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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