All nine
sectors
moved higher on Thursday…XLU, XLB and XLK were the strongest sectors…while
XLI was the weakest sector.
Breadth strengthened as advancers
led decliners 2.86 to
1 on the NYSE and 2.66 to
1 on the NASDAQ.
Thursday – strengthened, advancers led
Wednesday – weakened,
advancers led
Tuesday – strengthened,
advancers led
Monday – weakened,
advancers led
Friday – strengthened,
advancers led
SPY up .94 at 183.01 volume 98.8 million shares
VIX down .16 at 14.14…
TNX down .27 at 27.36…
TLT up .60 at 106.52...
XLF up .08 volume 31.9 million shares
AAPL up 8.51 at 544.43 volume 10.9 million shares
FB up 2.88 at 67.33…volume 61.8 million shares
Technical
Commentary:
DIA +
0.36%, SPY + 0.52%, QQQ + 0.74%, IWM + 1.27%.
Stocks
traded higher for the most part on Thursday with the NASDAQ gaining for
the 6th straight day of trading…closing up 39.38…while the S&P 500 was up 10.57 and the DJIA gained 63.63.
Many
stocks closed at their all-time high including: CRM,
GLW, MTW, SPLK, ADBE, ADSK, ESRX, FB, GMCR, GOOG, PCLN, SNDK, TRIP, and XLNX.
ANGI gapped down on earnings
reaction and closed down 6.84% on volume of 83.2
million shares. WFM gapped to support after earnings closing down 4.00 or 7.21%.
SCTY broke diagonal resistance with a bounce…gaining 4.45 or 6.23%...earnings will be reported later this
month on February 24th.
In after-hours trading
and after reported earnings A is
down 3.60 or 5.99%...Also
reporting earnings with a negative reaction is GNC which is trading down 8.29 or 15.82% in after-hours trading.
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 = 182.54, 184.69…
QQQ = 89.00, 92.25, 94.26…
IWM = 113.65, 117.37…
Support Levels
SPY = 179.81, 178.08
QQQ = 87.74, 86.97
IWM = 111.34, 110.40
Q4 earnings season…
The majority of earnings
season is done, however there are still several companies including AMAT, CSCO, DISCA, DISH, GRMN, KRFT, NTAP,
NVDA, PCLN, REGN, TRIP, TSLA and WFM that will report over the next several days…
Q4 Earnings Reactions
Positive Reactions –
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 – WFM,
NTAP, ANGI, 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
Reversal of Initial
Reaction – CTSH, P, ADM, CERN, GILD, GLW, HON, FAST, FDO, AA
The Market Forecast Green Line is pointed up above 45 and rising.
____________________
Setups
H Breakout: A, GLW, GRPN, IBM, JDSU, P, QIHU, SCSS, SWI,
X, Z, EBAY, GILD, GRMN, MSFT, WDC,
Diagonal Breakout: CIEN, GOGO, SOHU, UAL, AAPL,
Bull Flag:
Potential Bullish
Divergence:
Gap Up:
Gap Down:
Bear Flag: CREE, KKD,
At Support:
C- Pattern:
Moves
New Highs: CRM, GLW, MTW, SPLK, ADBE, ADSK, ESRX,
FB, GMCR, GOOG, PCLN, SNDK, TRIP, XLNX,
Gap Up:
Gap Down: ANGI, CMCSA, NTAP, WFM,
H Breakout: FSLR, IWM, NKE, SPWR, CTSH,
Diagonal Breakout: SCTY, SSYS,
Breakout Test:
Bounce: CSIQ, DDD, RAX, SFUN,
MACD Divergence
Bounce:
Bear Flag:
Support Break:
______________________
87 out of 100 NDX
stocks closed higher on Thursday.
Leading NDX 100 stocks included: AMAT, FB, VRSK,
SNDK, NVDA, ILMN, ADBE, CELG, CTXS
Lagging NDX stocks included: WFM, CHTR, DISCA,
CMCSA, NTAP, CSCO, FOXA
Leading stocks > +2% on Thursday
included: SCTY, UNG, CSIQ, TSL, DDD, SPWR, SFUN
Lagging stocks < -2.0% included: ANGI, BBRY
Stocks to Watch on Friday
Holding Above 30 DMA= 61
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, CSCO, 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
Moving Above 30 DMA = 3
CA, SBUX, VRSK
Moving Below 30 DMA = 5
CMCSA, NTAP, WFM, DISCA,
CHTR
Staying Below 30 DMA
SRCL, CHRW, AMZN, SYMC,
SIRI, STX, CELG, BIDU, EXPD, FAST, FISV, VOD, VIP, ADP, CTXS, INTC, INTU, MDLZ,
LBTYA, YHOO, TSCO, PAYX, ROST, DLTR,BBBY, SPLS, FOXA, MAT, LMCA
Sixteen Week
Intermediate Term Market Trend: Up
3-Day Short Term Market
Trend: Up
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