Seven out of nine
sectors
moved higher on Monday…XLE, XLI and XLV were the strongest sectors…while
XLB was the weakest sector.
Breadth strengthened as advancers
led decliners 1.64 to
1 on the NYSE and 1.83 to
1 on the NASDAQ.
Monday – strengthened, advancers led
Friday – weakened,
advancers led
Thursday – strengthened,
advancers led
Wednesday – weakened,
decliners led
Tuesday – strengthened,
advancers led
SPY up .02 at 184.91 volume 113.6 million shares
VIX down .45 at 14.23…
TNX up .16 at 27.50…
TLT down .27 at 106.40...
XLF up .16 volume 41 million shares
AAPL up 2.30 at 527.55 volume 10.3 million shares
FB up 2.19 at 70.78…volume 76.6 million shares, above average volume
Technical
Commentary:
IWM + 0.73%,
SPY + 0.55%, DIA + 0.53%, QQQ + 0.53%.
Stocks
rallied today with the S&P 500 hitting a new intraday high
but faded just below a record closing high…ending the day up 11.36…while the DJIA closed with triple
digits for the day up 103.84 and the NASDAQ closing up 29.56.
IWM is within striking distance of making
an all-time new high but will have to break horizontal resistance of January 22nd…QQQ
closed at a new high.
FB…TSLA…and GOOG all made new highs
today…FB gaining 3.19%, TSLA gaining 3.84% and GOOG gaining .72%.
(Posted
Last Week on Friday)
If
financials gain strength next week that improves the probabilities that the SPX
will break through its 1,850 resistance area. With the NDX, XLV, XLU above resistance
and XLK and XLB at resistance we will watch
for a potential horizontal breakout entry on the SPX next week and
for the trend to continue higher.
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 a few companies including ADSK, CRM, FSLR, MCP, MNST, ROST, SINA, SCTY, YOKU, DRYS, TSL, SSYS and DDD that
will report over the next few days…
Q4 Earnings Reactions
Positive Reactions – PCLN,
DISH, INTU, AEE, MDRX, ALEX, DTV, TSLA, GRMN, SWY, 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, UA, 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 – ESRX,
GRPN, YNDX, KO, A, GNC, WTW, VFC, WFM, ANGI, CSCO, DISCA, NTAP, RAX, CI, LNKD, TPX,
VRSN, ADP, CTSH, HUM, MDC, P, TSO, TWTR, ADM, BWLD, CERN, CHRW, DDD, 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 (93)
Reversal of Initial
Reaction – WDC, DISCA, XOM, CTXS, DDD, TPX, VZ, ABT, BAX, AAPL, CL, VRSN,
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 (43, 46%)
The Market Forecast Green Line is above 80.
____________________
Setups
H Breakout: ATI, BX, CSIQ, FAS, FSLR, IWM, MS, NKE, RCL,
SCTY, SPWR, SPY, TLT, TPX, UAL, YELP, FFIV, GILD, TXN, WDC,
Diagonal Breakout: BAC, DRYS, STI, CELG,
Bull Flag: CIEN, JNPR, P, QIHU, MU,
One Day:
Potential Bullish
Divergence:
Gap Up:
Gap Down:
Bear Flag:
At Support: ANGI, WLT,
NTAP,
C- Pattern:
Moves
New Highs: AAL, GLW, LVS, SPLK, SWKS, ADBE,
AKAM, CTSH, FB, NFLX, SNDK, TRIP, TSLA, WYNN,
Gap Up: SINA,
Gap Down: DDD, NTES, SFUN,
H Breakout: EBAY,
Diagonal Breakout: BBRY, GME, MFRM,
Breakout Test:
Bounce: C, LNKD, V, Z, ZION, ROST,
MACD Divergence Bounce:
Bear Flag:
Support Break: X,
______________________
68 out of 100 NDX
stocks closed higher and two were
unchanged on Monday.
Leading NDX 100 stocks included: VOD, TSLA, REGN,
NFLX, FB, WYNN, EBAY, PCAR, ROST, ILMN, SPLS
Lagging NDX stocks included: ADSK, MYL, CHRW,
LINTA, SBAC, MU
Leading stocks > +2% on Monday
included: BBRY, CSIQ, SWKS, LVS, SINA, Z, LNKD, SCTY
Lagging stocks < -2.0% included: SFUN, UNG, DDD, Z, GRPN, GOGO, INTES
Stocks to Watch on Tuesday
Holding Above 30 DMA= 71
ILMN,
EQIX, FFIV, SBAC, ISRG, MU, BIIB, MXIM, TSLA, NXPI, NFLX, ALTR, ALXN, REGN,
GOOG, WYNN, FB, GMCR, ADBE, ORLY, DISH, EBAY, ADSK, AKAM, AVGO, BRCM, DTV,
PCAR, VRTX, AMGN, ATVI, CERN, EXPE,GILD, MNST, MSFT, MYL, NVDA, PCLN, QCOM,
SNDK, TRIP, MAR, XLNX, ADI, AMAT, CHKP, KLAC, TXN, CTRX, CTSH, GRMN, HSIC,
LINTA, LLTC, VIAB, KRFT, BIDU, VRSK, MDLZ, LMCA, FOXA, FISV, LBTYA, DISCA,
CTXS, FAST, INTU,VOD, WDC, WFM
Moving Above 30 DMA = 6
BBBY, CA, CELG, DLTR, ROST, SIAL
Moving Below 30 DMA = 5
SIRI
Staying Below 30 DMA
AAPL, COST, ESRX, CMCSA, CSCO, SBUX, SRCL, NTAP, CHTR, CHRW, AMZN, SYMC
STX, EXPD, VIP, ADP, INTC, YHOO, TSCO, PAYX, SPLS, MAT
Sixteen Week
Intermediate Term Market Trend: Up
3-Day Short Term Market
Trend: Up
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