Only one of nine sectors moved higher on Friday… XLB, XLK and XLI were the
strongest sectors…XLY was the weakest sector.
Sector Posture – seven sectors are positive
Positive trend: XLB, XLE, XLF, XLK, XLP,
XLV, XLY
Neutral trend near resistance:
Neutral trend near
support: XLI, XLU
Breadth weakened as decliners led advancers 1.98 to 1 on the NYSE and 2.10 to 1 on the NASDAQ.
Friday – weakened, decliners led
Thursday – weakened,
decliners led
Wednesday – weakened,
mixed
Tuesday – strengthened,
advancers led
Monday – weakened,
decliners led
SPY down .93 at 197.72 on 76.8 million shares, below average volume
VIX up .85 at 12.69…
TNX down .40 at 24.69…
TLT up 1.35 at 115.67...
XLF down .13 at 22.89 on 36.3 million shares
AAPL up .64 at 97.67 on 43.4 million shares
FB up .21 at 75.19…on 45.9 million shares
Technical Commentary:
QQQ – 0.39% SPY
– 0.47%, DIA – 0.75%, IWM
– 0.91%.
The SPX continued its recent
sideways consolidation for a third week.
The SPX traded in
a 25 point range and closed just +0.12 at
1978.34, its second highest weekly close every. The NDX traded in a 79 point range and closed
up +25.27 at 3965.16, a new bull market
weekly high.
(click image to enlarge)
NDX gains came from AAPL, AMGN,
BIDU, BIIB, CTXS, FB, ISRG and YHOO.
(click image to enlarge)
Next week there are several economic announcements
including the FOMC meeting on Tuesday and Wednesday with announcement
expected Wednesday at 2 pm ET. GDP Q2
will be out Wednesday at 8:30 am ET.
The Unemployment report for July will be out Friday morning 8:30
am.
Trade with the trend of
the chart you are trading and continue to move your profit protection
stops. Continue to follow
your rules.
Short-term up trend Chart
Targets:
SPY = 198.12, 199.06…
QQQ = 96.31, 97.52, 98.28
IWM = 116.46, 119.09…
Support Levels
SPY = 196. 59, 194.13,
193.11…
QQQ = 93.57, 91.73,
90.44…
IWM = 114.66, 113.16…
Earnings this week:
Monday – CMI, TSN,
WYNN, JEC, HLF
Tuesday – AET,
AKS DLR, FISV, GLW, HCA, MDC, YNDX, AMGN, AXP, BWLD, CHRW, ESRX, MAR, MRK,
PFE, SLCA, X, UPS, VRTX
Wednesday – GRMN,
HES, AEM, AKAM, CTRP, EQIX, KRFT, LRCX, MTW, WDC, WFM, YELP
Thursday – DDD,
BZH, CL, COP, DTV, XOM, ESI, RYL, TEVA, TWC, EXPE, LNG, LNKD, MA, MCHP, SPWR,
TSLA, TRLA
Friday – CBOE,
CVX, HLT, PG, BRK.A
Earnings week in
review:
Monday – HAL, HAS, PETS, STI, CMG, NFLX, STLD, TXN, ZION
Tuesday – ATI, MO, KO, CMCSA, DD, HOG, KMB, LXK, LMT, MCD, BTU, RF, STT, TRV, UTX, VZ, AAPL, BRCM, EA,
HTZ, ISRG, JNPR,
LLTC, MSFT, NBR,
VMW, XLNX
Wednesday – APD,
BIIB, BA, CHKP, DAL, DOW, FTI, GD, NSC, RHI, WHR, ANGI, T, CA, CRUS, CTXS, ETFC, FFIV, FB, FCX,
GILD, ILMN, NXPI, ORLY,
QCOM, TSCO, TRIP
Thursday – MMM, ALK,
ALXN, BMY, CAT, CELG, DNKN, F, GM, DHI, JBLU, LLY,
LUV, NOK, NUE, OSTK,
POT, PHM, SIAL, NDAQ,
UA, UNP, UAL, AMZN,
BIDU, DECK,
KLAC, MXIM, P,
SBAC, SWI, SBUX,
SRCL, TPX, V, VRSN
Friday – MCO, SWK,
STO, WLB, XRX
Q2 Earnings Reactions
Positive Reactions –
CMG, BIIB, ISRG, SWI, UA, VRSN, AAPL, APD, CA, CHKP, CMCSA, CTXS, DAL, DECK, DOW,
FFIV, FB, FTI, GD, LXK, LMT, NBR, NDAQ, NOK, OSTK, ORLY, PETS, RHI, STLD, SWK, TSCO,
TXN, WHR, XRX, ZION, BX, C, GOOGL, GS, HON, INTC, KSU, JPM, PM, SCSS, SWKS, URI, AA,
STZ, APOL, BKS, KBH, MON, MU, NKE, SCHN
Negative Reactions – ALK,
ALXN, AMZN, ANGI, ATI, BA, CAT, CELG, DHI, DNKN, EA, ETFC, FCX, GM, HOG, ILMN, JNPR,
KLAC, KMB, KO, LLTC, MCD, NFLX, P, PHM, QCOM, SBUX, STI, STO, T, TPX, TRIP, TRV,
UTX, V, XLNX, AMD, BAC, BHI, JCI, JNJ, LVS, MAT, SLB, SNDK, STX, USB, YHOO, FAST,
FDO, CAMP, BBBY, GIS, CCL, WAG
Reversal in progress – GIS,
WAG,
Reversal of Initial
Reaction – BBBY, YHOO, APOL, KBH, MON,
The SPY Market Forecast green line is in the upper zone at 90.
