Black
Friday ends in red on SPY and IWM.
Six of nine sectors
moved higher on Friday…XLP, XLY and XLU were the strongest sectors while XLE was again the weakest.
Breadth weakened as
decliners led advancers…1.61 to 1 on the NYSE and 2.03 to 1 on the NASDAQ.
Friday – weakened, decliners
led
Thursday – Thanksgiving
Holiday
Wednesday – strengthened,
advancers led
Tuesday – weakened, mixed
Monday – mixed,
advancers led
SPY down .44 at 207.20 on 55.6 million shares, below average volume
VIX up 1.26 at 13.33…
TNX down .40 at 21.94…
TLT up .96 at 122.49...
XLF up .02 at 24.40 on 7.8 million shares
AAPL down .07 at 118.93 on 24.7 million shares
FB up .08 at 77.70…on 15.9 million shares, below average volume
Technical Commentary:
QQQ +0.46%,
DIA + 0.05%, SPY -0.21%,
IWM -1.49%.
Oil stocks, XLE -5.48, 6.42% are
crushed in Friday trading after OPEC holds production steady. Airline stocks
soar as XAL +3.71, +3.92% gaps higher
with UAL +8.18%, AAL
+7.92%, JBLU +7.57%, LUV
+6.47, DAL +5.49% and
ALK +5.04% with big gains
and several horizontal resistance breakouts on rising volume.
(click image to enlarge)
DIA made a new all-time
high by 9 cents while QQQ led
with a new bull market closing high.
IWM closed lower. Friday was a half-day of trading with lighter volume in the broad index ETFs.
Trade with the trend of
the chart you are trading and
continue to move your profit protection stops. Continue to follow your rules.
Short-term Chart Targets:
SPY = 207.33, 209.06, 210.49...
QQQ = 106.94…
IWM = 118.25, 119.37,
121.27…
Support Levels
SPY = 205.71, 203.13, 201.90...
QQQ = 102.42, 101.38, 100.56…
IWM = 115.04, 114.37,
113.35...
Earnings this week: AMBA, AVGO, KKD, MFRM
Q3 Earnings Reactions
Positive Reactions –
ADI, HPQ, PANW, QIHU, ADSK, JASO, ROST, SPLK, GOGO, RAX, NTES,
XONE, YOKU, VJET, BABA, MNST, WFM, ABC, ACI, AMGN, BIDU, BWLD,
CBOE, CLF, CLX, CNX, EA, ESRX, EQIX, EXPE, FISV, GLW, GPRO, GRPN, GT, HSY, JCI,
JDSU, LNKD, LVLT, MA, MAR, MO, MTW, MYL, PCAR, FE, SCHN, STX, SWI, SWKS, TASR,
V, WY, X, WHR, AAPL, ALK, ALXN,
APOL, BMY, BRCM, CAT, CELG, CERN, CHKP, CMCSA, CNI, EMC, EW, GD, HAL, HAS, HOG,
ILMN, IM, KLAC, KMB, LLY, LRCX, LXK, MMM, MXIM, MSFT, N, ORLY, PG, RMD, STLD,
STT, SWK, TRV, TSCO, TXN, UNP, VRSN, WOOF, YHOO, YNDX, ZION, AMD, C,
CSX, DAL, GE, HON, LVS, MS, SCHW, SLB, STI, URI, XLNX, COST, BBBY,
BBRY, MU, NKE, PAYX, LULU, PANW, ULTA, MFRM, SPLK,
More than 10% - GOGO, RAX, WFM, GPRO,
GPRN, LNKD, BWLD, SWI, N, EW, TSCO, NKE, ULTA, LULU, PANW, MFRM,
Negative Reactions – GME,
CRM, JD, MBLY, SINA, YY, SWKS, FEYE, FSLR, PCLN, QCOM,
TRIP, SCTY, SSYS, SUNE, UBNT, Z, ZU, AEM, CHRW, COH, FB, GRMN, KRFT, MDC, MRK,
NEM, PNRA, RGR, SLCA, TPX, TWTR, ALTR, AMZN, BA, BTU, CMG, CREE, DECK,
DNKN, DOW, EAT, F, GM, IBM, JNPR, KO, LMT, LUV, NDAQ, P, UA, VMW, XRX, YELP,
AXP, BAC, COF, EBAY, GOOGL, INTC, JNJ, JPM, KEY, MAT, NFLX, WFC, AZO,
ADBE, KKD, CIEN,
More than -10% - GME, CSIQ, FSLR,
UBNT, ZU, AEM, P, TPX,
Reversal in progress – GOGO, P, PCLN, TPX, KO,
Reversal of Initial
Reaction – AMZN, FEYE, SWKS, Z, ADBE, ALTR, ALTR, AXP, AZO, BA, BAC, BTU, CHRW, CMG,
COF, COH, CREE, DECK, DNKN, DOW, EAT, EBAY, F, GM, GOOGL, GRMN, INTC, JNJ,
JNPR, JPM, KEY, KKD, KO, KRFT, LMT, LUV, MAT, MDC, MRK, NDAQ, PNRA, UA, VMW, WFC,
XRX,
The SPY Market Forecast is at 97.
