Four
out of nine sectors moved
higher on Thursday…XLE, XLK and XLB were the strongest sectors…while XLU was the weakest sector.
Breadth weakened
as
decliners led advancers…1.34 to 1 on
the NYSE and 1.65 to 1 on
the NASDAQ.
Thursday – weakened, decliners led
Wednesday –
strengthened, advancers led
Tuesday – weakened,
decliners led
Monday – strengthened,
advancers led
Friday – strengthened,
advancers led
SPY down .21 at 181.49 volume 136.2 million shares
VIX up .35 at 14.15…
TNX up .40 at 29.25…
TLT down .10 at 102.67...
XLF down .03 at 21.58 volume
45.6million shares
AAPL down 6.31 at 544.46 volume 11.4 million shares
FB down .52 at 55.05…volume 89.7 million shares
Technical
Commentary:
DIA + 0.07%,
SPY – 0.12%, QQQ – 0.28%,
IWM – 0.74%.
The DJIA
again sets a record all-time high on Thursday gaining 11.11 points to close at 16,179.08. As the day progressed, investors for the most
part showed little concern at the disappointing weekly jobless claims which
rose to their highest level since March of the year. Also of little concern was the report of
existing home sales which slumped for the third straight month…down 4.3%. The S&P 500 which closed at a high
yesterday did not reach another high today…closing down 1.05 at 1,809.60.
SCTY broke above horizontal resistance
on Thursday closing up 4.11 or 7.79% on 7.3 million shares…and is close to
breaking another horizontal resistance of mid-November.
X gapped up and made a new all-time high breaking
above horizontal resistance on 11 million shares gaining 1.42 or 5.22%. IACI had a large gap up and made an
all-time high today closing up 8.40 or 13.98% on higher than normal volume of 8.4
million shares.
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 pointed up.
____________________
Setups
H Breakout: AKAM,
AMZN, ATVI, BRCM, EBAY, GOOG, INTC, PCLN, AXP, ATI, BAC, CNX, DDD, SFUN, SOHU, SSYS,
TSL,
Diagonal Breakout: FFIV,
SNDK, CRM, FSLR, P, SPWR,
Bull Flag: AAPL,
Potential Bullish
Divergence:
Gap Up:
Gap Down:
Bear Flag:
At Support:
C- Pattern:
Moves
New Highs: CTSH, GS, RCL, V,
Gap Up: RCL, X,
Gap Down: GLD,
H Breakout: CMCSA, WFM, GLW, SCTY, UNG, X,
Diagonal Breakout: CLF,
Breakout Test:
Bounce: CELG, ANR,
MACD Divergence
Bounce:
Bear Flag:
Support Break:
______________________
35 out of 100 NDX
stocks closed higher and two were unchanged on Thursday.
Leading NDX 100 stocks included: PAYX, SHLD, ATVI,
WFM, VRTX, VOD, MNST, ALXN, SBAC, FOXA, NTAP, LBTYA
Lagging NDX stocks included: TSLA, AVGO, XLNX,
CERN, ALTR, MXIM, LMCA, ADBE, TXN, FOSL, LLTC
Leading stocks > +2% on Thursday
included: SCTY
Lagging stocks < -2.0% included: RAX, JCP, FIVE, GLD, F, KKD
Stocks to Watch on Friday
Holding Above 30 DMA= 67
CTSH,
AAPL, FISV, INTU, WDC, GOOG, AMZN, LLTC, MU, EXPE, NFLX, ADSK, ESRX, ALXN,
PCLN, MDLZ, MNST, YHOO, QCOM, 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, FAST, SNDK, SYMC, VRTX, XLNX, ADP,
ATVI, BBBY, CTXS, GILD, MYL, PAYX, WFM, XRAY, ADI CTRX, DISCA, DRFT, FOXA
Moving Above 30 DMA = 2
NTAP, NUAN
Moving Below 30 DMA = 6
EXPD, HSIC, SPLS, TXN, CHTR, VIP
Staying Below 30 DMA
MAT, GRMN, MSFT, MCHP, NVDA, CERN, SRCL, COST, KLAC, SBUX, LMCA, SHLD,
SIRI, REGN, FOSL, ISRG, ROST, AMGN, DLTR, GOLD, SBAC, CHRW, CSCO, AMAT, MXIM,
ALTR
Sixteen Week
Intermediate Term Market Trend: Up
3-Day Short Term Market
Trend: Up
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