Five of nine sectors moved higher on Monday…XLY,
XLP and XLU were the strongest sectors…while XLE was the weakest sector.
Breadth weakened
as decliners
led advancers…1.05 to 1 on the NYSE and 1.09 to
1 on the NASDAQ.
Monday – weakened, decliners led
Friday – weakened, mixed
Thursday – weakened
slightly, advancers led
Wednesday – Closed Christmas
Tuesday – weakened,
decliners led
SPY down .03 at 183.82 volume 56.8 million shares
VIX up 1.10 at 13.56…
TNX down .30 at 29.76…
TLT up .70 at 102.51...
XLF down .04 at 21.75 volume
16.1 million shares
AAPL down 5.57 at 554.52 volume 9 million shares
FB down 1.73 at 53.71…volume 68.2 million shares
Technical
Commentary:
DIA +0.07%,
SPY -0.01%, IWM -0.06%, QQQ -0.15%.
Stocks for
the most part changed little in Monday’s trading session…However… the DJIA
did finish the day up 25.88 closing
at 16,504.29 and closed the session with another record high…it’s 51st
record high in the next to last day of trading of 2013!
TWTR continued to decline but is in a
bull flag pattern. TWTR closed
down 3.24 or 5.08%
closing at 60.51 with a volume of 55.5 million shares.
TSL gapped up today gaining .86 or 6.54%
on 5.5 million shares to close at 14.01.
The trend continues
higher for the overall market with basic materials, industrial,
energy, technology and financial sectors leading the way. Trade with the trend, move your protective
stops. Continue to follow
your rules.
The economic outlook continues to strengthen heading into 2014. While the stock market does not go straight
up and instead moves in a zig zag manner of higher highs and pull backs to
higher lows, currently the weight of the technical evidence suggests
trend continuation as 2013 comes to a close.
Take this
time to evaluate your 2013 trading performance and identify specific
improvements that you can make for 2014.
Albert Einstein: “Insanity: doing the same thing over and over
again expecting different results.”
Remember it is big money
that creates and sustains the trend. As Granville 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
up trend chart targets:
Chart Targets:
SPY = 183.37, 185.02…
QQQ = 87.79, 88.74…
IWM = 117.15, 119.00…
Q3 Earnings Reactions
Positive Reactions – LEN, BBRY, RHT, WAG,
ORCL, AVGO, MFRM, SPLK, MRVL, GMCR, JCP, LZB, JKS,
BRCD, TSN, YOKU, SINA, NTAP, 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 – ROST, GME, BBY,
CPB, JEC, TSL, CRM, CSCO, RAX, 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
The Market Forecast Green Line is above 80.
____________________
Setups
H Breakout: DTV,
FAST, GILD, NVDA, CIEN, VECO, XONE,
Diagonal Breakout: ANR,
CSIQ, QIHU, SINA,
Bull Flag: AMZN, ATVI, EBAY, FB, NFLX, PCLN, YHOO, GRPN,
MFRM, STI,
Potential Bullish
Divergence:
Gap Up:
Gap Down:
Bear Flag:
At Support:
C- Pattern:
Moves
New Highs: CMCSA, CTSH, INTC, MAT, WYNN, TIF, TPX,
Gap Up: TSL,
Gap Down:
H Breakout: SYMC, TXN,
Diagonal Breakout: IBM,
Breakout Test:
Bounce:
MACD Divergence
Bounce:
Bear Flag:
Support Break:
______________________
68 out of 100 NDX
stocks closed higher and one
was unchanged on Monday.
Leading NDX 100 stocks included: CTXS, SYMC, MAT,
WFM, DISC, STX, SBAC, NVDA, VIAB, SPLS, WYNN
Lagging NDX stocks included: FB, GOLD, PCLN, VIP,
AMZN, MU, AAPL, LBTYA, EQIX, GOOG, YHOO
Leading stocks > +2% on Monday
included: TSL, SPWR, CSQ, MFRM, SCSS
Lagging stocks < -2.0% included: TWTR, ESI, XONE, P, GRPN, MCP, YOKU
Stocks to Watch on Tuesday
Holding Above 30 DMA= 82
CTSH,
AAPL, FISV, INTU, WDC, GOOG, AMZN, ILMN, LLTC, EXPE, NFLX, ADSK, ESRX, ALXN, MDLZ,
MNST, YHOO, QCOM, DISH, SIAL, CELG, BIIB, CMCSA, LBTYA, GMCR, DTV, STX, BIDU,
BRCM, WYNN, FB, AVGO, INTC, EQIX, TSLA, ORLY, ADBE, AKAM, EBAY, VIAB, VRSK, CA,
CHKP, FFIV, LINTA, PCAR, VOD, TSCO, SNDK, VRTX, XLNX, ADP, ATVI, CTXS, GILD,
PAYX, ADI, CTRX, DISCA, KRFT, FOXA, NXP, AMAT, EXPD, KLAC, MAT, NVDA, SPLS,
TXN, VIP, ALTR, BBBY, CSCO, HSIC, SYMC, SBAC,
CHTR, AMGN, FAST, CHRW, ISRG, NTAP
Moving Above 30 DMA =
3
DLTR,
MYL, WFM
Moving Below 30 DMA = 1
MU
Staying Below 30 DMA
GRMN, MSFT, CERN, SRCL, TRIP, COST, SBUX, LMCA, SIRI, REGN, ROST, GOLD, MXIM
Sixteen Week
Intermediate Term Market Trend: Up
3-Day Short Term Market
Trend: Up
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