Two of nine sectors moved higher on Friday…XLU, XLE and XLI were the strongest sectors …XLK was the weakest
sector….
Breadth weakened… decliners
led advancers …1.09 to 1 on the NYSE and 1.46 to 1 on the NASDAQ…
Friday – weakened, decliners led
Thursday – strengthened – advancers led
Wednesday – weakened – decliners led
Tuesday – strengthened – decliners led
Monday – weakened, decliners led
SPY down 70 cents at 155.16...volume 159.6 million shares…
VIX up .03 at 13.92…
TNX down .65 at 16.94…
TNX down .65 at 16.94…
TLT up 2.43 at 122.82…
XLF down 6 cents at 18.03 volume 59.7 million shares
XLF down 6 cents at 18.03 volume 59.7 million shares
AAPL down -4.52 at 423.20…volume 13.7 million shares…
FB up 32 cents at`27.39… volume 64.5 million
shares…
Technical Commentary:
IWM -0.02%, DIA -0.32%, SPY -0.45% and QQQ
-0.83% all gapped
lower at the open following the Jobs Report of 88,000 new jobs below
expectation of 200,000 new jobs. Minutes
after the open buyers took control and prices rose with each ETF forming a
large white candle. Airline stocks ALK, UAL, LUV, DAL,
and LCC which bounced on Thursday gapped lower and formed white candles closing
near Thursday’s close.
AAPL down 4.52 dropped to
its March 4 low before bouncing at support and forming a hammer
candle pattern. FB up 32 cents on
a strong 64.5 million shares of volume bounced and closed above its 30 DMA for the second straight day. FB gave a C pattern entry on
Thursday.
The Euro was
up 56 pips and closed at 1.2989 on Friday.
Trade what you see on the
chart of your position. The trend is up
and traders should lock in profits when targets are
reached. As always look for re-entry according to your rules.
The SPY touched near its March 19 low on Friday and
bounced closing in the middle of its four week sideways range of 153.59 to
157.21. Chart Signals continues to
be short-term neutral on the SPY until a break of support or resistance levels
of the past three weeks.
FFIV -19.03% dropped on Friday following a warning it will miss Q2
expectations.
YELP +8.58% jumps after GOOG sells Frommer's to its original founder.
AA reports earnings after the close on
Monday which is the unofficial start of earnings season.
The Market
Forecast Green Line is in the
upper zone.
____________________
Setups
Breakout: AOL, CHTR
Diagonal Breakout: MTW,
SBUX, CIEN, IBM, BBRY, NFLX, CLB, GNC, A, CPRT
Bull Flag: ADBE, CMCSA, WDC, ADP, BIIB, CELG, CERN, COST,
LBTYA, LIFE, MAT, MDLZ, NUAN, NWSA, PAYX, VOD, YHOO, ADSK, BBBY, BMC, DELL,
DLTR, DTV, GILD, MU, SHLD, SNDK, VRTX, WYNN, CREE, CSTR, HRB, WSM, ALK, UAL, DAL, LCC, HSY, LVS, TSLA,
APOL, DISH, SPLK, SLM, CBS, MTW, MWV,
NAV, MBI, ZION, DWA, PLCM, NKE, AWAY, MDRX, WPO, PBI,
TFM, DECK, CBI, MU,
Potential Bullish
Divergence: KLAC, CTXS, FDS, BTU, JOY, KORS, RCL, FDS, GOOG, MCP, IPI
Gap Down:
Bear Flag: DE, NDAQ,
JRCC, ULTA
Break of Support: CLF,
ANR
Moves
Highlights: NFLX, NTES,
TPX, CREE, SSYS, ANGI, Z, BBRY
Gap Up: UNG
Gap Down: FFIV, GPN, DAL
Breakout: PVH, DDS, CTL, ALXN, CMCSA, HLF, GNC, ILMN, ADBE, CMP, MON,
RMD, OGE,
Bounce: COG, UPL, XCO, NBR, WPX, SWN, HBI, PTEN, GRPN,
CIE, Z, WAG, DDD, NUS, CLB, AOL, CHTR, MSFT, DISCA, STRZA, VIAB, WFC, A, ZNGA, DECK, GES
MACD Divergence
Bounce: CCL, EXPD, JCP, SINA, CCL, FB, SLB
Bear Flag: ORCL
Support Break: CTSH,
A, FTNT, RAX, AGU,
IPI, WLT, CORN, MCP, JDSU
____________________
23 of 100 NDX stocks
closed higher and one was unchanged… on Friday
Leading NDX 100 stocks included: STRZA, NVDA,
EQIX, CHKP, FB, DISCA, GOLD, CHRW, NWSA, EXPE
Lagging NDX stocks included: FFIV, STX, SHLD,
CSCO, PAYX, SPLS, WDC, ALTR, ADBE, BIDU
Leading stocks> +2% on Friday included: YELP, GRPN, UNG, ANR, STI, TLT
Lagging stocks < -2.0% included: SWI,
FIVE, TBT, CIEN, GMCR, JNPR, SINA, TSL, JDSU, RVBD, CDE
Stocks to Watch on Monday…
Holding Above 30 DMA = 49
VMED,
NWSA, SNDK, STRZA, ADP, DELL, SYMC, GILD, HSIC, CERN, BIIB, MAT, PAYX, PRGO,
YHOO, DLTR, AMGN, MU, DISCA, SBAC, ADBE, CELG, FISV, MSFT, SRCL, VRTX, MDLZ,
LBTYZ, VIAB, REGN, SBUX, BMC, VOD, ALXN, BBBY, SHLD, DTV, LIFE, STX, COST,
CMCSA, NUAN, ROST, ATVI, CHRW, WDC, EBAY, MNST, FB
Moving Above 30 DMA = 1
EQIX
Moving Below 30 DMA = 6
CSCO, NTAP, ORLY, PCLN, SPLS, VRSK
Staying Below 30 DMA
QCOM, WYNN,
ADSK, AVGO, ESRX, GOOG, INTC, INTU, PCAR, TXN, CTRX, GILD, MXIM, XRAY, ALTR,
AMAT, AMZN, BRCM, CA, LLTC, MCHP, NVDA, SIAL, WFM, XLNX, ADI, AAPL, LINTA,
FAST, MYL, ORCL, CTSH, CTXS, EXPE, FOSL, SIRI, CHKP, KLAC, ISRG, FFIV, GRMN,
EXPD, AKAM, BIDU
Twenty Week Intermediate
Term Market Trend: Up
Short Term Market Trend:
Neutral
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