Eight of nine sectors
moved higher on Thursday…XLU, XLP and XLI were the strongest sectors and XLE was the weakest.
Breadth strengthened as advancers led decliners…1.32 to 1 on the NYSE
and 1.52 to 1 on the NASDAQ.
Thursday – strengthened, advancers led
Wednesday – weakened,
decliners led
Tuesday – strengthened,
advancers led
Monday – weakened,
decliners led
Friday – strengthened,
advancers led
SPY up 1.03 at 204.19 on 150.3million shares
VIX up 1.55 at 20.08…
TNX up .09 at 21.78…
TLT up .51 at 124.61...
XLF up .06 at 24.62 on 32.1 million shares
AAPL down .33at 111.62 on 43.8 million shares
FB up 1.55 at 77.73…on 33 million shares
Technical Commentary:
SPY +0.51%,
QQQ +0.47%, DIA +0.42%, IWM +0.40%.
Better than expected
weekly jobless claims and retail sales numbers provided a backdrop for a market
rallied on Thursday. The SPY, QQQ, DIA and IWM each formed
inverted hammer/bullish harami candle pattern which indicates a pending
potential short-term bounce. The VIX
closed at its highest level since Oct 17 and rose in unusual unison with the SPY.
Semiconductors $SOX +0.47% rebounded on Thursday led by strength in ATML, RFMD, SWKS, ALTR and AVGO. ADI,
ALTR, AMAT, ATML, AVGO, BRCM, INTC, KLAC, LLTC, MU, SNDK, TXN and XLNX continue to be bull flag setups.
S&P futures trading
began to shift today to the March contract ESH5
from the Dec contract ESZ4 which stops trading next Thursday.
The Market Forecast
green line closed below confirming the
shift defensively three days ago. Be
mindful of the potential for a break of short-term support below Wednesday’s
low.
Lending Club, LC, went public today at 15, opened at 24.75 and closed at 23.43.
LULU +4.25, +9.11% and CIEN +1.18, +6.96% gained on
positive earnings reaction before the open.
ADBE +5.26, +7.54% rose in after-hours on a positive earning reaction.
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 = 203.13, 201.90...
QQQ = 103.04, 102.42, 101.38…
IWM = 115.04, 114.37,
113.35...
Earnings this week: COST, ADBE,
CIEN, LULU
Q3 Earnings Reaction
Positive Reactions – 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 77.
___________________
78 of 100 NDX stocks closed higher on Thursday.
Leading NDX 100 stocks included: SPLS, ADBE, VRTX, CTSH, MAT, EBAY, LMCK, FB,
MNST, ROST
Lagging NDX stocks included: VIP, GRMN, TSLA, XLNX, ATVI, SBAC, GILD, SNDK,
CTXS, EXPE
Leading stocks > +2% on Thursday:
CIEN, DAL, NTES, AAL, UAL, HPQ, UBNT, Z, CSIQ, LVS, SOHU
Lagging stocks < -2.0% included:
DGLY, AMBA, GPRO, CREE, SPLK, ATI, LOCO,
AA, UNG
Stocks to Watch on Friday
Holding Above 30 DMA= 60
ROST, SRCL, DLTR, ISRG,
PAYX, REGN, ADP, COST, ORLY, TSCO, VRTX, XLNX, AMGN, BBBY, CELG, ESRX, FISV,
HSIC, KRFT, MAR, PCAR, SPLS, SYMC, TXN, BRCM, CA, CHKP, EXPD, INTU, LBTYA,
NVDA, SBAC, SBUX, STX, KLAC, MDLZ, MSFT, AMAT, MU, WFM, AVGO, FFIV, NXPI, VOD,
WDC, CTRX, DISH, EQIX, ADI, ALTR, CSCO, EBAY, EXPE, FAST, INTC, LLTC, MXIM,
SNDK, FOXA, SIAL, CMCSA, CHTR, CTXS, BIIB, TRIP, FB, VRSK
Moving Above 30 DMA =
6
CHRW, DISCA, MAT, MNST, VIAB, YHOO
Moving Below 30 DMA = 1
GILD,
Staying Below 30 DMA
AAPL, ADBE, 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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