Friday, May 27, 2016

SPY New High Close at Horizontal Resistance...

Eight of nine sectors moved higher on Friday…XLF, XLK and XLY were the strongest sectors while XLB was the weakest sector.  Oil futures rose .16 to close at 49.56.

For the week ended May 20, XLK +3.21%, XLF +2.59%,
led SPY +2.31% 
Lagging sectors XLV +2.14%, XLY +2.08%, XLB +1.94%, XLI +1.64%,XLP +1.61%, XLE +1.47%, XLU +1.12%,

YTD 102
Leading Sectors: XLU +12.82%, XLE +11.29%, XLB +8.66%, XLI +5.51%, XLP +4.97%,
SPY +3.12%,

Lagging Sectors: XLK +2.97%, XLY +1.48%, XLF -0.08%, XLV –1.18%, 


Breadth strengthened as advancers led 2,044 to 990 on the NYSE and led 1,751 to 824 on the NASDAQ.

Friday – strengthened, advancers led
Thursday - weakened, advancers led on NYSE
Wednesday – weakened, advancers led
Tuesday – strengthened, advancers led
Monday – weakened, advancers led on NASDAQ


SPY up .90 at 210.24 on 64.2 million shares, 20% below average volume
VIX down .31 at 13.12
TLT down .19 at 129.85…on 5.2 million shares, 23% below average volume


Technical Commentary:
IWM +1.00%, QQQ +0.52%, SPY +0.43%, DIA +0.24%,









Earning’s Announcements:
Positive Reactions:  ULTA, VEEV

Negative Reactions: PANW, GME

Technical analysis based trades should be closed before earnings.

Trade what you see, not…

Stocks below support should generally be traded bearishly until a reversal pattern forms.


______________________

Strong Stocks: Setups and Moves You Can Use
Bull Flag Setups include:  











______________________
                                                                                                                                    
Short-term Movers:
SPX gainers:  HPE, HPQ, SWN, ULTA, CHK, DG, ADM, CNC, WYNN, MON, XRX, SPLS, LM, LB, PDCO, AAP, IVZ, PVH, EQIX, NAVI, RIG, TDC, LKQ, FLR, EQT, MCO, GLW, DNB, ABBV, FLS, BEN, WRK, HST, AN, DVN, ROK, URI, CMI, RHT, M, ABT, APC, HES, MCPH, PHM, MUR, AMG, WFC, SYF, ETFC, ADS, PH, IP, COF, HAL, BS, SCHW, CMA, NUE, 4
SPX losers:  SIG, ROP, NEM, MPC, 4

NDX gainers:  DLTR, MU, WDC, VIAB, ULTA, NFLX, INCY, BIDU, LRCX, AMAT, BIIB, VRTX, STX, XLNX, CTRP, ADS, ALXN, AAPL, NTES, DISH, DISCA, CELG, ATVI, AKAM, INTU, INTC, NTAP, COST, AVGO, PAYX, AMGN, BBBY, TRIP, TXN, NXPI, PCAR, MAT, LMCA, GILD, MYL, YHOO, LLTC, GOOGL, EA, NVDA, ORLY, JD, CSCO MXIM, ADBE, ADI, MSFT, MDLZ, BMRN, TSCO, VOD, ADP, EBAY, SWKS, 3
NDX losers:  CHTR, 3

YTD:
SPX Leaders:  SWN, NEM, OKE, RRC, FCX, MLM, EQT, WYNN, NRG, MUR (326, +27 > 10p 171, +49)
SPX Losers:  HRB, PRGO, MPC, CF, LB, ABC, GPS, TSO, AGN, FSLR

NDX Leaders:  NVDA, AMAT, ULTA, CHTR, PCAR, MAT, ISRG, KHC, DLTR, FISV (49, +11)
NDX Losers:  ENDP, LMCA, STX, VRTX, REGN, AAL, WDC, ILMN, JD, ALXN

DJI Leaders:  XOM, WMT, UNH, CVX, MMM, IBM, JNJ, VZ, PFE, MRK (20, +3)

DJI Losers:  GS, BA, NKE, INTC, AXP, MSFT, AAPL, DIS, GE, JPM


Remember:  “It’s a market of stocks, not just a stock market.”

Trade with the trend of the chart you are trading and continue to move your profit protection stops.  Continue to follow your rules.

The SPY MFC green line pointed up at 68, bullish.


84 of 100 NDX stocks closed higher and one was unchanged on Thursday.

74 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 10
ADP, ADSK, AMGN, BIDU, CTRP, EBAY, MYL, ORLY, STX, YHOO

Moving Below 30 DMA = 1                                                                        
CHKP

6-month Intermediate Term Market Trend: Neutral
3-day Short Term Market Trend: Up

Thursday, May 26, 2016

QQQ, SPY Inch Higher Near Resistance on Light Volume...

