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%,
Leading Sectors: XLU +12.82%, XLE +11.29%, XLB +8.66%, XLI +5.51%, XLP +4.97%,
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
IWM +1.00%, QQQ +0.52%, SPY +0.43%, DIA +0.24%,
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:
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
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
6-month Intermediate Term Market Trend: Neutral3-day Short Term Market Trend: Up