Eight
of
nine sectors moved higher on Monday…XLK, XLI and XLE& were the strongest sectors…while XLP was the weakest sector.
Breadth strengthened…advancers led
decliners…2.01 to
1 on the NYSE and 2.14 to
1 on the NASDAQ.
Monday – strengthened, advancers led
Friday – strengthened,
advancers led
Thursday – strengthened, decliners
led
Wednesday – weakened, decliners led
Tuesday – weakened,
decliners led
SPY up 1.11 at 179.22 volume 96.1 million shares
VIX up .27 at 16.03…
TNX up .09 at 28.77…
TLT down .38 at 102.83...
XLF up .13 at 21.26 volume
68.2 million shares, above average volume
AAPL up 3.07 at 557.50 volume 10 million shares
FB up .49 at 53.81…volume 85.1 million shares
Technical
Commentary:
IWM + 1.19%,
DIA + 0.79%, SPY +
0.62%, QQQ + 0.55%.
Trading volume
shifted from the Dec Z3 contracts to the Mar H4 on Friday.
Stocks
rose in Monday’s session fueled by positive economic data indicating
improvements in business activity. The DJIA
gained 129.21 while the S&P 500 rose 11.22. AVGO rose in today’s session gaining
9.75% up 4.45.
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…Monday’s
high 181.67 within 39 cents of horizontal resistance
QQQ = 86.69, 85.77…exceeded
on Friday
IWM = 113.10, 114.39…
Short-term SPY posture is
neutral
Support Levels
ES = 1,797, 1,783, 1,774
SPY = 179.93, 177.98
QQQ = 84.78, 84.11
IWM = 110.88, 110.37,
108.85
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 down and below 80.
____________________
Setups
H Breakout: AKAM,
STX, WDC, BX, DDD, GS, LVS, MFRM, RCL, TIF, TPX, VRSN,
Diagonal Breakout: ANGI,
ATI, F, STI,
Bull Flag: AAPL, BIDU, CELG,
Potential Bullish
Divergence:
Gap Up:
Gap Down:
Bear Flag:
At Support: GRMN,
C- Pattern:
Moves
New Highs:
Gap Up: MNST,
Gap Down: UNG,
H Breakout: EBAY,
Diagonal Breakout: CMCSA,
Breakout Test:
Bounce: CSCO, ESRX, FAST, FFIV, INTC, AXP, DNKN, IBM,
SPY,
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: AVGO, EXPE, MNST,
WDC, EBAY, STX, FFIV, CSCO, PCAR, GMCR
Lagging NDX stocks included: ADBE, SHLD, SBAC,
MU, DTV, BIDU, ADSK, CELG, AKAM
Leading stocks > +2% on Monday
included: ANGI, TPX, IBM, Z, TSL, SCSS, KKD
Lagging stocks < -2.0% included: YOKU, QIHU, TWWTR, UNG, SWI, SINA
Stocks to Watch on Tuesday
Holding Above 30 DMA= 43
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, CHTR, ADBE, AKAM, EBAY, GILD, VIAB, VRSK
Moving Above 30 DMA = 8
CA, CHKP, CTXS, FFIV, LINTA, PAYX, PCAR, VOD
Moving Below 30 DMA = 3
MAT, VRTX, XRAY
Staying Below 30 DMA
ADP, GRMN, MSFT, SPLS, TXN, KRFT, ATVI, BBBY, FAST, HSIC, MCHP, MYL, NTAP, NVDA, SNDK,
CERN, SRCL, ADI, COST, KLAC, SBUX, LMCA, SHLD, SIRI, DISCA, REGN, FOSL, ISRG,
NUAN, ROST, SYMC, AMGN, DLTR, GOLD, SBAC, CHRW, FOXA, CSCO, AMAT, VIP, WFM,
CTRX, EXPD, MXIM, ALTR, XLNX
Sixteen Week
Intermediate Term Market Trend: Up
3-Day Short Term Market
Trend: Neutral
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