IWM, DIA, SPY, QQQ New High Close on Christmas Eve Trading...TWTR Continues to Surge...Merry Christmas to All and to All a Good Night...

Eight out of nine sectors moved higher on Tuesday…XLB, XLE and XLI were the strongest sectors…while XLV was the weakest sector.

Breadth weakened as advancers led decliners led advancers in Tuesday’s pre-holiday half day of trading…2.05 to 1 on the NYSE and 1.61 to 1 on the NASDAQ.

Tuesday – weakened, decliners led

Monday – strengthened, advancers led

Friday – strengthened, advancers led

Thursday – weakened, decliners led

Wednesday – strengthened, advancers led

SPY up .40 at 182.93 volume 45.4 million shares

VIX down .56 at 12.48…

TNX up .54 at 29.83…highest close since June 2011

TLT down .83 at 102.83...

XLF up .04 at 21.75 volume 7.4 million shares

AAPL down -2.42 at 567.67 volume 6 million shares

FB up .19 at 57.96…volume 46.6 million shares

Technical Commentary: 

IWM +0.38%, DIA + 0.33%, SPY + 0.22%, QQQ +0.05%.

Broad indexes moved to another new high close on light half-day pre-holiday volume on Christmas Eve.  Markets are closed Wednesday and re-open on Thursday.

TWTR +5.42, +8.40% made another new high close at 69.96.

Take this time to evaluate your 2013 trading performance and identify specific improvements that you can make for 2014.

Continue to follow your rules.

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 – 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 and pointed up.

____________________

Setups 

H Breakout: C, CIEN, CREE, CRM, ESI, FIVE, JCP, JNPR, LVS, MFRM, NTES, SPLK, STI, SWI, TIF, WLT, Z, ZION

Diagonal Breakout: BAC, DNKN, NKE, SCTY, SINA, SPWR, SWKS, TBT, UAL, DAL, YELP, YOKU,

Bull Flag:  A, ANGI, CMG, CNX, CSIQ, DDD, TSL, UNG,

Potential Bullish Divergence: 

Gap Up:

Gap Down:

Bear Flag: FSLR, GLD, KKD,

At Support: TLT,

C- Pattern:

Moves

New Highs: BX, FAS, GLW, GRPN, RCL, SFUN, SPY, IWM, QQQ, DIA, TPX, TWTR, V, VECO, VRSN, X, AKS,

Gap Up:    

Gap Down:     

H Breakout: ATI, GME, RAX, SOHU,

Diagonal Breakout: 

Breakout Test: P, SCSS, XONE, YNDX,

Bounce: GOGO, LVS,

MACD Divergence Bounce: ALK, ANR, CLF,

Bear Flag:  

Support Break:  

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68 out of 100 NDX stocks closed higher and three were unchanged on Tuesday.

Leading NDX 100 stocks included: TSLA, SIRI, WYNN, GOLD, MU, VOD, MSFT, DTV, DISH, VIP, AVGO

Lagging NDX stocks included: BIDU, AMZN, AMGN, REGN, NXP, TRIP, AMAT, ESRX, PCLN, NFLX

Leading stocks > +2% on Tuesday included: TWTR, GOGO, CIEN, BBRY, SOHU, SFUN, WLT

Lagging stocks < -2.0% included: DDD, SSYS, P

Stocks to Watch on Thursday

Holding Above 30 DMA= 80

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, ALTR, BBBY, CSCO, HSIC, SYMC, SBAC, CHTR

Moving Above 30 DMA = 0

Moving Below 30 DMA = 1

MYL

Staying Below 30 DMA

AMGN, 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