All nine
sectors
moved higher on Thursday…XLY, XLF and XLB were the strongest sectors…while
XLV was the weakest sector.
Breadth strengthened as advancers
led decliners 3.15 to
1 on the NYSE and 1.81 to
1 on the NASDAQ.
Thursday – strengthened, advancers led
Wednesday – weakened,
decliners led
Tuesday – strengthened,
advancers led
Monday – weakened,
decliners led
Friday – weakened,
decliners led
SPY up 2.31 at 177.48 volume 132.7 million shares, above average volume
VIX down 2.72 at 17.23…
TNX up .35 at 27.02…
TLT down .46 at 106.70...
XLF up .32 at 21.03 volume 39.9
million shares
AAPL up 2.97 at 512.51 volume 9.2 million shares
FB down .03 at 62.16…volume 42 million shares…lower than average volume
Technical
Commentary:
SPY +
1.32%, QQQ + 1.28%, DIA + 1.27%, IWM + 0.79.
With jobless
claims dropping 20,000 to 331,000 for the week…investors took note and reacted
positively with Thursday’s trading session with the best gains in seven
weeks. DJIA added 188.30 and
the S&P 500 closed up 21.79.
Bounce,
bounce, bounce, was the drum roll of the day…with many stocks bouncing from
their recent lows. Of note, GMCR
after posting earnings…closed up 21.22 or 26.24% as did AKAM up 9.76 or 20.58% and
YELP with positive earnings gaining 14.23 or 18.92%.
Investors
reacted negatively to TWTR…with concerns for future growth outlook and
earnings report…TWTR was in a free fall with a gap down closing down 15.94 or 24.16%.
In
after-hours trading and after earnings report…LNKD is down 18.95 or 8.48%. Investors
are pleased with EXPE reported earnings…in after-hours trading EXPE
is up 8.56
or 13.14%.
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 = 179.81…
QQQ = 86.80…
IWM = 111.02, 113.65…
Support Levels
SPY = 173.95, 172.14
QQQ = 84.29, 83.50,
82.72
IWM = 108.39, 106.76
Q4 earnings season…
Monday – AEIS, AGNC
Tuesday – ADM, BWLD, CHRW, CME, GILD, HCA, IP, KORS, KEYW
Wednesday – AKAM, ADP, BIDU, CTSH, FISV, GMCR, HUM, MDC, MRK, NXPI, ORLY, P, SCSS, SWI, TSO, NDAQ, TWX, TWTR, DIS, YELP
Thursday – ATVI, LNKD, SIAL, TPX, VRSN
Friday – CBOE, CI, MCO
Q4 Earnings Reactions
Positive Reactions – TPX,
LNKD, ATVI, TWX, MYGN, LVLT, CVD, AGNC, KORS, 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 – VRSN,
ADP, CTSH, GILD, HUM, MDC, ADM, 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 – HON, FAST, FDO, AA
The Market Forecast Green Line turned up below 25 on
Thursday.
____________________
Setups
H Breakout: RCL, ADBE,
Diagonal Breakout: A, ATI, CSIQ, JNPR, MCP, RAX, V,
Bull Flag: ANGI, MTW, QIHU, TLT, FB,
Potential Bullish
Divergence:
Gap Up:
Gap Down:
Bear Flag:
At Support:
C- Pattern:
Moves
New Highs:
Gap Up: YELP, AKAM, COST, GMCR,
Gap Down: TWTR,
H Breakout: LNDK, WFM,
Diagonal Breakout: BBRY, C, IBM,
Breakout Test:
Bounce: BAC, CIEN, CREE, DDD, DRYS, FAS, GOGO, IWM,
KKD, LVS, MFRM, MS, NKE, SCSS, SOHU, SPY, STI, SWKS, TPX, UAL, X, XONE, YOKU,
Z, ADSK, AMZN, BIDU, CTSH, DTV, EBAY, ESRX, FFIV, GOOG, GRMN, INTC, MNST, MU,
PCLN, QCOM, ROST, SBUX, SNDK, TRIP, TXN, WYNN, XLNX,
MACD Divergence
Bounce:
Bear Flag:
Support Break:
______________________
84 out of 100 NDX
stocks closed higher on Thursday.
Leading NDX 100 stocks included: GMCR, AKAM, ORLY,
NXPI, ROST, VOD, MU, WYNN
Lagging NDX stocks included: GILD, FISV, SRCL
Leading stocks > +2% on Thursday
included: YELP, Z, DRYS, SCSS, YNDX, SFUN, TPX, LNKD, FAS
Lagging stocks < -2.0% included: TWTR, P, ANGI, UNG
Stocks to Watch on Friday
Holding Above 30 DMA= 26
ILMN,
ESRX, CMCSA, EQIX, FFIV, SBAC, ISRG, MU, BIIB, MXIM, TSLA, NXPI, GOLD, NFLX,
CHTR, ALTR, ALXN, REGN, GOOG, WYNN ,FB, GMCR, ADBE, ORLY, DISH, EBAY
Moving Above 30 DMA = 9
ADSK, AKAM, AVGO, BRCM, CSCO, DTV, PCAR, VRTX, WFM
Moving Below 30 DMA = 2
GILD, SRCL
Staying Below 30 DMA
CERN, CHRW, NTAP, AMGN,
CHKP, HSIC, MSFT, MYL, QCOM, SIAL, XLNX, WDC, AMZN, MNST, CTRX, VRSK, SYMC,
SIRI, STX, PCLN, AAPL, AMAT, CA, CELG, CTSH, EXPD, FAST, FISV, KLAC, LLTC,
NVDA, SNDK, VOD, TXN, VIP, ADP, BIDU, CTXS, GRMN, ADI, KRFT, EXPE, INTC, INTU,
MDLZ, LBTYA, TRIP, YHOO, VIAB, LINTA, TSCO, ATVI, PAYX, ROST, DLTR, BBBY, SPLS,
FOXA, MAT, DISCA, COST, SBUX, LMCA
Sixteen Week
Intermediate Term Market Trend: Up
3-Day Short Term Market
Trend: Up
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