DJIA, RUT and SPX All-time New High Close Again in Record Week...CTRP Gaps Up on EPS Reaction...

Flags Flying This Week:

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Flag Setups for Next Week:

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Nine of ten sectors moved higher on Friday …XLU, XLP and XLI were the strongest sectors while XLE was the weakest sector.  Oil futures were down 1.98 to close at 45.96.

For the week ended November 25, nine of ten sectors moved higher.

XLB +2.57%, XLI +2.30%, XLE +2.24%, XLY +2.19%, XLU +1.88%, XLP +1.43%,

SPY +1.38%,

Lagging sectors XLK +1.35%, XLRE +1.18%, XLF +1.13%, XLV -0.32%,

YTD 228

Leading Sectors: XLE +20.56%, XLI +18.30%, XLF +15.81%, XLB +14.14%, XLK +12.07%, XLU +8.96%,

SPY +8.66%,

Lagging Sectors: XLY +6.17%, XLP +1.45%, XLV -3.54%, XLRE -4.39%

Breadth strengthened as advancers led 1,893 to 1,037 on the NYSE and led 1,693 to 937 on the NASDAQ.

Friday – strengthened, advancers led, +9

Thursday – Thanksgiving Holiday

Wednesday – weakened, advancers led, +6

Tuesday – steady, advancers led, +8

Monday – strengthened, advancers led, +9

SPY up .82 at 221.52 on 37.8 million shares, 59% below average volume

VIX down .09 at 12.34

TLT up .18 at 120.82…on 3.1 million shares, 68% below average volume

Technical Commentary:

DIA +0.37%, SPY +0.37%, IWM +0.33%, QQQ +0.32%,

Friday’s half trading day saw light trading as expected with SPY at 37.8 million, QQQ with 6.8 million, DIA with 1.5 million and IWM with 13.4 million shares, each with less than 50% of their average volume.

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

Follow your rules and continue to move up stops on short term bullish trades that could pull back.  All according to your profit protection rules.

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

SPX up 8 points at 2,213, its third consecutive close above 2,200.

DJIA closes 19,152, its third straight close above 19,000.

SPX Leaders: FSLR, CTSH, AWK, AES, NI, COL, CMS, HPQ, ETR, FE, XEL, FTR

QQQ in sideways trend is nearing intermediate-term resistance and is a horizontal resistance breakout setup. 

CTRP +4.02, +9.81% gapped up on a positive earnings reaction.

NDX point gainers: AAPL, CSCO, CTRP, MDLZ, INTC, MSFT, CHTR and CTSH

Steel stocks with modest gains on Friday were led by CLF, AKS, MT, NUE and X.

Airline and retail stocks cooled off and were mixed on Friday after a strong week heading into the Thanksgiving Day weekend.   

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

CTRP, DE, VEEV, GME, BURL, SINA, DLTR, WB, ADI, CPB, HRL, JEC, SIG, MRVL, 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, PDCO, MDT, TSN, CSCO, LOW, HD, TJX,

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Strong Stocks: Setups and Moves You Can Use

Bull Flag Setups include: STX, NTAP, WDC, AMZN, WFM, XLNX, HAL, MUR, ICE, RCL, CE, MXIM, MGM, DISCA, JD, ADI, DLTR, JWN, FTI, SLB, ADSK, REGN, VRTX

Bull Flag Bounces include: AAPL, NCLH, LMT, WFC, MLM,

Horizontal Breakout Setups include: CSX, DAL, LUV, TSLA, AXP, MMM, BA, JPM, UNH, UTX, PWR, ESRX, SAVE, BBBY, STI, HIG, ATI, FOSL, SWN, DVN, RRC, CHTR, BHI, HES, APA, INCY, CTXS, WB, SINA, COST, EXPE, AKAM, LNG, CHK, ULTA, PCLN, NFLX, CHKP, FB, GOOGL,

Horizontal Breakouts include: SQ, TGT, HAS, TRV,

New Highs include: PCAR, X, STLD, NUE, AKS, MAR, AAL, CCL, LRCX, NVDA, MU, MCD, FDX, UPS, TXN, ZION, MS, ETFC, USB, C, BAC, RF, ADP, LUV, UAL, SKYW, TMUS, KLAC, CMCSA, CFG, SCHN, FCX, BURL, BBY, AAP, TCK, FOXA, SBUX, FISV, CC, ALK, GS, SCHW, CMA, PAYX, MCHP, HBAN,

Horizontal Break of Support Setups include: CSCO, NEM, NTES, CERN, TRIP

Break of Support: ATVI,

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Short-term Movers for the week:

SPX gainers:  FCX, DE, MPC, CHK, WYNN, SWN, ADI, FTR, URI, ADS, ANTM, JEC, NUE, FLR, IRM, RRC, OKE, CPB, COTY, COL, KMX, AMG, AZO, SHW, DPS, VZ, AAP VFC, WU, MNK, FSLR, FOSL, CMI, SIG, EQT, VAR, T, HAS, BAC, CTAS, LYB, OMC, MRO, AA, LOW, COG, DG, ETN, IPG, ALK, SCHW RIG, BBY, TDG, +10, 4,  +4, 62

SPX losers:  PDCO, TSN, URBN, LLY, MDT, CRM, HPQ, -4, 8

NDX gainers:  DLTR, ADI, MNST, CTRP, TSLA, MAT, ULTA, AVGO, QVCA, CHTR, MU, SYMC, ORLY, +4, 13

NDX losers:  CTSH, -4, 1,

YTD: 224

SPX Leaders:  FCX, OKE, NEM, SE, MLM, PWR, SWN, CMI, NUE, NAVI, (371, +9, > 10p 257, +27)

SPX Losers:  FSLR, GCI, PRGO, AGN, PBI, HRB, MCK, EQR, UA, LB

NDX Leaders:  NVDA, AMAT, CHTR, ULTA, MU, TMUS, NTAP, QCOM, TXN, CSX, (64, +0, >10p 43, +4)

NDX Losers:  ENDP, TRIP, ALXN, SRCL, MYL, NCLH, VRTX, ILMN, REGN, GILD

DJI Leaders:  CAT, UNH, CVX, JPM, IBM, MRK, GS, WMT, MMM, UTX, (25, +2, >10p 13, +1)

DJI Losers:  NKE, DIS, KO, PFE, HD

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 97.99, bullish. 

75 of 100 NDX stocks closed higher and one was unchanged on Friday.

70 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 7

CTRP, CTSH, LVNTA, MDLZ, NXPI, TSLA, VIAB,

Moving Below 30 DMA = 0

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up