Sector Trend Strength:
Up Trend: XLF, XLI, XLB, XLY, XLE, XLK, XLP, XLRE
Sideways: XLV, XLU
Down Trend:
YTD 4
Leading Sectors: XLV +2.92%, XLY +2.36%,
XLK +2.15%, XLRE +2.11%,
XLB +1.85%,
SPY +1.65%,
Lagging Sectors: XLI +1.48%, XLF +1.25%,
XLP +0.79%, XLE +0.76%,
XLU +0.54%,
Breadth strengthened
as decliners led 1,584 to 1,431
on the NYSE and led 1,508 to 1,251 on the NASDAQ.
Friday
– strengthened, decliners led, +9
Thursday – weakened, decliners led, +5
Wednesday – strengthened, advancers led, +8 sectors
Tuesday –
strengthened, advancers led, +9
Monday – New Year’s Holiday
Observance
Oil futures were down .06 to close at 53.70 on Friday.
SPY up
.81 at 227.21 on 71.5 million shares, 13%
below average volume,
VIX down .35
at 11.32
TLT down 1.12
at 120.86…on 8.3 million shares, 17% below average volume
Technical Commentary:
QQQ +0.88%, DIA +0.38%, SPY +0.36%, IWM -0.37%,
SPY,
DIA and QQQ all made a new all-time
closing high on Friday. QQQ and SPY gave a horizontal
breakout entry on Friday while DIA is
still a horizontal resistance breakout
setup.
Q4
earning’s season starts next week.
SPX up 8 at 2,277
SPX gainers ILMN, AES, EBAY,
TRIP, ALXN, WAT, A, ADSK, HPM, MDT, MON, ABT, KSU, AMGN, MTD, IPG, FB, ADBE,
SRCL, CNP, WMB, IDXX, JCI, AMZN, XLNX, FCX, BDX, AIG, STZ, AME, FOXA, SPGI,
NAVI, MCHP, TDG, AMP, TXN
QQQ made
a new all-time closing high at 121.93.
NDX point leaders: AMZN, AAPL, FB, MSFT,
GOOG, AMGN, TXN, ADBE, EBAY, ALXN, ILMN, AVGO and SBUX
Earnings this week:
Monday – AYI, GPN, CMC
Tuesday –
Wednesday – KBH
Thursday – DAL
Friday – BAC, BLK, JPM, PNC, WFC
2016 Q4 EPS
EPS Positive Reactions
MU,
CAG, NKE, KMX, CCL, JBL
EPS Negative Reactions
STZ, RHT,
BBBY, FINL, AGN, FDX, GIS, ADBE
Trade with the trend of
the chart you are trading and
continue to move your profit protection stops. Continue to follow your rules.
Follow
your rules and look for potential re-entry if you were stopped out of any
profitable trades.
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.
______________________
Strong Stocks: Setups and Moves You Can Use
Bull Flag Setups include: ADP, MU, NVDA, XLNX, AVGO, MAR, LRCX, INTC, KLAC,
PAYX, SOXL, ALK, CFG, JPM, C,
One Day Pullback: STLD, NTES, NFLX, TLT, ETFC,
Bull Flag Bounces include: CTXS, TXN,
At Support Setups include: MSFT, ZION,
USB, DAL, LUV, AMAT, TSCO, BHI, AAL, CAR, FAST, ADI, HES, TRV, CC, UPS, ROST, WBA,
APA, BBY, STX, DISCA, TMUS, ATI, EA
Support Bounce: MCD, SBUX,
Horizontal Breakout Setups include: DIA, IWM, FAS, FTI, NTES, ATVI,
AAPL, CCL, WDC, CSX, GS, BA, SBUX, PCAR, PWR, X, AKS, NCLH, CMCSA, COST, CE,
NUE, GM, F, MGM, STI, ADP, TLT, ADSK, NUE, MMM, CMA, MS, RCL, HBAN, KEY, RF,
HIG, ICE,
Horizontal Breakouts include: QQQ, EBAY, FB, ADBE, AMZN,
GOOG, SPY, SQ, UTX, AKAM, FISV, CHTR, CHKP, PCLN, GOOG, LNG, HAL, GD
New Highs include: QQQ, SPY, TSLA, DE, NFLX, XLV, XLRE, SCHW, HAL,
ETFC,
______________________
YTD: 4
SPX Leaders:
FCX, FTR, AA, NRG, ABC, TSS, CNC, CRM, GPN, RIG (387, > 10p 5)
SPX Losers: KSS, M, LB, SIG,
SWN, JWN, TSO, DR, URBN, TRV
NDX Leaders:
ALXN, MAT, ILMN, TRIP, LBTYA, INCY, VRTX, VIAB, VOD, BIDU, (89, >10p 3)
NDX Losers: NVDA, REGN, XLNX,
QVCA, ADI, TMUS, KHC, AAL, FAST, TSCO
DJI Leaders:
NKE, V, DIS, PFE, UTX, MRK, GS, BA, IBM, AXP, (20, >10p 0
DJI Losers: TRV, XOM, WMT, MCD,
CVX, HD, VZ, PM, MMM, DD
The SPY MFC green line is in the upper zone at
86 bullish.
63 of 100
NDX stocks closed higher on Friday.
76
NDX stocks are above their 30 DMA.
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 7
AVGO, INTU, KLAC, LVNTA,
MXIM, PCLN, TXN
Moving Below 30 DMA = 3
REGN, STX, TMUS
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market
Trend: Up
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