US - Market Direction 40 (May 17 - Feb 18)

Re: US - Market Direction 40 (May 17 - Dec 17)

Postby winston » Sat Oct 28, 2017 9:16 am

5 Reasons Stock Should Keep Climbing

1. A strong economy
2. Earnings growth
3. Global synchronized growth
4. A healthy market
5. Worldwide stock gains


Source: Kiplinger

http://www.thetradingreport.com/2017/10 ... -climbing/
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: US - Market Direction 40 (May 17 - Dec 17)

Postby winston » Mon Oct 30, 2017 7:35 am

MONDAY

The Friday move was on Friday and it was rather limited to some really big stocks that announced earnings.

Was enough momentum created to keep the move going, to keep new money chasing the large caps AND continue into stocks that look to be turning the corner for a new move higher?

THAT is the big question in our view.

Source: Investment House
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: US - Market Direction 40 (May 17 - Dec 17)

Postby winston » Mon Oct 30, 2017 7:59 am

CHARTS

NASDAQ: Have to lead with NASDAQ as its components were exploding higher. Boom, boom, boom, boom. NASDAQ gapped upside rallied through the prior highs earlier in October, and surged, closing near the session high. Volume rallied Wednesday to Friday as it tested the 20 day EMA then on the blast higher Friday.

SOX: SOX worked through its personal problems and chop over the past two weeks, all the while holding the 10 day EMA. Then Friday, boom, a gap and a fill, then a race higher and closing at a new post-2000 high near the session high.

SP400: After a quite volatile week, and indeed Friday, the midcaps surged to a new high, closing at that high. Not out of the woods but a good move.

SP500: Very similar action to the midcaps, gapping upside, testing the 10 day EMA then rallying to a new high. Lots of volatility the past week but held support and we will see if this breakout on good volume holds.

RUTX: After lots of volatility the past two weeks, RUTX fell below the 20 day EMA intraday Wednesday but recovered. Friday was the big move, breaking upside for 3/4%. No new high but got the test and now breaking upside.

Source: Investment House
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: US - Market Direction 40 (May 17 - Dec 17)

Postby winston » Mon Oct 30, 2017 8:02 am

MARKET SUMMARY

- Earnings of the mega caps blast NASDAQ, SOX higher.
- Strong moves, narrow breadth.
- Q3 GDP beats upside for back to back 3% gains. Inventories rise presumptively in anticipation of Q4 holiday sales.
- Stock buybacks down 15% but authorizations are up.
- Some of the big names still in the buy zone and we see other forgotten names setting up a familiar upside pattern that has returned nice gains.
- Big question: was Friday the start of a new break higher based on new rotation?

Source: Investment House
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Re: US - Market Direction 40 (May 17 - Dec 17)

Postby winston » Mon Oct 30, 2017 7:50 pm

NEW HIGHS OF NOTE LAST WEEK

Visa (V)... credit cards
Bank of America (BAC)... financial-services giant
JPMorgan Chase (JPM)... financial-services giant
Morgan Stanley (MS)... financial-services giant
Interactive Brokers (IBKR)... Internet brokerage
TD Ameritrade (AMTD)... Internet brokerage
Salesforce (CRM)... software for businesses
GoDaddy (GDDY)... Internet domain names
Microsoft (MSFT)... "digital utility"
Cisco (CSCO)... Internet "plumbing"
Texas Instruments (TXN)... semiconductors
Intel (INTC)... semiconductors
Corning (GLW)... smartphone screens
Grubhub (GRUB)... on-demand food delivery
Wal-Mart (WMT)... discount retailer
Dollar General (DG)... discount retailer
Dollar Tree (DLTR)... discount retailer
Pfizer (PFE)... prescription drugs
Johnson & Johnson (JNJ)... health care giant
Baxter (BAX)... medical devices
UnitedHealth (UNH)... health insurance
Cigna (CI)... health insurance
KB Home (KBH)... homebuilder
Home Depot (HD)... home improvement
Sherwin-Williams (SHW)... paint
Stanley Black & Decker (SWK)... tools and storage
Honeywell (HON)... manufacturing
Northrop Grumman (NOC)... "offense" contractor
Boeing (BA)... airplanes

NEW LOWS OF NOTE LAST WEEK

AT&T (T)... telecom giant
General Electric (GE)... appliance giant
Kellogg (K)... food giant
Chipotle Mexican Grill (CMG)... burritos
Papa John's (PZZA)... pizza
Walgreens Boots Alliance (WBA)... pharmacies
GGP (GGP)... shopping malls

Source: Daily Wealth
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: US - Market Direction 40 (May 17 - Dec 17)

Postby winston » Tue Oct 31, 2017 6:49 am

Here’s why one chart watcher says the stock market is finally ready for a pullback

By Anora M. Gaudiano

Mind the ‘gap’ on the S&P 500 daily chart: BTIG’s Stockton

“Prolonged overbought conditions on their own do not indicate anything other than being overbought, and markets can stay overbought for some time,” said Stockton.

“But when such a gap appears after prolonged overbought conditions, it is exhaustive in nature and suggests that the short-term momentum is likely to waiver,” Stockton said.


