Stocks End Weaker...Great Setups For Horizontal & Diagonal Breakouts...

Four of nine sectors moved higher on Monday…XLE, XLB and XLU were the strongest sectors while XLE was the weakest sector.  

Breadth weakened as advancers led decliners 1.07 to 1 on the NYSE and decliners led 1.14 to 1 on the NASDAQ.

Monday – weakened, advancers led on NYSE

Friday – weakened slightly, advancers led

Thursday – Thanksgiving Holiday

Wednesday – strengthened, advancers led

Tuesday – strengthened, advancers led

SPY down .87 at 208.69 on 112.5 million shares

VIX up 1.01 at 16.13…

TNX down .07 at 22.18…

TLT up .48 at 121.45…on 5.1 million shares

XLF down .02 at 24.56…on 24.6 million shares

AAPL up .49 at 118.30 on 39.1 million shares

FB down 1.21 at 104.24 on 20.3 million shares

Technical Commentary:

IWM -0.43%, SPY -0.42%, DIA -0.38%, QQQ -0.25%.

Trade with the trend of the chart you are trading and continue to move your profit protection stops.  Continue to follow your rules.

The SPX MFC green line is pointed up at 78  

Short-term Chart Targets:

SPY =...210.12…

QQQ = 115.47…

IWM = 117.36, 118.34…

                   

Support Levels

SPY = 207.41

QQQ = 111.64

IWM = 114.52

__________________

Setups

Horizontal Breakout: SPY, QQQ, AA, AIG, BABA, ETFC, FAS, PANW, QRVO, SCHW, SONC, VRSN, ZION, ADSK, ATVI, AVGO, EBAY, GRMN, INTC, LLTC, LRCX, MSFT, MYL, TSLA,

Diagonal Breakout: BAC, C, CCL, EXPE, PLAY, PYPL, RCL, SUM, TSL, AAPL, GILD, GMCR, ORLY, TXN,

Bull Flag: CRM, GLW, V, YELP, AMZN, GOOGL, ROST, TRIP

At Support: JBLU

Moves

H Breakout: AMBA, SLCA, BIDU (long term),  

D Breakout: MS,

Bull Flag Bounce: KWEB, JD

Bounce: SINA, YHOO

Gap Down: SOHU, UA

Support Break: SFUN, SOHU,

______________________

45 of 100 NDX stocks closed higher on Monday.

53 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 1

YHOO

Moving Below 30 DMA = 11
BIIB, DISH, EXPD, FB, GILD, LMCA, ORLY, REGN, SBUX, TSCO, VIAB

6-month Intermediate Term Market Trend: Neutral

3-day Short Term Market Trend: Neutral

Stocks Ready To Begin Week In The Positive...FIT & MSFT Receive Upgrade...

BMO – ES + 3.50…and NQ + 15.00.…stock futures point to a HIGHER open…

SPY is …up .44…

XLF is …

Euro is down 17 pips…

TLT is …up .05…

Quoting Up: CTRP, FAS, JBLU, AMBA, CCL, PANW, PYPL, SVXY, STX, AMAT, EBAY, MSFT,

Quoting Down: SOHU, UA, SINA, ZION, FISV, MAR, WDC, PCAR, AKAM, WBA,

Follow your rules entry and exit…and always remember to adjust stops to protect profits also according to your rules…

SPY Gains in Light Trading Thanksgiving Week...VIX Drifts Lower...Oil Falls on Friday, Energy Sector Lower...

Six of nine sectors moved higher on Friday…XLP, XLF and XLK were the strongest sectors while XLE was the weakest sector.  Oil fell -1.27/barrel on Friday.

Breadth weakened slightly as advancers led decliners 1.59 to 1 on the NYSE and 1.647 to on the NASDAQ.

Friday – weakened slightly, advancers led

Thursday – Thanksgiving Holiday

Wednesday – strengthened, advancers led

Tuesday – strengthened, advancers led

Monday – weakened, advancers led

SPY up .24 at 209.56 on 37.3 million shares

VIX down .07 at 15.12…

TNX down .07 at 22.25…

TLT down .12 at 120.97…on 2.5 million shares

XLF up .06 at 24.58…on 18.8 million shares

AAPL down .22 at 117.81 on 13.0 million shares

FB up .04 at 105.45 on 5.9 million shares

Technical Commentary:

IWM +0.38%, QQQ +0.14%, SPY +0.11%, DIA -0.02%.

SPY gained 25 cents in the Thanksgiving Holiday week.  SPY volume fell 51% to 237.3 million shares the lightest weekly volume in 2015.

