SPY Hits Jan 20 Support at 181 and Buyers Appear Again...OPEC to Cut Production?...TRIP, CTL, CSRA, CSCO, EXPE, O Gap Up

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All nine sectors moved lower on Thursday…XLY, XLK and XLe were the strongest sectors while XLF was the weakest sector.  Oil fell $0.03 to close at 27.30. after falling as low as 26.05.  Oil rallied after a report indicated that the UAE energy minister said that OPEC was ready to cooperate on a reduction in oil production.

                         

Breadth weakened as advancers led decliners 4.31 to 1 on the NYSE and decliners led 2.24 to 1 on the NASDAQ.

Thursday- weakened, decliners led

Wednesday – strengthened, advancers led on the NYSE

Tuesday – strengthened, decliners led

Monday – mixed, decliners led

Friday – weakened, decliners led

SPY down 2.41 at 182.86 on 219 million shares, 28% above average volume

VIX up 1.85 at 28.14…

TNX down .61 at 16.44…

TLT up .93 at 133.72…on 21.6 million shares, 103% above average volume

XLF down .62 at 19.66…on 126.2 million shares, 76% above average volume

AAPL down .57 at 93.70 on 50 million shares, 12% below average volume

FB up .91 at 101.91 on 43.6 million shares, 1% above average volume

Technical Commentary:

QQQ -0.14%, IWM -1.09%, SPY -1.30%, DIA -1.62%.

Once again futures sink overnight and the broad indexes open significantly lower on Thursday.

Weekly jobless claims dropped to 269K, better than expected, vs. a forecast of 281K.

The NDX -0.10% and QQQ -0.14% was strengthened by positive earning reactions on TRIP, CSCO, EXPE, ORLY and TSLA.  An impressive 31 NDX stocks rose on a weak market day.  Fourteen of those gained 2.18% or more.

Stocks below support should generally be traded bearishly until a reversal pattern forms.

Only three Dow stocks CSCO, DIS and XOM rose on Thursday. 

Positive Earning Reactions included: TRIP, CTL, CSRA, CSCO, EXPE, O, MOS, ORLY, NLSN, K, ALLE, TSLA

YTD:

SPX Leaders:  NEM, KORS, O, SE, SWN, TSN, COG, ED, CHRW, MAT (80)

SPX Losers: CHK, WMB, ESV, MRO, MPC, URI, LNC, VRTX, LM, ADS

NDX Leaders:  MAT, FAST, PCAR, XLNX, FISV (5)

NDX Losers: INCY, TSLA, VRTX, BMRN, NCLH, WDC, REGN, MU, ALXN, JD

DJI Leaders:  VZ, WMT, XOM, PG, MMM

DJI Losers: AXP, BA, GS, JPM, INTC, DD, IBM, HD, DIS, UTX 

Remember:  “It’s a market of stocks, not just a stock market.”

Trade with the trend of the chart you are trading and continue to move your profit protection stops.  Continue to follow your rules.

The SPX MFC green line is pointed down at 15. 

31 of 100 NDX stocks closed higher on Thursday.

13 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 5

CHKP, CSCO, FB, LLTC, ORLY

Moving Below 30 DMA = 1

CA

6-month Intermediate Term Market Trend: Neutral

3-day Short Term Market Trend: Down

Up, Down, Up, Down Volatility...SPY Closes 16 Cents Lower...AKAM Higher After EPS...TSLA, EXPE, CSCO Gain After-hours...

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Two of nine sectors moved higher on Wednesday…XLV, XLK and XLU were the strongest sectors while XLB was the weakest sector.  Oil fell $1.02 to close at 27.33.

                         

Breadth strengthened as advancers led decliners 1.13 to 1 on the NYSE and decliners led 1.02 to 1 on the NASDAQ.

Wednesday – strengthened, advancers led on the NYSE

Tuesday – strengthened, decliners led

Monday – mixed, decliners led

Friday – weakened, decliners led

Thursday- strengthened, advancers led

SPY down .16 at 185.27 on 148.2 million shares, 10% below average volume

VIX down .25 at 26.29…

TNX down .24 at 17.05…

TLT up 1.16 at 132.79…on 12.7 million shares, 26% above average volume

XLF down .11 at 20.28…on 65.6 million shares, 4% below average volume

AAPL down .72 at 94.27 on 42.3 million shares, 24% below average volume

FB up 1.46 at 101.00 on 45.1 million shares, 6% above average volume

Technical Commentary:

QQQ +0.38%, IWM +0.05%, SPY -0.09%, DIA -0.53%.

Another volatile trading day with futures up overnight and SPY gapping higher on the open and rising to a weekly high up more than two dollars, followed by a pullback to opening levels, another rally to near highs and a final pullback to finish down 16 cents for the day.