___________________
Setups
Horizontal Breakout: TRIP,
BX, CREE, CIEN, DGLY, ETFC, NTES, QIHU,
Diagonal Breakout: GILD,
NTAP, PCLN, TSLA, YHOO, BABA, BAC, JDSU, LNKD, MS, P, SCHW, SCSS,
Bull Flag: GRMN, MSFT,
AIG, ATI, C, CAR, JASO, LVS,
Potential Bullish
Divergence: NFLX, WYNN,
At Support: GILD, FEYE, JD, LOCO, MBLY, MTW, SSYS
Moves
New Highs: QQQ, DIA, FAS,
AAL, DAL, UAL, LUV, ALK, JBLU, SAVE, ADBE, ADSK, AKAM, BRCM, CELG, CMCSA, COST,
ESRX, INTC, MAR, MNST, MU, ROST, SBUX, STX, TXN, WFM, AMBA, BBY, NKE, PANW, RAX,
RCL, SWI, UA, V,
H Breakout: AMZN,
MAR, WFM, JCP,
Breakout Test: FFIV, SNDK, XLNX,
Bull Flag Bounce: EBAY,
EXPE, SBUX, CMGE, EMC, HOG, NKE,
Bounce: CRM, CTRP, GME,
TWTR,
Gap Up: AAL, DAL,
UAL, LUV, JBLU, ALK, JDST, RCL, CCL,
Gap Down: XLE, SUNE, UNG, X,
Bear Flag: FSLR, GLD, SCTY, UBNT,
Support
Break: CSIQ, YNDX, ZION
______________________
79 of 100 NDX stocks closed higher and two were unchanged
on Friday.
Leading NDX 100 stocks included: LBTYA, EXPD, KLAC, VOD, MAT, VRTX, ROST, SBUX,
EXPE, INTU
Lagging NDX stocks included: VIP, TSLA, NFLX, ATVI, SNDK, PCLN, ILMN, PCAR,
AVGO, WDC
Leading stocks > +2% on
Friday: CMGE, UAL, AAL, DAL, RCL, JCP, HOG
Lagging stocks < -2.0% included: CSIQ, JASO, TSL, MTW, X, FSLR, DGLY, SUNE,
YNDX, YY, FEYE, SPWR, ATI, UNG, ZION, GLD, MBLY, SCTY, UBNT, YELP, WLT
Stocks to Watch on
Monday
Holding Above 30 DMA= 90
ROST, CHRW, GRMN, MYL,
SRCL, DLTR, ISRG, MNST, PAYX, REGN, ADP, ALXN, BIDU, COST, ORLY, TSCO, VRTX,
XLNX, AAPL, AMGN, BBBY, CELG, ESRX, FISV, HSIC, ILMN, KRFT, MAR, PCAR, SPLS,
SYMC, TXN, BRCM, YHOO, CA, CERN, CHKP, CTSH, EXPD, INTU, LBTYA, NVDA, SBAC,
SBUX, STX, ADBE, ADSK, KLAC, LMCA, MDLZ,
MSFT, AMAT, LMCK, MU, WFM, AVGO, FFIV, NTAP, NXPI, VOD, WDC, AKAM, CTRX,
DISH, EQIX, SIRI, ADI, ALTR, CSCO, DTV, EBAY, EXPE, FAST, INTC, LLTC, MAT, MXIM,
SNDK, FOXA, TSLA, PCLN, SIAL, AMZN, CHTR, VIAB, ATVI, CTXS, DISCA, FB
Moving Above 30 DMA =
2
GOOG, QCOM
Moving Below 30 DMA = 0
Staying Below 30 DMA
VRSK, VIP, GMCR, WYNN, BIIB, GILD, TRIP, NFLX
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market
Trend: Up
