All nine sectors moved lower on Friday…XLU, XLE and XLV were the strongest sectors and XLY was the weakest.
Breadth weakened as decliners led advancers 4.11 to 1 on the NYSE and 3.61 to 1 on the NASDAQ.
Friday - weakened, decliners led
Thursday – weakened, decliners led
Wednesday – strengthened, advancers led
Tuesday - mixedMonday – weakened, decliners led
SPY down 2.42 at 207.95 on 191.1 million shares, 80% above average volume
VIX up 1.29 at 13.89…
TNX down .28 at 18.50…
TLT up 1.49 at 131.45…
XLF down .32 at 24.13 on 39.8 million shares, 39% above average volume
AAPL down 1.42 at 124.75 on 51.9 million shares, 13% above average volume
FB down 1.53 at 80.78…on 24.2 million shares, 3% above average volume
SPY -1.15%, QQQ -1.56%, DIA -1.58%%, IWM -1.62%.
SPY closed below 208.61 short-term support.
QQQ closed below 106.82 short-term support.
IWM closed above its 123.77 short-term support.
U.S. markets moved lower with weakness in Asia and Europe following news that China trading rules were being changed to allow short-selling on Chinese stocks.
FXI -4.21% was down after gaining 29% over the past five plus weeks.
Bloomberg terminals were affected by a worldwide outage on Friday illustrating once again the susceptibility that electronic markets have when technology glitches. Traders were forced to use telephones and email in a back to the future reprise.
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 Chart Targets:
SPY = 208.95, 210.33...
QQQ = 106.95…
IWM = 125.55…
SPY = 207.01, 205.39...
QQQ = 105.55, 104.50…
IWM = 123.77, 122.90...
Earnings Week of April 6 – AA, BBBY, WBA, STZ
Earnings Week of April 13 – JNJ, JPM, FAST, WFC, INTC, BAC, CSX, DAL, LLTC, SNDK, NFLX, GS, C, AXP, MAT
Q1 Earnings Reaction
Positive Reactions – WBA, STZ, KMX, DGLY, CTRP, JUNO, KBH, MFRM, NKE,
More than 10% - DGLY, CTRP, JUNO,
Negative Reactions – AA, BBBY, MU, GME, YOKU, XONE,
More than -10% - YOKU,
Reversal in progress –
Reversal of Initial Reaction – GME, MU, YOKU, XONE
The SPX Market Forecast is pointed down at 74.
11 of 100 NDX stocks closed higher on Friday.
Leading NDX 100 stocks included: MAT, MYL, STX, NFLX, WDC, ALTR, TSCO, BIDU, SIAL, TSLA
Lagging NDX stocks included: VIP, CHKP, VRTX, ROST, YHOO, WBA, CTSH, AVGO, AMZN, ADBE
Leading stocks > +2% on Friday: VXX, EMC
Lagging stocks < -2.0% included: MTW, CMGE, VSLR, GOGO, SSYS, QIHU, TSL, FAS, SPLK, DGLY, XONE, CSIQ, GME, CRM, SLCA, NTES, SWI, PANW, X, FEYE, SOHU, LOCO, RAX, TWTR, MBLY, BABA, ETFC, P, AMBA, JNPR, JD, YELP, SUNE, SCSS
Stocks to Watch on Monday
Holding Above 30 DMA = 41
WBA, LVNTA, SIAL, KRFT, ORLY, ADI, ALTR, VRSK, XLNX, CTRX, ESRX, ISRG, MDLZ, VIP, CTXS, DISCA, TSLA, MYL, AMGN, CMCSA, DTV, NFLX, PCLN, SBUX, VRTX, YHOO, GILD, PCAR, VIAB, ALXN, STX, TSCO, VOD, MAT, AKAM, CSCO, ILMN, INTC, MU, WDC, SYMC
Moving Above 30 DMA = 0
Moving Below 30 DMA = 24
AAPL, ADSK, AMZN, ATVI, BIIB, BRCM, CERN, CHKP, CHTR, CTSH, EA, FB, HSIC, MNST, MSFT, NTAP, NVDA, NXPI, REGN, SBAC, SIRI, SPLS, SRCL, TXN
Staying Below 30 DMA
BIDU, FAST, FISV, INTU, LMCA, WYNN, DLTR, ADBE, ADP, BBBY, CA, COST, AVGO, AAL, EXPD, ROST, PAYX, GOOG, CELG, CHRW, EBAY, FOXA, MAR, SNDK, TRIP, KLAC, LBTYA, LLTC, AMAT, GMCR, QCOM, DISH, LRCX, WFM, GRMN
6-month Intermediate Term Market Trend: Up3-day Short Term Market Trend: Down