Friday, May 30, 2014

SPY, XLK, XLP Another New All-time Closing High as Many Stocks Pause on Last Trading Day of May...

Six of nine sectors moved higher on Friday…XLP, XLU and XLV were the strongest sectors…XLI was the weakest. 

Sector Posture 
Positive trend: XLB, XLE, XLI, XLK, XLP, XLV, XLY, XLU
Neutral trend near resistance: XLF
Neutral trend near support:

XLF is very near breaking out and moving from neutral to positive.

Breadth weakenedas advancers led decliners 1.03 to 1 on the NYSE and decliners led advancers 1.56 to 1 on the NASDAQ.

Friday – weakened, mixed
Thursday – strengthened, advancers led
Wednesday – weakened, mixed
Tuesday – strengthened, advancers led
Monday – holiday


SPY up .31 at 192.68 on 76.3 million shares
VIX down .17 at 11.40…
TNX up .10 at 24.57…
TLT down .05 at 114.10...
XLF up .05 at 22.29 on 27.2 million shares

AAPL down 2.38 at 633.00 on 20.1 million shares
FB down .53 at 63.30…on 45.3 million shares, below average volume


Technical Commentary:
SPY + 0.16%, DIA + 0.09%, QQQ + 0.01%, IWM -0.45%.

SPY makes new all-time closing high.
QQQ makes new bull market closing high.
XLK and XLP make new all-time closing high.
NFLX continues higher as AAPL and PCLN pause.
SPLK -8.18, -16.35% on negative EPS reaction.

Five months of 2014 are now completed and the broad market SPX is up about 5% as is the NDX 100, while the large-cap DJIA is up about 2% and the small-cap RUT is down about -1%.

    SPY, QQQ, DIA, IWM...
                      (click image to enlarge)

While the broad indexes are modestly higher in 2014, there are individual stocks that are up significantly and of course others are negative for the year including AMZN, BBBY, BIDU, CA, CELG, DISCA, MAT, SPLS, TSCO, WFM and YHOO.  Here are some to the YTD gainers.

    SNDK, NXPI, ILMN, GMCR...
                      (click image to enlarge)

    MU, GRMN, AVGO, TSLA...
                      (click image to enlarge)

    High visibility stocks FB, AAPL, NFLX, PCLN...
                      (click image to enlarge)


Trade with the trend of the chart you are trading and continue to move your protective stops.  Continue to follow your rules.


Short-term up trend Chart Targets:
SPY = 191.49, 192.85, 194.36…
QQQ = 91.36, 93.39…
IWM = 114.55, 115.02…

Support Levels
SPY = 190.42, 188.54, 188.01…
QQQ = 88.61, 87.85, 86.58…
IWM = 113.03, 112.02, 111.04…


Q1 Earnings Reactions
Positive Reactions – BIG, PANW, GLNG, QIHU, AAPL, ADSK, AET, ALL, ALXN, AMAT, ANGI, ANR, APA, ATVI, BA, BHI, BIDU, BTU, BWLD, BX, C, CHRW, CNX, COG, CTRP, CTRX, CTXS,  DAL, DAVE, DDS, DECK, DHI, DNB, DO, DTV, DV, EA, ENR, ETFC, FCX, FISV, FNMA, FOXA, GE, GILD, GMCR, GME, GOGO, GRMN, HAL, HAS, HOG, HPQ, HUM, IBKR, INTC, JCP, JNJ, KO, LPNT, LRCX, LVLT, MA, MAR, MGM, MNST, MRK, MS, NOK, NTAP,NXPI, PBI, PCLN, POT, PRU, RF, S, SCHW, SCTY, SNDK, SPWR, STI, SWK, SWKS, TKR, TMUS, TPX, TRIP, TRV, TSL, TSO, TWX, UNP, URI, UTHR, VRSK, WFC, WLP, WYNN, XRX, YELP, YHOO, Z

Negative Reactions – SPLK, ACI, ADM,  AEIS, AIG, AKAM, AKS, ALTR, AMGN, AMZN, ARWR, ATI, BAC, BBRY, BIIB, BMY, BRCM, CAR, CBOE, CELG, CHKP, CLF, CLX, COF, CREE, CTSH, DDD, DIS, DISCA, DISH, DKS, DVA, EBAY, ESI, ESRX, EXPE, F, FAST, FEYE, FFIV, FXCM, GOOG, GRPN, IBM, JAZZ, JCI, JDSU, JPM, K,  KLAC, KMB, KRFT, LLTC, LLY, LNKD, LVS, LXK, MCP, MMM, MOS, MTW, MU, MXIM, NKE,NSC, NUE, NVDA, P, PCAR, PFE, PG, PNRA, PRGO, QCOM, REGN, SAVE, SEE, SFUN, SIRI, SOHU, SPLS, SSYS, STLD, STT, STX, SUNE, SWI, T, TJX, TSLA, TSN, TWTR, UA, UBNT, UNH, UPS, V, VECO, VIAB, VMW, VRTX, VZ, WDC, WFM, XLNX, YNDX, YY, ZION, ZNGA,

