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.

 

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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:  

 

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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