Eight of nine sectors
moved higher on Thursday…XLF, XLY and XLU were the strongest sectors and
XLE was the weakest.
Breadth strengthened as advancers
led decliners 2.76 to 1 on the NYSE and
2.59 to 1 on
the NASDAQ.
Thursday – strengthened, advancers led
Wednesday – strengthened,
advancers led
Tuesday – weakened,
decliners led
Monday – strengthened,
advancers led
SPY up 2.60 at 207.10 on 93.9 million shares
VIX down 1.45 at 15.42…
TNX down .13 at 20.96…
TLT down .09 at 127.11...
XLF up .52 at 24.49 on 40.9 million shares, above average volume
AAPL up 2.21 at 124.45 on 48.3 million shares
FB up .1.36 at 78.93…on 16 million shares, below average volume
Technical Commentary:
QQQ +
0.66%, SPY + 1.27%, DIA + 1.49%, IWM + 1.66%.
Major Bull Flag bounce in the SPY,
DIA, QQQ, DIS, HD and many
other stocks on Thursday. A great
day to be long and many entry signals.
Strong moves in financials including
MS, GS, WFC, C, JPM, STI and ZION.
There are
still many bull flag setups like QQQ, ADI, ALTR, AMAT, ARMH, ATML,
AVGO, CAVM, MXIM, ONNN, TXN, A, ADSK and CRM. Stocks that had bull flag entries on
Wednesday and Thursday likely will lead to breakout setups.
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 = 206.26, 208.97...
QQQ = 107.57, 108.94…
IWM = 121.41, 122.92…
Support Levels
SPY = 205.05, 204.13,
203.35, 200.94...
QQQ = 105.73, 104.59,
103.44…
IWM = 120.19, 119.08,
117.97...
Q4 Earnings Reaction
Positive Reactions – AVGO, CRM, MNST, ROST, ADSK, GOGO, SPWR,
ESRX, CMCSA, ANGI, CAR, INTU, JWN, RAX, MAR, NEM, PCLN, Z, TRIP, FEYE,
CSCO, NVDA, AKAM, WFM, Z, EEFT, TMH, CTLT, SKX, NTES, WCG, ADP, ATVI,
CTSH, FISV, ONNN, ORLY, SIRI, UA, VRSN, AMZN, AAPL, ALXN, BRCM, BX,
CAVM, CELG, EA, FB, FSL, GLW, HOG, JNPR, TSCO, TSS, TUP, VIAB, WDC, X, NFLX,
ALK, BHI, CREE, DAL, EBAY, ETFC, GE, HON, KMB, LUV, MXIM, SBUX, SWKS, TRV, UAL,
UNH, UNP, SNX, LLTC, TSM
More than 10% - AVGO, MNST, CRM, SPWR, ANGI, UPL,
TRIP, FEYE, EEFT, TMH, MLM, SEE, LNKD, TWTR, UBNT, ONNN, AMZN,
BIIB, NFLX, FSL, EA, TUP, X
Negative Reactions – JCP, SPLK, LL, LC, HPQ, SCTY, ZU, ZNGA,
NTAP, BIDU, TSLA, HSIC, KRFT, SFUN, SOHU, ATML, CHRW, FOXA, GILD, GMCR,
SRCL, SYMC, WYNN, QCOM, JDSU, RCL, BABA, PCAR, YHOO, MSFT, STX, VRTX,
AAL, ZION, AXP, ALTR, FFIV, IBM, ISRG, JNJ, KLAC, KSU, MCD, STT, XLNX, AA,
BAC, C, JPM, KBH, WFC,
More than -10% - LL, LC, TPX, ZU, ZNGA, EXPE,
GPRO, YELP, P, TPX, QCOM, FFIV, KBH,
Reversal in progress – ZNGA, AAL, AXP, BAC, BIDU, CHRW, FFIV,
GILD, ISRG, JNJ, KBH, KLAC, MSFT, NTAP, SOHU, STX
Reversal of Initial Reaction – AA, ALTR, ATML, C, BAC, IBM, KBH,
KSU, MCD, FOXA, GMCR, HSIC, JDSU, JPM, KSU, PCAR, QCOM, SFUN, SRCL, SYMC, WYNN,
XLNX, STT, TPX, TSLA,WDC, VRTX, WFC, ZION
The SPX Market Forecast is at 57.
___________________
Setups
Horizontal Breakout: AMBA,
BX, CMGE, RAX, HD
Diagonal Breakout: CAR,
ESI, X,
Bull Flag: CREE, JUNO, TSL, QQQ, ADI, ALTR, AMAT, ARMH, ATML, AVGO, CAVM, MXIM, ONNN, TXN, A, ADSK, CRM
At Support: HOG
Moves
New Highs: BBY, SCSS,
STI, SWKS,
H Breakout: DIS
Bull Flag Bounce: DIS, HD, FEYE,
FSLR, GOGO, JD, JDSU, UA, ZION, MFRM, NCLH, TAN, TPX,
Bounce: SPY, AIG, CRM,
DAL, DDD, EMC, EXPE, GLW, IBM, JCP, LVS, MTW, NKE, RCL, SPLK, TWTR, UAL, V,
VJET, XONE, AA, CCL, DAVE, VRSN,
MACD Divergence Bounce:
GPRO, LOCO, P, ZU,
Gap Up: IWM, C, FAS, MS,
Gap Down: KKD
Support Break: SOHU, YOKU,
______________________
78 out of 100 NDX stocks
closed higher on Thursday.
Leading NDX 100 stocks included: CHTR, MYL, MAT, TSCO, AAL, DLTR, PAYX, ORLY,
PCAR, CMCSA, AMZN, SBUX
Lagging NDX stocks included: INTC, MSFT, GRMN, TSLA, QCOM, ILMN
Leading stocks > +2% on Thursday:
VJET, MS, FAS, MTW, GPRO, GOGO, ZION, C, SPLK, CMGE,STI, DAL, RCL, UA, EXPE,
UAL, JD
Lagging stocks < -2.0% included:
SOHU, KKD, VXX, YOKU, UNG, SSYS, NTES,
UPL, HOG
Stocks to Watch on Friday
Holding Above 30 DMA = 44
SIAL,
MNST, CTSH, NXPI, SIRI, ATVI, BIIB, DLTR, VRSK, COST, GOOG, EXPD, VIP, LBTYA,
LMCA, NVDA, ROST, TXN, ADBE, CHTR, CMCSA, PAYX, ADI, AKAM, ADSK, AVGO, INTU,
MAR, PCLN, LVNTA, TRIP, CHKP, DISCA, EBAY, SRCL, VIAB, VRTX, CHRW, GMCR, SNDK,
EQIX, REGN, MYL, ORLY
Moving Above 30 DMA = 9
AMZN, BRCM, CERN, FB, FISV, FOXA, SBAC, SBUX,
TSCO
Moving Below 30 DMA = 1
QCOM
Staying Below 30 DMA
AAPL, ALXN, CSCO, ALTR, CA, DISH, DTV, EA, LLTC, LRCX, NTAP, WFM,
XLNX,AMAT, AMGN, BIDU, CELG, ESRX, GILD, ILMN, MDLZ, NFLX, WDC, ADP, CTXS,
PCAR, HSIC, KLAC, MSFT, MU, SPLS, STX, TSLA, CTRX, SYMC, AAL, BBBY, ISRG, VOD,
WYNN, GRMN, KRFT, YHOO, FAST, INTC, MAT
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market Trend: Neutral
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