DJIA Breaks 30 DMA...Stocks Move Higher Led By CIEN, NXPI, NVDA, CSCO, CMCSA, GOOG, UNH, XOM and PG...

All nine sectors moved higher on Friday…XLE, XLB and XLI were the strongest sectors…while XLF was the weakest sector.  

Breadth strengthened as advancers led decliners 2.01 to 1 on the NYSE and 1.12 to 1 on the NASDAQ.

Friday – weakened, advancers led

Thursday – strengthened, advancers led

Wednesday – weakened, advancers led

Tuesday – strengthened, advancers led

Monday – weakened, advancers led

SPY up 1.01 at 184.02 volume 96.5 million shares, below average volume

VIX down .57 at 13.57…

TNX up .10 at 27.46…

TLT up .06 at 106.58...

XLF up .03 volume 30.4 million shares, below average volume

AAPL down -0.44 at 543.99 volume 9.8 million shares, below average volume

FB down. -0.24 at 67.09…volume 36.8 million shares, below average volume

Technical Commentary: 

DIA + 0.81%, SPY + 0.55%, QQQ + 0.20%, IWM + 0.14%.

On Friday the DJIA led stocks higher while the NDX and RUT took a breather with logging just small gains.  The NDX was higher for th 7^th straight up day to a new high close.  The DJIA with 27 of 30 stocks higher was led by gains in UNH, XOM, PG, DIS and MMM.   

CSCO, CMCSA, GOOG and ADBE were the point leaders in the NDX on Friday.

Many stocks closed at or near their all-time high on Friday including: CRM, GLW, MTW, SPLK, ADBE, ADSK, ESRX, FB, GMCR, GOOG, NFLX, PCLN, SNDK, TRIP, and XLNX.

Trade with the trend of the chart you are trading and move your protective stops.  Be mindful of reversal patterns like double bottoms and MACD divergences.  Continue to follow your rules.

Short-term up trend Chart Targets:

SPY = 184.10, 187.99…

QQQ = 90.43, 92.25, 94.26…

IWM = 115.39, 117.37…

Support Levels

SPY = 181.85, 180.29 179.04

QQQ = 89.00, 87.74, 86.97

IWM = 113.65, 111.21

Q4 earnings season…

The majority of earnings season is done, however there are still several companies including ADSK, CRM, DISH, DTV, ESRX, GRMN, GRPN, MCP, MNST, PCLN, ROST, SCTY, SPLK, TSLA, WLT and YNDX that will report over the next several days…

Q4 Earnings Reactions

Positive Reactions – KRFT, AMAT, NVDA, SPWR, TRIP, REGN, CBOE, MCO, ATVI, AKAM, EXPE, GMCR, NXPI, ONNN, ORLY, SCSS, SWI, TWX, DIS, YELP, AGNC, KORS, KEYW, IDXX, XYL, YUM, NOV, SPG, TSN, ZNGA, ALXN, BRCM, BX, CMG, GOOG, JDSU, MTW, PHM, RYL, VIAB, V, BA, DOW, FB, LVS, QCOM, VLO, AKS, AAL, CHKP, EA, F, ILMN, LXK, 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 – A, GNC, VFC, WTW, WFM, ANGI, CSCO, DISCA, NTAP, RAX, CI, LNKD, VRSN, ADP, CTSH, HUM, MDC, P, TSO, TWTR, ADM, BWLD, CERN, CHRW, GILD, CVX, MA, MAT, PCAR, AMZN, MMM, CELG, CL, XOM, ESI, HOG, OSTK, POT, SHW, WHR, BA, CTXS, EMC, TSCO, CRUS, GLW, DD, F, VMW, YHOO, AAPL, STX, ZION, 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 (71)

Reversal of Initial Reaction – CSCO, ADP, CTSH, HUM, P, TSO, ADM, CERN, GILD, PCAR, MMM, CELG, HOG, POT, SHW, EMC, GLW, DD, VMW, YHOO, ZION, HON, SWK, ALTR, ISRG, KLAC, LMT, HAL, FAST, FDO, AA (31, 43.6%)

The Market Forecast Green Line is pointed up above 45 and rising.

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Setups

H Breakout: ATI, C, FSLR, IBM, JDSU, MS, MTW, NKE, NTES, QIHU, RCL, SFUN, SPY, SWI, TPX, TSL, V, XONE, ADSK, COST, CTSH, MSFT, SBUX, TRIP, WDC,

Diagonal Breakout: BAC, CSIQ, DRYS, GME, JNPR, MFRM, P, SOHU, STI, UAL, AAPL, FB, GILD, NFLX, XLNX,

Bull Flag: YELP, CMCSA, GMCR, MNST, WFM, YHOO,

Potential Bullish Divergence: 

Gap Up: 

Gap Down: 

Bear Flag: CREE, RAX, SINA, TWTR, UNG, VRSN, YOKU, AMZN, ROST, STX,

At Support: BBRY,

C- Pattern:

Moves

New Highs: MTW, ADBE, AKAM, ESRX, GOOG, MU, PCLN, SNDK,

Gap Up: CIEN, GLD, GLW, ZION

Gap Down: A, GNC, VFC, WTW

H Breakout: DDD, IWM, LVS, SCSS, SSYS, SWKS, X,

Diagonal Breakout:

Breakout Test: QCOM, SNDK,

Bounce: ATI

MACD Divergence Bounce:  

Bear Flag: GOGO,

Support Break: 

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65 out of 100 NDX stocks closed higher and on unchanged on Friday.

Leading NDX 100 stocks included: NXPI, NVDA, PCAR, MAR, ADBE, DISCA, CHKP, BBBY, VIP, WFM

Lagging NDX stocks included: VRTX, GMCR, DISH, AVGO, GILD, BIDU, TRIP, MAT, NTAP, REGN

Leading stocks > +2% on Friday included: CIEN, SSYS, DDD, RAX, X, ATI

Lagging stocks < -2.0% included: Z, GOGO, A, ANGI, TSL, BBRY, SFUN, LNKD, SCTY, YELP, GRPN, ANR

Stocks to Watch on Tuesday

Holding Above 30 DMA= 67

ILMN, ESRX, EQIX, FFIV, SBAC, MU, BIIB, MXIM, TSLA, NXPI, NFLX, ALTR, REGN, ALXN, WYNN, FB, GMCR, GOOG, ADBE, ORLY, DISH, EBAY, ADSK, AKAM, BRCM, DTV, PCAR, VRTX, ATVI, AVGO, CERN, EXPE, GILD, MNST, MYL, NVDA, QCOM, SIAL, SNDK, TRIP, MAR, AMGN, MSFT, PCLN, XLNX, ADI, AMAT, CHKP, COST, KLAC, TXN, CTRX, AAPL, CTSH, GRMN, HSIC, LINTA, LLTC, VIAB, WDC, KRFT, BIDU, CA, CELG, SBUX, VRSK

Moving Above 30 DMA = 6

CMCSA, CSCO, FOXA, LMCA, MDLZ, SRCL

Moving Below 30 DMA = 0

Staying Below 30 DMA

CHTR, DISCA, NTAP, WFM, CHRW, AMZN, SYMC, SIRI, STX, EXPD, FAST, FISV, VIP, VOD, ADP, CTXS, INTC, INTU, LBTYA, YHOO, TSCO, PAYX, ROST, DLTR, BBBY, SPLS, MAT

Sixteen Week Intermediate Term Market Trend: Up

3-Day Short Term Market Trend: Up