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12/23/2016 Investment House Daily
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Investment House Daily Subscribers:
MARKET ALERTS:
Targets hit: None issued
Entry alerts: KERX
Trailing stops: None issued
Stop alerts: None issued
The market alert service is a premium level service where we issue intraday
alerts relating to the general market conditions, when stocks hit action
points (buy, stop, target, etc.), and when we see other information
impacting the market or our stocks. To subscribe to the alert service you
can sign up at the following link:
http://www.investmenthouse.com/alertdaily.html
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The REPORT SCHEDULE is as follows:
Market Summary Video, Plays and Play Videos, and Play Tables with play
annotations will issue Monday, Wednesday and the Weekend.
Tuesday and Thursday reports will contain the market summary, chart links to
view the index charts, and updated play tables.
Access to all current videos will remain assessable each day using the play
links in the reports.
If any market circumstances arise where we see additional plays we want to
prepare for the next session, we will of course issue those plays regardless
of the day of the week.
MARKET SUMMARY
- Modest rise but no late Santa or December run.
- Indices still working on patterns, SOX breaks higher again.
- Leaders status quo though chips rise and money moves toward smaller
biotechs.
- New Plays for Tuesday
There was no next-to-last week rally in the stock market in 2016. It
remains to be seen if the 'in-between' week from Christmas to New Year's
brings more year end cheer.
SP500 2.83, 0.13%
NASDAQ 15.27, 0.28%
DJ30 14.93, 0.07%
SP400 0.24%
RUTX 0.65%
SOX 0.53%
Not that the session was bad. As noted, all indices closed higher, but,
with the exception of SOX and its prior breakout, they did not breakout from
their consolidations. They did put in some decent work on the lateral
moves, particularly SP400 and RUTX, but that is about all. Again, it
remains an open question whether they will rally next week in to year end
with high bullishness and the indices sitting on highs.
To view charts, click on link or paste URL into browser.
http://investmenthouse1.com/ihmedia/f/charts/sp500.jpg
http://investmenthouse1.com/ihmedia/f/charts/NASDAQ.jpg
http://investmenthouse1.com/ihmedia/f/charts/DJ30.jpg
http://investmenthouse1.com/ihmedia/f/charts/RUTX.jpg
http://investmenthouse1.com/ihmedia/f/charts/SP400.jpg
http://investmenthouse1.com/ihmedia/f/charts/SOX.jpg
Many leaders held the line similar to the indices, not selling, not
advancing. Financial stocks still look good in their lateral move and
indeed C edged through the buy point but it was just barely moving and
volume was extremely low. Metals were not bad, the same as transports, oil,
internet, telecom leading groups.
One area that stood out were the smaller biotechs and indeed even some of
the larger names looked a bit better. BCRX surged 9%. KERX jumped 3.76%.
We are looking at a position in CRIS for Tuesday if it can continue its
move. MNKD is already on the report and has a very nice pullback to the 10
day EMA setting up its move.
Of course semiconductors were still solid with NVDA leading higher again and
some other familiar names, e.g. XLNX, joining it.
In sum, it was more of the same but less of the same. The indices are
holding their gains but were not breaking higher for the Santa Run.
With that action we left our positions to work as most of them are just fine
though some of the oil plays are testing support. We bought some KERX on a
nice price and volume upside break (volume was good given the session).
For next week we will see if the year end move gets better. Biotechs/drugs
are getting some money so we like our BCRX and KERX positions, and are
watching MNKD and EXAS to see if they break higher. We are also putting on
CRIS as a play for next week. Then we spend next week hopefully playing a
run higher and also watching where money may be moving toward new areas
similar to what the smaller biotechs are showing right now That way we can
get a head start on the new year by observing where the money appears to be
heading, getting a bit of an early jump so to speak.
New Plays:
CRIS: Working higher in an 18 month base. After the surge higher in
September to October, CRIS has used the 50 day MA as support. It bounced
off that level this week then spent Wednesday and Thursday testing. Friday
it started back upside, and if that move continues we want to move in for
another solid upside run.
EARNINGS: 2-2 before
ENTRY: 3.47
TARGET: 4.32
POSITION: Stock
http://investmenthouse1.com/ihmedia/f/charts/cris.jpg
IMMU: Forming a handle in a nice 7 month double bottom with handle base.
Classic action with volume dying down during the middle of the base,
building as it moved up the right side, then tapering next to nothing as it
has faded back to form the handle over the 20 day EMA. Good volume levels
on average, great pattern. A good break higher that holds the move is our
entry signal.
EARNINGS: 2/1 after
ENTRY: 3.86
TARGET: 4.98
POSITION: Stock
http://investmenthouse1.com/ihmedia/f/charts/immu.jpg
Have a great Christmas, Hanukkah, holiday, or whatever suits you!
