Two of nine
sectors
moved higher on Friday…XLU, XLK and XLP were the strongest sectors…while
XLY was the weakest sector.
Breadth weakened
as decliners
led advancers 1.68 to
1 on the NYSE and 2.37 to
1 on the NASDAQ.
Friday – weakened,
decliners led
Thursday – strengthened,
advancers led
Wednesday – weakened,
decliners led
Tuesday – Strengthened,
advancers led
Monday – strengthened,
decliners led
SPY down 1.88 at 178.18 volume 194.6 million shares, above average volume
VIX up 1.12 at 18.41…
TNX down .25 at 26.68…
TLT up .72 at 108.28...
XLF down .25 at 21.06 volume 53.6
million shares, above average volume
AAPL up .81 at 500.60 volume 16.6 million shares, above
average volume
FB up 1.49 at 62.57…volume 87.8 million shares, above average volume
Technical
Commentary:
QQQ -0.27%, SPY
-0.59%, IWM -0.74%, DIA
-0.90%.
January Performance
SPX -3.56%
NDX -1.95%
RUT -2.82%
XLU +2.98%
XLV +0.94%
XLK -2.57%
XLF -3.66%
XLI -4.27%
XLB -4.72%
XLP -5.17%
XLE -5.80%
XLY -6.00%
FB +14.49%
NFLX +11.18%
GILD +7.39%
MU +5.93%
GOOG +5.38%
PCLN -1.51%
BIDU -12.02%
AMZN -10.06%
The SPX
finished lower in January for just the third month in the past year. The other two lower months were June and
August. The short-term market trend
was neutral this week as the SPX held the 1,770 area of support
five times this week suggesting that institutions are buyers at this
support area, as they were back in November and December at this same horizontal
level. If support holds next week
look for a bounce back to the 1,800 resistance area and then the 1,820
– 1,830 resistance area if the buyers can break 1,800 resistance.
Be
prepared to trade to the downside if the SPX does break short-term support.
Monday kicks off another week for
earnings with GILD, AKAM, GMCR, P, SWI, TWTR, YELP, LNKD and CBOE among
other reporting this week.
Trade with the trend of the chart you are trading and move your
protective stops. Continue to follow your rules.
Short-term
up trend Chart Targets:
SPY = 181.34, 183.40, 184.69…
QQQ = 88.18, 89.00…
IWM = 114.48, 116.70…
Support Levels
SPY = 179.12, 177.74,
176.36
QQQ = 86.38, 85.67,
84.93
IWM = 112.14, 111.02, 110.71,
109.31
Q4 earnings season continues into the fourth full week…
Monday – AEIS, AGNC
Tuesday – ADM, BWLD,
CHRW, CME, GILD, HCA, IP, KORS, KEYW
Wednesday – AKAM, ADP, BIDU, CTSH, FISV, GMCR, HUM, MDC, MRK, NXPI, ORLY, P, SCSS, SWI, TSO, NDAQ, TWX, TWTR, DIS, YELP
Thursday – ATVI, LNKD, SIAL, TPX, VRSN
Friday – CBOE, CI, MCO
Q4 Earnings Reactions
Positive Reactions – NOV,
SPG, TSN, ZNGA, ALXN, BRCM, BX, CMG, GOOG, JDSU, MTW, PHM, RYL, VIAB, V, BA, DOW,
FB, LVS, QCOM, VLO, AKS, AAL, CHKP, EA, F, ILMN, LXK, CAT, RCL, JNPR, MSFT, KMB, PG,
MXIM, SBUX, NFLX, FFIV, URI, UNP, EBAY, MCD, CREE, TXN, UTX, NUAN, XLNX, BHI,
DAL, RF, MS, SLB, STI, AXP, SWKS, BAC, LLTC, WEN, MON, MU, STZ, APOL
Negative Reactions – CVX,
MA, MAT, PCAR, AMZN, MMM, CELG, CL, XOM, ESI, HOG, OSTK, POT, SHW, WHR, BA,
CTXS, EMC, TSCO, CRUS, GLW, DD, F, VMW, YHOO, AAPL, STX, ZION, HON, KSU, SWK, STT,
ALTR, ISRG, KLAC, KEY, JCI, LMT, WDC, ABT, BAX, ATI, COH, FCX, AMD, IBM, HAL,
JNJ, TRV, VZ, GE, COF, INTC, UNH, C, GS, CSX, FAST, AA, FDO, BBBY, SCHN
Reversal of Initial
Reaction – HON, FAST, FDO, AA
The Market Forecast Green Line is at 20.
