NDX, SPX, DJIA End 2014 with Double-Digit Gains...Bull Flag Pattern Forming...Happy New Year 2015...

All nine sectors again moved lower on Wednesday…XLY, XLE and XLB were the strongest sectors and XLU was the weakest.

 

Breadth was mixed as decliners led advancers 1.81 to 1 on the NYSE and 1.31 to 1 on the NASDAQ.

Wednesday – mixed, decliners led

Tuesday – weakened, decliners led

Monday – weakened, advancers led

Friday – strengthened, advancers led

Thursday – Christmas Holiday

SPY down -2.06 at 205.54 on 130.3 million shares

VIX up 3.28 at 19.20…

TNX down .20 at 21.70…

TLT up .24 at 125.92...

XLF down .28 at 24.73 on 24.2 million shares

AAPL down 2.14 at 110.38 on 41.4 million shares

FB down 1.20 at 78.02…on 20 million shares

Technical Commentary:

IWM -0.60%, DIA -0.88%, SPY -0.99%, QQQ -1.03%.

2014 is in the books with a terrific year that finished with a pullback on the last two days forming a bull flag going into 2015.  The broad indexes finished 2014 with positive annual gains; NDX +19%, SPX +12.5%, DJIA +8.5% and RUT +4.65%.

The SPY closed lower on the last day of the year.  The SPX was led to the downside by weakness in DO, FE, NE ETR, NRG, EXC, PEG, HOY, PPL and DOV.

The IWM finished the year with a bull flag pullback test of the recent breakout of the yearlong sideways channel.  IWM short-term Chart Target: 124.07; 6-month Chart Target: 136.30

SPY, IWM, QQQ, DIA, XLK, XLP, XLU, EA, EBAY, FB, QCOM, STX, WDC, BX, CIEN, CRM, EMC, ETFC, GLW, JNPR, LNKD, MTW, PANW, RAX, SCHW, SWKS and V are in bull flag patterns.  SOHU gave a flag bounce entry.

Look for bull flag setups in stocks that are up trending or reversal breakouts from stocks that recently pulled back.

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 = 119.90, 121.88, 124.07…

Support Levels

SPY = 207.33, 204.24...

QQQ = 103.08, 102.40…

IWM = 118.34, 116.15...

The SPX Market Forecast is at 89. 

___________________

17 out of 100 NDX stocks closed higher on Tuesday.

Leading NDX 100 stocks included: TSCO, NXPI, MAT, LVNTA, ISRG, SPLS, REGN, BRCM, BBBY, AAL

Lagging NDX stocks included: VIP, DISCA, CSCO, EBAY, AAPL, MDLZ, SNDK, AKAM, WYNN, NVDA

Leading stocks > +2% on Wednesday: TSL, Z, SOHU, CSIQ, JASO, SUNE

Lagging stocks < -2.0% included: UNG, RWLK, DGLY, FAS, GPRO, AMBA, FEYE, LC

Stocks to Watch on Friday

Holding Above 30 DMA = 53

ROST, DLTR, AAL, ORLY, SPLS, TSCO, BBBY, PCAR, EA, AMAT, WFM, AVGO, WDC, ADI, EBAY, FOXA, SIAL, BIIB, CHKP, CHTR, CMCSA, CSCO, DISCA, FAST, FB, HSIC, KLAC, KRFT, LBTYA, LVNTA, QCOM, STX, TRIP, VIAB, VRSK, BRCM, CERN, CHRW, COST, FISV, ISRG, MAR, MU, SRCL, ADSK, CTRX, DTV, ESRX, EXPD, PCLN, SBUX, VRTX, MAT

Moving Above 30 DMA = 1

NXPI

Moving Below 30 DMA = 20

ADBE, AKAM, ALTR, CA, CELG, CTSH, CTXS, DISH, EQIX, GOOG, INTC, INTU, LLTC, LMCA, MNST, MYL, SIRI, SYMC, TXN, YHOO

Staying Below 30 DMA

AAPL, ADP, ILMN, LRCX, NVDA, REGN, MSFT, NTAP, PAYX, SNDK, AMGN, VOD, GILD, XLNX, MDLZ, ALXN, ATVI, SBAC, AMZN, GRMN, BIDU, TSLA, VIP, GMCR, WYNN, NFLX

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down

On The Last Trading Day Of The Year...Stock Futures Point To The Green Before The Open...Oil/Crude Continues To Slid...Jobless Claims Rise...

