All nine sectors moved
lower on Monday…XLI, XLB and XLK were the strongest sectors and XLV was the weakest.
Breadth strengthened
as decliners
led advancers…3.15 to 1 on the NYSE
and 2.47 to 1 on the NASDAQ.
Monday – strengthened slightly, decliners led
Friday – weakened,
decliners led
Thursday – strengthened,
advancers led
Wednesday – weakened,
decliners led
Tuesday – strengthened,
advancers led
SPY down 1.38 at 199.51 on 182 million shares
VIX down .66 at 20.42…
TNX up .13 at 21.16…
TLT down .26 at 126.04...
XLF down .22 at 23.92 on 34.4 million shares
AAPL down 1.50 at 108.22 on 66.8 million shares
FB down .84 at 76.99…on 29.2 million shares
Technical Commentary:
SPY -0.69%, DIA
-0.70%, IWM -1.01%, QQQ
-1.03%.
SPY was down -4.65% from
its Dec 5 high at Monday’s low before closing at 199.51. S&P
futures opened higher and closed lower.
The VIX did not confirm the down move in the
SPX on Monday
Semiconductors $SOX -0.84% continued lower with the broad market on Monday
led by weakness in RFMD, SUNE, ASML,
FSL, NXPI, ARMH and XLNX. ADI, ALTR, AMAT, ATML, AVGO, INTC, KLAC,
LLTC, TXN and XLNX continue
to be bull flag setups.
RFMD -.57, -3.68% was lower on an analyst downgrade.
Short-term posture is bearish.
If the broad market finds support and bounces,
look for bull flag setups in stocks that are still in an uptrend.
S&P futures trading
continued to shift on Monday to the March contract ESH5 from the Dec contract ESZ4 which stops trading next Thursday.
Lending Club, LC, +0.28, +1.13% gained on its third day of trading.
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 = 200.06...
QQQ = 102.42, 101.38…
IWM = 114.37, 113.35...
Q3 Earnings Reaction
Positive Reactions – ADBE, CIEN, LULU, 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 – COST, 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 48.
___________________
33 of 100 NDX stocks closed higher on Monday.
Leading NDX 100 stocks included: SPLS, MYL, BRCM, FFIV, EXPD, ROST, PAYX, MAR,
BBBY, CTXS
Lagging NDX stocks included: VIP, ADBE, REGN, ILMN,VRTX, SBUX, AMGN, PCLN,
LMCA, SIRI
Leading stocks > +2% on Monday:
SCSS
Lagging stocks < -2.0% included:
DGLY, KNDI, GPRO, LOCO, CTRP, MTW, BBRY,
JD, JASO, SFUN, SUNE, CSIQ, SSYS, GLD, FAS, SPLK, FEYE, TSL
Stocks to Watch on
Tuesday
Holding Above 30 DMA= 38
ROST, DLTR, ORLY, TSCO, BBBY,
CELG, ESRX, PCAR, SPLS, TXN, CHKP, EXPD, INTU, LBTYA, SBUX, KLAC, AMAT, WFM, AVGO,
FFIV, WDC, DISH, ADI, ALTR, CSCO, EBAY, EXPE, FAST, INTC, LLTC, MXIM, FOXA,
SIAL, CHTR, BIIB, FB, VIAB, ADBE
Moving Above 30 DMA =
2
BRCM, MAR
Moving Below 30 DMA = 11
AMGN, CHRW, CMCSA, EQIX,
GILD, HSIC, KRFT, REGN, VRTX, XLNX, YHOO
Staying Below 30 DMA
ADP, CA, COST, CTRX, DISCA, MAT, MDLZ, MNST, MU, NVDA, NXPI, SNDK, SRCL,
STX, SYMC, VOD, VRSK, AAPL, ADSK, AKAM, ALXN, ATVI, CERN, CTSH, FISV, ISRG,
MYL, NTAP, QCOM, ILMN, CTXS, MSFT, PAYX, SBAC, TRIP, AMZN, 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: Down
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