Five of nine sectors moved higher on Thursday…XLU, XLP and XLK were the strongest sectors while XLB was the weakest sector.  Oil futures fell .34 to close at 49.40.


Breadth weakened as advancers led 1,576 to 1,458 on the NYSE and decliners led 1,419 to 1,122 on the NASDAQ.

Thursday - weakened, advancers led on NYSE
Wednesday – weakened, advancers led
Tuesday – strengthened, advancers led
Monday – weakened, advancers led on NASDAQ
Friday – strengthened, advancers led


SPY up .06 at 209.34 on 55.2 million shares, 31% below average volume
VIX down .47 at 13.43
TLT up .67 at 130.04…on 5.4 million shares, 21% below average volume


Technical Commentary:
QQQ +0.29%, SPY +0.03%, DIA -0.11%, IWM -0.11%,

SPY closed at 209.34 its third highest dividend adjusted closing high ever.

QQQ led the broad indexes with gains in DLTR, COST, YHOO, MU, NFLX, TSLA, NTES, AKAM, and CTXS.

SPY, QQQ IWM and DIA all continue above their 30 DMA. 

XLK, XLB, XLV and XLF are the strongest sectors leading SPY +2.52% over the past five days.



Earning’s Announcements:
Positive Reactions:  DLTR COST, CPRT, LGF, HPQ, PDCO, DG, PVH, IGT
Negative Reactions: SIG, SDRL,  


Technical analysis based trades should be closed before earnings.

Trade what you see, not…

Stocks below support should generally be traded bearishly until a reversal pattern forms.


______________________

Strong Stocks: Setups and Moves You Can Use
Bull Flag Setups include:  TSN, GLPI, SYY, GD, SWKS, WMB, CTXS, REGN, ZION, STI, JPM, BAC, C, ADSK, BMRN, CERN, CHKP, MSFT, NXPI, XLNX, VMW, CMG,

Bull Flag Bounces include:  PPC, NTES, WM,

Horizontal Breakout Setups include: DIA, XLI, XLF, FAS, XLB, PCAR, OKE, SCHN, FCX, CE, ZION, SWN, TSCO, ORCL, UTX, FLIR, NUE, STLD, ADP, MAT, LUK, JEC, CLR, JNJ, CNP, ATVI, EA, BSX, YELP, AMZN, FMC, WWAV, XEC, ADI, RSPP, WRK, CRZO, MS, CMCSA, MXIM, AVGO, MU, TXN, AXP

Horizontal Breakout include: ALB, TMUS, FTNT, AGN,


______________________
                                                                                                                                    


Remember:  “It’s a market of stocks, not just a stock market.”

Trade with the trend of the chart you are trading and continue to move your profit protection stops.  Continue to follow your rules.

The SPY MFC green line pointed up at 57, bullish.


54 of 100 NDX stocks closed higher and one was unchanged on Thursday.

65 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 3
COST, DLTR, LMCA

Moving Below 30 DMA = 1                                                                        
SYMC

6-month Intermediate Term Market Trend: Neutral
3-day Short Term Market Trend: Up


Wednesday, May 25, 2016

Rally Continues on Strength in Energy, Materials and Financials...

Eight of nine sectors moved higher on Wednesday…XLE, XLB and XLF were the strongest sectors while XLU was the weakest sector.  Oil futures rose .64 to close at 49.74.


Breadth weakened as advancers led 2,052 to 965 on the NYSE and led 1,608 to 968 on the NASDAQ.

Wednesday – weakened, advancers led
Tuesday – strengthened, advancers led
Monday – weakened, advancers led on NASDAQ
Friday – strengthened, advancers led
Thursday - weakened, decliners led


SPY up 1.41 at 209.28 on 93.5 million shares, 10% below average volume
VIX down .47 at 13.95
TLT down .49 at 129.86…on 5.9 million shares, 7% below average volume


Technical Commentary:
DIA +0.80%, QQQ +0.72%, SPY +0.68%, IWM +0.58%,


SPY, IWM, DIA and QQQ continued to move higher on Wednesday.  SPY exceeded its May 10 high and touch its April 28 high today.

SPY, QQQ IWM and DIA are all above their 30 DMA today. 

XLF, the financial sector continued to move higher as the third strongest sector on Wednesday. 



The price bounce has occurred and it is time to be bullish.


Technical analysis based trades should be closed before earnings.

Trade what you see, not…

Stocks below support should generally be traded bearishly until a reversal pattern forms.