Technical Observations:  Based on this week’s light holiday week price action it appears that the broad markets are pausing before making a move towards a new short-term high.   

Trade with the trend of the chart you are trading and continue to move your profit protection stops.  Continue to follow your rules.

The SPX MFC green line is pointed up at 77. 

Short-term Chart Targets:

SPY =...210.12…

QQQ = 115.47…

IWM = 117.36, 118.34…

                   

Support Levels

SPY = 207.41

QQQ = 111.64

IWM = 114.52

__________________

Setups

Horizontal Breakout: SPY, AMZN, ATVI, EBAY, GRMN, HSIC, LLTC, MSFT, NVDA, XLNX, AA, AIG, AMBA, JUNO, SCHW, SLCA, SPWR, STI,

Diagonal Breakout: AAPL, ADSK, CTXS, CSCO, FB, ORLY, TXN, YHOO, BABA, BAC, C, CCL, CTRP, ETFC, FAS, FSLR, LNKD, MS, PYPL, SONC, SUM, TPX, TSL, W, ZION

Bull Flag: QQQ, BIDU, GOOGL, INTC, INTU, PAYX, SBUX, CRM, GLW, KWEB, NTES, SINA, SOHU, V, VRSN, YELP, YNDX,

Potential Bullish Divergence: DAL

Moves

New Highs: JBL, MNST, CIEN, NKE, PANW

H Breakout: IWM, QRVO

MACD Divergence Bounce: EXPE

Gap Up: GLD

Bear Flag: UA

______________________

67 of 100 NDX stocks closed higher and one was unchanged on Friday.

63 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 3

ADI, CHTR, EXPD

Moving Below 30 DMA = 0

6-month Intermediate Term Market Trend: Neutral

3-day Short Term Market Trend: Up

On Shortened Trading Day...Stock Futures Slightly Higher...Stock Market Will Close Today At 1:00 PM ET...

BMO – ES - .50…and NQ + 9.50.…stock futures point to a HIGHER open…

SPY is …up .13…

XLF is …

Euro is down 43 pips…

TLT is …up .41…

Quoting Up: EBAY, KHC, AMZN, VOD, EA, TSLA, MYL, AMGN, GOOG, HABT, SEDG

Quoting Down: JD, BIDU, BMRN, WYNN, YY

Follow your rules entry and exit…and always remember to adjust stops to protect profits also according to your rules…

Stock Futures Inch Ahead...Jobless Claims Drop 12K To 260K...

BMO – ES + 4.00…and NQ + 12.00…stock futures point to a HIGHER open…

SPY is …down .22…

XLF is …

Euro is down 66 pips…

TLT is …up .44…

Quoting Up: VOD, SWKS, SWYNN, TSLA, AMZN, CELG, GILD, QCOM, DGLY

Quoting Down: ROST, BMRN, AAL, EBAY, SUNE, SCTY

Follow your rules entry and exit…and always remember to adjust stops to protect profits also according to your rules…

Stocks Rally Following Pre-market Pullback as Stocks Form Bull Flag and Breakout Setup Patterns...PANW Gaps...ADSK Higher

Five of nine sectors moved higher on Tuesday…XLE, XLB and XLV were the strongest sectors while XLF was the weakest sector. 

Breadth strengthened as advancers led decliners 1.46 to 1 on the NYSE.

Tuesday – strengthened, advancers led

Monday – weakened, advancers led

Friday – strengthened, advancers led

Thursday – weakened, mixed

Wednesday – strengthened, advancers led

SPY up .28 at 209.35 on 98.8 million shares

VIX up .31 at 15.93…

TNX down .31 at 22.43…

TLT down .01 at 120.81…on 3.3 million shares

XLF down .07 at 24.50…on 29.1 million shares

AAPL up 1.13 at 118.88 on 42.8 million shares

FB down 1.21 at 105.74 on 23.5 million shares

Technical Commentary:

IWM +0.73%, DIA +0.14%, SPY +0.13%, QQQ -0.09%.

Media sources reported this early this morning that Turkey shot down a Russian fighter jet after repeated efforts to get the jet to respond failed.  ES futures were down more than 20 points from their overnight high after the report.

After opening lower the SPY rallied and then sold off to its intraday low at 207.41 just before 11 am ET when buyers made support and drove SPY up more than two dollars.  SPY closed at 209.35.

Q3 GDP was revised upward from 1.5% to 2.1% this morning in line with estimates.

Airline stocks AAL, DAL, LUV, UAL, JBLU and ALK were lower as oil prices moved higher after the downing of the Russian jet occurred in the Middle East.