MARKET STATS
NASDAQ
Stats: +15.27 points (+0.28%) to close at 5462.69
Volume: 1.182B (-25.27%)
Up Volume: 735.42M (+168.27M)
Down Volume: 365.76M (-604.23M)
A/D and Hi/Lo: Advancers led 2.18 to 1
Previous Session: Decliners led 1.86 to 1
New Highs: 87 (-52)
New Lows: 34 (-24)
S&P
Stats: +2.83 points (+0.13%) to close at 2263.79
NYSE Volume: 515M (-28.94%)
A/D and Hi/Lo: Advancers led 1.46 to 1
Previous Session: Decliners led 1.39 to 1
New Highs: 81 (-13)
New Lows: 24 (-3)
DJ30
Stats: +14.93 points (+0.07%) to close at 19933.81
SENTIMENT INDICATORS
VIX: 11.44; +0.01
VXN: 13.24; -0.18
VXO: 11.09; 0
Put/Call Ratio (CBOE): 0.86; -0.03
13 of 39. Interestingly, put activity lightened a bit on a downside
session. Put activity has picked up the past week as big funds are buying
downside protection at these last new highs.
Bulls and Bears: Bulls slowed the ascent, up just 0.2 but that much closer
to 60.0. 60 to 65 have signed off on many a market correction since 1998.
Effectively there, so have to watch the technical indications. Bears rose
back up to 19.6 where they were 3 weeks back.
Bulls: 59.8 versus 59.6
Bears: 19.6 versus 19.2
Theory: When everyone is bullish and has put all their capital to work,
where does the ammunition to drive the market come from? There is always
new money to start a new year. After that is used will more money be
coming? That is the question.
Bulls: 59.8 versus 59.6
59.6 versus 58.8 versus 56.3 versus 55.6 versus 51.0 versus 42.9 versus 41.7
versus 47.1 versus 42.9 versus 46.1 versus 46.7 versus 45.2 versus 44.6
versus 49.0 versus 52.5 versus 55.9 versus 56.7 versus 56.2 versus 54.3
versus 52.9% versus 53.9% versus 54.4% versus 52.5% versus 47.1% versus
41.6% versus 47.5% versus 45.9% versus 47.3% versus 45.4% versus 35.4%
versus 40.2 versus 39.2
Bears: 19.6 versus 19.2
19.2 versus 19.6 versus 22.3 versus 21.6 versus 23.5 versus 25.7 versus 24.3
versus 23.1 versus 23.8 versus 23.1 versus 22.8 versus 23.1 versus 24.3
versus 22.6 versus 22.8 versus 20.6 Versus 20.2 versus 20.0 versus 20.9%
versus 21.2% versus 21.6% versus 23.3% versus 24.7% versus 24.5% versus
23.8% versus 23.2% versus 23.5% versus 23.8% versus 23.7% versus 24.0%
versus 21.7% versus 21.6% versus 21.7 versus 20.6% versus 21.7% versus 27.8%
versus 27.8% versus 28.9% versus 27.8% versus 30.3% versus 35.4%
OTHER MARKETS
Bonds (10 year): 2.54% versus 2.55%
Historical: 2.54% versus 2.54% versus 2.564% versus 2.544% versus 2.59%
versus 2.59% versus 2.52% versus 2.473% versus 2.475% versus 2.471% versus
2.40% versus 2.349% versus 2.39% versus 2.396% versus 2.394% versus 2.454%
versus 2.388% versus 2.30% versus 2.31%. versus 2.36% versus 2.355% versus
2.317% versus 2.30% versus 2.34% versus 2.297% versus 2.219% versus 2.22%
versus 2.23% versus 2.14% versus 2.077% versus 1.867% versus 1.83% versus
1.778% versus 1.81% versus 1.797% versus 1.827% versus 1.83% versus 1.85%
versus 1.84% versus 1.791% versus 1.76% versus 1.76% versus 1.73% versus
1.75% versus 1.74%
EUR/USD: 1.0451 versus 1.04368
Historical: 1.04368 versus 1.04412 versus 1.0392 versus 1.0407 versus 1.0459
versus 1.0415 versus 1.05094 versus 1.0636 versus 1.06326 versus 1.05586
versus 1.06140 versus 1.07745 versus 1.07194 versus 1.07614 versus 1.06638
versus 1.06631 versus 1.0601 versus 1.0649 versus 1.05699 versus 1.066
versus 1.05910 versus 1.05519 versus 1.0672 versus 1.06265 versus 1.0587
versus 1.0650 versus 1.07026 versus 1.0725 versus 1.07492 versus 1.0858
versus 1.08898 versus 1.09398 versus 1.10186 versus 1.10327 versus 1.11406
versus 1.11059 versus 1.11020 versus 1.10560 versus 1.09646 versus 1.09860
versus 1.08963 versus 1.0895 versus 1.08793 versus 1.08793 versus 1.08851
versus 1.0928 versus 1.0971 versus 1.0977 versus 1.10217
USD/JPY: 117.32 versus 117.537.