Reversal in progress – AEIS, AMGN, BRCM, CHKP, CTSH, EXPE, FEYE, GRPN, KLAC, KMB, LLTC, LXK, MOS, NUE, PCAR, STLD, WDC, ZION

Reversal of Initial Reaction – ADM, AIG, AKAM, AKS, ARWR, ATI, BAC, BMY, BRCM, CAR, CELG, COF, DDD, DIS, DISCA, DVA, ESRX, F, FFIV, IBM, JCI, K, KRFT, LLY, LNKD, LVS, MMM, MU, NKE, NSC, NUE, NVDA, PG, PRGO, QCOM, SAVE, SIRI, SOHU, STX, SUNE, T, UPS, VIAB, VMW, VZ, YNDX, YY, ANGI, ANR, BTU, COG, DECK, ETFC, RF, SCHW, SWK, INTC, YHOO


The SPY Market Forecast green line is in the upper zone at 98.

____________________

Setups
Horizontal Breakout: CREE, CRM, FAS, LNKD, RAX, UPL, ADBE, ADSK, AKAM, AMZN, CTSH, FB, GRMN, INTC, STX, TXN, WDC, WYNN, XLNX,
Diagonal Breakout: ATI, BX, DAL, GLW, PANW, STI, UAL, VRSN, YELP, TWTR, CMCSA, GMCR, QCOM, YHOO,
Bull Flag: C, CIEN, CTRP, DDD, GME, IWM, JCP, JDSU, KKD, MS, P, QIHU, SFUN, SOHU, SUNE, TLT, TPX, UNG, YNDX, Z, SWI, BIDU, CELG, GILD, GOOG, MNST, MU, SBUX,
Potential Bullish Divergence: HOG, EBAY,
Gap Up:    
Gap Down:
Bear Flag: ZION,
At Support: JNPR, MTW,
C- Pattern

Moves
New Highs: SPY, QQQ, AAL, RCL, SWKS, UNP, NFLX, SNDK,
Gap Up: BIG,
Gap Down: SPLK
H Breakout:
Diagonal Breakout: COST, MSFT,
Breakout Test: TSL, GOGO, TSLA,
Bull Flag Bounce: NKE,
Bounce:
MACD Divergence Bounce: IBM,
Bear Flag: FSLR,    
Support Break:    

______________________

45 of 100 NDX stocks closed higher on Friday.


Leading NDX 100 stocks included: TSCO, COST, SRCL, MAR, MSFT, INTC, STX, EBAY, ROST, ORLY

Lagging NDX stocks included: VRSK, WYNN, FFIV, DISH, ADBE, ISRG, CERN, SIRI, TSLA, GILD

Leading stocks > +2% on Friday included: PANW, XONE

Lagging stocks < -2.0% included: SPLK, SFUN, CSIQ, ANR, SCTY, X, TWTR, TSL, WLT, QIHU, SINA, JNPR, YELP, P, Z, CRM, GOGO, SOHU, CIEN, FSLR, YNDX, LNKD, JDSU, YOKU, UBNT

Stocks to Watch on Monday
Holding Above 30 DMA= 80
MAR, CHRW, EXPD, SIAL, MDLZ, MU, SNDK, GILD, CHTR, AAPL, CTXS, DTV, ADP, CELG, FISV, EQIX, NXPI, AVGO, LBTYA, SBAC, QCOM, ATVI, KRFT, FOXA, GMCR, ALXN, MNST, SYMC, CTRX, ILMN, ADSK, NFLX, CSCO, ADBE, AMAT, HSIC, INTU, MSFT, MXIM, BIDU, CMCSA, FFIV, TRIP, BRCM, GOOG, SIRI, AKAM, AMGN, BIIB, ESRX, EXPE, LLTC, MAT, PCLN, SBUX, VRTX, VIAB, FB, ALTR, CERN, DLTR, NTAP, WYNN, TXN, DISCA, REGN, TSLA, AMZN, CTSH, GRMN, KLAC, NVDA, PAYX, ADI, INTC, LINTA, MYL, STX, WDC, VIP

Moving Above 30 DMA = 3
COST, ORLY, SRCL,

Moving Below 30 DMA = 3
ISRG, LMCA, VRSK,

Staying Below 30 DMA
CHKP, PCAR, YHOO, DISH, ROST, SPLS, VOD, FAST, XLNX, BBBY, TSCO, EBAY, WFM, CA

Sixteen Week Intermediate Term Market Trend: Up
3-Day Short Term Market Trend: Up

1 comment:

Anonymous said...

Dave,

Thank you! Your blog is very helpful! The inclusion of charts without any noise does add clarity.

Thank you!

Kathy :)