One of nine sectors moved higher on Thursday…XKP, XLB, and XLE were
the strongest sectors…XLY was the
weakest sector.
Breadth weakened…decliners led advancers…1.52
to 1 on the NYSE and 1.33 to 1 on the NASDAQ…
Thursday
– weakened, decliners led
Wednesday – weakened,
advancers led
Tuesday – strengthened,
advancers led
Monday – weakened,
decliners led
Friday – strengthened,
advancers led
SPY
down .78 at 165.34…volume 109.8 million shares
VIX
up .26 at 13.07…
TNX
down .78 at 18.65…
TLT
up 1.22 at
118.56...
XLF
down .13 at 19.69…volume 37.5 million shares
AAPL
up 5.73 at
434.58…volume 21.5 million shares
FB
down .47 at 26.13…volume 35.4 million shares
Technical Commentary:
QQQ – 0.11%, DIA – 0.22%, IWM – 0.25% and
SPY - 0.47%.
Fed indicates again that asset
purchase may be tapered off in coming months gave some traders a catalyst to
sell as the broad market pulled back after achieving resistance breakout
targets on Wednesday. .
SPY pulled
back at its S&R measuring price target of 165.87.
DIA pulled
back at its S&R measuring price target of 152.80.
QQQ stayed
just above its S&R measuring price target of 73.46.
IWM pulled
back at its 161 Fib breakout target of 97.90.
QQQ led the
other ETFs on Thursday lagging due to strength in AAPL +5.73 which formed
a a piercing line candle in its bull flag pattern following its 80 point rise
from April 19 to May 7.
CSCO, NTAP and FFIV
led the NDX on Thursday. CSCO
gapped up after earnings and JCP was down in after-hours trading. TSLA gapped up after pulling back on
Tuesday and Wednesday to a higher low.
The Euro moved up 3 pips to 1.2883. TNX interest rates dropped and TLT
bonds rose.
It’s time to move stops up to protect profits as traders stay with the trend.
Trade what you see on the chart of your position. The intermediate term trend is up with a horizontal resistance breakout setup. Traders should lock in profits when targets
are reached. As always look
for re-entry according to your rules.
Chart Signals Strategy Guidelines
Technical setups for
short-term option trades be in and out by earnings release.
Over earnings release use earnings option strategies such as straddles, strangles, OTM calls
or puts.
After earnings look for
bullish setups in positive reaction stocks and bearish setups in negative
reaction stocks.
EPS Reaction Summary
EPS Gainers – CSCO, A, MCP, WCRX, NVDA, PCLN, GMCR, GRPN,
TSLA, EA, DVA, WFM, CTSH, DTV, LBTYA, AIG, ADP, CBOE, REGN, FB,
BZH, EXPD, GM, MDC, STX, V, YELP, ICE, JRCC, VIAB, CMCSA, DDD,
AVP, HLF, CERN, CVX, DHI, TWC, ANGI, AKAM, ALXN, ALTR, BIIB, COG,
CLF, CROX, DOW, ESI, FFIV, HOG, LRCX, LVS, MO, PHM, RCL, SIAL, XLNX, BA,
BRCM, GLW, HES, DAL, COH, DD, NFLX, ILMN, VECO, LCC, RF, ZION, TRV, LMT,
CAT, CHKP, HAL, HAS, CMG, GOOG, KMB, STI, MSFT, BTU, PEP, UNP, VZ, MAT,
AXP, JNJ, INTC, KO, C, APOL
EPS Losers – DISH,
XRAY, ATVI, RAX, MNST, Z, LNKD, TPX, ZAGG, CTRX,
GRMN, MRK, SWI, AMZN, BIDU, CRUS, DECK, EXPE, HSY, KLAC, MXIM, QCOM,
PTEN, ABC, MMM, AMGN, T, JNPR, PNRA, VMW, GE, IBM, ISRG, MCD, MS,
PM, UNH, SNDK, EBAY, BAC, USB, GS, LLTC
Key Earnings this week:
The Market Forecast Green Line is
in the Upper Zone.
____________________
Setups
H Breakout: ADSK, CRM,
Diagonal Breakout: FB,
ANGI, WLT,
Bull Flag: AAPL, AMAT,
AMGN, AMZN, ATVI, BBBY, CELG, CMCSA, COST, DELL, ESRX, FAST, MAT, ROST, SBUX,
SHLD, TXN, WFM, WYNN, ALK, ANGI, ATI, BAC, C, CLF, CMG, CNX, DDD, FAS, FSLR, LVS,
SSYS, ZION
Potential Bullish Divergence:
Gap Up:
Gap Down:
Bear Flag:
At Support: NUAN, ANR,
GLD, UNG, YELP,
Moves
New Highs: MSFT, MU,
MYL, NTAP, GRPN, STI, UAL,
Gap Up: CSCO, FFIV, CRM,
JNPR, TSLA,
Gap Down: AMD,
H&D Breakout: FFIV,
GRMN, BBRY,
Bounce: TLT,
MACD Divergence Bounce:
Bear Flag:
Support Break:
______________________
22 of 100 NDX stocks closed higher
on Thursday…one was unchanged…
Leading NDX 100 stocks included: CSCO, NTAP, FFIV, GOLD, CTXS,
MU, GRMN, AAPL, ORCL, ADSK, VOD, MSFT
Lagging NDX stocks included:
CELG, EXPE, REGN, ALXN, YHOO, GILD, FOSL, AKAM, AMGN, SIRI, STRZA, FAST,
Leading stocks > +2% on Thursday included: TSLA, CIEN, JDSU, RVBD, JNPR, CRM, VMW
Lagging stocks < -2.0% included: TSL, SSYS, NTES, TPX, DECK, MCP, CLF,
NFLX, LDK, TBT, NKE, AKS, BBRY
Stocks to Watch on Friday
Holding Above 30 DMA= 84
ADP, GILD, BIIB, MAT, PAYX, YHOO,
SBAC, MSFT, SRCL ,REGN, VOD, BBBY, LIFE, ROST, WYNN, DLTR, INTC, DTV, NWSA,
SBUX, VRTX, WFM, COST, WDC, AKAM, AMAT, GOOG, NVDA, SIAL, SIRI, STX, TXN, BMC,
BRCM, CA, ALXN, ESRX, ORLY, PCAR, XLNX, CERN, CMCSA, FOSL, KLAC, LINTA, MCHP,
XRAY, VRSK, AAPL, CHKP, ORCL, SHLD, VIAB, EQIX, VMED, LBTYA, CELG, EXPD, GRMN,
LLTC, MYL, PCLN, ADI, ADSK, MU, NTAP, SPLS, ALTR, BIDU, HSIC, FISV, SNDK, AVGO,
EBAY, FFIV, AMZN, ATVI, CSCO, FAST, QCOM, PRGO, MNST, MDLZ, DISCA
Moving Above 30 DMA = 1
CTXS
Moving Below 30 DMA = 5
ADBE, AMGN, EXPE, SYMC, STRZA
Staying Below 30 DMA
MXIM, FB, GOLD, ISRG, CHRW, CTRX,
NUAN, CTSH, DELL, INTU
Five Month Intermediate Term Market Trend: Up
Short Term Market Trend: Up
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