Seven of nine sectors moved higher on Thursday…XLE,
XLF and XLI were the strongest sectors…XLU was the weakest sector.
Breadth weakened…decliners
led advancers…1.11 to 1 on the NYSE and
advancers led decliners 1.52 to 1 on
the NASDAQ…
Thursday
- mixed
Wednesday –
strengthened, advancers led
Tuesday – strengthened,
advancers led
Monday – Labor Day
Holiday
Friday – weakened,
decliners led
SPY
up .21 at 165.96…volume 63 million shares
VIX
down .11…at 15.77…
TNX
up .82 at 29.79…
TLT
down 1.45 at 102.54...
XLF
up .04 at 19.80…volume 30.2 million shares
AAPL
down 3.42 at 495.27…volume
8.4 million shares
FB
up .88 at 42.66…volume 4.9, new high close horizontal
resistance breakout
Technical Commentary:
SPY + 0.13%, IWM + 0.16%, QQQ + 0.17%, DIA
– 0.04%.
SPY rose .13% and is
nearing is diagonal breakout while QQQ rose .17%
and is nearing its horizontal breakout.
IWM likewise is nearing a diagonal breakout and rose .16%.
SHLD gained 2.83 or 6.27% breaking through horizontal
resistance of early August on 1.8 million shares. FAST gapped up today and gained 2.76% or 6.02% after
coming out of a double bottom with a positive MACD divergence. JCP also
have a double bottom with a positive divergence and added .72 or 5.33% on
47.3 million shares.
YELP made new
high close is near a horizontal resistance breakout setup gaining 2.96 or 5.29% today. WLT is at its August horizontal
resistance having gained .83 or 6.15%
today on 13.4 million shares.
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 – CIEN, SPLK, CRM, 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 up.
____________________
Setups
H Breakout: AAPL, AMAT, AMGN, CELG, CTSH, FFIV, NUAN, NVDA,
PCLN, ROST, SNDK, STX, TXN, XLNX, YHOO, ANR, BBRY, CMG, CNX, DNKN, ESI, F, PWRD,
SINA, WLT, YELP,
Diagonal Breakout: DTV, EBAY, MNST, WDC, ALK, BAC, C, CLF, FAS,
GLW, GS, JCP, SWI,
Bull Flag: CRM,
Potential Bullish Divergence:
Gap Up:
Gap Down:
Bear Flag:
At Support: MSFT,
Moves
New Highs: QCOM, LNKD,
Gap Up: COST, FAST, NFLX, SIRI, GRPN, TBT,
Gap Down: TLT,
H&D Breakout: AKAM, ESRX, GOOG, MU, SHLD, ATI, SPY,
Breakout Test:
Bounce: FSLR, SCTY,
MACD Divergence Bounce:
Bear Flag:
Support Break:
______________________
60 of 100 NDX stocks closed higher on Thursday and two were unchanged.
Leading NDX 100 stocks included: SHLD, FST, BRACM, SIRI, MU,
COST, FB, LMCA, SNDK, CTRX, FFIV, SPLS, LINTA
Lagging NDX stocks included:
GOLD, EXPE, LBTYA, CERN, BIIB, CMCSA, FOSL, MCHP
Leading stocks > +2% on Thursday included: JCP, YELP, SINA, LNKD, ANR, TSL, GRPN,
ATI, TBT, F, BBRY, ANR, MCP, PWRD
Lagging stocks < -2.0% included: CDE,
ZONE, DE
Stocks to Watch on Friday
Holding Above 30 DMA= 51
TSLA, GRMN, PCLN, VIAB, FB, NFLX,
QCOM, AAPL, WYNN, DELL, GOLD, NVDA, ADSK, AMGN, AVGO, BMC, CTSH, GILD, MYL,
VOD, SBAC, NUAN, SHLD, AKAM, ALTR, BIIB, CELG, EXPD, LIFE, MU, MXIM, NTAP,
ROST, SBUX, YHOO, EQIX, REGN, VRSK, FOXA, ADBE, ADP, ALXN, ATVI, CHRW, DLTR,
INTC, INTU, KLAC, SNDK, XLNX, TXN
Moving Above 30 DMA = 13
AMAT, AMZN, BRCM, FAST, GOOG, LINTA, SIRI, VRTX, WFM, XRAY,
CTRX, WDC, LMCA
Moving Below 30 DMA = 1
LBTYA
Staying Below 30 DMA
BIDU, SYMC, FOSL, MSFT, CTXS, CA,
CHKP, FISV, ISRG, ORLY, FFIV, MDLZ, PAYX, SPLS, SIAL, HSIC, CSCO, EBAY, LLTC,
MCHP, SRCL, ADI, BBBY, CMCSA, ESRX, PCAR, DISCA, MNST, COST, CERN, KRFT, DTV,
EXPE, STX, MAT
Thirteen Week Intermediate Term Market Trend: Neutral
5-Day Short Term Market Trend: Up
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