Seven of nine sectors moved higher on Thursday…XLK,
XLY and XLP were the strongest sectors…XLE was the weakest sector.
Breadth strengthened…advancers
led decliners…1.82 to 1 on the NYSE and 2.35 to 1 on
the NASDAQ…
Thursday
– strengthened, advancers led
Wednesday –
strengthened, advancers led
Tuesday – weakened,
decliners led
Monday – weakened,
decliners led
Friday – weakened,
advancers led
SPY
up .26 at 164.17…volume 119.2 million shares
VIX
up .32…at 16.81…
TNX
down .31 at 27.51…
TLT
up .84 at 106.11...
XLF
up .04 at 19.53…volume 27.1 million shares
AAPL
up .80 at 491.70…volume
8.5 million shares, bull flag
FB
up .73 at 41.28…volume 58.3 million shares, at
horizontal resistance
Technical Commentary:
IWM + 1.00%, QQQ + 0.70%, SPY + 0.16%, DIA + 0.14%.
Small caps IWM led Thursday’s MACD bullish divergence
rally. NDX +21.19 was led with 13 points
from MSFT, VOD (talks on VZ wireless stake), GOOG, CELG, FB, CMCSA, AMZN and BIIB. INTC weighed on the NDX.
The big technical news was the
large number of MACD bullish divergence setups and MACD bounce
entries that occurred today.
There have been 14 previous
bullish divergences since Mar 2009, all of which have led to at least a rally
to prior resistance and eight of them have followed through with rallies to new
highs.
Short-term market posture continues defensive.
Support Levels
ES = 1,647, 1,629, 1,611
SPY = 165.15, 163.35, 161.55
Q2 Earnings Reactions
Positive Reactions – GES, DSW, ADSK, ROST, GME, JRCC, RAX, SSYS, TMUS, SGMS,
FWLT, MNST, GRPN, TSLA, AGU, BOFI, FOSL, ADM, MGM, WPO, CNK, KORS, SATS,
MGM, EAT, VIAB, YOKU, AIG, CTRX, CHK, COP, LNKD, MELI, MYL, NUS, ZAGG,
CMCSA, CTRP, GRMN, HES, MA, MCHP, SODA, YELP, QCOR, FISV, BWLD, MTW,
VRTX, WYNN, SWK, SBUX, ALK, AMZN, CELG, CB, CLF, GILD, IP, MXIM, RCL,
HSY, UA, UAL, V, FB, BIDU, TRIP, COG, CTXS, ETFC, FFIV,
AKAM, AAPL, EA, VMW, DAL, LCC, EMC, LLY, MCO, AKS, FCX, BTU, UTX, HAS,
TXN, 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 – P, SHLD, PWRD, CREE, MCP, GMCR, SCTY, SUNE, Z, CAR,
CHRW, FSLR, LINTA, ANR, CVX, CME, XOM, K, DTV, RVBD, X, COH, DISCA,
ESRX, SOHU, DLR, CERN, CRUS, DECK, DNKN, EXPE, KLAC, POT, PCP, SWI, TPX,
EQIX, ABC, CROX, ANGI, ATI, CAT, WDC, PNRA, STX, NSC, USNA, TRV, MCD, MO,
NFLX, ZION, 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 pointed down.
____________________
Setups
H Breakout: NFLX, BIDU, CTSH, FB, QCOM, WYNN, CMG, CREE, GRPN,
KKD, LNKD, LVS, MFRM, NTES, SOHU, SSYS, VECO, WLT, XONE, YELP, YOKU, Z, F
Diagonal Breakout: TSLA, ADBE, AKAM, ATVI, BRCM, CMCSA, DTV,
FFIV, INTC, MU, MYL, NTAP, SHLD, SNDK, SYMC, XLNX, ANGI, DNKN, GME, SINA, TLT, UNG,
Bull Flag: ADSK, ROST, ANR, CNX, GLD, AAPL, ADSK, AMGN,
DLTR, MSFT,
Potential Bullish Divergence: AMAT, FAST, GOOG, KLAC, MNST, SIRI,
SBUX, TXN, YHOO, ANGI, ATI, BAC, C, CIEN, CLF, FAS, FIVE, FSLR, GLW, GS, JCP, SCTY,
SWI, SPY, DIA
Gap Up:
Gap Down:
Bear Flag:
At Support: AMAT, ESRX, NUAN,
Moves
New Highs: GMCR,
Gap Up: GES, UAL,
Gap Down:
H&D Breakout: CELG, GRMN, CRM, DDD, ESI, TPX, CR
Breakout Test:
Bounce: GRMN, GME, SPLK, FB, GRPN, Z, YELP, CREE
MACD Divergence Bounce: IWM, QQQ, AMZN, PCLN, RAX, WFM, ALK,
F
Bear Flag:
Support Break: STX, WDC,
______________________
74 of 100 NDX stocks closed higher on Thursday and one was unchanged.
Leading NDX 100 stocks included: VOD, GRMN, LBTYA, ALTR, EQIX,
CELG, MU, ATVI, BIIB, WFM, FB, AVGO, VRTX, SHLD, ALXN
Lagging NDX stocks included:
WDC, STX, MNST, NUAN, INTC, MAT, ISRG,DLTR, SPLS, EXPD
Leading stocks > +2% on Thursday included: GES, Z, TSL, DDD, CRUS, SSYS, YELP,
GRPN, ESI, F, ZAGG, TPX, DECK, GMCR, SWKS, UAL CRM
Lagging stocks < -2.0% included: CLF,
AKS, JCP, UCO, CDE
Stocks to Watch on Friday
Holding Above 30 DMA= 25
TSLA, GRMN, PCLN, VIAB, FB, NFLX,
AKAM, BIDU, QCOM, AAPL, WYNN, FOXA, DELL, GOLD, NVDA, ROST, ADSK, MSFT, AMGN,
AVGO, BMC, CTSH, GILD, MYL, SYMC
Moving Above 30 DMA = 8
ALTR, CELG, CTXS, FOSL, VOD, CTRX, LBTYA, SBAC
Moving Below 30 DMA = 1
DLTR
Staying Below 30 DMA
CA, CHKP, CHRW, EXPD, FISV, INTU,
ISRG, MU, NTAP, ORLY, SBUX, TXN, VRSK, ADP, FFIV, NUAN, YHOO, MDLZ, ATAVI, WDC,
SHLD, PAYX, SPLS, SIAL, HSIC, ALXN, CSCO, EBAY, KLAC, LIFE, LLTC, MCHP, MXIM,
SIRI, SRCL, XLNX, XRAY, ADI, LMCA, BBBY, CMCSA, ESRX, PCAR, WFM, DISCA, MNST,
FAST, ADBE, COST, AMAT, AMZN, BIIB, CERN, KRFT, GOOG, LINTA, REGN, DTV, EXPE,
VRTX, SNDK, EQIX, STX, BRCM, MAT, INTC
Thirteen Week Intermediate Term Market Trend: Neutral
5-Day Short Term Market Trend: Neutral
2 comments:
Dave:
Thanks for all the details and ideas. Also for the great ATA.
Robert
CANI_212
Thanks Dave!
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