Friday, December 5, 2014

SOX Highest Close Since May 2001 Leads as DJIA and SPX Make All-time Closing High...

Five of nine sectors moved higher on Friday…XLF, XLV and XLI were the strongest sectors and XLE was the weakest.
 
Breadth strengthened as advancers led decliners 1.10 to 1 on the NYSE and 1.94 to 1 on the NASDAQ.

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


SPY up .34 at 208.00 on 91.1 million shares
VIX down .56 at 11.82…
TNX up .50 at 23.07…
TLT down .71 at 121.09...
XLF up .22 at 24.82 on 30.2 million shares

AAPL down .49 at 115.00 on 38.3 million shares
FB up 1.12 at 76.36…on 12.3 million shares


Technical Commentary:

IWM +0.75%, DIA +0.38%, SPY +0.16%, QQQ +0.01%.

DIA and SPY hit new record closing highs on Friday.  IWM which led the market and QQQ closed higher but still below 2014 highs.  All this on a better than expected Jobs Report of 321,000 new jobs and a 5.8% unemployment rate for November.

SOX +1.00% outperformed the broad market and the tech sector make a new bull market closing high and its highest close since May 2001 was led by FSL, ONN, ARMH, AMAT, ASML, SNDK, NXPI, ADI, LLTC, MU and ALTR.

AMBA -0.94, -1.69% which makes semiconductor solutions HD video capture and is a major supplier to GPRO beat on both revenues and EPS.  AMBA had gained 58% since the market low on Oct. 15.  One analyst maintained a Buy rating and raised their price target from 62 to 64 while a second analyst downgraded AMBA from buy to Neutral.

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: CIEN, CRM, IWM, JASO, JNPR, NKE, MAR, MSFT, NTAP, SNDK,
Diagonal Breakout: ATI, BABA, GLW, GPRO, SFUN, VRSN, Z, ZION, ADSK, BIDU, GRMN, PCLN, YHOO,
Bull Flag: AA, AMBA, BBY, NTES, PANW, SUNE, UA, AAPL, ADBE, CELG, CMCSA, MNST, MYL, QCOM, STX,
Potential Bullish Divergence: KNDI, LNKD, UBNT,   
Bear Flag: CSIQ, FSLR, MBLY, YOKU,
At Support: CMGE, FEYE, GME, GOGO, JCP, LVS, P, QIHU, SOHU, TWTR, YELP,

Moves
New Highs: AAL, BAC, C, FAS, HOG, HPQ, MS, RAX, RCL, SWI, SWKS, UAL, V, AVGO, BRCM, ESRX, EXPE, FFIV, INTC, MU, SBUX, WDC, XLNX,
H Breakout: BAC, CAR, DAL, SCHW, GILD,
Breakout Test: DGLY,  
Bull Flag Bounce: FB,
Bounce: JDSU, SPLK, UNG, ZION,
MACD Divergence Bounce:
Gap Up: ETFC, FAS, STI

______________________


66 of 100 NDX stocks closed higher on Friday.


Leading NDX 100 stocks included: VIAB, SBUX, GILD, AMAT, EXPE, VOD, SNDK, AMGN, FB, NXPI

Lagging NDX stocks included: SIRI, GOOG, VIP, LMCA, TSLA, AMZN, DISCA, WFM, DLTR, LBTYA

Leading stocks > +2% on Friday: RWLK, CSIQ, JASO, MBLY, TSL, ETFC, SCHW, STI, CAR, Z, CIEN, SPLK, ZION, AAL, BAC, FAS, YOKU, JDSU, SCTY, UAL, BBRY

Lagging stocks < -2.0% included: CTRP, JD, YELP


Stocks to Watch on Monday
Holding Above 30 DMA= 82
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

Moving Above 30 DMA = 3
FB, MAT, VRSK                                            

Moving Below 30 DMA = 4
AMZN, LMCA, LMCK, SIRI
                                                                                       
Staying Below 30 DMA
GRMN, DTV, PCLN, BIDU, GOOG, TSLA, VIP, GMCR, WYNN, GILD, NFLX

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

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