______________________

Strong Stocks: Setups and Moves You Can Use
Bull Flag Setups include:  TSN, GLPI, PPC, SYY, GD, SWKS, WMB, CTXS, NTES, REGN, WM,

Bull Flag Bounces include:  LUK, JEC, ALB, CLR, JNJ, CNP, OKE,

Horizontal Breakout Setups include: DIA, XLI, XLF, FAS, XLB, PCAR, ORCL, UTX, FLIR, NUE, STLD, ADP, MAT, LUK, JEC, ALB, CLR, JNJ, CNP, ATVI, EA, BSX, YELP, AMZN, VMW, CMG, VTR, FMC, WWAV, XEC, ADI, RSPP, WRK, CRZO, TMUS, FTNT, AGN, BAC, C, MS, CMCSA, MXIM, AVGO, MU, TXN, AXP

Horizontal Breakout include: XLV, XLE, OKE, CA, A, AAPL, EGN, ZION, STI, SWN, JPM, MRO, BAC, C


Bullish Divergence Bounce include: SCHN, FCX,


______________________
                                                                                                                                    


Remember:  “It’s a market of stocks, not just a stock market.”

Trade with the trend of the chart you are trading and continue to move your profit protection stops.  Continue to follow your rules.

The SPY MFC green line pointed up at 44, bullish.


72 of 100 NDX stocks closed higher on Wednesday.

63 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 9
AAPL, ALXN, CELG, DISH, FAST, ILMN, MSFT, SYMC, ULTA

Moving Below 30 DMA = 2                                                                        
CTRP, YHOO

6-month Intermediate Term Market Trend: Neutral

3-day Short Term Market Trend: Up

Tuesday, May 24, 2016

Divergence Bounce, Low Volume Pause, High Volume Bounce...Stocks Surge Led by Technology, Financials, Healthcare...

All nine sectors moved higher on Tuesday…XLK, XLF and XLV were the strongest sectors while XLE was the weakest sector.  Oil futures formed a bullish engulfing candle following Friday’s hammer candle while moving .99 higher to close at 49.10.

Breadth strengthened as advancers led 2,377 to 702 on the NYSE and led 2,023 to 565 on the NASDAQ.

Tuesday – strengthened, advancers led
Monday – weakened, advancers led on NASDAQ
Friday – strengthened, advancers led
Thursday - weakened, decliners led
Wednesday – strengthened, mixed


SPY up 2.66 at 207.87 on 93.5 million shares, 14% above average volume
VIX down 1.40 at 14.42
TLT down .58 at 129.86…on 5.9 million shares, 12% below average volume


Technical Commentary:
IWM +2.06%, QQQ +2.00%, SPY +1.30%, DIA +1.19%,

SPY, IWM, DIA and QQQ had MACD bullish divergence bounce on Friday, low volume pause day on Monday and a high volume bounce continuation move on Tuesday.  Just as we stated in Monday’s post, “Modest pullbacks on light volume are generally bullish,” turned to be exactly right.

SPY, QQQ and IWM closed above their 30 DMA today.  QQQ and IWM broke through horizontal resistance and SPY is a horizontal resistance breakout setup. 

XLF, the financial sector was the second leading sector on Tuesday as MCO, NDAQ, SCHW, ETFC, SLM LM, IVZ, TROW, ICE, BEN, PFG, AMP, UNM, KEY, MS, STT, FII, BLK, AXP, JPM, C, ZION, STI, BAC and WFC moved higher.


The price bounce has occurred and it is time to be bullish.


Earning’s Announcements:
Positive Reactions:  CTRP, NDSN, TOL

Negative Reactions: BBY 


Technical analysis based trades should be closed before earnings.

Trade what you see, not…

Stocks below support should generally be traded bearishly until a reversal pattern forms.


______________________

Strong Stocks: Setups and Moves You Can Use
Bull Flag Setups include:  LUK, JEC, TSN, GLPI, ALB, CLR, PPC, SYY, GD, JNJ, CNP, OKE

Bull Flag Bounces include:  ATVI, EA, CA, BSX, FB, FISV, MNST, NOC, LMT, A, CL, HLF, STWD, WM, YELP, AMZN, EGN, JNJ, VMW, DLR, RSPP, WRK, CLB, CRZO

Horizontal Breakout Setups include: XLB, ATVI, EA, CA, BSX, MNST, NOC, A, STWD, EGN, JNJ, VMW, NWL, CMG, VTR, XLB, FMC, WWAV, XEC, AAPL, ADI, TMUS, XLE, ZION, STI, WMB, MRK, SWN, FTNT, AFL, AGN, MRO, JPM, BAC, C, MS, CMCSA, MXIM, AVGO, MU, TXN, FLIR, SWN, AXP

Horizontal Breakout include: SVXY, QQQ, IWM, XLK, FAS, ETFC, NTES, XYL, DD, AKAM, BMRN, MAT, ADBE, CTXS, REGN, NXPI, NFLX, SWKS, WDC, LRCX, QCOM, WFM

Bullish Divergence Bounce include: DIA, XLP, XLV, XLI, XLF, PCAR, ORCL, UTX, EW, FLIR, NUE, STLD, ADP


Bullish Divergence Setups include: SCHN, FCX


______________________
                                                                                                                                    


Remember:  “It’s a market of stocks, not just a stock market.”

