Monday, December 23, 2013

DJIA And S&P 500 Set Another Record...

Seven out of nine sectors moved higher on Monday…XLK, XLB and XLF were the strongest sectors…while XLU was the weakest sector. 
 
Breadth strengthened as advancers led decliners led advancers…2.44 to 1 on the NYSE and 2.63 to 1 on the NASDAQ.
 
Monday – strengthened, advancers led
Friday – strengthened, advancers led
Thursday – weakened, decliners led
Wednesday – strengthened, advancers led
Tuesday – weakened, decliners led
 
 
 
SPY up .97 at 182.53 volume 85.5 million shares
VIX down .75 at 13.04…
TNX up .42 at 29.29…
TLT down .59 at 103.66...
XLF up .10 at 21.71 volume 29.5 million shares
 
AAPL up 21.07 at 570.09 volume 17.9 million shares
FB up 2.65 at 57.77…volume 98.2 million shares
 
Technical Commentary: 
DIA + 0.38%, SPY + 0.53%, QQQ + 1.05%, IWM + 1.13%.
 
 
 
Trading volume shifted from the Dec Z3 contracts to the Mar H4 on Friday.
 
 
Finish 2013 strong by following your rules and begin to look for positive changes to make in 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 = 182.06, 183.02
QQQ = 86.69, 85.77…exceeded on Friday
IWM = 113.10, 114.39
 
 
Q3 Earnings Reactions
Positive Reactions – 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 turned up.
 
____________________
 
Setups 
H Breakout: BBBY, BRCM, CSCO, FFIV, GILD, INTC, MAT, PCLN, QCOM, SNDK, TXN, WDC, XLNX, ATI, BAC, CRM, JNPR, P, RAX, SSYS, STI, YNDX, ZION
Diagonal Breakout: AMGN, NVDA, CIEN,
Bull Flag: 
Potential Bullish Divergence: 
Gap Up:
Gap Down:
Bear Flag: 
At Support: 
C- Pattern:
 
Moves
New Highs: ADSK, ESRX, GOOG, BX, DDD, FAS, GS, SFUN, SPY, TWTR, V, VRSN,
Gap Up: AAPL, FIVE,    
Gap Down:     
H Breakout: FB, CREE, NTES, SCSS, TPX, XONE,    
Diagonal Breakout: AMAT,        
Breakout Test: 
Bounce:  
MACD Divergence Bounce: 
Bear Flag:  
Support Break:  
 
______________________
 
 
78 out of 100 NDX stocks closed higher and one was unchanged on Monday.
 
Leading NDX 100 stocks included: FB, AAPL, VIP, LINTA, EQIX, ILMN, VRTX, CSCO, ISRG, AMAT, SYMC, YHOO, BRCM, FFIV, EXPE
 
Lagging NDX stocks included: MU, GMCR, WFM, CTXS, VRSK, AMGN, BIDU, BIIB
 
Leading stocks > +2% on Monday included: TWTR, ZONE, P, JCP, DDD, YOKU, Z, SFUN, SSYS, SCSS, WLT, X, YNDX, BBRY, QIHU, ATI, FIVE, TPX, KKD, GME, RAX, CSIQ, CREE, BX
 
Lagging stocks < -2.0% included: ANGI
 
Stocks to Watch on Tuesday
Holding Above 30 DMA= 73
CTSH, AAPL, FISV, INTU, WDC, GOOG, AMZN, ILMN, LLTC, MU, EXPE, NFLX, ADSK, ESRX, ALXN, PCLN, MDLZ, MNST, YHOO, QCOM, DISH, SIAL, CELG, BIIB, CMCSA, LBTYA, GMCR, DTV, STX, BIDU, BRCM, FB, WYNN, 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, WFM, ADI CTRX, DISCA, KRFT, FOXA, NXP, AMAT, EXPD, KLAC, MAT, NVDA, SPLS, TXN, VIP
 
Moving Above 30 DMA = 8
ALTR, BBBY, CSCO, HSIC, MYL, SYMC, SBAC, CHTR
 
Moving Below 30 DMA = 6
AMGN
 
Staying Below 30 DMA
FAST, NTAP, GRMN, MSFT, CERN, SRCL, TRIP, COST, SBUX, LMCA, SIRI, REGN, ISRG, ROST, DLTR, GOLD, CHRW, MXIM
 
Sixteen Week Intermediate Term Market Trend: Up
3-Day Short Term Market Trend: Up
 
 
 

2 comments:

Gary said...

Dave,

Merry Christmas to you and your family!!

Gary Oakie & Family

Mike said...

Dave

Wishing you, your family and all Chart Signal readers and their families and Merry Christmas and Happy Holiday Season and all the best in 2014!!!!


Mike Santoro