Trading SPX Bull Market High...Forex Euro Moves Higher...

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Five of nine sectors moved higher on Friday.  XLK, XLV and XLU were the strongest sectors.

On Friday the SPX eclipsed its old bull market high of 1,363.61 made on Apr 26, 2011 and made a New Bull Market High Close at 1365.74.  The INDU dipped while the COMPQ and NDX both made a Bull Market New High Close on Friday.  The RUT also dipped and is now the remaining broad index still below its Bull Market High Close made Apr 29, 2011 at 865.29.   

AAPL, AMZN, BIDU, GOOG and PCLN rose as NFLX and QCOM moved lower.

Money Flow

Euro   +79 pips  1.3447

TNX     -0.07        19.77

TLT     +0.76      117.50

XLF     -0.05         14.67

SPX    +2.28   1,365.74

VIX     +0.51        17.31

NDX +0.36%

COMPQ +0.23%

SPX +0.17%

INDU -0.01%

RUT -0.28%

Money Flow was slightly atypical as the Euro moved higher and TNX and XLF  moved lower.  The SPX and bonds TLT moved higher.  The VIX also moved higher.  The most recent SPX breakout has an intermediate term chart target of 1,428 within 12 weeks of the breakout.

The VIX did not confirm the SPX move on Friday.

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Breadth weakened as advancers led decliners 1.19 to 1 on the NYSE and decliners led 1.22 to 1 on the NASDAQ.

Exchange        NYSE       NASDAQ

Advancers       1,632          1,142

Decliners         1,362          1,401

The Euro continued to rise on Friday moving towards its 1.3534 chart target from its Jan 24 horizontal resistance breakout.  This breakout chart target also aligns with old resistance from Dec 1.

 ANR, CLF, PCX bounced up from support while CRM gapped up and DECK and CROX gapped down.

Bull Flag Setups to watch on Monday – CREE, JDSU, GES, GRMN, ESI, MTW, COH, NVDA, CIEN, NFLX, RCL, GMCR, ENTR

 (click image to enlarge)

Leading stocks > +2% on Friday included CRM, ANR, UCO, CRUS, CLF, ESI, NTES, ZAGG, CSTR, PCX

Losing stocks < -2.0% included DECK, TSL, MCP, CROX, CDE, KKD, TSLA, RCL

NDX 100 stocks stronger than the NDX included SHLD, CTRP, SIRI, MNST, FOSL, CTSH, AKAM, CTXS, MU and FISV.

Stocks weaker than the NDX include FSLR, MRVL, AVGO, GMCR, CMCSA, WCRX, KLAC, ADSK, EA and ALXN.

Three NDX stocks CTSH, MU and SIRI closed above the 30 DMA and two stocks EXPD and MRVL closed below making 74 NDX stocks above their 30 DMA.

Stocks to Watch on Monday

Holding Above 30 DMA = 63

WDC, CMG, DOW, ENTR, FAS, SWK, NKE, CRUS, SMH, SWKS, JDSU, NGLS, BAC, CF, CHL, STI, A, C, CAT, TPX, ESI, KKD, CREE, GS, HLF, LNKD, LVS, SLW, CSTR, VECO, COH, CRM, FFIV, SLB, INFA, NTES, NVDA, SWI, VMW, IBM, ZAGG, TSLA, LDK, GES, JNPR, V, ICE, ZION, NDAQ, TIF, RVBD, SWN, UCO, ANF, CDE, DHR, MOS, POT, HAL, DLR, SNDK, URE

Moving Above 30 DMA = 3

CIEN, GLW, UNP

Moving Below 30 DMA = 4

CROX, DECK, MCP, TBT

Staying Below 30 DMA

TSL, F, HUM, RCL, ARUN, SINA, UAL, WLT, DE, CLF, FCX, IL, X, GRPN, ANR, PCX, SOHU, AKS, TLT, ATI, FAZ

Four Month Intermediate Term Market Trend: Up

Short Term Market Trend: Up