Trade with the trend of the chart you are trading and continue to move your profit protection stops.  Continue to follow your rules.

The SPY MFC green line turned up at 33, bullish.


98 of 100 NDX stocks closed higher on Tuesday.

56 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 18
ADI, BIIB, BMRN, CHKP, CTRP, ESRX, EXPE, GOOG, HSIC, INTC, LRCX, MAT, MDLZ, PAYX, SIRI, VIAB, VRSK, YHOO

Moving Below 30 DMA = 0                                                                        


6-month Intermediate Term Market Trend: Neutral
3-day Short Term Market Trend: Up

Monday, May 23, 2016

SPY, QQQ Inches Lower on Light Volume...MU, NFLX, WDC, SWKS, AAPL, AVGO Rise...

Two of nine sectors moved higher on Monday…XLB, XLP and XLF were the strongest sectors while XLU was the weakest sector.  Oil futures formed a hammer candle while moving lower .37 to close at 48.11.


Breadth weakened as decliners led 1,541 to 1,499 on the NYSE and advancers led 1,378 to 1,213 on the NASDAQ.

Monday – weakened, advancers led on NASDAQ
Friday – strengthened, advancers led
Thursday - weakened, decliners led
Wednesday – strengthened, mixed
Tuesday – weakened, decliners led


SPY down .28 at 205.21 on 58.6 million shares, 28% below average volume
VIX up .62 at 15.82
TLT up .29 at 130.44…on 6.9 million shares, 3% above average volume


Technical Commentary:
DIA +0.01%, IWM -0.12%, QQQ -0.13%, SPY -0.14%,

SPY and QQQ moved slightly lower on below average volume following Friday’s MACD bullish divergence bounce.  Modest pullbacks on light volume are generally bullish.

XLF, financial sector closed two cents lower as GS, C, ICE, SPG, MS, CME and AIV moved higher.



It is important to be defensive until a price bounce occurs.

Technical analysis based trades should be closed before earnings.

Trade what you see, not…

Stocks below support should generally be traded bearishly until a reversal pattern forms.


______________________

SStrong Stocks: Setups and Moves You Can Use
Bull Flag Setups include:  ATVI, EA, CA, BSX, FB, LUK, FISV, JEC, MNST, NOC, LMT, TSN, GLPI, NEM, A, ALB, CL, CLR, HLF, PPC, STWD, SYY, WM, YELP, AMZN, EGN, GD, JNJ, AEM, CNP, OKE, VMW,

Bull Flag Bounces include:  DLR, NWL, CMG, RSPP, WRK, CLB, CRZO, VTR,

Horizontal Breakout Setups include: SVXY, XLB, ETFC, NTES, FMC, WWAV, XEC, XYL, DD,  AAPL, ADI, AKAM, BMRN, MAT, TMUS, XLE, ZION, STI, WMB, MRK, SWN, FTNT, AFL, ADBE, AGN, CTXS, REGN, MRO, JPM, NXPI, BAC, C, MS, CMCSA,

Horizontal Breakout include: NFLX, MXIM, SWKS, WDC, AVGO, MU, LRCX, QCOM, TXN, WFM,

Bullish Divergence Bounce include: FCX, SWN, SPY, IWM, QQQ, FAS, XLB, AVGO, AXP,

Bullish Divergence Setups include: DIA, XLP, XLV, XLI, XLK, PCAR, ORCL, UTX, EW, FLIR, NUE, STLD, SCHN, XLF, ADP

______________________
                                                                                                                                    

Remember:  “It’s a market of stocks, not just a stock market.”

Trade with the trend of the chart you are trading and continue to move your profit protection stops.  Continue to follow your rules.

The SPY MFC green line turned down at 25, defensive, if short-term support is broken then bearish.


39 of 100 NDX stocks closed higher and one was unchanged on Monday.

38 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Tuesday:
Moving Above 30 DMA = 4
AVGO, NFLX, REGN, WDC

Moving Below 30 DMA = 7                                                                        
BMRN, CHTR, ESRX, EXPE, HSIC, SIRI, ULTA

6-month Intermediate Term Market Trend: Neutral
3-day Short Term Market Trend: Neutral