DJIA Closes 19,023 as RUT, DJIA and SPX Make All-time New High Close...BURL, SINA, DLTR, WB, ADI, CPB Gap Higher on Positive EPS Reaction...Steel Stocks Continue to Soar...

Eight of ten sectors moved higher on Tuesday …XLRE, XLY and XLB were the strongest sectors while XLV was the weakest sector.  Oil futures down .43 to close at 47.90.

Breadth was steady as advancers led 2,132 to 900 on the NYSE and led 1,719 to 1,047 on the NASDAQ.

Tuesday – steady, advancers led, +8

Monday – strengthened, advancers led, +9

Friday – weakened, advancers led on the NASDAQ, +2

Thursday – strengthened, advancers led, +7

Wednesday – weakened, advancers led, +3

SPY up .43 at 220.15 on 66.8 million shares, 30% below average volume

VIX down .01 at 12.41

TLT down .04 at 121.11…on 8.3 million shares, 13% below average volume

Technical Commentary:

IWM +0.91%, DIA +0.36%, QQQ +0.30%, SPY +0.20%,

We hope you noticed that Chart Signals has featured steel stocks every day since Friday November 4 in the body of our commentary. 

Chart Signals also hopes you have profited from the big moves that have occurred in steel stocks since Nov. 4:  X +62.1%, AKS +56.2%, CLF +52.3%, STLD +28.09%, ATI +25.5%, SCHN +24.8 and NUE +24.7%.

Steel stocks had mega moves to the upside on Tuesday led by CLF, X, AKS, MT, VALE, ATI, SCHN, NUE and STLD.  

Remember Thursday is a holiday…Happy Thanksgiving everyone!  Friday is a half trading day with the NYSE closing at 1 pm ET.  Volume typically slows on Wednesday and is generally light on half day of trading on Friday.

RUT, DJIA and SPX along with their respective ETFs IWM, DIA and SPY made new all-time highs on Tuesday.

IWM, DIA and SPY continue to trend above their horizontal resistance breakout level

SPX up 16 points at 2,202, its first close above 2,200.

DJIA closes 19,023, its first close above 19,000.

SPX Leaders: DLTR, VFC, URBN, NUE, ADI, FCX, MNST, CBG, CPB, GPS, ALK, CHTR, DG, LOW, DLR, TSO, FOSL, ULTA, HSIC, M, ANTM, HUM, RL, O, DPS, HRL, AVGO, KLAC, HCP, VZ, GM, SYMC, EQIX, TSN, AWK, LB, FTR, JEC, GCI, KMX,

VIX did confirm the SPX new closing high.

QQQ in sideways trend getting closer to short-term resistance and is close to a horizontal resistance breakout setup.

NDX point gainers: AMZN, CHTR, INTC, MSFT, CMCSA, QCOM, AVGO, DLTR, SBUX and TSLA

Airline stocks led by ALK, HA, SAVE, SKYW, UAL and DAL continued to rise on Tuesday.

With Black Friday just three days away retail stocks DLTR, GPS, DG, LOW, ULTA, M, LB, SIG, TJX, BBY, KSS, BBBY, TGT and ROST moved higher on Tuesday.

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.

2016 Q3 EPS, Oct - Nov

EPS Positive Reactions

BURL, SINA, DLTR, WB, ADI, CPB, HRL, JEC, SIG, ROST, INTU, BBY, NTAP, TGT, AAP, JD, NVDA, KSS, M, JWN, RL, DDS, QVCA, JCI, MAR, SYY, FDC, RACE, CTSH, PCLN, MGM, LVS, UBNT, SLCA, SBUX, MCHP, FOSL, MHK, CAR, RIG, DDD, YELP, SHOP, ABC, SQ, HSIC, ZTS, DVN, NBL, ANTM, ADP, EA, VRSK, ADM, HRS, MOS, CHKP, COH, TSO, RCL, HBI, SRCL, HSY, EMN, VRSN, UBS, BIDU, CRUS, EXPE, MO, CVX, FFIV, WDC, COP, DOW, AKAM, JNPR, BA, NCR, OI, FLIR, ROL, TSS, LMT, KEY, FCX, VLO, BHI, SAVE, AKS, TMUS, MCD, PYPL, MSFT, MXIM, AXP, SNA, MAT, BK, STLD, WBA, ALK, URI, HAL, MS, USB, NFLX, HOG, UNH, GS, CE, DPZ, CMA, UAL, HAS, DAL, DRI, CSX, COST, RHT, FDX, ADBE

EPS Negative Reactions

URBN after the close today, PDCO, MDT, TSN, CSCO, LOW, HD, TJX,

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Strong Stocks: Setups and Moves You Can Use

Bull Flag Setups include: NTAP, WFM, XLNX, AXP, MMM, UTX, ICE, RCL, JWN, CE, PWR, BIIB, ESRX, REGN, VRTX, DISCA, CTSH, ADSK, JD, MUR,

Bull Flag Bounces include: NUE, X, AKS, BBY, MAR, TGT, NCLH, PCAR, BBBY, JPM, UNH, LMT, HAS, STI, MLM,

Horizontal Breakout Setups include: WB, STX, WDC, AMZN, AAPL, ZION, CSX, ATI, FOSL, DLTR, TRV, SWN, SLB, DVN, SQ, DAL, LUV, SAVE,  CHTR, HAL, BHI, HES, APA, INCY, HIG, FTI, PCLN, NFLX, BA, WFC, HSY, AKAM, CHKP, FB, MXIM, RRC, CTXS, TSLA, GOOGL

Horizontal Breakouts include: BURL, NUE, X, AKS, SCHN, AAP, FCX, SINA, PAYX, MCHP, TMUS, ALK, COST, EXPE, FOXA, LNG, CHK, ULTA, MDLZ,

New Highs include: DLTR, ADI, X, STLD, NUE, AKS, SCHN, FCX, ADP, TCK, TXN, KLAC, CCL, ETFC, SBUX, LRCX, NVDA, CMA, FISV, CMCSA, CC, UAL, SKYW, MU, MS, GS, SCHW, USB, C, BAC, AAL, MCD, CFG, HBAN, RF, FDX,

Horizontal Break of Support Setups include: CSCO,

Break of Support: ATVI, NEM, NTES, TRIP, CERN,

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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 up at 97, bullish.  

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

64 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 4

CA, INTC, MDLZ, QCOM,

Moving Below 30 DMA = 5

BMRN, GILD, JD, NFLX, VIAB,

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up