____________________
Setups
H Breakout: BX, CIEN, CRM, TWTR, CMCSA, ESRX, FFIV,
GMCR, TSLA,
Diagonal Breakout: MU, BAC, BBRY, CSIQ, LVS, MFRM, SCTY,
SPLK, SPWR, UAL, DAL, ADSK, XLNX,
Bull Flag: JNPR, RCL, UNG, NTAP,
Potential Bullish
Divergence: COST,
Gap Up:
Gap Down:
Bear Flag: FSLR,
GLW, GOGO, NKE, SFUN, SOHU, TSL, X, Z, SNDK, STX, WFM,
At Support: CREE,
DRYS, GLD, IBM, IWM, KKD, MCP, MS, RAX, SPY, STI, V, VRSN, WLT, XONE, YNDX,
YOKU, ZION, ADBE, BIDU, DTV, EBAY, GRMN, INTC, MNST, PCLN, TXN,
C- Pattern:
Moves
New Highs: FB, ANGI, QIHU, TLT, GOOG, NFLX, WYNN,
Gap Up: TSN, ZNGA
Gap Down: MAT, MA, CVX, AMZN,
H Breakout: GOOG, MSFT, WYNN,
Diagonal Breakout:
Breakout Test:
Bounce: LNKD, QCOM,
MACD Divergence
Bounce: SSYS, TPX,
Bear Flag: DDD, FAS,
GRPN, NTES,
Support Break: SINA,
______________________
25 out of 100 NDX stocks
closed higher on Friday.
Leading NDX 100 stocks included: WYNN, GOOG, MSFT,
FB, GMCR, YHOO, BRCM, CTXS, QCOM, NFLX
Lagging NDX stocks included: MAT, AMZN, SYMC,
VRTX, BIDU, FFIV, PCAR, CHKP, VIAB, ISRG
Leading stocks > +2% on Friday
included: QIHU
Lagging stocks < -2.0% included: JNPR, GOGO, FAS, CREE, BBRY, XONE, ANR,
YOKU, SINA, V, RCL, TSL, A, DDD, SCTY, STI, ZION, MCP
Stocks to Watch on Monday
Holding Above 30 DMA= 40
ILMN, ESRX,
CMCSA, AVGO, EQIX, AKAM, FFIV, VRTX, XLNX, SBAC, AMGN, ISRG, MU, MYL, BIIB,
GILD, MXIM, NXPI, TSLA, NTAP, GOLD, NFLX, CHTR, ALTR, ALXN, CHKP, REGN, CHRW,
MSFT, ADSK, BRCM, CERN, FB,
GMCR, GOOG, HSIC, SIAL, SRCL, WDC, WYNN
Moving Above 30 DMA = 1
QCOM
Moving Below 30 DMA = 7
AMZN, CTRX, DISH, DTV,
MNST, ORLY, VRSK
Staying Below 30 DMA
SYMC, SIRI, CSCO, STX, EBAY, PCLN, QCOM, AAPL, ADBE, AMAT, CA, CELG,
CTSH, EXPD, FAST, FISV, KLAC, LLTC, NVDA, PCAR, SNDK, TXN, VIP, VOD, ADI, ADP,
BIDU, CTXS, GRMN, KRFT, EXPE, INTC, INTU, LBTYA, MDLZ, TRIP, VIAB, YHOO, LINTA,
TSCO, ATVI, PAYX, ROST, DLTR, BBBY, FOXA, SPLS, DISCA, MAT, WFM, COST,
LMCA,SBUX
Sixteen Week
Intermediate Term Market Trend: Up
3-Day Short Term Market
Trend: Neutral
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