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
1 comment:
Thanks for a great year, Dave!!!
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