SPX, DJIA Squeeze Out New All-time Closing High, MNST, WFM Gain...Coal Stocks Higher Since Election...Semis Pullback...

Seven out of nine sectors moved higher on Friday…XLE, XLU and XLB were the strongest sectors while XLV was the weakest.

 

Breadth strengthened on the NYSE where advancers led decliners…1.58 to 1 and weakened on the NASDAQ where decliners led advancers 1.03 to 1.

Friday – mixed, mixed

Thursday – mixed, advancers led

Wednesday – strengthened, advancers led

Tuesday – weakened, decliners led

Monday – weakened, decliners led

SPY up .19 at 203.34 on 89.5 million shares, below average volume

VIX down .54 at 13.12…

TNX down .63 at 23.12…

TLT up 1.36 at 119.75...

XLF up .01 at 24.15 on 26.9 million shares, below average volume

AAPL up .31 at 109.01 on 33.6 million shares

FB up .34 at 75.60…on 20.7 million shares, below average volume

Technical Commentary:

DIA +0.17%, IWM +0.15%, SPY +0.09%, QQQ -0.09%.

SPY rose for the third consecutive week gaining 1.68, 0.83% which was significantly less the $7 plus and $5 plus of the previous two weeks. 

Semiconductors very weak on Friday following the QCOM negative earnings reaction on Thursday and the SWKS -2.26, -2.64% earnings reaction on Friday notwithstanding a positive report and Q4 guidance.  SWKS had gained more than $10 and 20% following raised guidance in October.

Other weak semiconductors which lost more than one percent on Friday included AVGO, ARMH, NVDA, ASML, SUNE, BRCM, KLAC and MU.

Coal stocks have been on a strong run since the election including ANR, BTU, ACI, CNX and WLT.

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 = 204.61, 207.33...

QQQ = 103.37, 106.94…

IWM = 117.48, 119.37, 121.27…

Support Levels

SPY = 201.90, 199.61, 198.06...

QQQ = 100.56, 99.59…

IWM = 115.04, 113.35...

Earnings this week:   CTRP, NTAP, DDD, JCP, SINA, VJET, CMGE, CSIQ, GOGO, NTES, RAX, XONE, YOKU, YY

Q3 Earnings Reactions

Positive Reactions – 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% - WFM, GPRO, GPRN, LNKD, BWLD, SWI, N, EW, TSCO, NKE, ULTA, LULU, PANW, MFRM,

Negative Reactions – 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% - FSLR, UBNT, ZU, AEM, P, TPX,

Reversal in progress – AZO,

Reversal of Initial Reaction – AXP, ALTR, KKD, MRK, BBRY, MU,

The SPY Market Forecast is at 97.

___________________

Setups

Horizontal Breakout: AVGO, FFIV, GMCR, ROST, SBUX, BAC, BBY, C, CAR, GME, PANW,

Diagonal Breakout: GRMN, TSLA, DGLY, HOG, MTW, SPWR, SUNE, SWI, YNDX,

Bull Flag: BIDU, BRCM, CELG, CMCSA, GILD, GOOGL, ILMN, INTC, MU, MYL, NFLX, SNDK, STX, WDC, XLNX, AA, CIEN, ETFC, GLW, GPRO, IWM, JSDU, LNKD, NKE, QIHU, RCL, TSL, UAL,

Bear Flag: TRIP, FEYE,

At Support: QCOM,

Moves

New Highs: BABA, SPY, AAPL, FAS, ADSK, COST, MNST, MSFT, WFM, YHOO, AAL, MFRM, MS, SCSS, V,

H Breakout: BX, UA,

Breakout Test: UNG,

Bull Flag Bounce: AKAM, EXPE, MAR, SINA, AMBA, BBRY, CRM, SOHU, SPLK, X,

Bounce: AMZN, ATI, Z

MACD Divergence Bounce: IBM,

Gap Up: MNST, GLD,

Gap Down: FSLR, UBNT

______________________

39 of 100 NDX stocks closed higher and two were unchanged on Friday.

Leading NDX 100 stocks included: MNST, WFM, SBAC, CTSH, LBTYA, YHOO, VIP, EXPE, CA, FFIV

Lagging NDX stocks included: AVGO, NVDA, NTAP, FOXA, QCOM, ILMN, ISRG, STX, CHTR, CERN

Leading stocks > +2% on Friday: JCP, ATI, X, P, Z, SPLK, , GLD, BX, BABA, YOKU, BBRY, AMBA, SOHU, MFRM, GOGO

Lagging stocks < -2.0% included: UBNT, FSLR, SWKS, SFUN, SSYS, UAL, ETFC, GME, MBLY

Stocks to Watch on Monday

Holding Above 30 DMA= 87

GMCR, ROST, CHRW, GRMN, MYL, SRCL, DLTR, ISRG, MNST, PAYX, REGN, ADP, ALXN, BIDU, COST, ORLY, TSCO, VRTX, XLNX, AAPL, AMGN, BBBY, CELG, ESRX, FISV, GILD, HSIC, ILMN, KRFT, MAR, PCAR, SPLS, SYMC, TXN, BRCM, YHOO, CA, CERN, CHKP, CTSH, EXPD, INTU, LBTYA, NVDA, SBAC, SBUX, STX, ADBE, ADSK, CMCSA, KLAC, LMCA, MDLZ, MSFT, VRSK, AMAT, LMCK, MU, WFM, AVGO, FFIV, NTAP, NXPI, VOD, WDC, AKAM, BIIB, CTRX, DISH, EQIX, SIRI, ADI, ALTR, ATVI, CSCO, DTV, EBAY, EXPE, FAST, INTC, LLTC, MAT, MXIM, SNDK, FOXA, QCOM, TSLA

Moving Above 30 DMA = 1

CTXS,                                                 

Moving Below 30 DMA = 0

                                                                                       

Staying Below 30 DMA

QCOM, TSLA, GOOG, WYNN, PCLN, SIAL, TRIP, DISCA, FB, NFLX, VIAB, AMZN

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up