Euro, SPY, AAPL Pull Back, Hold Above Support, FB Rises on Last Day of Q 3......

Eight sectors of nine moved lower on Friday…XLU, XLF and XLP were the strongest sectors. 

Breadth weakened on Friday as decliners led advancers 1.55 to 1 on the NYSE and 1.87 to 1 on the NASDAQ… 

Exchange     NYSE    NASDAQ

Advancers    1,172         860
Decliners      1,823      1,611

SPY down 67 cents at 143.97...volume 150.7 million shares 
VIX up 0.89 at 15.73… 
TNX down -0.03 at 16.37…
TLT up 7 cents at 124.22…
XLF down 5 cents at 15.59… 

AAPL down -14.21 at 657.10…volume 19.1 million shares … 
FB up 1.34 cents at 21.66… volume 65.4 million shares…


The Market Forecast green line is pointed down out of the upper zone.


YTD At a Glance

                     September        YTD            August

Sector ETF

XLV                  +3.30%          +16.87%        +1.17%

XLB                  +3.23%          +10.88%        +2.32%

XLF                  +2.84%          +20.85%        +3.41%

XLY                  +2.72%          +20.72%        +4.62%

XLE                  +2.66%            +7.16%        +2.70%

XLK                  +1.10%          +21.98%        +4.20%

XLP                  +1.03%          +11.60%         -0.47%

XLI                   +0.47%            +9.24%        +1.54%

XLU                  -0.49%            +3.03%         -4.14% 

SPY                +1.99%           +15.82%        +2.51%

AAPL               +0.28%          +65.42%        +9.39%

EXPE             +12.62%         +100.76%        -9.66%

STX                  -3.28%           +92.30%        +7.67% 
VRTX               +4.80%          +68.29%        +9.94% 
GILD              +14.98%          +62.06%        +6.20% 
EBAY              +1.90%          +59.48%         +7.16% 


Technical Commentary: 
The Euro moved higher overnight but starting selling off near the open and closed near its low on Wednesday and Thursday in its bull flag pattern.  Interest rates fell slightly, as bonds drifted higher while XLF and SPY pulled back.  The VIX rose confirming the SPY pullback.

The Euro, SPY, IWM, DIA, QQQ and XLF are still in a bull flag and above support with Friday’s low above Wednesday’s low.  TLT is still in a bear flag pattern.  Remember, Monday’s have been a pause to weaker day over the past several weeks.

 

(click image to enlarge) 

Chart Targets:
SPY = 147.88 2.61 Fib 
ES = 1,466.00 2.61 Fib on ESZ2 
EUR/USD = 1.3095 1.60 Fib, 1.3345 S&R Measuring

Short-term support at 
143.09, 142.33 = SPY 
1,424, 1,417.50 = ES 
2,775, 2,762.25, 2,750 = NQ 

Setups:
Bull Flag: IWM, XLF, BAC, C, JPM, WFC, MS, STI, ZION, A, ANR, CLF, CMG, MCP, SOHU, SWK, TBT, TIF, BTU, WLT, JRCC, ACI, CA, FFIV, PNRA, QCOM, SHLD, PHM, EXPE, VRTX, PCLN, CIEN, JDSU, SINA, VMW, ATI, CRM, FAS, SHLD, FCX, GS

At Support: UAL, F, SWI, JNPR, ISRG, FAST, SRCL, XLNX, MCHP, EA, SIAL, NTAP, ICE, SOHU, AKS, GES, ATVI, CREE, TPX, MXIM, INTC, SLB

Gap Up: RIMM

Resistance BO:  CDE, GOLD, GRMN, LVS, WYNN

Bounce: FB, IBM, LNKD, INFY, ORCL, ALXN, BIDU, CERN, CTSH, CTXS, Z, NUAN, INFA, FISV 


31 of 100 NDX stocks closed higher on Friday…

Leading NDX 100 stocks included:  RIMM, CERN, BIDU, CTSH, INFY, CSCO, WCRX, MNST, ALXN, CTXS 

Lagging NDX stocks included: GMCR, STX, ESRX, AAPL, NFLX, FLEX, ALTR, FOSL, MRVL, INTC 

Leading stocks > +2% on Friday included: FB, ZAGG, COH, TSLA, NTES 

Lagging stocks < -2.0% included: LDK, CRUS, JNPR, JDSU, ANR, VECO, TPX, CIEN, WDC 

Stocks to Watch on Monday…
Holding Above 30 DMA = 34 
GS, RVBD, C, FAS, FCX, RCL, STI, BAC, CDE, SINA, ZION, LVS, LNKD, HUM, GLW, CMG, DE, DHR, IBM, SWK, V, FB, A CHL, GRPN, NTES, TLT, CRM, INFA, JDSU, SOHU, TIF, TSL, VMW 

Moving Above 30 DMA = 3
TSLA, UAL, ZAGG

Moving Below 30 DMA = 3
ATI, CLF, F

Staying Below 30 DMA 
MCP, SWI, ANR, ESI, ICE, MOS, SLB, TBT, ANF, CREE, CRUS, JNPR, URE, COH, CROX, NKE, TPX, VECO, CSTR, DECK, HLF, UCO, AKS, DLR, SMH, SWKS, X, WDC CIEN, GES, FAZ, LDK 

Fifteen Week Intermediate Term Market Trend: Up
Short Term Market Trend: Neutral