Monday, December 8, 2014

DJIA Misses Chance To Break 18K...Closes Down Triple Digits...S&P 500 Has Largest Drop In 7 Weeks...XLE Breaks Support...XLF Continues To Rise...REGN Gains 6.33%...

Three of nine sectors moved higher on Monday…XLU, XLF and XLV were the strongest sectors and XLE was the weakest.
 
Breadth weakened as decliners led advancers 2.38 to 1 on the NYSE and 2.91 to 1 on the NASDAQ.

Monday – weakened, decliners led
Friday – strengthened, advancers led
Thursday – weakened, decliners led
Wednesday – weakened slightly, advancers led
Tuesday – strengthened, advancers led


SPY down 1.34 at 206.66 on 108.5 million shares
VIX up 1.39 at 14.21…
TNX down .50 at 22.57…
TLT up 1.47 at 122.56...
XLF up .11 at 24.93 on 42.9 million shares

AAPL down 2.45 at 112.55 on 57.57 million shares
FB up .17 at 76.53…on 25.7 million shares


Technical Commentary:

IWM – 1.23%, QQQ – 0.65%, SPY – 0.64%, DIA – 0.56%.



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 = 104.42, 102.42, 101.38
IWM = 115.04, 114.37, 113.35...

Earnings this week: COST, ADBE,

Q3 Earnings Reaction
Positive Reactions – 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 – 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 – 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 95.

___________________

Setups
Horizontal Breakout: AIG, CSIQ, TLT, EBAY,  
Diagonal Breakout: MBLY, FB,  
Bull Flag: AMBA, GLW, KKD, ADBE, CMCSA, STX,  
Potential Bullish Divergence:   
Gap Up:  
Gap Down:  
Bear Flag:  
At Support: BABA, P, XONE, ANR,  
C- Pattern:

Moves
New Highs: ESRX,  
H Breakout: CIEN,  
D Breakout:   
Breakout Test:   
Bull Flag Bounce:  
Bounce: BBY,  
MACD Divergence Bounce:
Gap Up: CELG,  
Gap Down:
C- Pattern:
Bear Flag:  
Support Break: CMGE, CRM, FSLR, GOGO, GPRO, LNKD, LVS, QIHU, SPWR, SSYS, SUNE, TWTR, VRSN, X, DDD, ADSK, TSLA,

______________________


21 of 100 NDX stocks closed higher and one was unchanged on Monday.


Leading NDX 100 stocks included: REGN, CELG, AMGN, ISRG, SNDK, VRTX

Lagging NDX stocks included: VIP, TSLA, TRIP, WYNN, ATVI, NFLX, CTXS, MYL, AVGO, LMCA, AMAT, LMCK

Leading stocks > +2% on Monday: BBY, FEYE, MS, CIEN

Lagging stocks < -2.0% included: DGLY, CMGE, CREE, QIHU, SPWR, GPRO, X, AMBA, SUNE, JCP, GME, GOGO


Stocks to Watch on Tuesday
Holding Above 30 DMA= 85
ROST, CHRW, MYL, SRCL, DLTR, ISRG, MNST, PAYX, REGN, ADP, ALXN,  COST, ORLY, TSCO, VRTX, XLNX, AAPL, AMGN, BBBY, CELG, ESRX, FISV, HSIC, KRFT, MAR, PCAR, SPLS, SYMC, TXN, BRCM, YHOO, CA, CERN, CHKP, CTSH, EXPD, INTU, LBTYA, NVDA, SBAC, SBUX, STX, ADBE, ADSK,  KLAC, MDLZ, MSFT, AMAT, MU, WFM, AVGO, FFIV, NTAP, NXPI, VOD, WDC, AKAM, CTRX, DISH, EQIX, ADI, ALTR, CSCO, EBAY, EXPE, FAST, INTC, LLTC, MXIM, SNDK, FOXA, SIAL, CMCSA, CHTR, VIAB, ATVI, CTXS, DISCA, BIIB, QCOM, ILMN, TRIP, FB, MAT, VRSK

Moving Above 30 DMA = 1
GILD                                                                  

Moving Below 30 DMA = 6
CTXS, MSFT, PAYX, QCOM, SBAC, TRIP                             
                                                                                       
Staying Below 30 DMA
AMZN, DISCA, LMCA, LMCK, SIRI, GRMN, DTV, PCLN, BIDU, GOOG, TSLA, VIP, GMCR, WYNN, NFLX

6-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Neutral



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