+8.26% in after-hours trading on positive earnings reaction.
Resistance Chart Targets:
QQQ = 81.87, 83.17…closed
at 82.45
IWM = 110.96, 112.83…closed
at 110.76
SPY = 177.85, 180.99…closed
at 175.41
Remember it is big money
that creates and sustains the trend. As Granville once
wrote, “technical analysis is the art of tracking the market, following
the footsteps of the ‘smart money’ crowd.
The ‘smart money crowd’ is no mysterious ‘THEY.’ It is simply a collection of people who are
reading the market correctly, seeing through the maze, unconfused by this hall
of mirrors.”
Short-term market posture
is SPY up.
Support Levels
ES = 1,726
SPY = 172.76
QQQ = 81.87, 79.76,
78.40
IWM = 107.83
Earnings to Watch
Earnings releases continue with a large list of major companies reporting
next week.
Q3 Earnings Reactions
Positive Reactions – CLGX,
ESI, EQIX, WLL, TSCO, RRD, PHM, RCL, ALXN, APOL, BCR, NDAQ, NSC, WHR, ILMN,
NUS, GNTX, LXK, DD, VFC, CMG, GOOG, BHI, GE, KSU, MS, SLB, STI, LVS, VZ,
SNDK, NUE, BTU, AXP, KEY, STLD, URI, USB, INTC, JNJ, SCHW, COST,
AA
Negative Reactions – FIO,
CAM, TKR, SYMC, CVA, CDNS, AKAM, XRX, CRI, ORLY, CAT, NFLX, COH, ZION, WAT,
EMC, UTX, TXN, HON, ISRG, GS, UNP, UNH, EBAY, IBM, XLNX, SCSS,
SWK, MU, FAST
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 above
80.
____________________
Setups
H Breakout: AMGN, DTV, ANR, FIVE, RAX,
SPLK,
Diagonal Breakout: EBAY,
GS, JCP, Z,
Bull Flag: CELG, GRMN, NVDA,
STX, WDC, BAC, FAS, NKE, P, STI, YOKU,
Potential Bullish
Divergence:
Gap Up:
Gap Down:
Bear Flag:
At Support: JNPR, PWRD,
Moves
New Highs: GILD, CMG, LCC,
Gap Up: DELL, ALK, ESI, RCL,
ALXN, RRD,
Gap Down: AKAM, COST, SBUX,
SYMC, CIEN, FIO, CAM, TKR, XRX, CRI, ORLY, CDNS, CVA
H&D Breakout: ADBE, MAT,
Breakout Test:
Bounce: ADSK, BIDU, MU,
TSLA, A, CRM, SINA, SSYS, TBT, WLT, X, ZION,
MACD Divergence
Bounce:
Bear Flag:
Support Break:
______________________
70 of 100 NDX stocks
closed higher on Thursday.
Leading NDX 100 stocks included: ALXN, TSLA, EXPD,
CTXS, BIDU, WYNN, GOLD, EQIX, ALTR, EXPE, AMAT, SBAC, ADBE, CHTR, SPLS, ADSK
Lagging NDX stocks included: SYMC, AKAM, ORLY,
SRCL, SRI, LMCA, FFIV, CELG, ISRG, SBUX, XRAY, HSIC
Leading stocks > +2% on Thursday
included: ESI, RCL, ANR, HLF, ZAGG, YELP, AKS, X, ANF, CDE, MCP, LVS,
SSYS, FCX, V
Lagging stocks < -2.0% included: CIEN, JCP, PWRD, JDSU, JNPR, MOS
Stocks to Watch on Friday
Holding Above 30 DMA= 68
GRMN, FB,
WYNN, AVGO, CTSH, VOD, MXIM, ROST, YHOO, ADBE, DLTR, SNDK, WFM, CHTR, BIDU,
SBUX, STX, AMAT, CERN, CMCSA, BBBY, MSFT, XRAY, VRSK, AAPL, HSIC, SPLS, AKAM,
ATVI, CELG, FISV, FOSL, GILD, INTC, INTU, KLAC, LINTA, PAYX, PCAR, PCLN, SBAC,
WDC, LMCA, FOXA, CHKP, DTV, MNST, VIAB, NFLX, ESRX, GOOG, QCOM, ADP, AMGN,
AMZN, BIIB, MAT, MDLZ, DISCA, KRFT, CA, CHRW, EXPD, CTRX, GOLD, SIAL, LBTYA, REGN
Moving Above 30 DMA = 4
ALXN, DELL, VRTX, EQIX
Moving Below 30 DMA = 5
AKAM, COST, ORLY, SIRI, SRCL
Staying Below 30 DMA
BRCM, FAST, FFIV, MCHP,
MXIM, MYL, NVDA, QCOM, SYMC, ADI, ALTR, TXN, TSLA, ADSK, ISRG, XLNX, EBAY,
LLTC, MY, EXPE, SHLD, NTAP, CSCO, CTXS, NUAN, GMCR
Sixteen Week
Intermediate Term Market Trend: Up
5-Day Short Term Market
Trend: Up
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