QQQ Makes New All-time Closing High as Real Estate, Health Care Rise and Financials and Semiconductors Pause...

Sector Trend Strength:

Up Trend: XLF, XLI, XLB, XLY, XLE, XLK, XLP, XLRE

Sideways: XLV, XLU

Down Trend:

Breadth weakened as decliners led 1,661 to 1,345 on the NYSE and led 1,673 to 1,142 on the NASDAQ.

Thursday – weakened, decliners led, +5

Wednesday – strengthened, advancers led, +8 sectors

Tuesday – strengthened, advancers led, +9

Monday – New Year’s Holiday Observance

Friday – weakened, decliners led, +2

Oil futures were up .41 to close at 53.76 on Thursday.  

SPY down .18 at 226.40 on 78.3 million shares, 5% below average volume,

VIX down .18 at 11.67

TLT up 1.88 at 121.98…on 13.2 million shares, 31% above average volume

Technical Commentary:

QQQ +0.57%, SPY -0.08%, DIA -0.20%, IWM -1.15%,

SPY, IWM and XLF all pulled back on Thursday after making a new all-time closing high on Wednesday.

QQQ, SPY, IWM and DIA are each a horizontal resistance breakout setup.

SPX down 1 at 2,269

SPX  gainers ALXN, MAT, NEM, HAS, YHOO, DVN, AMZN, O DLR, CMG, VRTX, CHK, AGN, VIAB, HCP, HCN, CI, CVS, ETFC, COST, RRC, NRG, NFLX, AKAM, SYM, ADBE, CCL, BMY, FB, FTR, SWK, CHTR, ATVI, HUM, NI, EQR, EXR, AA

QQQ made a new all-time closing high at 120.87.

  

NDX point leaders: AMZN, FB, AAPL, ALXN, GOOG, BIDU, COST, YHOO, CHTR, NFLX, ADBE, NTES and PCLN

Earnings Reports

STZ -11.24, -7.11% on a negative earnings reaction.

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: MU, NVDA, XLNX, AVGO, MAR, LRCX, CTXS, INTC, TXN, KLAC, PAYX, SOXL, ALK, UAL,

One Day Pullback: ADP,

Bull Flag Bounces include: COST, CMCSA, CHTR, AAPL, CHKP,

At Support Setups include: 

Support Bounce: 

Horizontal Breakout Setups include: QQQ, SPY, DIA, IWM, FAS, ATVI, COST, CHKP, X, AKS, NCLH, GM, F, FISV, MGM, STI, JPM, C, GS, ADP,

Horizontal Breakouts include: NTES, NFLX, CHTR, STLD, TLT, LNG,

New Highs include: QQQ, NFLX, TSLA,

Break of Support: 

______________________

The SPY MFC green line is in the upper zone at 83 bullish. 

 

80 of 100 NDX stocks closed higher on Thursday.

72 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 9

AMZN, CTRP, HAS, INCY, JD, MAT, NTES, SYMC, VRTX

Moving Below 30 DMA = 8

AMAT, AVGO, DISCA, EA, MAR, TSCO, TXN, XRAY

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

IWM, SPY Make New All-time Closing High...XLF Hits 9-year Closing High...

Sector Trend Strength:

Up Trend: XLF, XLI, XLB, XLY, XLE, XLK, XLP, XLRE

Sideways: XLV, XLU

Down Trend:

XLRE moves to Up Trend from Sideways on a horizontal resistance breakout.

Breadth strengthened as advancers led 2,606 to 466 on the NYSE and led 2,220 to 633 on the NASDAQ.

Wednesday – strengthened, advancers led, +8 sectors

Tuesday – strengthened, advancers led, +9

Monday – New Year’s Holiday Observance

Friday – weakened, decliners led, +2

Thursday – strengthened, advancers led on the NYSE, +5

Oil futures were up .88 to close at 53.35 on Wednesday.  

