Tuesday, November 8, 2016

Markets Volatile But Hold Monday's Gains and Rise on Election Tuesday...PCLN Soars...


All ten sectors moved higher on TuesdayXLU, XLRE and XLI were the strongest sectors while XLF was the weakest sector.  Oil futures slid .12 to close at 44.83.


Breadth weakened as advancers led 1,710 to 1,279 on the NYSE and led 1,498 to 1,227 on the NASDAQ.

Tuesday – weakened, advancers led, +10
Monday – strengthened, advancers led, +10
Friday – strengthened, advancers led, +4
Thursday – strengthened, decliners led, +4
Wednesday – weakened, decliners led, +0


SPY up .96 at 214.11 on 104.3 million shares, 17% above average volume
VIX up .03 at 18.74
TLT down .53 at 130.09…on 7.5 million shares, 3% below average volume

Technical Commentary:
QQQ +0.65%, DIA +0.56%, SPY +0.45%, IWM +0.26%,


SPX gains 8 points to 2,139, in its Sep 9 to Oct 31 trading range
Neutral on the SPX above 2,115
VIX remains steady as America heads to the polls to vote
IWM, QQQ, SPY, DIA all rise for the second straight day
NDX point leaders PCLN, FB, AAPL, GOOGL, KHC, MDLZ, CMCSA and CHTR
FB +1.69% rallies for the third straight day following Thursday’s earnings bearish gap

Airline stocks JBLU, UAL, HA, SAVE, DAL, VA, LUV, AAL and ALK fly higher on Tuesday.


Steel stocks AKS, X, ATI, SCHN, STLD, NUE and SCHN push higher on Tuesday.


SPX Leaders: FCX, PCLN, JCI, AA, MOS, MDLZ, CTL, LVLT, CPB, CHD, GIS, OKE, EMR, MCHP, AET, ANTM, SYY, MAR, KHC, K, NWL, JBHT, UHS, XL, TRV, CNC, HUM, CXO, R, PSA, UPS, WBM, KIM, CI, CHTR, AYI, WHR, MLM and COST


Tuesday’s earning winners included QVCA, PCLN, JCI and MAR.  Losers included CVS, ENDP, NWSA, ALB, IFF and EXPD.



EPS Positive Reactions
QVCA, PCLN, JCI, MAR, SYY, FDC, RACE, CTSH, PCLN, LVS, UBNT, SLCA, SBUX, MCHP, FOSL, 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, CSX, COST, RHT, FDX, ADBE

EPS Negative Reactions
CVS, ENDP, NWSA, ALB, IFF, EXPD MNST, ATVI, FSLR, WYNN, CS, APA, FB, UVE, AIG, CHTR, PAYC, DATA, CAVM, BABA, X, GILD, HLF, ILMN, NFX, DO, SCTY, AMZN, MCK, ABC, CAH, GT, ABBV, LM, COG, CA, AMGN, AET, LITE, XOM, CLF, ORLY, NEM, POT, AAPL, EW, CMG, LUV, CMCSA, UA, P, WHR, PNRA, JBLU, GM, MMM, NLSN, WAT, SHW, MAS, PNR, MCO, EBAY, TRV, LRCX, TSCO, INTC, ISRG, ST, JNJ, IBM, AA, FAST, ILMN, MU, PAYX, CCL

EPS Neutral Reactions
SWKS, LBTYA, CI, QCOM, FOXA, GOOGL, PSX, SKYW, BX, CA, TWTR, UPS, TSLA, MO, NXPI, STT, GD, KO, ESRX, VRTX, PCAR, AAL, NUE, XLNX, CTXS, LLTC, BAC, C, JPM, PNC

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.


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Strong Stocks: Setups and Moves You Can Use
Bull Flag Setups include: AKAM, PYPL, NEM,

Bull Flag Bounces include: RCL, NCLH, SAVE, NVDA, WDC, NFLX, QCOM, MXIM,
VRSN, STI, EXPE, HSY, NTES,

Horizontal Breakout Setups include: X, SCHN, MS, BAC, USB, CE, LUV, PCAR, CMA, ALK, C, AMZN, ZION, STI, MXIM, TMUS, MSFT, DPZ, HAS, CMCSA,

Horizontal Breakouts include: MDLZ, JPM, CCL,

New Highs include: GS, DAL, UAL, AAL, CC, SQ, STLD, MLM, AKS, NUE,  

Horizontal Break of Support Setups include: CAVM, DLTR, ULTA, JD, TSLA, CTRP,


Break of Support: DO, ATVI, COST, BBBY, BIDU, 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 26, bullish

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

53 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 10
BIIB, CHTR, DISH, GOOG, INTU, KHC, LBTYA, MAT, NCLH, TXN,

Moving Below 30 DMA = 2
TRIP, WBA,

6-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Up

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