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All nine sectors moved higher on Friday…XLE, XLK and XLF were the strongest sectors while XLI was the weakest sector. Oil rose $2.17 to close at 32.25.
All nine sectors moved higher on Friday…XLE, XLK and XLF were the strongest sectors while XLI was the weakest sector. Oil rose $2.17 to close at 32.25.
Breadth strengthened
as advancers led decliners 8.35 to 1 on the NYSE and as 4.41 to 1 on
the NASDAQ.
Friday
– strengthened, advancers led
Thursday- strengthened, advancers led
Wednesday – mixed, decliners led
Tuesday –
strengthened, decliners led
Monday – MLK, Jr. Holiday
SPY up
1.04 at 190.52 on 168.3 million shares, 8% above average volume
VIX down 4.35
at 22.34…
TNX up .29 at 20.48…
TLT down .48 at 125.34…on
10.1 million shares, 10% above average volume
XLF up .38 at 21.28…on
48.2 million shares, 15% below average volume
AAPL up 5.12 at 101.42 on 65.8 million shares, 27% above average volume
FB up 3.78 at 97.94 on 30.4
million shares, 13% above average volume
Technical Commentary:
QQQ +2.90%, IWM +2.45%, SPY
+2.05%, DIA +1.38%.
Talk
is cheap. Actions speak louder than
words. A chart shows us what the
institutions are doing.
(click image to
enlarge)
The
weekly candle shows that institutional buying was strong enough to create a long-tail
hammer bullish reversal pattern on the weekly chart. A falling VIX confirms the SPY bullish
pattern. Over the past two years, prior market rallies were also led by a bullish weekly candle pattern.
Earnings
continue on Monday January 25 with MCD.
Earnings this week:
Monday:
MCD, HAL, KMB,
Tuesday:
DD, JNJ, MMM, PG, AAPL, CA,
Wednesday: BA, BIIB, LRCX,
CTXS, EBAY, FB, PYPL, QCOM, SNDK, TSCO, TXN, UTX, VRTX
Thursday: CAT, CELG, CHKP, CVX,
V, AMGN, AMZN, EA, KLAC, MSFT, SWKS, WDC
Friday: AAL, PCAR, STX
YTD:
SPX Leaders: SWN, M, SE, EQT, COG, TWX, FLIR, HAS, RRC, SNI
(65)
SPX Losers: FCX, ESV,
BWA, AA, MRO, APC, CF, OI, WDC, VRTX
NDX Leaders: VIAB, DISCK, ISRG, KHC, XLNX, EA, CTSH, ROST,
DLTR, FISV (10)
NDX Losers: INCY, WDC, VRTX,
STX, MU, LBTYA, ADSK, BMRN, NTAP, NCLH
DJI Leaders: WMT, VZ, MCD
DJI Losers: AXP, DD,
CSCO, BA, JPM, INTC, GS, IBM, CAT, UTX
Remember: “It’s
a market of stocks, not just a stock market.”
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 18.
__________________
Setups
Horizontal Breakout: M, HAS, SNI, VIAB, CPB, XLNX, EA, CTSH,
AA, AIG, CAH, CRM, CRUS, CSIQ, DAL, EAT, FINL, NKE, PLAY, QRVO, SEDG, SLCA,
SOHU, SONC, TBT, TPX, TSL, W, WUBA, YELP, AVGO, BIDU, CMCSA, EBAY, MNST,
Diagonal Breakout: DLTR,
DPS, KMB, SINA
Bull Flag: FLIR, WEC, TLT, VXX
Moves
New Highs: O, BXLT,
H Breakout: RRC, O,
STZ, SPWR, SVXY,
D Breakout: DRI, FSLR, SONC,
Bull Flag Bounce: TWX, EA
Bounce: ROST,
Gap Up: SPY, QQQ, SE,
YNDX, COST
______________________
96 of 100
NDX stocks closed higher and three were
unchanged on Friday.
13
NDX stock is above its 30 DMA.
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 9
CTSH, DISCA, EA, ENDP, FISV, MYL,
PCAR, QCOM, ROST
Moving Below 30 DMA = 1
LLTC
6-month Intermediate
Term Market Trend: Neutral
3-day Short Term Market
Trend: Up
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