Janet Yellen spoke before Congress today and continues her comments on Thursday.

SPY, QQQ and DIA each made a higher high and higher low on Wednesday.   QQQ closed 37 higher while DIA finished down 85 cents from weakness in DIS, IBM and CAT.

The NDX +18.48 on Wednesday was led by point gains in AMZN, MSFT, FB, PCLN, GOOG, MDLZ, AKAM, AMGN, CELG, ATVI, BIDU, ADBE, GILD and HSIC.

Stocks below support should generally be traded bearishly until a reversal pattern forms.

Ten Dow stocks NKE, V, UNH, PFE, MSFT, MRK, MCD, HD, CVX and GE rose on Wednesday. 

Positive Earning Reactions included: AKAM, SEE, HSIC, GT, CVS, TSLA, EXPE, CSCO

YTD:

SPX Leaders:  NEM, KORS, SWN, SE, TSN, ED, EQT, EXC, COG, MAT (91)

SPX Losers: CHK, WMB, ESV, MRO, MPC URI, TRIP, VRTX, ADS, LM

NDX Leaders:  MAT, FAST, PCAR, FISV, ROST (5)

NDX Losers: TSLA, TRIP, BMRN, VRTX, NCLH, INCY, WDC, REGN, DISH, MU

DJI Leaders:  VZ, WMT, PG, XOM, MMM

DJI Losers: AXP, BA, GS, INTC, CSCO, JPM, DIS, HD, V, DD

Remember:  “It’s a market of stocks, not just a stock market.”

Trade with the trend of the chart you are trading and continue to move your profit protection stops.  Continue to follow your rules.

The SPX MFC green line is pointed down at 26. 

67 of 100 NDX stocks closed higher on Wednesday.

9 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 2

AKAM, HSIC

Moving Below 30 DMA = 1

ROST

6-month Intermediate Term Market Trend: Neutral

3-day Short Term Market Trend: Neutral

Volatility Rules as SPY Gyrates to Slight Gain Above Support...

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Five of nine sectors moved higher on Tuesday…XLB, XLV and XLP were the strongest sectors while XLE was the weakest sector.  Oil fell $1.77 to close at 28.35.

                         

Breadth strengthened as decliners led advancers 2.26 to 1 on the NYSE and 1.87 to 1 on the NASDAQ.

Tuesday – strengthened, decliners led

Monday – mixed, decliners led

Friday – weakened, decliners led

Thursday- strengthened, advancers led

Wednesday – strengthened, advancers led on the NYSE

SPY up .01 at 185.43 on 184.3 million shares, 16% above average volume

VIX up .54 at 26.54…

TNX down .06 at 17.29…

TLT up .14 at 131.49…on 15.2 million shares, 59% above average volume

XLF down .03 at 20.39…on 137.2 million shares, 105% above average volume

AAPL down .02 at 94.99 on 44.3 million shares, 20% below average volume

FB down .21 at 99.54 on 62.7 million shares, 52% above average volume

Technical Commentary:

SPY +0.01%, DIA -0.07%, QQQ -0.31%, IWM -0.67%.

SPY, DIA and QQQ each formed an inverted hammer-like candle with a higher high and higher low on Tuesday than Monday.  Each held above August support indicating that institutions may be continuing to accumulate stock at this horizontal support level for the fourth time since last August.

The NDX leading stocks on Tuesday:  EA, NFLX, ENDP, ILMN, WBA, VRSK, NCLH, NXPI, GILD, ROST, MAR, MDLZ, INCY, AAL, PCLN   

Stocks below support should generally be traded bearishly until a reversal pattern forms.

Sixteen Dow stocks PFE, HD, DD, KO, NKE, UNH, MCD, V, MRK, MMM, UTX, AXP, GE, TRV, DIS and PG rose on Tuesday. 

XLB Materials was led by gains in MLM, OI, ECL, SEE, AVY, SHW, IP, VMC, PX, BLL, DD, PPG, CF, WRK and MOS.

Positive Earning Reactions included: OI, MLM and MAS

YTD:

SPX Leaders:  NEM, KORS, SE, SWN, EXC, MAT, ED, TSN, RRC, CMI (98)

SPX Losers: CHK, WMB, ESV, MRO, MPC URI, TRIP, VRTX, ADS, LM

NDX Leaders:  MAT, FAST, PCAR, CMCSA, ROST, FISV, XLNX (7)

NDX Losers: TSLA, BMRN, TRIP, VRTX, INCY, NCLH, WDC, REGN, ADSK, MU

DJI Leaders:  VZ, WMT, PG, XOM, MMM, KO

DJI Losers: AXP, BA, GS, CSCO, INTC, JPM, HD, DIS, V, DD, MSFT

Remember:  “It’s a market of stocks, not just a stock market.”