BMO – ES + 3.25…and NQ + 3.75…stock futures point to a HIGHER open in pre-market…

SPY is up .53…

XLF is …

Euro is down 16 pips…

TLT is …up .19…

Follow your rules for entry and exit…and always remember to adjust stops to protect profits also according to your rules...

Quoting Up: DGLY, LC, X, AMBA, DAL, SPLK, IWM, BAC, AAPL, AAL, GILD, VOD, FB

Quoting Down: UNG, GLD, GPRO,

SPY, IWM Pull Back on Lighter Volume...CAR, WFM, AAL Move Higher...FB in Bull Flag...

All nine sectors moved lower on Tuesday…XLF, XLB and XLV were the strongest sectors and XLU was the weakest.

 

Breadth weakened as decliners led advancers 1.43 to 1 on the NYSE and 1.61 to 1 n the NASDAQ.

Tuesday – weakened, decliners led

Monday – weakened, advancers led

Friday – strengthened, advancers led

Thursday – Christmas Holiday

Wednesday – mixed, mixed

SPY down -1.12 at 207.60 on 73.5 million shares

VIX up .86 at 15.92…

TNX down .17 at 21.90…

TLT up .34 at 125.68...

XLF down .03 at 25.01 on 16.4 million shares

AAPL down 1.39 at 112.52 on 29.8 million shares

FB down .80 at 79.22…on 14.3 million shares

Technical Commentary:

DIA -0.36%, SPY -0.54%, IWM -0.59%, QQQ -0.67%,.

The SPY closed lower on a low volume pullback trading 6 million fewer shares than Monday.  The SPX was led to the downside by weakness in SWN, RRC, CMS, XEC, WEC, CNX, NU, EXPE and DUK.

The IWM breakout brings to an end the year long sideways channel.  IWM short-term Chart Target: 124.07; 6-month Chart Target: 136.30

CAR +0.69, +1.03% moved to its 161.8% breakout price target before profit taking took over.  ESRX closed 3 cents above horizontal resistance at 85.72.

EA, EBAY, FB, QCOM, STX, WDC, BX, CIEN, EMC, ETFC, GLW, JNPR, PANW, RAX, SCHW, SOHU, SWKS and V are in bull flag patterns. 

Look for new high horizontal breakout setups and bull flag setups in stocks that are up trending or reversal breakouts from stocks that recently pulled back.

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 = 119.90, 121.88, 124.07…

Support Levels

SPY = 207.33, 204.24...

QQQ = 103.08, 102.40…

IWM = 118.34, 116.15...

The SPY Market Forecast is at 75.

___________________

20 out of 100 NDX stocks closed higher on Tuesday.

Leading NDX 100 stocks included: LMCA, WFM, VIP, YHOO, AAL, CTRX, EBAY, AKAM, NFLX, LVNTA

Lagging NDX stocks included: GMCR, ALXN, GILD, ILMN, TSCO, MNST, CTSH, ADBE, TSLA, STX

Leading stocks > +2% on Tuesday: LC, YELP

Lagging stocks < -2.0% included: XONE, SCTY, SUNE, MBLY, SPLK, UBNT, AMBA, EXPE, JD, CMGE, UNG

Stocks to Watch on Wednesday

Holding Above 30 DMA = 71

ROST, DLTR, ORLY, TSCO, AAL, BBBY, PCAR, SPLS, INTU, EA, AMAT, WFM, AVGO, WDC, ADI, ALTR, EBAY, LLTC, FOXA, SIAL, BIIB, ADBE, CHKP, CHTR, CMCSA, CSCO, DISCA, EQIX, FAST, FB, HSIC, INTC, KLAC, KRFT, LBTYA, LVNTA, MNST, QCOM, STX, TRIP, TXN, VIAB, VRSK, AKAM, BRCM, CA, CERN, CHRW, COST, CTSH, DISH, FISV, ISRG, MAR, MU, MYL, SRCL, SYMC, ADSK, CTRX, DTV, ESRX, EXPD, PCLN, SBUX, CTXS, CELG, GOOG, VRTX, MAT, SIRI

Moving Above 30 DMA = 2

LMCA, YHOO

Moving Below 30 DMA = 7

AAPL, ADP, ILMN, LRCX, NVDA, NXPI, REGN

Staying Below 30 DMA

MSFT, NTAP, PAYX, SNDK, AMGN, VOD, GILD, XLNX, MDLZ, ALXN, ATVI, SBAC, AMZN, GRMN, BIDU, TSLA, VIP, GMCR, WYNN, NFLX

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

Stock Futures Head Lower Before The Bell...Lead By Crude-Oil Futures...Resting At 5 Year Lows...

