Five of nine sectors
moved higher and XLU was unchanged on
Tuesday…XLY, XLI and XLV were the strongest
sectors while XLE was the
weakest.
Breadth weakened as
advancers led decliners…1.15 to 1 on
the NYSE and
decliners led advancers 1.03 to 1 on the NASDAQ
Tuesday – weakened, mixed
Monday – mixed,
advancers led
Friday – strengthened,
advancers led
Thursday – strengthened,
advancers led
Wednesday – weakened,
decliners led
SPY down .15 at 207.11 on 78.9 million shares, below average volume
VIX down .37 at 12.25…
TNX down .50 at 22.60…
TLT up 1.00 at 121.20...
XLF down .02 at 24.35 on 23.4 million shares
AAPL down 1.02 at 118.60 on 68.7 million shares
FB up 1.62 at 75.63…on 32.2 million shares, below average volume
Technical Commentary:
QQQ +0.15%,
DIA + 0.09%, IWM +0.08%,
SPY -0.07%.
While the DIA and QQQ inched to new highs,
indexes on Tuesday were near on changed on light volume heading into the
Thanksgiving Day weekend. Financials XLF and semiconductors SOX were both near unchanged adding to
the narrow trading range on Tuesday.
The SPX which finished slightly lower was led by gains in PLL +3.50%,
CMCSA +2.92%, URI +2.83%, TWC +2.82%
and NEM +2.82%. PLL rose on a
positive earnings reaction, CMCSA rose
following positive analyst comments, URI
gained on continued strong buying, TWC
rose after news of HBO distribution agreement in China and NEM gain following Monday’s pull back after
announcing $100 million prepayment of debt.
PANW +6.93, +6.12% gains on positive earnings reaction.
FB +1.62, +2.19% following a report that Facebook at Work could be launched in
January and will compete directly against LNKD,
MSFT’s OneDrive and GOOG’s Drive.
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 = 103.37, 106.94…
IWM = 117.48, 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...
Q3 Earnings Reactions
Positive Reactions – PANW, 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 – 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 – P, PCLN, TPX, NFLX,
COH, GRMN, KO, MDC, VMW,
Reversal of Initial
Reaction – AMZN, FEYE, SWKS, Z, BA, BAC, CHRW, CMG, COF, CREE, DECK, DNKN, DOW,
EAT, EBAY, F, GM, GOOGL, INTC, JNJ, JNPR, JPM, KEY, LMT, LUV, MAT, NDAQ, UA,
WFC, XRX, ADBE, ALTR, ALTR, AXP, AZO, BTU, K, KKD, KRFT, MRK, PNRA,
The SPY Market Forecast is at 97.
___________________
Setups
Horizontal Breakout: AA,
C, CIEN, CREE, DGLY, ETFC, HPQ, IWM, JDSU, KNDI, LVS, MTW, SCSS, SCTY, SSYS, STI,
SUNE, TSL, X, XONE, JCP, ADBE, MAR, MU, YHOO
Diagonal Breakout: FEYE,
LNKD, SOHU, ZION, GILD, GOOGL, SNDK,
Bull Flag: CMGE, DAL, EMC,
MS, P, SCHW, SPLK, UAL, Z, ADSK, EBAY, EXPE, GRMN, MSFT
Gap Down: CSIQ,
Bear Flag: BBRY, FSLR, GLD, LOCO, UBNT,
At Support: JD, TWTR, YOKU
Moves
New Highs: BX, CAR, GLW,
KKD, PANW, RAX, SWI, V, ESRX, INTC, MNST, ROST,
H Breakout: JNPR, CMCSA,
PCLN, QCOM,
D Breakout: FB,
Breakout Test: AIG, SBUX,
Bull Flag Bounce:
AAL, MFRM, UNG, TSLA,
Bounce: CRM, GPRO, X,
YY
MACD Divergence Bounce:
Gap Up: PANW, QIHU, CMCSA
______________________
53 of 100 NDX stocks closed higher on Tuesday.
Leading NDX 100 stocks included: CMCSA, LMCK, FOXA, CHTR, FB, ADI, ATVI, SBAC,
PCLN, EXPD
Lagging NDX stocks included: GRMN, VIP, NFLX, ILMN, CERN, WYNN, SPLS, TSCO,
ORLY, AMGN
Leading stocks > +2% on Tuesday:
QIHU, PANW, UNG, GPRO, X, TSL, MFRM, CAR, AAL, CRM
Lagging stocks < -2.0% included:
CTRP, DGLY, YOKU, ANGI, SFUN, CMGE, P
Stocks to Watch on Wednesday
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, VRSK, AMAT, LMCK, MU, WFM, AVGO, FFIV, NTAP, NXPI, VOD, WDC, AKAM, BIIB,
CTRX, DISH, EQIX, SIRI, ADI, ALTR, CSCO, DTV, EBAY, EXPE, FAST, INTC, LLTC,
MAT, MXIM, SNDK, FOXA, QCOM, TSLA, PCLN, SIAL, AMZN, CHTR, VIAB, ATVI, CTXS,
DISCA
Moving Above 30 DMA =
1
GOOG
Moving Below 30 DMA = 0
VIP
Staying Below 30 DMA
GMCR, WYNN, BIIB, GILD, QCOM, TRIP, FB, NFLX
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market
Trend: Up
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