Technical Observations:  Last week SPY, QQQ and DIA rallied after an eight-day pullback and closed near short-term resistance.  Price action can either pause before or at resistance pull back and then make a run at a new high from a higher low or it can break through resistance then pull back and test the breakout.  Based on Monday and Tuesday’s price action it appears that the broad markets are pausing before making a move towards a new high.  Numerous bull flags and breakout setups are appearing on charts today.  

                  (click image to enlarge) 

Trade with the trend of the chart you are trading and continue to move your profit protection stops.  Continue to follow your rules.

The SPX MFC green line is pointed up at 76. 

Short-term Chart Targets:

SPY =...210.12…

QQQ = 115.47…

IWM = 117.36, 118.34…

                   

Support Levels

SPY = 206.28

QQQ = 111.64

IWM = 114.52

__________________

Setups

Horizontal Breakout: IWM, ADSK, AVGO, GRMN, JD, MNST, MSFT, NVDA, SWKS, TXN, XLNX, AIG, CSIQ, JUNO, NKE, SLCA,

Diagonal Breakout: SPY, AAPL, EBAY, FB, GILD, ORLY, SBUX, TSLA, BABA, FAS, LNKD, SCHW, STI, BAC, C, TPX, ZION,

Bull Flag: QQQ, ADBE, AMZN, ATVI, BIDU, CMCSA, COST, GOOGL, INTC, LLTC, LRCX, MYL, NFLX, TRIP, CRM, CTRP, ETFC, NTES, SINA, SOHU, VRSN, YELP, YNKX

Moves

New Highs: JBL, ROST,

H Breakout: ROST, CIEN, HPQ, KWEB

Bull Flag Bounce: GMCR, ILMN, QRVO,

MACD Divergence Bounce:

Bounce: FSLR, SPWR, TSL,

Gap Up: PANW, AVP, SPN, NBR,

Gap Down: CCL, DAL, RCL

______________________

50 of 100 NDX stocks closed higher and one was unchanged on Tuesday.

60 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 1

CHTR

Moving Below 30 DMA = 3

EA, MAT, SNDK

6-month Intermediate Term Market Trend: Neutral

3-day Short Term Market Trend: Up

Stocks Futures Slip Prior To Opening...GDP Revised For 3Q To 2.1%...

BMO – ES – 15.00…and NQ – 36.50…stock futures point to a LOWER open…

SPY is …down 1.40…

XLF is …down .23…

Euro is up 28 pips…

TLT is …up .49…

Quoting Up: ADI, DLTR, SUNE, CYBR,

Quoting Down: VIP, AAL, SNDK, PCLN, TRIP, ILMN, VOD, NFLX, NVDA, VGO, TSLA, X, YY, SCSS, GME, UAL

Follow your rules entry and exit…and always remember to adjust stops to protect profits also according to your rules…

Stocks End Slightly Lower...Consolidating...Volume Light...

Four sectors moved higher on Monday…XLP, XLE and XLY were the strongest sectors while XLU was the weakest sector.  

SPY down .24 at 209.07 on 64.8 million shares

VIX up .15 at 15.62…

TNX down .12 at 22.50…

TLT up .37 at 120.82…on 5.4 million shares

XLF down .10 at 24.57…on 25.8 million shares

AAPL down 1.55 at 117.75 on 32.4 million shares

FB down .37 at 106.95 on 19.7 million shares

Technical Commentary:

QQQ -0.29%, DIA -0.32%, SPY -0.12%, IWM +0.50%.

Trade with the trend of the chart you are trading and continue to move your profit protection stops.  Continue to follow your rules.

The SPX MFC green line is pointed up at 71. 

Short-term Chart Targets:

SPY =...210.12…

QQQ = 115.47…

IWM = 117.36, 118.34…

                   

Support Levels

SPY = 206.28

QQQ = 111.64

IWM = 114.52

__________________

Setups

Horizontal Breakout: SPY, QQQ, AIG, AMBA, CIEN, FAS, GLW, HPQ, JUNO, NKE, PANW, SCHW, SOHU, TPX, ULTA, AXTA, ESI, ATVI, MNST, MSFT, NFLX (long term), NVDA, ROST, SBUX, TRIP,

Diagonal Breakout: AA, CCL, SLCA, UA, EMC, FL, LOCO, RUN, AVGO, EA, GILD, ORLY,

Bull Flag: CRM, CTRP, QRVO, SINA, UBNT

At Support: LC, GLNG, RPD, TWTR

Moves

New Highs: JBL, AMZN,

H Breakout: KWEB, MFRM,

D Breakout: CSIQ, SONC, SCSS,  

Bull Flag Bounce: ADSK

Bounce: RCL

Support Break: TSL, GME,  

______________________

37 of 100 NDX stocks closed higher and one was unchanged on Monday.