BMO – ES – 6.50…and NQ – 10.00…stock futures point to a LOWER open in pre-market…

SPY is down .53…

XLF is …

Euro is unchanged…

TLT is …up .41…

Follow your rules for entry and exit…and always remember to adjust stops to protect profits also according to your rules...

Quoting Up: GPRO, MTW, GLD, SPWR, AMBA, X, BBY, SPLK, GILD,

Quoting Down: MBLY, FAS, UNG, FEYE, MS, SCTY, VOD, YHOO

SPX All-time High 53...IWM Makes New High...Biotech Continue to Bounce Back...

Six of nine sectors moved higher and one was unchanged on Monday…XLU, XLY and XLE were the strongest sectors and XLK was the weakest.

 

Breadth weakened as advancers led decliners 1.38 to 1 on the NYSE and 1.08 to 1 n the NASDAQ.

Monday – weakened, advancers led

Friday – strengthened, advancers led

Thursday – Christmas Holiday

Wednesday – mixed, mixed

Tuesday – mixed, advancers led

SPY up .28 at 208.72 on 79.6 million shares

VIX up .56 at 15.06…

TNX down .43 at 22.07…

TLT up .93 at 125.34...

XLF up 9 cents at 25.04 on 17.7 million shares

AAPL down .08 at 113.91 on 27.4 million shares

FB down .76 at 80.02…on 13.9 million shares

Technical Commentary:

IWM +0.42%, SPY +0.13%, QQQ +0.12%, DIA -0.04%.

The SPX closed at a new all-time high for the 53^rd time in 2014 as volume climbed higher.  The SPX was led by gains in GILD, AVP, GAS, WFM, RRC, GM, GCI and CMG.

RUT and IWM moved to new all-time highs.  If this breakout holds it brings to an end the year long sideways channel.  IWM short-term Chart Target: 124.07; 6-month Chart Target: 136.30

CAR gained after last week’s breakout and ESRX is testing its resistance breakout.

Look for new high horizontal breakout setups in stocks that are up trending or reversal breakouts from stocks that recently pulled back.

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 = 119.90, 121.88, 124.07…

Support Levels

SPY = 207.33, 204.24...

QQQ = 103.08, 102.40…

IWM = 118.34, 116.15...

Q3 Earnings Reaction

Positive Reactions – ADBE, CIEN, LULU, AVGO, 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 – COST, AMBA, MFRM, 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 – 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, GOGO, 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 75.

___________________

58 out of 100 NDX stocks closed higher on Monday.

Leading NDX 100 stocks included: GILD, VIP, WFM, MU, AAL, WYNN, DISCA, LMCA, DLTR, CELG

Lagging NDX stocks included: BIDU, AKAM, EA, TRIP, ALTR, NTAP, EQIX, SYMC, TSLA, GMCR

Leading stocks > +2% on Monday: MTW, UNG, CAR

Lagging stocks < -2.0% included: GPRO, XONE, PANW, AMBA, TWTR, LC, SPWR, NTES, SCTY, SPLK

Stocks to Watch on Tuesday

Holding Above 30 DMA = 76

ROST, DLTR, ORLY, TSCO, AAL, BBBY, PCAR, SPLS, INTU, EA, AMAT, WFM, AVGO, WDC, ADI, ALTR, EBAY, LLTC, FOXA, SIAL, BIIB, ADBE, ADP, CHKP, CHTR, CMCSA, CSCO, DISCA, EQIX, FAST, FB, HSIC, INTC, KLAC, KRFT, LBTYA, LVNTA, MNST, NXPI, QCOM, STX, TRIP, TXN, VIAB, VRSK, AKAM, BRCM, CA, CERN, CHRW, COST, CTSH, DISH, FISV, ISRG, LRCX, MAR, MU, MYL, SRCL, SYMC, ADSK, CTRX, NVDA, DTV, ESRX, EXPD, PCLN, SBUX, CTXS, AAPL, CELG, GOOG, ILMN, REGN, VRTX

Moving Above 30 DMA = 2

MAT, SIRI

Moving Below 30 DMA = 5

MSFT, NTAP, PAYX, SNDK, YHOO             

Staying Below 30 DMA

AMGN, VOD, GILD, XLNX, MDLZ, ALXN, ATVI, SBAC, AMZN, LMCA, GRMN, BIDU, TSLA, VIP, GMCR, WYNN, NFLX

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

SPX 52nd 2014 All-time High...RUT, IWM New All-time High...Important Breakout...DJIA New High...Biotech Continues to Rebound..

