Seven of nine sectors moved higher on
Friday… XLE, XLV and XLI were
the strongest sectors…XLK was the
weakest sector.
Breadth weakened…advancers led decliners…1.04
to 1 on the NYSE and decliners led advancers 1.10 to 1 on the NASDAQ…
Friday
– weakened, mixed
Thursday – strengthened,
advancers led
Wednesday –
strengthened, advancers led
Tuesday – weakened,
decliners led
Monday – strengthened,
advancers led
SPY
up .30…volume 103.8 million shares
VIX
down 1.23 at 12.54…
TNX
down .43 at 24.91…
TLT
up 1.70 at 109.20...
XLF
up .01 at 20.73…volume 33 million shares
AAPL
down 6.81 at 424.95…volume
9.5 million shares
FB
down .30 at 25.88…volume 46.5 million shares
Technical Commentary:
SPY + 0.18%, IWM + 0.15%, QQQ - 1.03%, DIA – 0.01%.
The SPY and IWM made
another new high close on Friday.
The SPY closed above horizontal resistance for the second
straight day on a last half hour rally into the close on expiration
Friday. IWM closed above its 161.8% extension
also for the second straight day.
The NDX by comparison was crushed
on weakness in AAPL, MSFT, ISRG, GOOG, EBAY and MAT after MSFT,
GOOG and ISRG released earnings on Thursday. Biotech stocks AMGN, GILD, BIIB, REGN,
CELG and VRTX led the NDX.
Positive earnings reactions from CMG,
WHR, SWKS, SLB and GE helped lift stocks higher. YELP +5.99% made another new high close.
UNG held
Thursday reversal pattern breakout. WLT had a downtrend diagonal
breakout on Friday following Thursday’s strong bounce following an analyst
upgrade.
Earnings announcements accelerate as the third of earnings season begins on Monday. Chart Signals
is focusing on stocks with
announcements and stocks that have had a positive earnings reactions over the
past two weeks.
This Week Earnings of Interest
Monday – GLW, HAL, HAS, KMB, MCD, NFLX, TXN, ZION
Tuesday – AKS, ALTR, MO, AAPL, DD,
EA, FCX, JNPR, LLTC, NSC, PCAR, PNRA, BTU, RSH, RF, TRV, UPS, UTX, USNA, VLO,
VMW
Wednesday – AKAM, ATI, ABC, ANGI,
BIDU, BA, CA, COG, CAT, CTXS, CROX, DAL, ETFC, LLY, EMC, EQIX, FFIV, FB, LVS,
MCO, ORLY, QCOM, RYL, STX, SAVE, LCC, V, WDC
Thursday – MMM, ALK, ALXN, AMZN,
BIIB, BMY, CELG, CERN, CB, CRUS, CLF, DECK, DOWN, DNKN, EXPE, GILD, IP, ESI,
KLAC, MXIM, POT, PCP, RCL, SWI, TPX, HSY, UA, UAL
Friday – DLR, SWK, WLB
Q2 Earnings Reactions
Positive Reactions – GE, HON, SLB, STI, WHR, CHKP, CMG, JCI, KEY, MS, OSTK, SWKS, UNP, UNH, BAC, IBM,
SNDK, XLNX, CSX, GS, URI, YHOO, C, WFC
Negative Reactions – BHI, AMD, GOOG, ISRG, MSFT, EBAY, INTC, MAT, SCSS, USB, AXP, KO, MOS
Chart Signals Strategy Guidelines
When the market
is trending up Chart Signals looks
for support bounce and resistance breakout entries.
When the market
is trending down Chart signals looks
for resistance pull back and support break entries.
When the market
is sideways in consolidation Chart Signals
will look for support bounce, diagonal breakouts and pull backs at
resistance where price action stays between support and resistance.
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.
The Market Forecast Green Line is in the upper zone.
____________________
Setups
H Breakout: ATVI, CMCSA, DTV, SNDK, ANGI, C, GS, TIF,
Diagonal Breakout: WYNN,
TLT,
Bull
Flag: AMAT, AMZN, PCLN, SIRI, TXN, WFM, DDD,
ESI, FSLR, MFRM, SCTY, SPLK, SSYS,
Potential Bullish Divergence:
Gap Up:
Gap Down:
Bear Flag:
At Support: INTC, NVDA, SCSS,
Moves
New Highs: COST, GILD,
MYL, NTAP, STX, WDC, CIEN, JNPR, NTES, SPY, STI, YELP,
Gap Up: CMG,
Gap Down: FB, GOOG, MSFT,
H&D Breakout: FIVE, SOHU, WLT,
Breakout Test:
Bounce: AMGN,
MACD Divergence Bounce:
Bear Flag:
Support Break: MAT, P,
______________________
52 of 100 Leading NDX stocks closed higher on Friday and one was unchanged.
Leading NDX 100 stocks included:
GOLD, AMGN, GILD, NWSA, BIIB, REGN, SNDK, CELG, VRTX, SHLD, VOD, STX,
FOSL
Lagging NDX stocks included:
MSFT, ISRG, MAT, EBAY, NVDA, YHOO, FFIV, NUAN, EXPE, AAPL, GOOG
Leading stocks > +2% on Friday included: CMG, SWKS, YELP, SLB, CDE, HLF, CRUS,
CREE, SWI, GLW
Lagging stocks < -2.0% included: TBT,
ZAGG, ANR, LNKD, IBM, X
Stocks to Watch on Monday
Holding Above 30 DMA= 86
SPLS, CSCO, AMZN, DLTR, ADBE,
INTU, SBUX, BBBY, EXPE, MCHP, PCLN,
SRCL, VRTX, ALTR, CA, LINTA, MNST, ORLY, PCAR, PCLN, ROST, STX, VOD,
VIAB, FB, LBTYA, KRFT, LMCA, CMCSA, GOOG, HSIC, DISCA, VRSK, ADP, ALXN, CHKP,
CTSH, DTV, FOSL, NTAP, SYMC, WFM, WDC, NFLX, BMC, CELG, ESRX, FISV, LLTC, XLNX,
ADI, ATVI, BIIB, CHRW, COST, CTXS, EXPD, GILD, LIFE, MYL, NUAN, PAYX, XRAY,
TXN, SIAL, SIRI, AKAM, AMAT, GRMN, KLAC, YHOO, AMGN, EQIX, REGN, SBAC, AAPL,
ADSK, BIDU, CERN, FFIV, MDLZ, WYNN, FAST, MU, SNDK, CTRX
Moving Above 30 DMA = 4
AVGO, GOLD, QCOM, SHLD
Moving Below 30 DMA = 4
EBAY, MSFT, NVDA, ORCL
Staying Below 30 DMA
MXIM, BRCM, MAT, DELL, ISRG, INTC,
NWSA
Four-Week Intermediate Term Market Trend: Up
Short Term Market Trend: Up
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