All nine sectors moved lower on Monday, the first trading day of 2016…XLE, XLU and XLP were the strongest sectors while
XLF was the weakest sector.
Breadth weakened as decliners led advancers 2.16 to 1 on
the NYSE and 3.25 to 1 on the NASDAQ.
Monday – weakened, decliners led
Friday – New Year Holiday
Thursday- weakened, decliners led
Wednesday – weakened, decliners led
Tuesday –
strengthened, advancers led
SPY down 2.85 at 201.02 on 222.3 million shares, 96% above average volume
VIX up 2.49
at 20.70…
TNX down .24 at 22.45…
TLT up .87 at 121.45…on
10.5 million shares, 41% above average volume
XLF down .46 at 23.37…on
75.8 million shares, 87% above average volume
AAPL up .09 at 105.35 on 67.6 million shares, 70% above average volume
FB down 2.44 at 102.22 on 37.9
million shares, 89% above average volume
Technical Commentary:
SPY -1.40%, DIA -1.55%, QQQ
–2.11%, IWM -2.32%.
Asian
and European markets closed lower on Monday following
weak manufacturing data in China. US
futures traded lower overnight in sympathy and stocks gapped down on Monday’s
open.
Many
charts formed MACD bullish divergence on similar or lower price lows and many
also formed a bullish hammer on the daily chart. Solar
stocks SUNE, SCTY, SPWR, FSLR and TERP finished higher on Monday. Others
including SEDG, JASO, JKS, TSL, CSIQ and RUN are in bull flag patterns.
Oil fell
19 cents to
close at 36.88
after trading higher Monday morning.
SPX Leaders: CHK, CNX, SWN, BXLT
SPX Losers: CMG, FOSL,
AMZN, YHOO
NDX Leaders: DLTR, SWKS, MU, ROST
NDX Losers: JD, TSLA,
AMZN, YHOO
DJI Leaders: WMT, AAPL, CAT, XOM
DJI Losers: DD, JPM, BA,
AXP
If
you did not see Thursday’s post with the NDX/QQQ distribution of 2015 one year
returns for the 100 stocks on Dec 31 here it is for your review. 60 stocks with positive returns, 38 stocks with negative returns
and two stocks trading less than one year.
Up > 20% = NFLX, AMZN,
CTRP, ATVI, NVDA, INCY, GOOGL,
SBUX, EA, EXPE, TMUS, ULTA, AVGO, JD, MNST, FB, REGN, ORLY, ADBE, FISV, NCLH,
MDLZ, VRSK (23)
Up 10% to 19.99% =
LVNTA, MSFT, MXIM, CTXS, EBAY, SIRI, HSIC, BMRN, PAYX, TRIP, ROST, CTSH, COST,
PCLN, WBA, LMCA, NXPI (17)
Up 0% to 9.99% = CHTR, DLTR, XLNX, TSCO, TSLA, GILD, CELG, SWKS, VRTX, INTU,
ILMN, CHKP, ISRG, ESRX, ALXN, TXN, AMGN, ADP, ADSK, LRCX (20)
Down -0.01% to -9.99% =
BIIB, SRCL, CERN, LLTC, CA, VOD, SBAC, INTC, AAPL, MYL, CMCSA, CSCO, KLAC, ADI (14)
Down
> -10% =
MU, WDC, VIAB,
STX, BBBY, NTAP, YHOO, WFM, QCOM,
PCAR, FOXA, AMAT, DISCA, SNDK, DISH, AAL, SYMC, BIDU, AKAM, LBTYA, ENDP, FAST,
MAR, MAT (24)
Two stocks PYPL and KHC have been
trading for less than one year.
The NDX distribution of returns should convince you that: “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 down at 52.
Short-term Chart Targets:
SPY =...203.40…
QQQ = 110.65…
IWM = 111.68…
Support Levels
SPY = 198.59
QQQ = 108.12
IWM = 109.08
__________________
Setups
Horizontal Breakout: YELP,
Diagonal Breakout: TERP, YNDX,
Bull Flag: AA, AIG, CAH, CCL, CNC,
CSIQ, DRI, FSLR, JASO, KMB, MCD, MPEL, PLAY,
RCL, RUN, SEDG, SOHU, SONC, SPWR, TSL,
W, WUBA, AVGO, ILMN,
MYL, MCD, KMB,
Potential Bullish
Divergence: CRUS, ETFC, JBL, LNKD, MS, NKE,
PANW, QRVO, SCHW, TPX, VRSN, ZION, AAPL, ADSK, AMZN, COST, GOOGL, INTC, LLTC, MSFT,
NFLX, NVDA, SBUX, SWKS, TXN
Bear Flag: MNST,
At Support: AMBA, DPS, KR, FB, ADBE, ATVI, LRCX, NVDA
Moves
New Highs: BXLT
D Breakout: SLCA,
Bull Flag Bounce: FINL, FIVE, SCTY, SUNE,
MACD Divergence Bounce:
SLCA
Gap Up: VXX, BXLT,
TLT
Gap Down: SPY, DIA, QQQ, IWM, FAS,
TSLA, NFLX, AMZN, JD, BABA, BAC, C, CRM, DAL, KWEB, NKE, NTES, STI, SVXY, TBT, V
______________________
14 of 100
NDX stocks closed higher on Monday.
21
NDX stocks are above their 30 DMA.
NDX Stocks to Watch on Tuesday:
Moving Above 30 DMA = 0
Moving Below 30 DMA = 27
ADBE,
AMAT, AMGN, AMZN, ATVI, CA, CERN, CSCO, ENDP, FAST, GOOGL, HSIC, ILMN, JD,
LRCX, LVNTA, MDLZ, MSFT, NCLH, NVDA, PYPL, SRCL, TRIP, TSLA, VRSK, VRTX, WBA
6-month Intermediate
Term Market Trend: Neutral
3-day Short Term Market
Trend: Down
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