SPY up 1.34 at 226.58 on 78.7 million shares, 4% below average volume,

VIX down 1.00 at 11.85

TLT up .46 at 120.10…on 6.7 million shares, 32% below average volume

Technical Commentary:

IWM +1.67%, SPY +0.59%, QQQ +0.54%, DIA +0.37%,

SPY made a new all-time closing high at 226.58, eclipsing its Dec 13 high.

IWM made a new all-time closing high at 137.78, eclipsing its Dec 9 high.

XLF made a nine-year closing high at 23.70, eclipsing its Dec 20 high.

Sectors XLP and XLE did not participate in today’s rally.

IWM, DIA and QQQ gave bounce entries on Wednesday. 

VIX did confirm the SPX rally as did financials.

SPX up 13 at 2,270

SPX  gainers FCX, NRG, GM, AA, F, MOS, RHT, KSS, AN, TDC, STT, XRX, GPN, DLPH, ALXN, HCA, OI, NWL, NSC, CNC, WYNN, CRM, BXP, DLR, SWN, SPGI, ILMN, GPS, QRVO, ALB, BBBY, AMP, GILD, KMX, YHOO, LM, SNI, SPLS, RRC

QQQ stayed above old resistance and continued Tuesday’s rally, closing at 120.19.

  

NDX point leaders: FB, GILD, CMCSA, CHTR, AMZN, AMGN, TSLA, NVDA, YHOO, ALXN, BIDU, ESRX, PYPL and SBUX

2016 Q4 EPS

EPS Positive Reactions

MU, CAG, NKE, KMX, CCL, JBL

EPS Negative Reactions

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.

Technical analysis based trades should be closed before earnings.

Trade what you see, not…

______________________

Strong Stocks: Setups and Moves You Can Use

Bull Flag Setups include: MU, COST, NVDA, XLNX, AVGO, MAR, LRCX, CMCSA, CTXS, INTC, TXN, KLAC, PAYX, SOXL, ALK, UAL, CHTR, AAPL, CHKP,

One Day Pullback:

Bull Flag Bounces include: CFG, WDC, IWM, SQ, TSLA, FISV, ZION, USB, DAL, LUV,

At Support Setups include: AMAT, PWR, MSFT, TSCO, BHI, AAL, CAR, PCLN, FAST, ADI, HES, TRV, MCD, CC, UPS, ROST, SBUX, WBA, APA,

Support Bounce: X, AKS, STLD, NCLH, CCL, CE, ATVI, ATI, ICE, BBY, EA, CSX, NUE,

Horizontal Breakout Setups include: X, AKS, STLD, NCLH, GM, F, FISV, MGM, TLT, STI, JPM, C, GS, ADP, LNG, STX, EBAY, BA, UTX, MMM, DISCA, GOOG, TMUS, STX, HAL, SPY, CMA, ETFC, MS, RCL, GD, HBAN, KEY, RF, HIG, ATVI, ATI, ICE, EA,

Horizontal Breakouts include: FAS, XLRE, XLV, DE, NFLX, FTI, SCHW, BAC, TSLA, ADSK, PCAR,

New Highs include: ADP,

Break of Support:

______________________

The SPY MFC green line is in the upper zone at 80 bullish. 

 

80 of 100 NDX stocks closed higher on Wednesday.

71 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 18

ADBE, AMAT, ATVI, BIIB, CMCSA, CSX, DISCA, FB, LBTYA, NXPI, REGN, SIRI, TRIP, TSCO, ULTA, VIAB, XRAY, YHOO

Moving Below 30 DMA = 3

CERN, ISRG, KLAC,

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

2017 Starts with a Broad Rally as Nine of Ten Sectors Rally and Advancers Lead Decliners and VIX Confirms...

Sector Trend Strength:

Up Trend: XLF, XLI, XLB, XLY, XLE, XLK, XLP

Sideways: XLV, XLU, XLRE

Down Trend:

Breadth strengthened as advancers led 2,308 to 742 on the NYSE and led 1,812 to 995 on the NASDAQ.

