Three of nine sectors moved
higher on Monday…XLU, XLE and XLF were the strongest sectors…while XLY was the weakest sector.
Breadth weakened
as
decliners led advancers…1.16 to 1 on the NYSE and 1.73 to
1 on the NASDAQ.
Monday – weakened – decliners led
Friday – strengthened,
advancers led
Thursday – weakened,
decliners led
Wednesday – New Year’s
Tuesday – strengthened,
advancers led
Monday – weakened,
decliners led
SPY down .52 at 182.36 volume 107.5 million shares, above avg. volume
VIX down .21 at 13.55…
TNX down .34 at 29.61…
TLT up .43 at 102.60...
XLF up .02 at 21.91 volume 34.7
million shares
AAPL up 2.95 at 543.93 volume 14.7 million shares, above
avg. volume
FB up 2.64 at 57.20…volume 68.8 million shares
Technical
Commentary:
IWM – 0.81%,
QQQ - 0.37%, DIA –
0.30%, SPY – 0.29%.
SIRI gained on Monday after a buyout
offer from Liberty Media Corp closing the session up .26 or 7.28%. TWTR
gapped down today after a downgrade closing down 2.71 or 3.93% on 27.3
million shares.
P gapped up and broke horizontal resistance on 29
million shares to gain 3.90 or 14.14% and is pennies away from an
all-time high. SCSS gapped down losing 4.07 or 19.06% on 7.1 million shares.
Chart Signals is looking
for a potential support bounce this week as markets head into the start
of earnings season.
Trade with the trend, move your protective stops. Continue to follow your rules.
Remember it is big money
that creates and sustains the trend. As Granville wrote,
“technical analysis is the art of tracking the market, following the
footsteps of the ‘smart money’ crowd.
The ‘smart money crowd’ is no mysterious ‘THEY.’ It is simply a collection of people who are reading the market correctly,
seeing through the maze, unconfused by this hall of mirrors.”
Short-term
up trend Chart Targets:
SPY = 184.69, 186.06, 186.90…
QQQ = 87.79, 88.74…
IWM = 115.98, 116.70, 118.54…
Q4 earnings season unofficially starts next Thursday,
January 9
with the AA earnings release after
the close.
Tuesday – APOL, MU
Wednesday – BBBY, MON,
SCHN
Thursday – AA, FDO,
Q4 Earnings Reactions
Positive Reactions –
Negative Reactions –
The Market Forecast Green Line is above 80.
____________________
Setups
H Breakout: GMCR,
NVDA, SFUN,
Diagonal Breakout:
Bull Flag: ADSK, AMAT, BIDU, CA, CMCSA, CTSH, CTXS,
DISCA, ESRX, EXPE, FFIV, FISV, FOXA, INTU, MAT, MDLZ, PAYX, QCOM, SIAL, SYMC, TSCO,
VIAB, ATI, DRYS, LVS, NTES, SPY, X,
Potential Bullish
Divergence:
Gap Up:
Gap Down:
Bear Flag:
At Support: BIIB, COST,
SBUX, TRIP,
C- Pattern:
Moves
New Highs: DTV, LBTYA, GS,
Gap Up: SIRI, BAC, P, SCTY, SWI, TSL,
Gap Down: CELG, EBAY, WFM, FSLR, SCSS, TPX, TWTR,
H Breakout: BBRY, C, ESI, YELP, YOKU, Z,
Diagonal Breakout:
Breakout Test:
Bounce: FB, VRTX,
MACD Divergence
Bounce:
Bear Flag:
Support Break: VRSK,
______________________
27 out of 100 NDX
stocks closed higher on Monday.
Leading NDX 100 stocks included: SIRI, FB, VRTX,
GMCR, LBTYA, NVDA, CHTR, GOOG, PCAR, VOD
Lagging NDX stocks included: CELG, WFM, SPLS,
EBAY, GOLD, CTXS, VRSK, LMCA, MSFT, ADBE
Leading stocks > +2% on Monday
included: P, YOKU, SCTY, Z, YELP, ESI, BBRY, TSL, SOHU, SINA
Lagging stocks < -2.0% included: SCSS, FSLR, SSYS, TPX, DRYS, DDD, MCP,
TWTR, MFRM, WLT
Stocks to Watch on Tuesday
Holding Above 30 DMA= 65
CTSH, FISV,
INTU, WDC, GOOG, AMZN, ILMN, LLTC, EXPE, ADSK, ESRX, ALXN, MDLZ, MNST, YHOO,
DISH, SIAL, CMCSA, LBTYA, GMCR, DTV, STX, BIDU, BRCM, FB, WYNN, AVGO, EQIX, INTC, TSLA, ORLY, ADBE,
AKAM, VIAB, CA, CHKP, FFIV, LINTA, PCAR, TSCO, VOD, SNDK, VRTX, XLNX, ADP,
ATVI, CTRX, CTXS, DISCA, FOXA, KRFT,
PAYX, AMAT, MAT, NVDA, ALTR, BBBY, CHTR, CSCO, SBAC, SYMC, DLTR, ROST, HSIC,
MXIM
Moving Above 30 DMA = 1
SIRI
Moving Below 30 DMA = 10
ADI, AMGN, CELG, EBAY,
GILD, KLAC, NXPI, SPLS, TXN, VIP
Staying Below 30 DMA
AAPL, BIIB, CHRW, EXPD, ISRG, MU, QCOM, WFM, FAST, MYL, NFLX, NTAP, VRSK,
PCLN, GRMN, MSFT, CERN, SRCL, TRIP, COST, LMCA, SBUX, REGN, GOLD
Sixteen Week
Intermediate Term Market Trend: Up
3-Day Short Term Market
Trend: Down/Neutral
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