Trade with the trend of the chart you are trading and continue to move your profit protection stops.  Continue to follow your rules.

The SPX MFC green line is pointed down at 21.  

42 of 100 NDX stocks closed higher on Tuesday.

8 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 2

CA, ROST

Moving Below 30 DMA = 0

6-month Intermediate Term Market Trend: Neutral

3-day Short Term Market Trend: Down

Futures Down Overnight Find Support Above Monday's Low...

Are you interested in finding strong stocks?  If so, let us know of your interest at chartsignals@yahoo.com.  We can help you find leaders like: MAT, FAST, PCAR, DISCK, CMCSA, VZ, WMT, XOM, NEM, SWN, KORS, RRC, SE ...

Futures fell overnight and found support near Monday's low after this morning's trading session began...the SPX remains volatile with the VIX at 26.75 above Monday's close...however support is holding and in early trading SPX advancers are more than double Monday's level...

Positive earning reactions include: OI, MLM, MAS, GT, WYN

Moving Up:  NFLX +4.18%, EA +4.08%, FB +1.44%, NVDA +2.58%, NXPI +2.44%, NCHLH +2.38%, ROST +1.99%, PCLN +1.92%

Long Tail Hammer on SPX, SPY, DIA, QQQ Near August Support Indicate Possible Bottom...Protect Bearish Profits...

All nine sectors moved lower on Monday…XLP, XLU and XLE were the strongest sectors while XLB was the weakest sector.  Oil fell 88 cents to close at 30.12.

                         

Breadth was mixed as decliners led advancers 3.96 to 1 on the NYSE and 2.45 to 1 on the NASDAQ.

Monday – mixed, decliners led

Friday – weakened, decliners led

Thursday- strengthened, advancers led

Wednesday – strengthened, advancers led on the NYSE

Tuesday – weakened, decliners led

SPY down 2.53 at 185.42 on 180.7 million shares, 20% above average volume

VIX up 2.62 at 26.00…

TNX down 1.13 at 17.35…

TLT up 2.77 at 131.49…on 14.4 million shares, 50% above average volume

XLF down .53 at 20.42…on 107.4 million shares, 70% above average volume

AAPL up .99 at 95.01 on 54 million shares, 1% below average volume

FB down 4.32 at 99.75 on 71.2 million shares, 80% above average volume

Technical Commentary:

DIA -0.98%, SPY -1.35%, QQQ -1.53%, IWM -1.64%.

SPX, SPY, DIA and QQQ all formed a hammer candle near August support indicating that institutions may be accumulating stock at support for the fourth time since last August.  SPY broke the 187.06 support on the open putting traders in a defensive posture.

With the formation of a bullish hammer or other bullish candles, stops should be moved above today's bullish candles to protect profits on bearish trades in the event that a follow through bounce occurs on Tuesday.

The NDX -63.80 formed a long tail hammer below last week’s support low, led by point losers FB, AMZN, MSFT, BIIB, CTSH, MDLZ, PCLN, ADBE, TSLA, NXPI, AVGO, AMGN, ATVI, INTC and ISRG. 

Stocks below support should generally be traded bearishly until a reversal pattern forms.  

DIA fell to last week’s support low and formed a hammer candle.  Nine Dow stocks CVX, PG, JNJ, XOM, AAPL, MCD, KO, MMM and CSCO rose on Monday. 

XLP Staples was led by gains in TSN, HRL, HSY, MKC, CLX, COST, PG, CPB and MO.

XLI Industrials was led by gains in CHRW, KSU, UPS, UNP and GWW.

YTD:

SPX Leaders:  NEM, SWN, KORS, RRC, SE, COG, MAT, EXC, EQT, ED, ()

SPX Losers: WMB, CHK, MPC, ESV, MRO, URI, VRTX, RCL, TRIP, ADS

NDX Leaders:  MAT, FAST, CMCSA, PCAR, VIAB, XLNX, DISCK, FISV (8)

NDX Losers: TSLA, BMRN, VRTX, NCLH, INCY, TRIP, WDC, ILMN, ADSK, MU

DJI Leaders:  VZ, WMT, XOM, PG, MMM,

DJI Losers: AXP, BA, GS, INTC, CSCO, HD, JPM, DD, V, DIS

Remember:  “It’s a market of stocks, not just a stock market.”

Trade with the trend of the chart you are trading and continue to move your profit protection stops.  Continue to follow your rules.

The SPX MFC green line is pointed down at 29. 

  

______________________

13 of 100 NDX stocks closed higher on Monday.

6 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 5

CA, DISCA, FB, PYPL, VIAB

6-month Intermediate Term Market Trend: Neutral

3-day Short Term Market Trend: Down