Five of nine
sectors
moved higher on Thursday…XLU, XLV and XLB were the strongest sectors…while
XLF was the weakest sector.
Breadth weakened
as
advancers led decliners 1.38 to 1 on the NYSE and 1.05 to
1 on the NASDAQ where decliners led
advancers.
Thursday – weakened, mixed
Wednesday – weakened,
advancers led
Tuesday – strengthened,
advancers led
Monday – weakened,
decliners led
Friday – strengthened,
advancers led
SPY down .24 at 184.42 volume 72.2 million shares, below average volume
VIX up .25 at 12.53…
TNX down .41 at 28.43…
TLT up .70 at 105.04...
XLF down .14 at 22.00 volume 47
million shares
AAPL down 3.11 at 554.25 volume 8.2 million shares
FB down .41 at 57.19…volume 34.5 million shares, below average volume
Technical
Commentary:
DIA – 0.36%,
SPY – 0.13%, QQQ +
0.01%, IWM + 0.12%.
Stocks
ended lower on Thursday’s trading session with the S&P losing 2.5
points while retreating from yesterday’s high and the DJIA losing 64.93…after
disappointing earnings reports from BBY, C, and GS.
SCTY sizzled today by breaking
horizontal resistance with a bounce and a gap up in trading today continuing on
yesterday’s trend and closed at an all-time high gaining 8.30 in
today’s session and advanced 12.12%. SPWR also sizzled in today’s
trading and is within .15 of its previous all-time high of 35.39 made on
October 21, 2013. SPWR gained 3.27 today
or 10.26%
on 7 million shares.
The intermediate-term trend is still
up, while the short-term trend is neutral.
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 is underway.
Monday – WEN
Tuesday – JPM, LLTC, WFC
Wednesday – BAC, CSX,
FAST
Thursday – AXP, COF, C,
GS, INTC, SWKS, UNH
Friday – GE, MS, SLB,
STI
Q4 Earnings Reactions
Positive Reactions –
BAC, LLTC, WEN, MON, MU, STZ, APOL
Negative Reactions –
FAST, AA, FDO, BBBY, SCHN,
Reversal of Initial
Reaction – FDO, AA,
The Market Forecast Green Line is pointed up above 80.
____________________
Setups
H Breakout: AMGN,
BRCM, GRMN, PCLN, SNDK, SYMC, TSLA, IBM, ANGI, DDD, ESI, IBM, LNKD, QIHU, RAX, SPWR,
TSL, YOKU,
Diagonal Breakout: EBAY, MCD, VZ, TWTR,
Bull Flag: MRK,
Potential Bullish
Divergence:
Gap Up:
Gap Down:
Bear Flag:
At Support: CVX,
C- Pattern:
Moves
New Highs: ADSK, GILD, GOOG, QCOM, A, P, UAL,
Gap Up: SCTY, SPLK,
Gap Down: C,
H Breakout:
Diagonal Breakout: MSFT, F,
Breakout Test:
Bounce: XONE,
MACD Divergence
Bounce:
Bear Flag:
Support Break: WMT,
______________________
41 out of 100 NDX
stocks closed higher on Thursday
and two were unchanged.
Leading NDX 100 stocks included: TSLA, GILD, ILMN,
VRTX, GOLD, ALXN, BIDU, CELG, NXPI
Lagging NDX stocks included: SPLS, AVGO, CTXS,
DISH, YHOO, AMAT, EXPE, KLAC, SBUX
Leading stocks > +2% on Thursday
included: SCTY, SPWR, LNKD, XONE, SPLK, ANGI, DDD, QIHU, ESI, YOKU
Lagging stocks < -2.0% included: SINA, C, FIVE, MCP, MFRM, GS
Stocks to Watch on Friday
Holding Above 30 DMA= 76
CTSH,
FISV, WDC, GOOG, ILMN, LLTC, EXPE, ADSK, ESRX, ALXN, MDLZ, YHOO, SIAL, CMCSA, LBTYA, GMCR, STX, DTV, BRCM,
WYNN, FB, AVGO, INTC, EQIX, ORLY, ADBE, AKAM, VIAB, CA, CHKP, FFIV, PCAR, SNDK,
VRTX, XLNX, CTRX, KRFT, AMAT, CSCO, SBAC, CHTR, HSIC, SIRI, AMGN, ISRG, MU,
MYL, TRIP, BIIB, CHRW, EXPD, ADP, ALTR, AMZN, CTXS, EBAY, GILD, INTU, KLAC,
MXIM, NVDA, QCOM, SRCL, VOD, TXN, ADI, REGN, TSLA, VIP, NXPI, AAPL, CERN, GRMN,
NTAP, PCLN, SYMC
Moving Above 30 DMA = 2
CELG, GOLD
Moving Below 30 DMA = 3
LINTA, DISH, TSCO
Staying Below 30 DMA
BIDU, FAST, ATVI, PAYX, ROST, DLTR, BBBY, SPLS, FOXA, MAT, DISCA, WFM,
VRSK, NFLX, MSFT, COST, SBUX, LMCA
Sixteen Week
Intermediate Term Market Trend: Up
3-Day Short Term Market
Trend: Up
