ChartSmarter Monday Game Plan 11/9/15

Markets ended Friday capping off 6 week winning streaks with the Nasdaq gaining 1.8% and the S&P 500 by 1%. The Nasdaq closed near session highs Friday, up .3%, and for the second straight session bounced off the round 5100 number. During this winning streak the tech heavy Nasdaq has advanced an impressive 660 handles. YTD is has now risen 8.7% and looks to be carving out a bullish cup with handle trigger of 5164. The S&P 500 is clinging onto its own round number of 2100 and thus far in 2015 has gained 2%. It has repeatedly found resistance at the 2130 figure this year in May-July and will a fourth attempt to break through be the charm? The big news of the day was how well the job report before the open Friday was received. Sectors that embraced the data were the financials, across the board. Brokers, banks and insurers all thrived on the assurance with such a rosy message that an interest rate in December may be a certainty. On the contrary utilities were slaughtered Friday with the XLU falling 3.5% and registering its third consecutive weekly loss with volume gaining with each successive week. That move was preceded by a 6 week winning streak for the fund between the weeks ending 9/11-1/16 which advanced 9%. Not one of those 6 weeks however occurred in above average weekly trade. With wage gains a big part of this mornings report perhaps we can see the retail group being to perk up even further. One name we liked for a trend change, which has been a perennial laggard, was BBBY. Below is how the name was presented in our Wednesday 11/4 Game Plan. Friday the stock recorded only its second 3 week winning streak of the year. Stay long with CLOSES above the round 60 figure.