Eight of nine
sectors moved higher on Tuesday… XLE, XLK, and XLF
were the
strongest sectors.
Breadth strengthened on Tuesday as advancers led decliners …2.86 to 1 on the NYSE and 2.53 to 1 on the NASDAQ…
Monday – strengthened, advancers led
Friday – strengthened, decliners led
Thursday – weakened, decliners led
Wednesday – weakened, decliners led
NDX 100 annual
changes take effect prior to the open Monday, Dec. 24, 2012:
Additions: ADI, CTRX, DISCA, EQIX, LBTYA, LMCA, REGN,
SBAC, VRSK, WDC
Deletions: APOL, EA, FLEX, GMCR, LRCX, MRVL, NFLX,
RIMM, VRSN, WCRX
It is time to
consider moving stops to protect profits of the last two days.
SPY up 1.60 at 145.37...volume 177.7 million shares…
VIX -0.77 at 15.57…
TNX +0.64 at 18.27…
TNX +0.64 at 18.27…
TLT down -1.24 at 120.51…
XLF up 24 cents at 16.57…volume 70.3 million shares
XLF up 24 cents at 16.57…volume 70.3 million shares
AAPL up 15.07 at 533.90…volume 22.3 million shares …
FB up 96 cents at`26.75…on volume of 57.7 million
shares…
__________________
Technical
Commentary:
The SPY
formed a large white candle as its bull flag bounce continued for the second
straight day. SPY closed above its 144.55 T1
with a flagpole target at 146.82. The
VIX closed lower and did confirm the SPY move up today.
The ES closed up
14.25 at 1,441.50 and NQ futures closed up 39.50 at 2,703.25 as AAPL continued its bounce.
Trading has shifted to the H3,
March contract.
Chart Signals
has been stating since Nov 23 that the weight of the evidence continues to suggest the Nov 16 low was likely
to hold. Now that more than three weeks
has past and you can look at the charts from hindsight, Chart Signals hopes that you see the value of
being objective in your analysis and not being swayed by every wind of
opinion that doesn’t stand the test of time and disappears like a thief in
the night.
The Euro continued its seven day, 300+ pip rise and closed up 66 pips at 1.3229 on Tuesday. TNX, interest rates jumped, TLT, bonds
dropped down -1.24 and XLF soared 24 cents to 16.33.
FFIV, APOL and STX were among
SPX and NDX leaders on Tuesday.
Digital disk storage
stocks STX and
WDC had big gains today. Coal
stocks ANR, ACI, BTU, CNX and WLT were on the rise once again.
SPY – large white
candle, bull flag bounce continuation
AAPL – gap
white candle, MACD divergence, below 30 DMA
FB – white candle
bounce in channel, BO target 29.63
FAS – large white
candle, breakout continuation
AMZN – large white
candle, horizontal breakout
EXPE – white candle,
bull flag bounce continuation at T1
STX – large white
candle, bull flag bounce at T1
VIAB – white hammer,
bull flag bounce
RIMM – hammer, EPS
Dec 20
CRUS – white candle,
counter trend bounce continuation
F – white candle
at T1
PHM –white candle resistance
breakout
SWK – gap bullish
engulfing, bull flag bounce and breakout
SWI – white candle,
30 DMA bounce setup
RAX – large white
candle breakout
URI – large white
candle bull flag bounce and breakout
YELP – black candle
pull back to bull flag bounce area, close below 30 DMA
XHB – large white
candle diagonal breakout, above 30 DMA
XRT – white spinning
top, bounce to resistance, above30 DMA
BO = breakout, DBO = diagonal breakout, CT = counter-trend, IT =
intermediate term, ST = short term
The Market Forecast Green Line is in the upper reversal zone.