CNN’s Fear and Greed Index stands at 73 on a scale of 0 to 100, with the 100 being extreme greed and zero being extreme fear. On Oct. 5 it hit 94 and last Friday it was at 91.

“If we close lower sometime this week, then, the downside risk will increase,”


Source: Market Watch

https://www.marketwatch.com/story/heres ... yptr=yahoo
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: US - Market Direction 40 (May 17 - Dec 17)

Postby winston » Tue Oct 31, 2017 6:49 am

Here’s why one chart watcher says the stock market is finally ready for a pullback

By Anora M. Gaudiano

Mind the ‘gap’ on the S&P 500 daily chart: BTIG’s Stockton

“Prolonged overbought conditions on their own do not indicate anything other than being overbought, and markets can stay overbought for some time,” said Stockton.

“But when such a gap appears after prolonged overbought conditions, it is exhaustive in nature and suggests that the short-term momentum is likely to waiver,” Stockton said.


CNN’s Fear and Greed Index stands at 73 on a scale of 0 to 100, with the 100 being extreme greed and zero being extreme fear. On Oct. 5 it hit 94 and last Friday it was at 91.

“If we close lower sometime this week, then, the downside risk will increase,”


Source: Market Watch

https://www.marketwatch.com/story/heres ... yptr=yahoo
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: US - Market Direction 40 (May 17 - Dec 17)

Postby winston » Mon Nov 06, 2017 4:34 pm

MONDAY

With sentiment over 60.0 for a month, that is a bit worrisome. The market, however, keeps rotating and finding new leadership or should I say recycled leadership in the case of the NASDAQ large caps and FAANG?

That keeps us looking for upside plays -- with a smattering of downside here and there in those sectors that were leading but are in the process of testing.

There is news this weekend as Saudi Arabia, under its new prince, cleans house in what is described as fighting corruption. That has Prince CNBC (Alwaleed Bin Talal) arrested on corruption charges.

Saudi also said it intercepted a missile from Yemen aimed at one of Saudi's airfields near its capitol. Maybe that means something, but it won't to this market.

Plenty of bullishness for certain, but as I noted last week again after discussing it over a month ago, all of those billionaire money managers that so loudly proclaimed they were out of the market because it was surely ready to crash those that followed their advice are being forced back into the market.

That provides the fuel to continue the move because their billions are now what helps drive the market higher.

Source: Investment House
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: US - Market Direction 40 (May 17 - Dec 17)

Postby winston » Mon Nov 06, 2017 4:40 pm

CHARTS

NASDAQ: Also a big mover over the Fridays with a general trend higher in between. Rising above the 10 day EMA as NASDAQ looks impressive, not surprising given the breakouts in the large caps on their earnings.

SP500: New closing high as it continues rising up the 10 day EMA. Not a huge move but is working through its volatility, keeping the move higher going.

DJ30: A slower week after leading the move two weeks back, still trending up the 10 day EMA but letting others take the lead.

RUTX: Holding near the 20 day EMA in now the fifth week of pullback, and struggling with a lot of volatility. The sellers and buyers are still evenly matched as RUTX trades in big intraday ranges but holds its near support.

SP400: Volatile as well, but working up the 10 day EMA nonetheless. Not as volatile as RUTX and it is also maintaining its uptrend while it bounces around intraday.

Source: Investment House
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: US - Market Direction 40 (May 17 - Dec 17)

Postby winston » Mon Nov 06, 2017 9:54 pm

NEW HIGHS OF NOTE LAST WEEK

Wal-Mart (WMT)... discount retailer
Dollar Tree (DLTR)... dollar stores
C.H. Robinson Worldwide (CHRW)... shipping technology
Apple (AAPL)... iPhones, iPads, and more
Intel (INTC)... semiconductors
Adobe Systems (ADBE)... computer software
Match (MTCH)... online dating
Interactive Brokers (IBKR)... online brokerage
Activision Blizzard (ATVI)... video games
Churchill Downs (CHDN)... horse racing and gambling
Madison Square Garden (MSG)... sports and concerts
Vail Resorts (MTN)... ski resorts
Hyatt Hotels (H)... hotels
Marriott (MAR)... hotels
McDonald's (MCD)... burgers, chicken nuggets, fries
Fiat Chrysler Automobiles (FCAU)... cars and trucks
Honda Motor (HMC)... cars and trucks
Toyota Motor (TM)... cars and trucks
Royal Dutch Shell (RDS-A)... oil giant
Rayonier (RYN)... timberland
Deere (DE)... tractors and farming equipment
Owens Corning (OC)... roofing and insulation
Consolidated Edison (ED)... utilities
Exelon (EXC)... utilities
Cigna (CI)... health insurance
Becton Dickinson (BDX)... needles and syringes

NEW LOWS OF NOTE LAST WEEK

GGP (GGP)... mall REIT
JC Penney (JCP)... retail "old guard"
Nordstrom (JWN)... retail "old guard"
Under Armour (UAA)... sports apparel
CBS (CBS)... television
Viacom (VIAB)... television

Source: Daily Wealth
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