All nine
sectors
moved higher on Thursday…XLV, XLY and XLU were the strongest sectors…while
XLP was the weakest sector.
Breadth strengthened as advancers
led decliners 3.27 to
1 on the NYSE and 3.07 to
1 on the NASDAQ.
Thursday – strengthened, advancers led
Wednesday – weakened,
decliners led
Tuesday – Strengthened,
advancers led
Monday – strengthened,
decliners led
Friday – weakened,
decliners led
SPY up 1.88 at 179.23 volume 116.1 million shares
VIX down .06 at 17.29…
TNX up .18 at 26.93…
TLT down .31 at 107.5...
XLF up .30 at 21.31 volume 45.9
million shares
AAPL down .97 at 499.78 volume 24.2 million shares
FB up 7.55 at 61.08…volume 150.1 million shares, above average volume
Technical
Commentary:
QQQ +
1.85%, IWM + 1.49%, SPY + 1.06%, DIA + 0.68%.
With the
news that the US Economy expanded in the last three months of 2013…experiencing
a growth of 3.2% and a total of 1.9% for all of 2013…the pump was primed for
stocks to jump…and jump they did…with the S&P 500 gaining 19.99…the NASDAQ gaining 71.69…best gain since October 10, 2013…and the
DJIA adding 109.82. Of course, FB added to the
pump priming with their ‘better than expected’ earnings report…surprising Wall
Street analysts and investors alike. FB
finished the day up 7.55…that’s a
gain of 14.10% after earnings. FB
traded 150.3 million shares in today’s session.
ALXN reported their positive earnings
and much to the smiles and nods of investors…soared to finished the day up 28.27 or 21.14% on
volume of 5.8 million shares. That’s
touching near rocket science guys!
CMG also reported earnings…posting
30% higher profits…in after-hours trading…CMG is up 63.24 or 12.80%. Serve
me up another Pork Burrito folks!
In
after-hours trading and after negative earnings report…AMZN is trading
down 20.01 or
4.97%.
Monday kicks off a huge week for
earnings AAPL, CAT, RCL, STX, X, and ZION
just on Monday. On Tuesday CMCSA, DD,
F, ILMN, VMW and YHOO. On Wednesday FB, BA and QCOM report and Thursday releases MMM,
AMZN, CELG, CMG, GOOG
and V. The week wraps with BIDU, CVX and MA on Friday.
Trade with the trend of the chart you are trading and 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 = 181.34, 183.40, 184.69…
QQQ = 88.18, 89.00…
IWM = 114.48, 116.70…
Support Levels
SPY = 179.12, 177.74,
176.36
QQQ = 86.38, 85.67
IWM = 113.26, 112.14,
110.71
Q4 earnings season continues into the third full week…
Monday – AAPL, CAT,
RMBS, RCL, STX, X, ZION
Tuesday – AKS, AAL,
AMGN, CHKP, CRUS, CMCSA, GLW, DD, EA, F, ILMN, LXK, NUE, OI, VMW, YHOO
Wednesday – BIIB, BA,
CTXS, DOW, EMC, FB, LRCX, LVS, PSX, QCOM, TSCO, VLO
Thursday – MMM, ALXN,
AMZN, BZH, BRCM, CELG, CMG, CL, LLY, XOM, GOOG, HOG, JDSU, MTW, OSTK, BTU, POT,
PHM, RVBD, RYL, SHW, BX, TWC, UPS, VIAB, V, WHR,
Friday – BIDU, CVX, CNX, MA, MAT, NOV, PCAR, SPG, TSN
Q4 Earnings Reactions
Positive Reactions – V, GOOG,
CMG, CELG, QCOM, BA, FB, DD, F, CAT, RCL, JNPR, MSFT, KMB, PG, MXIM, SBUX,
NFLX, FFIV, URI, UNP, EBAY, MCD, CREE, TXN, UTX, NUAN, XLNX, BHI, DAL, RF, MS,
SLB, STI, AXP, SWKS, BAC, LLTC, WEN, MON, MU, STZ, APOL
Negative Reactions – AMZN,
ILMN, VMW, YHOO, HON, KSU, SWK, STT, ALTR, ISRG, KLAC, KEY, JCI, LMT, WDC, ABT,
BAX, ATI, COH, FCX, AMD, IBM, HAL, JNJ, TRV, VZ, GE, COF, INTC, UNH, C, GS,
CSX, FAST, AA, FDO, BBBY, SCHN,
Reversal of Initial
Reaction – FAST, FDO, AA
The Market Forecast Green Line is below 80.
____________________
Setups
H Breakout: JNPR, SCTY, ESRX, MSFT,
Diagonal Breakout: BAC, DDD, FSLR, MCP, SOHU, SPWR, SSYS, SWI,
TSL, Z, MU,
Bull Flag: NTAP,
Potential Bullish
Divergence: SCSS,
Gap Up:
Gap Down:
Bear Flag:
At Support:
C- Pattern:
Moves
New Highs:
Gap Up: GRPN, P, TWTR, FB, GOOG, ALXN
Gap Down:
H Breakout: QIHU, RCL, TSLA,
Diagonal Breakout: CIEN,
Breakout Test:
Bounce: A, CRM, FAS, GOGO, IBM, IWM, LNKD, LVS, NKE,
SPLK, SPY, TPX, VRSN, YNDX, ADSK, AKAM, AMZN, CMCSA, CTSH, DTV, EBAY, GILD,
GMCR, GRMN, PCLN, QCOM, TRIP, TXN, WDC, WYNN,
MACD Divergence
Bounce:
Bear Flag:
Support Break: ESI, CELG,
______________________
89 out of 100 NDX stocks
closed higher on Thursday.
Leading NDX 100 stocks included: ALXN, FB, AMZN,
TSLA, VRTX, BIIB, FOXA, CERN, REGN, WYNN, ADSK, VIAB
Lagging NDX stocks included: CTXS, SYMC, GOLD,
CELG
Leading stocks > +2% on Thursday
included: P, QIHU, TWTR, SPLK, GOGO, LVS, CRM, SCTY, YELP
Lagging stocks < -2.0% included: ESI, UNG, KKD
Stocks to Watch on Friday
Holding Above 30 DMA= 31
ILMN, ESRX,
MNST, CMCSA, AVGO, EQIX, AKAM, FFIV, VRTX, XLNX, CTRX, SBAC, AMGN, ISRG, MU,
MYL, BIIB, GILD, MXIM, NXPI, TSLA, NTAP, GOLD, NFLX, CHTR, ALTR, ALXN, CHKP,
REGN, CHRW, MSFT
Moving Above 30 DMA = 16
ADSK, AMZN, BRCM, CERN, DISH, DTV, FB, GMCR, GOOG, HSIC, ORLY,
SIAL, SRCL, VRSK, WDC, WYNN
Moving Below 30 DMA = 1
SYMC
Staying Below 30 DMA
SIRI, CSCO, STX, EBAY, PCLN, QCOM, AAPL, ADBE, AMAT, CA, CELG, CTSH,
EXPD, FAST, FISV, KLAC, LLTC, NVDA, PCAR, SNDK, TXN, VIP, VOD, ADI, ADP, BIDU,
CTXS, GRMN, KRFT, EXPE, INTC, INTU, LBTYA, MDLZ, TRIP, VIAB, YHOO, LINTA, TSCO,
ATVI, PAYX, ROST, DLTR, BBBY, FOXA, SPLS, DISCA, MAT, WFM, COST, LMCA,SBUX
Sixteen Week
Intermediate Term Market Trend: Up
3-Day Short Term Market
Trend: Neutral
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