The crude maintained a slight rise in the expectation of the cuts announced for early 2017. We continue to monitor the actions of the energy sector in our watchlist: USE (US OIL Fund), APA, MRO, PBR, SDRL and FCX. We expect oil prices show a more than $ 55 per barrel to consider a new position in this sector rebound. We will remain vigilant and inform you.
The X steel and iron CLF had a small setback. The thesis of rising raw material prices remains, although some analysts believe that such projections are part of current stock prices related to this sector. CLF has failed to exceed $ 9.5, however, has shown strong support in the area of $ 8.65 to $ 8.75. We remain optimistic that CLF exceed $ 10 in the next two weeks.
Gold has been rising, as we mentioned in our previous report. We maintain our forecast that in the short term, probably from the first week of January, we will begin to see a shift downward trend. We will be preparing to take short positions and increase our portfolio with an entry in NUGT, or AEM.
The solar sector ceded much of what recovered in the last two weeks. FSLR fell to $ 32.5 then recover up to $ 34. We see strong resistance near the $ 35, a fact that keeps us alert for a potential short entry (pointing to generate profits while the stock falls in price). TSLA, was the big surprise of the week. After securing an agreement for a credit line 500 million and announce the expansion of its battery plant in conjunction with Panasonic, TSLA broke the $ 214 upward. We will be very attentive if you break the resistance of $ 220.
The Nasdaq was the star with AAPL, AMZN, AMD, TSLA, and NFLX NVDA showing upward trend. ¡¡¡NVDA rose so fast that we can not get a position in time !!! Already at this point it is expected to have a correction before moving up. AAPL has yet to prove if he breaks the $ 117 or the trend is reversed. So far the iPhone 7 has not shown enough strength to bring the stock above $ 120. We'll be alert.
BABA, one of our recommendations, fails to take off. However, we remain very optimistic about his recovery. There are several reasons to expect a rise in BABA within highlighting its expansion and diversification in high growth areas such as digital web hosting, financial transactions, etc.
Little activity in the financial sector. We see that financial can turn around at any time and suffer a correction. We will be monitoring GS, C, BAC, JPM.
In the pharmaceutical sector, ICPT showed no abrupt changes. MED and CELG have been added to our watchlist.
CMG Chipotle Mexican Grill remains near $ 400, important value that can define what their future trend. CMG we see as a potential entry once exceed $ 400 and consolidated.
Our team of traders are constantly monitoring the market, preparing for the next recommendation.
Actions we are watching closely: APA, CLF, NUGT, MRO, TWTR, FCX upward; FSLR, AAPL, potentially TSLA down. We will keep you abreast of any relevant information that affects our watch list or open positions during the week.