Six of nine sectors moved higher and two were unchanged on Friday…XLU, XLV and XLY were the strongest sectors and XLE closed 2 cents lower was the weakest.

 

Breadth strengthened as advancers led decliners 2.02 to 1 on the NYSE and 1.90 to 1 on the NASDAQ.

Friday – strengthened, advancers led

Thursday – Christmas Holiday

Wednesday – mixed, mixed

Tuesday – mixed, advancers led

Monday – strengthened, advancers led

SPY up .67 at 208.44 on 57.3 million shares

VIX up .13 at 14.50…

TNX down .14 at 22.50…

TLT up .46 at 124.41...

XLF unchanged at 24.95 on 14.7 million shares

AAPL up 1.98 at 113.99 on 33.7 million shares

FB up .01 at 80.78…on 10.6 million shares

Technical Commentary:

QQQ +0.71%, IWM +0.65%, SPY +0.32%, DIA +0.09%.

The SPX closed at a new all-time high for the 52^nd time in 2014 as volume was still light but higher after the Christmas.  The SPX was led by gains in CELG, REGN, NBR, ALXN, AES, VRTX, GILD, FCX, SRE and NI.

The big news this week is the horizontal breakout of RUT and IWM to new all-time highs.  If this breakout holds it brings to an end the year long sideways channel.  IWM short-term Chart Target: 124.07; 6-month Chart Target: 136.30

Similar to Wednesday gains in biotech/medical stocks CELG, REGN, ALXN, VRTX, GILD, AMGN and ILMN helped lift the QQQ.  The NDX formed a dark cloud cover.

GPRO +2.82, +4.25%, considered by some the Christmas product of 2014 continued to climb on the day after Christmas.  AMBA +3.89, +7.47%, a chip supplier to GPRO soared on Friday.

CAR and ESRX began to bounce after pausing on Wednesday following horizontal breakouts on Tuesday creating potential second chance entry opportunities.

Look for new high horizontal breakout setups in stocks that are up trending or reversal breakouts from stocks that recently pulled back.

AAL, EA and LRCX were added to the NDX on Monday.

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 = 119.90, 121.88, 124.07…

Support Levels

SPY = 207.33, 204.24...

QQQ = 103.08, 102.40…

IWM = 118.34, 116.15...

Q3 Earnings Reaction

Positive Reactions – ADBE, CIEN, LULU, AVGO, 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 – COST, AMBA, MFRM, 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 – 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, GOGO, 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 72.

___________________

58 out of 100 NDX stocks closed higher on Friday.

Leading NDX 100 stocks included: CELG, REGN, ALXN, VRTX, VIP, GILD, TSLA, AMZN, AAPL, AMGN

Lagging NDX stocks included: MNST, CTSH, ADI, NTAP, NFLX, WFM, MSFT, SBAC, CHRW, CHKP

Leading stocks > +2% on Friday: AMBA, GPRO, SFUN, SSYS, YNDX, FEYE, SUNE, SPLK, BBRY

Lagging stocks < -2.0% included: RWLK

Stocks to Watch on Monday

Holding Above 30 DMA = 73

ROST, DLTR, ORLY, TSCO, AAL, BBBY, PCAR, SPLS, INTU, EA, AMAT, WFM, AVGO, WDC, ADI, ALTR, EBAY, LLTC, FOXA, SIAL, BIIB, ADBE, ADP, CHKP, CHTR, CMCSA, CSCO, DISCA, EQIX, FAST, FB, HSIC, INTC, KLAC, KRFT, LBTYA, LVNTA, MNST, NXPI, QCOM, STX, TRIP, TXN, VIAB, VRSK, AKAM, BRCM, CA, CERN, CHRW, COST, CTSH, DISH, FISV, ISRG, LRCX, MAR, MU, MYL, NTAP, SRCL, SYMC, ADSK, CTRX, NVDA, SNDK, DTV, ESRX, EXPD, MSFT, PCLN, SBUX, CTXS

Moving Above 30 DMA = 8

AAPL, CELG, GOOG, ILMN, PAYX, REGN, VRTX, YHOO

Moving Below 30 DMA = 0

                     

Staying Below 30 DMA

AMGN, VOD, GILD, MAT, XLNX, MDLZ, ALXN, ATVI, SBAC, AMZN, LMCA, SIRI, GRMN, BIDU, TSLA, VIP, GMCR, WYNN, NFLX

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up