Tuesday – strengthened, advancers led, +9 sectors

Monday – New Year’s Holiday Observance

Friday – weakened, decliners led, +2

Thursday – strengthened, advancers led on the NYSE, +5

Wednesday – weakened, decliners led, +0

Oil futures were down 1.42 to close at 52.47 on Tuesday.  

SPY up 1.71 at 225.24 on 91.3 million shares, 10% above average volume,

VIX down 1.19 at 12.85

TLT up .51 at 119.64…on 13.2 million shares, 31% above average volume

Technical Commentary:

QQQ +0.89%, SPY +0.76%, IWM +0.50%, DIA +0.46%,

A big bounce on Tuesday saw QQQ form a bullish harami, a potential bounce setup, SPY gave a bounce entry, IWM and DIA are bounce setups.  VIX did confirm the SPX bounce as did financials.

SPX up 19 at 2,257

SPX  gainers XRX, CTL, ENDP, FTR, ABC, MPC, MCK, TSS, GPS, LVLT, FSLR, FCX, PBI, KMI, CERN, NFX, RIG, PRGO, MNK, STX, F, PDCO, PXD, GILD, URI, CAH, REGN, MAT, PNR, CNC, OI, AMGN, DVN, ROK, VLO, CXO, CRM, JCI, NFLX

QQQ re-broke out of old resistance, closing above 119.31, after falling below on Friday.

  

NDX point leaders: GOOG, FB, MSFT, AMGN, GILD, CELG, AMZN, AAPL, BIIB, CSCO, INTC, NFLX, REGN, BIDU and PYPL

2016 Q4 EPS

EPS Positive Reactions

MU, CAG, NKE, KMX, CCL, JBL

EPS Negative Reactions

RHT, BBBY, FINL, AGN, FDX, GIS, ADBE

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.

______________________

Strong Stocks: Setups and Moves You Can Use

Bull Flag Setups include: MU, CFG, WDC, IWM, SQ, TSLA, COST, NVDA, XLNX, AVGO, MAR, LRCX, CMCSA, CTXS, INTC, TXN, KLAC, PAYX, FISV, SOXL, ZION, USB, ALK, DAL, LUV, UAL, CHTR, AAPL, CHKP,

One Day Pullback:

Bull Flag Bounces include: ADP, NFLX, SCHW, STI, JPM, C, BAC, GS, DISCA, GOOG, TMUS,

At Support Setups include: AMAT, X, AKS, PWR, HBAN, KEY, RF, HIG, CCL, MSFT, TSCO, CE, BHI, STLD, AAL, CAR, ATVI, ATI, PCLN, FAST, ICE,

NCLH, BBY, EA, CSX, NUE, ADI, HES, TRV,

Support Bounce: STX, HAL, SPY, MGM, FAS, CMA, ETFC, MS, ADSK, RCL, GD, PCAR

Horizontal Breakout Setups include: MGM, XLRE, XLV, TLT, NFLX, FTI, SCHW, STI, JPM, C, BAC, GS, ADP, LNG, STX, EBAY, BA, UTX, MMM

Horizontal Breakouts include:

New Highs include: ADP,

Break of Support: MCD, CC, UPS, ROST, SBUX, WBA, APA,

______________________

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 80 bullish.  Prepare to become defensive if SPY closes below support and MFC green line points down below 80. 

85 of 100 NDX stocks closed higher on Tuesday.

56 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 20
ADSK, BIDU, BMRN, CA, CELG, CERN, EA, FOXA, GILD, GOOG, HSIC, ILMN, ISRG, KLAC, MNST, PYPL, SHPG, STX, TXN, VOD

Moving Below 30 DMA = 2

ADI, AMAT

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Neutral

Pre-Market Bounce...Happy New Year Traders...

Tuesday morning BMO

Above Friday’s High:  DIA, SPY, XLE, FAS, MPC, MRO, RIG, BAC, NFX, CTL, FOXA, C, NKE, GS, HBI, SCHW

Near Fridays’ High:  IWM, XLI, XLK, XLV, CHK, NOV,

Moving towards Friday’s High:  QQQ, XLB, XLY, XLP, AA,