Four of ten sectors moved higher on Thursday …XLU, XLRE and XLV were the strongest
sectors while XLF was the weakest sector. Oil futures rise 0.54 to close at 50.55.
Breadth weakened as decliners led 2,025 to 1,027 on the NYSE and led 2,033 to 791
on the NASDAQ.
Thursday
– weakened, decliners led, +4
Wednesday – strengthened, advancers led on the NYSE, +6
Tuesday –
weakened, decliners led, +0
Monday – strengthened, advancers led, +9
Friday – weakened, decliners led, +0
SPY down .70
at 213.01 on 100.9 million shares, 1%
above average volume
VIX up
.78 at 16.69
TLT up
.50 at 133.46…on 7.0 million shares, 17% below average volume
Technical Commentary:
DIA -0.29%, SPY -0.30%, QQQ -0.36%, IWM -0.80%,
SPX
futures fell overnight after China reported that exports dropped 5.6%, measured in yuan, in
September which converts to a 10.0%
drop in U.S. dollars. In dollars imports
fell 1.9%.
SPY
opened lower and fell to its recent Sep 12 support hitting 211.21 where buyers took control and prices rose above the open and
formed a hammer like white candle.
SPX Leaders: ULTA, AAL, HCA, RRC, ALK, LUV, CSX, PGR, CTSH, UHS, CHK,
MYL, SWN, PLD
A positive reaction to DAL’s earnings as airline stocks AAL, SAVE, LUV, ALK, HA,
JBLU and UAL take off.
ULTA +27.17, +11.37% led the SPX and NDX on
Thursday after raising their Q3 outlook.
CSX +0. 94, +3.11% on better than expected net income.
JPM,
C and WFC report earnings before the open on Friday.
EPS Positive Reactions
DAL, CSX,
COST, RHT, FDX, ADBE
EPS Negative Reactions
AA,
FAST, ILMN, MU, PAYX, CCL
Consider
moving up stops on short term bullish trades that
could pull back. All according to your profit protection rules.
Remember
breakouts typically test about 70% of the time.
Technical analysis based trades should be closed before earnings. After-hours
Trade
what you see, not…
Stocks below support should generally be traded bearishly until a reversal pattern forms.
______________________
Strong Stocks: Setups and Moves You Can Use
Bull Flag Setups include: NVDA, LVS, WB, AAPL, ADBE, ADSK, AKAM, AMZN, CTRP, GOOG,
LRCX, NCLH, NFLX, NXPI, QCOM, SWKS, WDC, JPM, BAC, C, STI, ZION, GS, MS, ETFC, SCHW,
UAL, APA, RCL, CCL, CAVM, URBN, LITE,
Bull Flag Bounces include: AAL, CSX, DISH, ISRG, DAL, HA,
SAVE,
Horizontal Breakout Setups include: EXPE, JBLU, FL, SCHN, SE, CHK,
Horizontal Breakout include: ULTA, LUV, ALK,
New Highs include: NTES,
______________________
Trade with the trend of
the chart you are trading and
continue to move your profit protection stops. Continue to follow your rules.
The SPY MFC green line is pointed down at
44, defensive.
34 of 100
NDX stocks closed higher and two
were unchanged on Thursday.
27 NDX stocks are above their 30 DMA.
NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 2
ORLY, ULTA,
Moving Below 30 DMA = 10
ADSK, AVGO, CHKP, DISCA,
FB, INTC, JD, PCLN, SYMC, TRIP,
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market
Trend: Down
No comments:
Post a Comment