Flag Setups for Next Week:
(click
image to enlarge)
Sector Trend Strength:
Up Trend: XLF, XLI, XLB, XLY, XLE
Sideways: XLK, XLV
Down Trend: XLP, XLU, XLRE
For the week ended December 2, four of
ten sectors moved higher.
XLE +2.90%,
XLF +1.07%, XLB +0.85%,
XLI +0.16%, XLU -0.76%,
XLRE -0.77%,
SPY -0.83%,
Lagging sectors XLP -0.32%, XLV -0.32%, XLY
-0.32%, XLK -0.32%,
YTD 233
Leading Sectors: XLE +24.06%, XLI +18.49%,
XLF +17.05%, XLB +15.11%,
XLK +9.01%, XLU +8.13%,
SPY +7.75%,
Lagging Sectors: XLY +4.20%, XLP +0.16%,
XLV -5.03%, XLRE -5.12%
Breadth strengthened as advancers led 1,649
to 1,345 on the NYSE and led 1,413 to 1,343 on the
NASDAQ.
Friday
– strengthened, advancers led, +7
Thursday – weakened slightly, decliners led, +5
Wednesday – weakened, decliners led, +4
Tuesday –
strengthened, decliners led, +9
Monday – weakened, decliners led, +4
Oil futures were up .77 to close at 51.68,
eclipsing its Oct 19 high by one cent.
SPY up .43 at 219.68 on 74.8
million shares, 19% below average volume
VIX up .05 at 14.12
TLT up .87 at 119.60…on
12.4 million shares, 17% above average volume
Technical Commentary:
QQQ +0.20%, SPY +0.05%, IWM -0.05%, DIA -0.08%,
IWM,
DIA and SPY continue to remain above their
horizontal resistance breakout level
SPY, IWM and XLY are bull flag price patterns. XLB, XLE and XLF are in a day one pullback flag pattern.
Steel
stocks AKS, X, CLF, VALE, MT, SCH, STLD and NUE resumed their uptrend today after a
four-day pause.
SPX up .87 point at
2,191.95
SPX Leaders: AMAT, NEM, EBAY, IRM, TSO, HES, NFLX, WD, WMB, LLY, QCOM,
EXC, WHR, FCX, FTI, GPN, CHK, GGP, ALK, O, CBG, EW, EFX, HCN, SWKS, CA, H, HPE,
BHI, STX
QQQ
is in sideways trend and formed a spinning top near its intermediate-term
support today.
NDX point gainers: QCOM, AAPL,
INTC, AMAT, NFLX, AMGN, EBAY, GOOG and WBA
Follow
your rules and look for potential re-entry if you were stopped out of any
profitable trades.
Continue
to move up stops on short term bullish trades that could pull back. All according to your profit protection rules.
If you moved stops you may have been stopped out today.
Remember
breakouts typically test about 70% of the time.
Technical analysis based trades should be closed before earnings.
Trade
what you see, not…
Stocks below support should generally be traded bearishly until a reversal pattern forms.
2016 Q3 EPS
EPS Positive Reactions
FIVE,
BIG, THO, 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,
EPS Negative Reactions
WDAY,
AMBA, SWHC, ULTA, ADSK, URBN, PDCO, MDT,
TSN, GPS, CSCO, LOW, HD, TJX,
______________________
Strong Stocks: Setups and Moves You Can Use
Bull Flag Setups include: FCX, BBY, NTAP, DLTR, ADP, TGT, TCK, MU, CCL, MCD, BURL,
FISV, PAYX, DAL, AAP, UAL, SKYW, MUR, APA, LNG, C, BAC, PWR, SBUX, RCL, JWN, NCLH,
FOSL, TXN, KLAC, WB, LRCX,
Bull Flag Bounces include: MGM, NUE, SCHN, LUV, X, SQ,
Horizontal Breakout Setups include: NUE, X, LUV, CE, FTI,
Horizontal Breakouts include: STLD, AKS, CHK, SQ,
New Highs include: BHI, HAL, HES, SQ, ALK, CE, CC, SAVE, TRV, CMA, WDC,
FDX, AAL, ALK, UPS, BA, HBAN, ZION, GS, CFG, MS, ETFC, USB, RF, SCHW, CSX, UNH,
MAR, CMCSA,
______________________
Short-term Movers for the week:
SPX gainers: RIG,
HP, MRO, NFX, HES, CHK, HAL, XEC, DVN, EOG, NBL, APC, URI, MUR, CXO, GS, LUK,
NOV, FLS, CFG, NEM, COP, UNH, CMA, MOS, CVS, FTI, GWW, HST, SLB, TIF, +10, 4, +4, 32
SPX losers: HRB, FOSL, COTY, AA, QRVO, MAS, CRM, TSS, DG, ADS, STZ, MNK,
HBI, FBHS, MCHP, GCI, BAX, RL, NWL, PVH, HRL, FTR, TDG, DLPH, URBN, NAVI, DHI,
KORS, COH, V, GPN, MHK, VLO, AJG, LEN, COO, EFX, PHM, TXN, GPS, FE, AFL, FIS,
WU, MDT, HAS, ALLE, GT, AMT, ORCL, MA, KIM, RCL, TAP, CCL, K, -4, 85
NDX gainers: CSX, ALXN, FAST, +4, 0
NDX losers: VRTX, TRIP, LBTYA, QVCA, TSLA,BMRN, MAT, AVGO, ADSK, MU,
SIRI, LRCX, REGN, XRAY, LVNTA, NVDA, MXIM, SRCL, ADI, ILMN, INCY, SYMC, CERN,
AMZN, ADBE, TXN, EXPE, MDLZ, SWKS, AKAM, SBAC, EA, FB, PYPL, ENDP, ATVI, GILD, -4, 38
YTD: 233
SPX Leaders:
FCX, OKE, NEM, SE, PWR, SWN, MLM, CMI, CHK, HAL, (355, -16, > 10p 238, -19)
SPX Losers: FSLR, GCI, PRGO,
AGN, HRB, COTY, PBI, MNK, UA, MCK
NDX Leaders:
NVDA, AMAT, CHTR, CSX, TMUS, ULTA, NTAP, PCAR, MU, QCOM, (56, -8, >10p 37, -6)
NDX Losers: ENDP, TRIP, VRTX,
SRCL, ALXN, MYL, ILMN, NCLH, REGN, LBTYA
DJI Leaders:
CAT, UNH, CVX, GS, JPM, IBM, MRK, WMT, MMM, UTX, (23, -2, >10p 11, -2
DJI
Losers: NKE, DIS,
KO, V, PFE, HD, INTC
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 in the upper zone at 88, bullish.
56 of 100
NDX stocks closed higher on Friday.
40
NDX stocks are above their 30 DMA.
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 2
LRCX, NFLX,
Moving Below 30 DMA = 2
DISCA, SIRI,
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market
Trend: Down
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