All
nine
sectors moved higher on Wednesday…XLV, XLF and XLI were the strongest sectors…while
XLK was the weakest sector.
Breadth strengthened…advancers led
decliners…3.75 to
1 on the NYSE and 2.43 to
1 on the NASDAQ.
Wednesday – strengthened, advancers led
Tuesday – weakened,
decliners led
Monday – strengthened,
advancers led
Friday – strengthened,
advancers led
Thursday – strengthened, decliners
led
SPY up 3.05 at 181.70 volume 234.7 million shares, more than double average volume
VIX down 2.41 at 13.80…
TNX up .42 at 28.85…
TLT down .52 at 102.77...
XLF up .49 at 21.61 volume
99.1 million shares, large volume
AAPL down 4.22 at 550.77 volume 20.1 million shares, large
volume
FB up .71 at 55.57…volume 75.9 million shares
Technical
Commentary:
DIA +
1.88%, SPY + 1.71%, IWM + 1.37%, QQQ + 1.16%.
Wednesday’s
trading session saw stocks surge…some stocks going where they have never gone
before…including the DJIA gaining 292.71
to close at 16,167.97 and the S&P 500 which rose 29.65 and closed at 1810.65 topping its
previous record close on December 9th. Investors reacted positively to the Fed’s
decision to begin in January the tapering of bond purchases…indicating an
overall confidence in the strength of the economy.
Numerous stocks are set up for a
horizontal resistance breakout or a diagonal resistance breakout. Many stocks reached new highs today.
LEN gapped up on positive earnings
gaining 2.23 or 6.34% on 14.2 million shares and is at a horizontal
resistance breakout. DHI
gained 1.20 or 6.35% on 15.7 million shares and is at both
a horizontal resistance breakout and a longer term diagonal resistance
breakout.
GILD bounced today to gain 3.51 or 5.01%
on 17.9 million share and is closing in on its previous high of 76.11. FAS
made a new all-time high today, coming off of a double bottom closing up 5.14 or 6.33%
on volume of 6.8 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 turned up today.
____________________
Setups
H Breakout: ADSK,
AKAM, AMZN, BBBY, BRCM, CMCSA, CTSH, EBAY, ESRX, INTC, GOOG, MYL, PCLN, SBUX, AXP,
CREE, FAS, GLW, NTES, SCSS, SFUN, SPY, SWI, TPX,
Diagonal Breakout: ATVI,
SNDK, CRM, SCTY, YELP, Z,
Bull Flag:
Potential Bullish
Divergence:
Gap Up:
Gap Down:
Bear Flag:
At Support:
C- Pattern:
Moves
New Highs: FB, WYNN, A, BX, RCL, TIF, V, VRSN,
Gap Up:
Gap Down: F, GOGO, LNKD,
H Breakout: XLNX, GRPN, GS, STI,
Diagonal Breakout: RAX,
Breakout Test:
Bounce: DTV, GILD, BAC, C,
MACD Divergence
Bounce:
Bear Flag:
Support Break: GRMN,
______________________
88 out of 100 NDX
stocks closed higher and one was unchanged on Wednesday.
Leading NDX 100 stocks included: GILD, VRTX, ALXN,
REGN, BIIB, DISCA, MNST, SPLS, CTSH, CMCSA, ADBE, ADP, MYL PCLN, LINTA, WYNN
Lagging NDX stocks included: MU, TSLA, GRMN, WDC,
SHLD, GOLD
Leading stocks > +2% on Wednesday
included: FAS, GRPN, SCSS, BAC, A ZION, GS, C, YNDX, NKE, CRM, KKD
Lagging stocks < -2.0% included: GOGO, F, LNKD, MCP
Stocks to Watch on Thursday
Holding Above 30 DMA= 53
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
Moving Above 30 DMA = 20
ADP, ATVI, BBBY, CTXS, EXPD, GILD, HSIC, MYL, PAYX, SPLS, WFM,
XRAY, TXN, ADI, CTRX, DISCA, KRFT, FOXA, CHTR, VIP
Moving Below 30 DMA = 0
Staying Below 30 DMA
MAT, GRMN, MSFT, MCHP, NTAP, NVDA, CERN, SRCL, COST, KLAC, SBUX, LMCA,
SHLD, SIRI, REGN, FOSL, ISRG, NUAN, ROST, AMGN, DLTR, COLD, SBAC, CHRW CSCO,
AMAT, MXIM, ALTR
Sixteen Week
Intermediate Term Market Trend: Up
3-Day Short Term Market
Trend: Up
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