Five of nine sectors moved
higher on Thursday…XLV, XLU and XLP were the strongest sectors…while XLK was the weakest sector.
Breadth strengthened as advancers
led decliners 1.13 to
1 on the NYSE and 1.06 to
1 on the NASDAQ where decliners led advancers.
Thursday - mixed
Wednesday – weakened,
decliners led
Tuesday – strengthened,
advancers led
Monday – weakened,
decliners led
Friday – strengthened,
advancers led
SPY up .12 at 183.64 volume 90.6 million shares
VIX up .02 at 12.89…
TNX down .30 at 29.63…
TLT up .60 at 103.18...
XLF up .08 at 22.07 volume 29.2
million shares, below average volume
AAPL down 6.94 at 536.52 volume 9.8 million shares
FB down 1.01 at 57.22…volume 92.3 million shares, above average volume
Technical
Commentary:
QQQ – 0.33%,
DIA – 0.10%, IWM +
0.03%, SPY + 0.07%.
Rotational buying and selling kept the broad indexes in a short-term
neutral range for the sixth trading day of 2014. Five sectors were higher and four were
lower. Advancers and decliners were near
even on Thursday. Stocks like ANGI, UAL, AAL, VECO, YNDX, DAL, RCL, BBRY,
ALK, STI, SCTY and STI were higher while QIHU, CLF, TSL, MFRM, SINA,
WLT, X, MCP, CSIQ, DRYS, UNG ANR, TWTR, SCSS, SOHU and RAX were lower. The VIX confirmed the balanced market.
Markets
seemed balanced waiting the Jobs Report Friday morning and the start of
earnings season. After the close AA -.047, -4.40% fell
in after-hours trading after reporting earnings that missed estimates. FDO -1.37, -2.07% which reported before the open, opened almost $4
lower but rallied to close just over a dollar lower.
The overall trend is still up, while
the short-term trend is neutral.
Trade with the trend, move your protective stops. Continue to follow your rules.
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:
SPY = 184.69, 186.06, 186.90…
QQQ = 87.79, 88.74…
IWM = 115.98, 116.70, 118.54…
Q4 earnings season unofficially starts next Thursday,
January 9
with the AA earnings release after
the close.
Tuesday – APOL, MU
Wednesday – BBBY, MON,
SCHN
Thursday – AA, FDO,
Q4 Earnings Reactions
Positive Reactions – MON,
MU, APOL
Negative Reactions – AA,
FDO, BBBY, SCHN,
The Market Forecast Green Line is pointed up.
____________________
Setups
H Breakout: AKAM,
AMZN, BRCM, CTSH, QCOM, SYMC, ANGI, CMG, RCL, SPY, SSYS,
Diagonal Breakout: ADBE, CELG, TSLA,
Bull Flag: INTC, GS, MCP, SFUN, SPLK,
Potential Bullish
Divergence:
Gap Up:
Gap Down:
Bear Flag:
At Support: ANR, WLT,
C- Pattern:
Moves
New Highs: ADSK, DTV, ESRX, C,
Gap Up: AAL, ALK, DAL, STI, UAL,
Gap Down: UNG,
H Breakout: AMGN, MYL, ZION
Diagonal Breakout: LNDK,
Breakout Test:
Bounce: COST,
FAST,
MACD Divergence
Bounce:
Bear Flag:
Support Break: MFRM,
______________________
40 out of 100 NDX
stocks closed higher on Thursday.
Leading NDX 100 stocks included: COST, AMGN, AKAM,
CTRX, ESRX, DTV, ADSK, ISRG, FAST, MDLZ
Lagging NDX stocks included: BBBY, NVDA, BIDU, GOLD,
SPLS, STX, MU, FOXA, DISH, TSLA
Leading stocks > +2% on Thursday
included: ANGI, UAL AAL, VECO, YNDX, DAL, JCP, LNKD, RCL, BBRY
Lagging stocks < -2.0% included: QIHU, CLF, TSL, MFRM, SINA, WLT, X,
MCP, CSIQ, DRYS
Stocks to Watch on Friday
Holding Above 30 DMA= 72
CTSH,
FISV, INTU, WDC, GOOG, AMZN, ILMN, LLTC, EXPE, ADSK, ESRX, ALXN, MDLZ, MNST,
YHOO, DISH, SIAL, CMCSA, LBTYA, GMCR, DTV, STX, BIDU, BRCM, WYNN, FB, AVGO, INTC, EQIX, TSLA, ORLY, ADBE,
AKAM, VIAB, CA, CHKP, FFIV, LINTA, PCAR, TSCO, SNDK, VRTX, XLNX, ADP, ATVI,
CTXS, PAYX, CTRX, KRFT, AMAT, NVDA, CSCO, SYMC, SBAC, CHTR, DLTR, ROST, HSIC,
MXIM, SIRI, AMGN,
ISRG, MU, MYL, NTAP, QCOM, SRCL, ADI, TRIP, BIIB, CELG, TXN
Moving Above 30 DMA = 1
GILD
Moving Below 30 DMA = 5
BBBY, SPLS, FOXA, VIP, NXPI
Staying Below 30 DMA
ALTR, EBAY, MAT, DISCA, KLAC, AAPL, CHRW, EXPD, WFM, FAST, VRSK, NFLX,
PCLN, GRMN, MSFT, CERN, COST, SBUX, LMCA, REGN, GOLD
Sixteen Week
Intermediate Term Market Trend: Up
3-Day Short Term Market
Trend: Neutral
No comments:
Post a Comment