Four sectors moved higher on Friday…XLF,
XLK and XLB were the
strongest sectors while XLU was the weakest sector. For the week seven sectors moved higher led
by XLF, XLE and XLK while XLP and XLU finished lower.
(click image to enlarge)
Breadth weakened on the NYSE as decliners led advancers 1.61 to 1 and on the NASDAQ it strengthened as advancers led decliners
1.58 to 1.
Friday – mixed, mixed
Thursday – mixed, decliners led
Wednesday – weakened, decliners led
Tuesday – weakened, advancers led
Monday – strengthened, advancers led
SPY down .11 at 210.04 on 110.4 million shares
VIX down .72 at 14.33…
TNX up .88 at 23.33…
TLT down 1.77 at 119.00…on
10.6 million shares
XLF up .25 at 24.73…on
69.4 million shares
AAPL up .14 at 121.06 on 33
million shares
FB down 1.67 at 107.09 on 35 million
shares
Technical Commentary:
SPY -0.11%, QQQ +0.08%, DIA +0.28%, IWM
+0.71%.
SPY, QQQ and DIA closed higher for the sixth
straight week on Friday. IWM,
which was down last week was up +3.36% the strongest broad market segment.
The broad
market opened lower on Friday following a strong November Jobs Report 271,000
new jobs created and an unemployment rate of 5%. By the close on Friday, IWM, DIA and QQQ
were higher with SPY
near even for the day.
For the
week TSLA +12.29% had earnings on Tuesday, MNST +10.24% earnings
on Thursday and FB +5.46% with earnings after the close on Wednesday. AMZN +5.35%, NFLX +5.24%, GOOGL +3.28% and AAPL +1.74%
also moved higher this week.
(click image to enlarge)
Bull Flags were flying again on Friday including
SPY, QQQ, CAT, CVX…
(click image to enlarge)
AAPL, AAL, GILD, MAT…
(click image to enlarge)
DIA, FB, MMM, MRK, ADP, ALXN, BIIB,
CHKP, DISCA, DISH, FOXA, ORLY, REGN, VIAB, VRTX, XLNX, YHOO, CCL, HPQ, JNPR, LVS,
MPEL, PYPL, SONC and ULTA.
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 Market Forecast is at 95.
Short-term Chart Targets:
SPY =...212.08…
QQQ = 114.11, 118.17…
IWM = 121.23…
Support Levels
SPY = 208.17
QQQ = 113.39
IWM = 115.42
__________________
Setups
Horizontal Breakout: CRM, GME, NKE, RCL, SVXY, SHAK, UAL, YELP,
ZNGA, ADSK (long term), NFLX, NTAP, TXN, WYNN,
Diagonal Breakout: BBY, JBLU,
UA, YY,
Bull Flag: SPY, QQQ, BABA, BX, HPQ, JUNO, MPEL, PYPL,
SFUN, ULTA, ANGI, JASO, VJET, AAPL, CMCSA, ROST
At Support: VSLR
Moves
New Highs: CTRP, VRSN,
AMZN,
H Breakout: MS, PLAY,
SCHW, SUM, GOGO, SPLK, SPWR, GRMN, MNST, SWKS,
D Breakout: FSLR, AVGO, BRCM,
Bull Flag Bounce: CCL,
FIT, JNPR, LC, NCLH, W, BBRY, MTW, SLCA, XONE, COST, JD, YHOO,
MACD Divergence Bounce:
WFM,
Bounce: DAL, X, CAR, FEYE, FOGO, QCOM,
Gap Up: BAC, C, ETFC,
MS, SCHW, STI, UBNT, ZION, YOKU, MNST, SWKS, QRVO, NVDA
Gap Down: CREE, ETSY, GLUU, TRIP
______________________
57 of 100
NDX stocks closed higher on Friday.
80
NDX stocks are above their 30 DMA.
NDX Stocks to Watch on
Monday:
Moving Above 30 DMA = 3
AVGO, MNST, VIAB
Moving Below 30 DMA = 3
CELG, KHC, MDLZ
6-month Intermediate
Term Market Trend: Neutral
3-day Short Term Market Trend: Up
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