Eight
of nine sectors moved higher on Thursday…XLF, XLU and XLB were the strongest sectors…XLK
was the weakest sector.
Breadth weakened
slightly…advancers led decliners…1.97 to 1 on the NYSE and 1.06 to
1 on the NASDAQ where decliners led advancers.
Thursday – weakened slightly, mixed
Wednesday –
strengthened, advancers led
Tuesday – weakened,
decliners led
Monday - mixed
Friday – strengthened, advancers
led
SPY up .89 at 179.27…volume 103.3 million shares
VIX down .15 at 12.37…
TNX down .23 at 27.02…
TLT up .64 at 104.52...
XLF up .18 at 21.03 volume
34.9 million shares
AAPL up 7.53 at 528.16…volume 10 million shares
FB up .28 at 48.99…volume 75 million shares…
Technical
Commentary:
SPY +
0.50%, DIA + 0.42%, QQQ + 0.31%, IWM – 0.10%.
The
financial sector was the strongest on Thursday with the XLF gaining .18 or 0.89% and
is currently at the horizontal resistance.
Both the DJIA
and the S&P hit an all-time new close for the second day in a
row following comments made by the FED’s chair nominee Yellen. The DOW
gained 54.59 to close at 15,876.26 up
0.4% and the S&P gained 0.5% up 8.62
to close at 1,790.60. DIA was not
far behind with a gain of 0.42% up .67.
CSCO gapped down after their earnings
report…indicating a weak outlook according to analysts…CSCO closed down 2.63 or 10.96%
on volume of 243.2 million shares.
CIEN likewise gapped down and broke
support to close down 1.68 or 7.14% on 7.7 million share in volume. ANGI is closed down near support of
late October…ANGI closed down .94
or 6.38% with volume of 1.9 million
shares.
Continue
to trade with trend of the individual stock that you are trading and be
vigilant in protecting profits from the last three weeks. Chart Signals has been alerting
readers to, “Move profit
protection stops according to your rules,” since Monday.
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.”
Earnings this week: RAX, NTES, SINA, CSCO, NTAP, XONE, YOKU,
Q3 Earnings Reactions
Positive Reactions –
SLXP,PCLN, NVDA, GRPN, AWAY, PRU, TPX, TSO, CTSH, FSLR, TRMB, MDVN, NATI,
SPR, ONNN, EXPE, CRR, HAR, GTI, ATML, THOR, TRN, FLT, MCHP, ITT, DICSA, ANR,
SWKS, FB, CMCSA, GILD, DWA, LVLT, EA, SEE, SPW, TFX, JCI, X, XRAY, XYL, JLL,
PBI, ALR, HUN, ACT, DECK, AMZN, MSFT, FLS, AVY, ALXN, WOOF, COG, BA, 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 –
MNST, QCOM, SCTY, IPGP, AIG, BRKR, HME, NEM, XLS, Z, NIHD, AVP,
WTW, ROVI, GRMN, JDSU, OSK, CNW, ITRI, CTRX, KRFT, GRMN, MYL, DLR, XCO,
WU, LNKD, IACI, MSM, INGR, HTS, VRTX, AAPL, PMCS, MWV, SOHU, AGNC, AGCO,
PCL, GT, CMI, VSH, ALSN, ROP, EW, MRK, RYN, RMD, NCR, KBR, FSL, ESRX, EMN, FIO,
SIRI, 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: AMZN, COST, ESRX, GOOG,
MNST, MSFT, NFLX, QCOM, SBUX, SHLD, SNDK, STX, ATI, BAC, BX, CMG, ESI, FAS,
FIVE, KKD, LVS, QIHU, SPWR, SWKS, YNDX,
Diagonal Breakout: AMAT,
BRCM, CMCSA, EBAY, FB, C, DNKN, GLW, GRPN, YELP,
Bull Flag:
Potential Bullish
Divergence:
Gap Up:
Gap Down:
Bear Flag:
At Support: ANGI, NTES,
Moves
New Highs: ADSK, CTSH,
MU, MYL, NVDA, PCLN, QCOM, ROST, TXN, WDC, YHOO, ALK, NKE, SPY, TRIP, VRSN,
Gap Up: GLD,
Gap Down: CSCO, CIEN,
H Breakout: MAT, NVDA, WDC,
YHOO, MFRM, RCL, STI, TPX, TRIP,
D Breakout: AAPL, AXP,
LNKD,
Breakout Test:
Bounce:
MACD Divergence Bounce: GLD,
Bear Flag:
Support Break: XLNX,
______________________
66 out of 100 NDX
stocks closed higher on Thursday.
Leading NDX 100 stocks included: WDC, REGN, BIDU,
AMZN, ALXN, EQIX, STX, MDLZ, GOLD, ATVI, NFLX
Lagging NDX stocks included: CSCO, AVGO, CTXS,
XLNX, VIAB, BRCM, ALTR, KLAC
Leading stocks > +2% on Thursday
included: SPWR, SCTY, YNDX, GRPN, XONE, FIVE, SOHU, TPX, FAS, BX
Lagging stocks < -2.0% included: CIEN, ANGI, WLT, NTES, MCP, YOKU, ANR,
TSL, RAX
Stocks to Watch on Friday
Holding Above 30 DMA= 63
CTSH, VOD,
ROST, ADBE, SNDK, SBUX, STX, CERN, CMCSA, MSFT, XRAY, AAPL, HSIC, SPLS, FISV,
FOSL, INTC, INTU, LINTA, PAYX, SBAC, WDC, CHKP, DTV, GOOG, ADP, AMZN, MAT, DISCA, CA, COST, LLTC,
TXN, ADI, MCHP, MU, EXPE, NFLX, ADSK, ESRX, LBTYA, ISRG, ALXN, GILD, MYL, NVDA,
PCAR, PCLN, MDLZ, DLTR, MNST, SHLD, WYNN, YHOO, ATVI, BRCM, QCOM, AMGN, BBBY,
CHRW, EBAY, NTAP, SRCL
Moving Above 30 DMA = 4
BIDU, GOLD, SIAL, FOXA
Moving Below 30 DMA = 4
AVGO, CSCO, KLAC, VIAB
Staying Below 30 DMA
CTXS, AMAT,
VIP, GRMN, WFM, VIAB, CTRX, KRFT, BIIB, REGN, VRSK, LMCA, TSLA, EXPD, FAST,
CHTR, CELG, VRTX, FB, MXIM, EQIX, AKAM, ORLY, SIRI, FFIV, SYMC, ALTR, XLNX,
NUAN, GMCR
Sixteen Week
Intermediate Term Market Trend: Up
5-Day Short Term Market
Trend: Up
1 comment:
Thanks for you excellent analysis and comments.
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