____________________
Chart Targets:
SPY = 146.82 short-term resistance flagpole target
ES = 1,449 161% Fib extension
ES = 1,449 161% Fib extension
1,459 = 200% measuring
EUR/USD = 1.3281 161% Fib
extension
Short-term support at
1.3126 = Euro
1.3126 = Euro
144.55 = SPY
90.09 = SPXL
1,432 = ES
2,691 = NQ
1,432 = ES
2,691 = NQ
Setups:
Bull Flag: MCP, AMGN, CELG, MNST, MXIM, DELL, AMAT, DECK
Moves:
Bull Flag Bounce: EBAY, FB, NTAP, SNDK, BRCM, VIAB, PCAR, ALTR, LLTC, MRVL, XLNX, BIIB, SIAL, URI, TSLA,
SWK, DLR, SMH, GLW, WDC, VECO, ADI
Bounce Continuation: SPY, DIA, IWM, FAS, AMZN, BAC, C, V, LNKD, VMW,
STI, GILD, GRMN, STX, COST, EXPD, XRAY, URE, IBM, DISCA, X, AKS,
Pause:
TRIP, SBUX
____________________
86 of 100 NDX
stocks closed higher on Tuesday…
Leading NDX 100 stocks included: GMCR,
FFIV, APOL, STX, AKAM, VRTX, MRVL, FB, LIFE, FOSL
Lagging NDX stocks included: EA, RIMM, VOD, ISRG, MDLZ, CELG, ROST, SBUX, GOLD, YHOO
Leading stocks > +2% on Tuesday included: RAX, URI, GRPN, ATI, JDSU, ANR, CRUS, CLF, WDC, ANF, FB, GS, BAC, SWK, PHM, TPX, RVBD, GLW, VECO, ZAGG, F, LDK, JNPR, SLB, CMG, TIF, HUM, STI, AKS, CIEN, URE, TBT
Lagging stocks < -2.0% included: YELP, FAZ
Stocks to
Watch on Wednesday…
Holding Above 30 DMA = 83
YHOO, MYL, RIMM, XRAY, SBUX, HSIC, GILD, FB, CSCO, NTAP GMCR, VMED, EA, EXPD, LLTC, MXIM, PCAR, TXN, XLNX, AMGN, BIIB, CELG, EBAY, LIFE, SIAL, AMZN, FISV, ADSK, DELL, FFIV, MAT, MRVL, MU, ORCL, BRCM, SRCL, COST, MNST, ADBE, GOOG, GRMN, NWSA, SYMC, WYNN, AMAT, CTSH, PAYX, ADP, APOL, FOSL, INTU, KLAC, NFLX, VIAB, FLEX, NUAN, STX, AKAM, ALTR, CHKP, DTV, FAST, MCHP, SNDK, CTXS, ALXN, CHRW, LRCX, MDLX, NVDA, BBBY, ESRX, EXPE, INTC, ISRG, SPLS, SIRI, BIDU, WCRX, BMC, CMCSA, CERN, VRTX
YHOO, MYL, RIMM, XRAY, SBUX, HSIC, GILD, FB, CSCO, NTAP GMCR, VMED, EA, EXPD, LLTC, MXIM, PCAR, TXN, XLNX, AMGN, BIIB, CELG, EBAY, LIFE, SIAL, AMZN, FISV, ADSK, DELL, FFIV, MAT, MRVL, MU, ORCL, BRCM, SRCL, COST, MNST, ADBE, GOOG, GRMN, NWSA, SYMC, WYNN, AMAT, CTSH, PAYX, ADP, APOL, FOSL, INTU, KLAC, NFLX, VIAB, FLEX, NUAN, STX, AKAM, ALTR, CHKP, DTV, FAST, MCHP, SNDK, CTXS, ALXN, CHRW, LRCX, MDLX, NVDA, BBBY, ESRX, EXPE, INTC, ISRG, SPLS, SIRI, BIDU, WCRX, BMC, CMCSA, CERN, VRTX
Moving Above
30 DMA = 7
CA, DLTR, LINTA, MSFT, ORLY, QCOM, WFM
Moving Below 30
DMA = 0
Staying Below 30 DMA
ATVI, VOD, AVGO, PCLN, AAPL,
SHLD, GOLD, PRGO, VRSN, ROST
Fifteen Week
Intermediate Term Market Trend: Neutral
Short Term Market Trend: Up