____________________
Setups
Horizontal Breakout: BBRY,
NKE, QIHU, SCTY, TLT, CRM, CMCSA,
Diagonal Breakout: IWM,
CELG, MU,
Bull Flag:
SPY, BX, C, FAS, KNDI, MS, SWKS, FB, GILD, GOOG, ILMN, INTC, MSFT, STX,
Potential Bullish
Divergence: CSIQ, JASO, JDSU,
Gap Up:
Gap Down:
Bear Flag: MNST, ROST,
At Support: SUNE, CREE,
ADSK, TXN,
C- Pattern:
Moves
New Highs: CTRP, QIHU,
RCL, Z, AAPL, CTSH, CTXS, NTAP, HPQ,
H Breakout: CTRP, UAL,
AAPL, HPQ,
Diagonal Breakout:
Bull Flag Bounce:
Gap Up: SWI, VRSN, BIDU,
SWK, DECK, TLT, ZION,
Gap Down: MXIM, P,
AMZN, TPX, V, STO, KLAC,
Breakout Test: DAL,
Bounce:
MACD Divergence Bounce:
GLD,
Bear Flag:
Support Break: AIG, ETFC,
AVGO,
C- Pattern:
______________________
26 of 100 NDX stocks
closed higher on Friday and two were unchanged.
Leading NDX 100 stocks included: BIDU, CERN, VOD, CHKP, CELG, CTXS, APPL
Lagging NDX stocks included: MXIM, AMZN, AVGO, NXPI, TSCO, BRCM, AMA, ADI,
TXN, SBUX, KLAC
Leading stocks > +2% on Friday
included: SWI, VRXN,
Z, CTRP, KNDI, UAL, RCL, QIHU, SOHU, KKD
Lagging stocks < -2.0% included:
P, TPX, V, SWKS, YNDX
Stocks to Watch on Friday
Holding Above 30 DMA= 60
CHRW,
SIAL, MU, CHTR, ADP, EQIX, ATVI, CSCO, ADBE, INTU, MSFT, BIDU, CMCSA, GOOG,
SBUX, INTC, STX, WDC, LMCA, SYMC, DTV, VRTX, FISV, GILD, SBAC, MDLZ, NTAP,
EBAY, VRSK, COST, PCAR, PAYX, DISCA, CTRX, FB, BBBY, MYL CERN, SIRI, AAPL,
CELG, CTSH, EXPD, EXPE, MAR, REGN, ALXN, AMGN, CTXS, FFIV, PCLN, VOD, WYNN,
BIIB, CHKP, ISRG, CA, ORLY, TSCO, YHOO
Moving Above 30 DMA = 0
Moving Below 30 DMA = 8
ADSK,
AMZN, BRCM, DLTR, HSIC, KLAC, LINTA, SPLS
Staying Below 30 DMA
AVGO, DISH, ILMN, QCOM, TRIP, ALTR,
GMCR, KRFT, LLTC, NXPI, TXN, VIAB, XLNX, AMAT, NFLX, SRCL, LBTYA, NVDA, VIP,
SNDK, AKAM, FOXA, MAT, MNST, TSLA, ADI, ROST, GRMN, FAST, MXIM, WFM, ESRX
Sixteen Week
Intermediate Term Market Trend: Up
3-Day Short Term Market
Trend: Up
