Three sectors moved higher on Thursday with XLY, XLU and XLB were the strongest sectors …. XLE was the weakest sector….
Breadth weakened however advancers still led decliners…1.05 to 1 on the NYSE and
decliners leading advancers 1.05 to 1 on the NASDAQ…
Thursday – weakened, advancers led
Wednesday – strengthened, advancers led
Tuesday – strengthened, advancers led
Monday – weakened, decliners led
Friday – strengthened, advancers led
SPY down .30 at 151.61...volume 126.8 million
shares…
VIX up .78 at 15.51
TNX down .15 at 18.88…
TNX down .15 at 18.88…
TLT up 22 cents at 118.51…
XLF down 3 cents at 17.59…volume 62.3 million shares
XLF down 3 cents at 17.59…volume 62.3 million shares
AAPL down 3.17 at 441.40…volume 11.5 million shares…
FB up 38 cents at`27.25…on volume of 83 million
shares…
Technical Commentary:
The SPY rose 96 cents and exceeded Monday’s high (resistance) by one cent before selling
pressure took over and the SPY closed down 30 cents on Thursday. Traders that sold
at the resistance target were rewarded again.
IWM +0.19% closed higher on Thursday while SPY -0.20%, QQQ -0.21% and DIA -0.23% moved
lower with all four ETFs forming potential shooting star candles.
AAPL -3.17
continued to trade above its
recent low of 435 made on Jan 25. FB rose 38 cents formed a white hammer like candle while continuing to form
a potential MACD bullish divergence.
The Euro gave back Wednesday’s gains falling 82 pips to close near its multi-month support at 1.3056 on Thursday.
Trade what you see on the
chart of your position. Many stocks reached resistance
targets on Thursday. The trend is in
consolidation and traders should lock in profits when targets are reached.
The SPY’s
is neutral trend as XLY led sector and shifted to strong neutral. XLB continues negative; XLE, XLF,
XLI, XLY and XLK are neutral with XLP, XLU and XLV positive. XLE, XLF, XLI, XLK, XLP, XLV and XLB formed
potential shooting star patterns.
The Market
Forecast Green Line is pointed up below the upper reversal zone.
____________________
Setups
Breakout: TSCO, AIZ, WHR, VMI, JPM, CRR, CPA, MDRX, CBOE, MWV, TXN,
MCHP, ATVI, TW, CLB, ORLY
Diagonal Breakout: CSTR, ICE, BBRY, PBI, HES, GME, SINA, CTXS,
Bull Flag: PM, GNC, P, KORS, ADM, STRZA, NTES, JDSU,
SPWR, AVP, GES, IM, AVX, MJN, PRGO
Potential Bullish Divergence: FB, BBRY, EQIX, ACI, ANR
Gap Up: CRM
Gap Down:
Bear Flag: LVS, CTL, RAX,
SWKS, NBR, PPO, AVGO, ROST, WDC, STX, DNDN, DDD, MGM, A, LIFE, GRMN, NDSN, DDS,
IPI, POT, MOS, MON, AGU, CORN, DE, CCL, SLB, STI, EXPD, WFM, SIRI, FOSL
Break of Support: AMZN, HSP, CNX, OC, JRCC, QCOM, PAY
Moves
Highlights: NFLX, NTES,
TPX, BBRY, FB, P, ANGI,
Gap Up: CLR, PCLN, CWH, ZNGA
Gap Down: GRPN, JCP, NIHD, CVC, FSLR, GTI, CRI,
Breakout: TPX, LNKD, AWAY, AMGN, STZ, FIVE, FTNT, HPQ, COG,
Bounce: Z, NFLX, HLF, AIZ, BPOP,
ANGI, SHLD, MDRX, FAST, CBG, CNW, AOL, TEX, ZION, PTEN, IBM, XRX, FTI,
VMI, PMCS,
MACD Divergence Bounce: CTSH, ORCL, VECO,
STX, RCL, WHR
Bear Flag: TFM, ULTA,
AKAM
Support Break: FFIV, WLT,
BTU, CLF, INT
____________________
42 of 100 NDX stocks
closed higher on Thursday…one
remained the same…
Leading NDX 100 stocks included: MYL, ESRX, MU,
CELG, LBTYA, MNST, EXPD, LINTA, BIDU, AVGO, FFIV, ADSK,FB, REGN, VMED
Lagging NDX stocks included: ISRG, SHLD, CTRX,
GOLD, NTAP, ORCL, FAST, ALTR, PCLN, GRMN, CMCSA, PRGO, STRZA, ADBE
Leading stocks> +2% on Thursday included: HLF, VECO, GMCR, NFLX
Lagging stocks < -2.0% included: GRPN,
ESI, RVBD, CSTR, ANR, JDSU
Stocks to Watch on Friday…
Holding Above 30 DMA = 53
VMED, ADI, LLTC, DELL, NWSA, AMAT, CHKP, FAST, MCHP, SNDK, STRZA, ADP, SYMC,GILD, HSIC, ATVI, CERN, GOOG, ORLY, BIIB, MAT, PAYX, PRGO, YHOO, ALTR, DLTR, CTRX, ESRX, MNST, AMGN, DISCA, MU, SBAC, TXN, ADBE, BRCM, CELG, CMCSA, FISV, INTU, NVDA, QCOM, KLAC, MSFT, MYL, PCAR, SRCL, VRTX, XLNX, MDLZ, LBTYA, VRSK, WDC
VMED, ADI, LLTC, DELL, NWSA, AMAT, CHKP, FAST, MCHP, SNDK, STRZA, ADP, SYMC,GILD, HSIC, ATVI, CERN, GOOG, ORLY, BIIB, MAT, PAYX, PRGO, YHOO, ALTR, DLTR, CTRX, ESRX, MNST, AMGN, DISCA, MU, SBAC, TXN, ADBE, BRCM, CELG, CMCSA, FISV, INTU, NVDA, QCOM, KLAC, MSFT, MYL, PCAR, SRCL, VRTX, XLNX, MDLZ, LBTYA, VRSK, WDC
Moving Above 30 DMA = 1
SIAL
Moving Below 30 DMA = 5
CA, ISRG, PCLN, SHLD, SPLS
Staying Below 30 DMA
CTXS, LINTA, MXIM, VIAB,
ADSK, CSCO, EBAY, FFIV, NTAP, XRAY, AMZN, AVGO, BBBY, CTSH, EQIX, FOSL, GRMN,
LIFE, ORCL, ROST, SIRI, COST, WYNN,
EXPE, SBUX, STX, VOD, WFM, EXPD, DTV, NUAN, AKAM, GOLD, BMC, CHRW, BIDU, ALXN,
FB, INTC, REGN, AAPL
Four Week Intermediate
Term Market Trend: Neutral
Short Term Market Trend: Up
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