All nine sectors moved
higher on Tuesday…XLE, XLV and XLF were the strongest sectors and XLK was the weakest.
Breadth strengthened as advancers led
decliners…1.96 to 1 on the NYSE and 2.08 o 1 on the NASDAQ.
Tuesday – strengthened, advancers led
Monday – weakened,
decliners led
Friday – weakened,
decliners led
Thursday – Thanksgiving
Holiday
Wednesday –
strengthened, advancers led
SPY up 1.32 at 207.08 on 74.5
million shares
VIX down -1.44 at 12.85…
TNX up .67 at 22.85…
TLT down 1.18 at 120.32...
XLF up .23 at 24.46 on 21.7 million shares
AAPL down .44 at 114.63 on 59.3 million shares, above average volume
FB up .36 at 75.46…on 16.8 million shares
Technical Commentary:
IWM +1.20%,
SPY +0.64%, DIA +0.54%, QQQ +0.40%.
Small cap stocks led a
rally on Tuesday following Monday’s selloff that left indexes at a higher low
close in a bull flag type pull back. SPY formed a bullish engulfing pattern,
while DIA gapped past its doji. QQQ
and IWM formed bullish harami
patterns.
DIA made another new
all-time closing high. DIA and SPY bounced in a bull flag
pattern while QQQ and IWM are in
bull flag setup with a potential entry bounce on Wednesday.
Sectors
XLB, XLI, XLK and XLY are in a bull flag pattern.
XLP is in a pennant
pattern.
XLU is a horizontal
resistance breakout setup.
XLF bounced in a bull flag
pattern and is also a horizontal resistance breakout setup.
XLV made an all-time
closing high.
XLE is a bounce off a
horizontal support low.
TRIP +5.63, +7.92% broke out of an inverse head and shoulders
reversal pattern following news of a regulatory filing indicating that CEO
Stephen Kaufer purchased 13,785 shares at $72.55, totaling just over a million
dollars. Reversal pattern Chart target: 81.84.
MFRM -5.50, -7.90% dropped on a negative
earnings reaction from earnings after the close 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 = 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: AMBA, AVGO, MFRM
Q3 Earnings Reaction
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 – 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 96.
___________________
Setups
Horizontal Breakout: XLF,
XLU, EBAY, GILD, MSFT, AIG, BBRY, C, CRM, HPQ, P,
Diagonal Breakout:
EXPE, ILMN, NTAP, AAL, BABA, CREE, ETFC, FEYE, GOGO, GPRO, MS, SCHW, SPLK, XONE,
YELP, Z
Bull Flag: QQQ, IWM, XLB, XLI, XLK, XLY, AAPL, ADSK, AKAM, AMZN,
BRCM, FB, FFIV, GRMN, MAR, MNST, MU, MYL, ROST, SBUX, SNDK, WDC, WFM, YHOO, DAL,
UAL, LUV, AA, ATI, BBY, BX, CAR, CIEN, EMC, JASO, JCP, JNPR, NKE, NTES, PANW,
QIHU, RAX, SUNE, SWKS, UA,
Potential Bullish
Divergence: GOOGL, KNDI, SOHU, SPWR,
SSYS, UBNT,
At Support: GMCR, WYNN, GME, SCTY, TSL, TWTR, X, YY,
Moves
New Highs: CELG, COST,
ESRX, INTC, STX, TXN, XLNX, KKD, RCL, SWI, V,
H Breakout: TRIP,
QCOM, TRIP,
D Breakout: GILD,
Breakout Test: GLD,
Bull Flag Bounce:
SPY, DIA, XLF, CMCSA, AIG, FAS,
Bounce: BBRY, C, STI,
MACD Divergence Bounce:
NFLX, BAC,
Gap Up: DGLY, RCL,
______________________
65 of 100 NDX stocks closed higher and two were unchanged on Tuesday.
Leading NDX 100 stocks included: TRIP, BIIB, ALXN, NFLX, VRTX, REGN, STX, MXIM,
QCOM, CELG
Lagging NDX stocks included: SBAC, DISH, VIP, MNST, SNDK, PCLN, WFM, DTV,
GMCR, INTU
Leading stocks > +2% on
Tuesday: DGLY, JD, SFUN, RCL, FEYE, CSIQ, BABA, AMBA, BBRY, SUNE, JASO, ETFC,
TSL, FAS, SCHW, P, BAC, XONE
Lagging stocks < -2.0% included:
WLT, MFRM, MBLY, UNG, TPX, CTRP, CMGE,
QIHU
Stocks to Watch on
Wednesday
Holding Above 30 DMA= 85
ROST, CHRW, GRMN, 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, 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, MXIM, SNDK, FOXA, SIAL, AMZN, CMCSA, CHTR, VIAB, ATVI, CTXS, DISCA,
VRSK
Moving Above 30 DMA =
2
BIIB, QCOM
Moving Below 30 DMA = 2
ILMN, PCLN
Staying Below 30 DMA
BIDU, FB, GOOG, MAT, TSLA, VIP, GMCR, WYNN, GILD, TRIP, NFLX
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market
Trend: Neutral
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