All nine sectors moved higher on Friday with XLB, XLF and XLK the strongest sectors …. XLV was the weakest sector.
Breadth strengthened as
advancers led decliners…3.04 to 1 on the NYSE and
2.64 to 1 on the NASDAQ…
Friday – strengthened, advancers led
Thursday – strengthened, decliners led
Wednesday – weakened, decliners led
Tuesday - strengthened, advancers led
Monday – President’s Day
Holiday
SPY up 1.47 at 151.89...volume 106.3 million
shares…
VIX down -1.05 at 14.17…
TNX down -.09 at 19.67…
TNX down -.09 at 19.67…
TLT up 8 cents at 117.03…
XLF up 22 cents at 17.74…volume 43.3 million shares
XLF up 22 cents at 17.74…volume 43.3 million shares
AAPL up 4.75 at 450.81…volume 11.8 million shares…
FB down -15 cents at`27.13…on volume of 36.3
million shares…
Technical Commentary:
After a two day selloff many
stocks bounced on Friday creating a re-entry signal on many charts. Following the drop in selling pressure on Thursday buying pressure took
control on Friday. IWM +1.20%, QQQ +1.01%, SPY +0.98% and DIA
+0.94% creating bull flag entry
bounces.
AAPL shares moved up 4.75 forming a potential triple bottom. Some traders look to sell premium strategies
at this technical formation. FB moved down 15 cents made a similar low while continuing to form a potential
MACD bullish divergence.
The Euro rose 3 pips and closed at 1.3192 on Friday.
Trade what you see on the
chart of your position. Many stocks may have produced exit signals on Wednesday as many stocks began to rollover giving
traders reason to protect profits. If positions were exited, begin to look for
potential re-entry according to your rules.
While the
broad market is still in an intermediate term uptrend, the two day short-term
trend bounced up in its bull flag pattern on Friday creating a re-entry signal
into the trend.
WDC +0.36% is at support and STX +0.38% is forming a potential MACD bullish
divergence following its break of short-term support on Wednesday.
The Market
Forecast Green Line is in
the upper reversal zone.
____________________
Setups
Breakout: TXN, STZ, MCHP, ATVI, FIVE, TW, CLB, SHLD,
FTNT
Diagonal Breakout: BBRY, SLB, QCOM, CRM, PBI, ORLY, HES, NUS, GME, COST
Bull Flag: GS, SWK,
MAS, ZION, JDSU, STRZA, SINA, FOSL, MWV, TEX, CBG, GCI, BPOP, Z, C, TSCO, RSH, MDRX, PNC, CBOE, AMAT, SMH, PMCS, ESI, SPWR, AVX, AGO, GLW, CRR, ANR, AVP, ATI, CSTR, GES, IM,
ANGI, RL, DECK, CNW, 2 day – NFLX, MTW, FAST, NTES,
ALTR, MJN, PTEN, P, ADI, AOL, GNC, ATML, AGO, TIF, WBC, ADM, KORS,
GRPN, MBI, PRGO
Potential Bullish Divergence: FB, CTSH, ORCL, BBRY, BTU, EQIX, COST, VECO,
JNPR, FFIV, STX, RCL, ACI
Gap Up:
Gap Down:
Bear Flag: AMZN, HSP, TFM,
CTL, CPA, ULTA, STI,
Break of Support: WLT, NBR, AVGO, ROST, WDC, JRCC, DNDN, MGM, A, PCLN,
Moves
Highlights: CTXS, NFLX,
SINA, NTES, FSLR, WHR, TPX, BBRY, FB
Gap Up: WBMD, ARUN, HPQ, BLOX, FIRE, COG, GDI, AWAY
Gap Down: INT, NDSN,
Breakout: PM
Bounce: FAS, TXN, CERN, VIAB, LNKD, MCHP, CTXS, STZ, WYN, JPM, ICE, MS, CME, FIVE, ALB, ZNGA, XRX, ATVI, FTI, VMI, AIZ,
LVS, DPS, RMD, SWKS,
PAY, PPO, LIFE, OC, GRMN,
MACD Divergence Bounce: WHR,
Bear Flag: AKAM
Support Break: DE, CCL, CLF, RAX, IPI
____________________
86 of 100 NDX stocks
closed higher on Friday…
Leading NDX 100 stocks included: TXN, MU, SBAC,
SYMC, DTV, DISCA, LINTA, VRTX, AMAT, INTU
Lagging NDX stocks included: AKAM, ESRX, SIRI,
FB, NTAP, CMCSA, SHLD, GOLD, PRGO, AMZN
Leading stocks> +2% on Friday included: TPX, TSL, CROX, FAS, LS, SWKS, ZAGG, TSLA, CMG, CRUS, SWI, CIEN, GS
Lagging stocks < -2.0% included: ANF,
NFLX, FAZ, HUM, HLF, ANR
Stocks to Watch on Monday…
Holding Above 30 DMA = 43
VMED, ADI, LLTC, XLNX, DELL, NWSA, AMAT, KLAC, CHKP, FAST, MCHP, SNDK, STRZA, ADP, SRCL, SYMC, CA, CELG, GILD, HSIC, MDLZ, SPLS, ATVI, SHLD, MSFT, MYL, CERN, ISRG, GOOG, ORLY, BIIB, MAT, PAYX, CTXS, ADBE, PRGO, YHOO, ALTR, DLTR, CMCSA, CTRX, ESRX, MNST, AMGN
VMED, ADI, LLTC, XLNX, DELL, NWSA, AMAT, KLAC, CHKP, FAST, MCHP, SNDK, STRZA, ADP, SRCL, SYMC, CA, CELG, GILD, HSIC, MDLZ, SPLS, ATVI, SHLD, MSFT, MYL, CERN, ISRG, GOOG, ORLY, BIIB, MAT, PAYX, CTXS, ADBE, PRGO, YHOO, ALTR, DLTR, CMCSA, CTRX, ESRX, MNST, AMGN
Moving Above 30 DMA = 11
ADBE, BRCM, DISCA, INTU, LINTA, MU,
MXIM, NVDA, SBAC, TXN, VIAB
Moving Below 30 DMA = 0
Staying Below 30 DMA
ADSK, CSCO, EBAY, FFIV, NTAP,
PCAR, PCLN, QCOM, XRAY, AMZN, AVGO, BBBY, CTSH, EQIX, FOSL, GRMN, LIFE, ORCL,
ROST, SIAL, SIRI, VRSK, VRTX, WDC,
COST, WYNN, EXPE, SBUX, STX, MDLZ, VOD, WFM, EXPD, LBTYA, DTV, NUAN, AKAM,
GOLD, BMC, CHRW, BIDU, ALXN, FB, FISV, INTC, REGN, AAPL
Fourteen Week Intermediate
Term Market Trend: Up
Short Term Market Trend: Neutral
1 comment:
Dave:
Thanks
Robert
CANI_212
Post a Comment