Historical: 117.537 versus 117.544 versus 117.835 versus 117.453 versus
117.941 versus 118.257 versus 117.397 versus 115.038 versus 115.058 versus
115.20 versus 114.23 versus 113.325 versus 113.993 versus 113.601 versus
113.52 versus 113.945 versus 114.19 versus 112.685 versus 112.44 versus
111.835 versus 113.14 versus 112.445 versus 111.129 versus 110.809 versus
110.905 versus 110.240 versus 109.07 versus 108.164 versus 107.455 versus
106.621 versus 106.814 versus 105.192 versus 101.286 versus 104.386 versus
103.112 versus 102.96 versus 103.350 versus 104.042 versus 104.798 versus
104.710 versus 105.305 versus 104.412 versus 104.2110 versus 104.331 versus
103.83 versus 103.99 versus 103.99
Oil: 53.02, +0.07. Managed to hold the breakout into Christmas.
Gold: 1133.60, +2.90.
SUPPORT AND RESISTANCE
NASDAQ: Closed at 5462.69
Resistance:
Support:
The November all-time high at 5404
The 2016 trendline at 5389
5340 is the September and October 2016 twin peaks
The 50 day EMA at 5338
The 50 day SMA at 5305
5287.61 is the September 2016 high
5271.36 is the August 2016 intraday prior all-time high
5231.94 is the 2015 all-time high
5170 is the October intraday low.
5162 is the early November peak, 5176 is the December intraday peak
5100 from the April peak and early May peak
The 200 day SMA at 5080
5042 is the March 2015 high
5008.57 is the early March 2015 post-bear market high
5007 is the 12/31 upper gap point from that big gap lower
4999 is the October upper gap point
4980 is the June 2016 peak
4969 is the April 2016 recovery high
4960 is the September 2015 intraday high, an important reversal point for
NASDAQ.
4920 is the lower gap point from mid-October 2015, the January 2016 lower
gap point
4916 is the mid-November 2015 low
4899 - 4902 from the September 2015 peak, July 2015 low
4894 is the September 2015 closing high
S&P 500: Closed at 2263.79
Resistance:
Support:
The 10 day EMA at 2257
The 2016 trendline at 2232
The November 2016 all-time high at 2213.25
The 50 day EMA at 2205
2194 is the August 2016 prior all-time high
The 50 day SMA at 2185
2175 is the June 2016 high
2135 is the May 2015 all-time high
The 200 day SMA at 2132
2130 is the June 2015 peak
2126 was the April 2015 prior all-time high
2120 is the June 2016 peak
2119 is the September 2016 low; February 2015 intraday high
2116 is the November 2015 high
2111 is the April 2016 recovery high
2104 is the December 2015 high
2094 is the December 2014 high
2079 is the intraday all-time high from November 2014
2062 is the January 2015 lower high
2046 is the July 2015 closing low
2040 is the March 2015 closing low
2026 is the May 2016 low
2023 is the November 2015 low
2020 is the September 2015 intraday high
2011 is the September prior all-time high
1995 is the September 2015 recovery peak
1991 is the July 2014 high
Dow: Closed at 19,933.81
Resistance:
Support:
The 10 day EMA at 19,834
The 20 day EMA 19,613
The 50 day EMA at 19,130
The 50 day SMA at 18,904
18,669 is the August 2016 all-time high
18,595 is the July 2016 peak
18,351 is the prior all-time high from May 2015
18,288 from March 2015
18,262 is the upper gap point from the Monday gap lower.
18,247 is the August 2016 low
The 200 day SMA at 18,247
18,168 is the April 2016 recovery high
18,100 to 18,181: interim peaks in the December 2014 to July 2015 range
18,016 is the June 2016 peak
17,992 is the early September low
17,978 is the November 2015 peak
17,960 is the October intraday low
17,600 is the rough bottom of the April to June range.
17,351 is the September 2014 all-time high.
ECONOMIC CALENDAR
December 23 - Friday
Michigan Sentiment -, December (10:00): 98.2 actual versus 98.2 expected,
98.0 prior
New Home Sales, November (10:00): 592K actual versus 573K expected, 563K
prior (no revisions)
December 27 - Tuesday
Case-Shiller 20-city, October (9:00): 5.1% prior
Consumer Confidence, December (10:00): 109.8 expected, 107.1 prior
December 28 - Wednesday
MBA Mortgage Index, 12/24 (7:00): 2.5% prior
Pending Home Sales, November (10:00): 0.1% prior
Crude Inventories, 12/24 (10:30): 2.256M prior
December 29 - Thursday
Initial Claims, 12/24 (8:30): 263K expected, 275K prior
Continuing Claims, 12/17 (8:30): 2036K prior
International Trade , November (8:30): -$62.0B prior
Natural Gas Inventor, 12/24 (10:30): -209 bcf prior
End part 1 of 2
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