Stock Futures Little Changed Before Open...Saudi's Announce Plans To Stabilize Oil Prices...GME Earnings Disappoint...GME Down 18.49%...

BMO – ES – 2.50…and NQ – 2.00…stock futures point to a LOWER open…

SPY is …up .14…

XLF is …up .03…

Euro is unchanged…

TLT is …down .50…

Quoting Up: SLCA, LC, AMBA, PANW, SINA, BMRN, LVNTA, DLTR, AMZN, DLTR

Quoting Down: KWEB, TSL, CIEN, CSIQ, YELP, LBTYA, MAT, TSCO, TSLA

Follow your rules entry and exit…and always remember to adjust stops to protect profits also according to your rules…

SPY, QQQ, DIA, IWM Finish Higher for the Week, Close Near Resistance...

Six sectors of nine moved higher on Friday…XLY, XLV and XLK were the strongest sectors while XLE was the weakest sector.  After a pullback last week all nine sectors resumed their six week rally and close near resistance once again XLY, XLK, XLI and XLF were the leading sectors for the week while XLE was the weakest.  XLI closed above short-term resistance.

                  (click image to enlarge)

Breadth strengthened as advancers led decliners 1.45 to 1 on the NYSE and 1.71 to on the NASDAQ.

Friday – strengthened, advancers led

Thursday – weakened, mixed

Wednesday – strengthened, advancers led

Tuesday – weakened, decliners led

Monday – strengthened, advancers led

SPY up 0.76 at 208.55 on 83.3 million shares

VIX down 1.52 at 16.99…

TNX up .14 at 22.62…

TLT down .37 at 120.45…on 5.9 million shares

XLF up .04 at 24.67…on 35.8 million shares

AAPL up 0.52 at 119.30 on 34.2 million shares

FB up 1.06 at 107.32 on 22.1 million shares

Technical Commentary:

QQQ +0.68%, IWM +0.65%, DIA +0.55%, SPY +0.36%.

Consumer Discretionary stocks which were crushed last week on negative EPS reactions from M, JWN, JCP and other retail stocks, rallied and XLY was the leading sector for the week.  ROST +10.04% led both the SPX and NDX with a positive EPS reaction on Friday.  Other consumer discretionary leaders on Friday included GPS, NKE, KSS, TJX, LOW, URBN, UA, NFLX, COH, FOSL, DLPHHD, PVH and DG.

                  (click image to enlarge)

SPY, QQQ and DIA finished the week near bull market highs and horizontal resistance.  Trading volume will be light in the Thanksgiving holiday week with markets closed on Thursday and a half day of trading on Friday.  VIX, confirmed the SPX rally, falling on Friday near recent lows.

                  (click image to enlarge)

Trade with the trend of the chart you are trading and continue to move your profit protection stops.  Continue to follow your rules.

The SPX MFC green line is pointed up at 68. 

Short-term Chart Targets:

SPY =...210.12…

QQQ = 115.47…

IWM = 117.36, 118.34…

                   

Support Levels

SPY = 206.28

QQQ = 111.64

IWM = 114.52

__________________

Setups

Horizontal Breakout: SPY, QQQ, AMBA, ADBE, ATVI, CMCSA, EA, INTC, JD, LLTC, LRCX, MSFT, MYL, NVDA, TRIP, TXN, XLNX, CIEN, GLW, KWEB, SINA, SOHU, W

Diagonal Breakout: AMZN, FB, GILD, ORLY, SWKS, TSLA, YHOO, BAC, C, CCL, ETFC, LNKD, PYPL, RCL, SCHW, SLCA, SONC, UA, ZION

Bull Flag: ILMN, CRM, JUNO, QRVO

Bear Flag: AA, EXPE

Moves

New Highs: GOOGL, COST, NFLX, JBL, NTES, QIHU, V, VRSN, YELP, YNDX

H Breakout: GOOGL, BABA, NTES, PANW, YELP

D Breakout: SBUX,

Bull Flag Bounce: FSLR

Bounce: W

Gap Up: ROST, GPS, NKE, UA,

Gap Down: ADSK

______________________

69 of 100 NDX stocks closed higher and one was unchanged on Friday.

62 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 3

ADP, EA, ROST

Moving Below 30 DMA = 0

6-month Intermediate Term Market Trend: Neutral

3-day Short Term Market Trend: Up