Oil Stocks Collapse and Airline Stocks Soar as Black Friday Gets Red in SPY and IWM...

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.

Semiconductors were mixed with gainers KLAC, ASML, TSM, LLTC, ALTR, INTC, MU and AMAT.  Weak semis on Friday included RFMD, CREE, SNDK, TER and SWKS

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