None of the nine sectors moved higher on Thursday…however XLU, XLK and XLY were
the strongest sectors…XLB was the weakest sector again.
Sector Posture
Positive trend: XLB, XLE, XLI, XLK, XLP,
Neutral trend near
resistance: XLF, XLU, XLY
Neutral trend near
support:
Breadth weakened…as decliners led advancers 2.30 to 1 on the NYSE and 2.09 to 1 on the NASDAQ.
Thursday – weakened, decliners led
Wednesday – weakened,
decliners led
Tuesday – weakened,
decliners led
Monday – strengthened,
advancers
Friday – strengthened,
advancers led
SPY down 1.66 at 187.40 on 154.8 million shares, above average volume
VIX up 1.00 at 13.17…
TNX down .41 at 25.02…
TLT up .90 at 113.86...
XLF down .25 at 21.72 on 39.8 million shares
AAPL down 5.05 at 588.92 on 8.2 million shares
FB down 1.31 at 57.92…on 56.7 million shares, below average volume
Technical Commentary:
DIA – 0.94%,
SPY – 0.88%, QQQ –
0.79%, IWM – 0.68%.
JCP up 18.28% after reported
earnings in after-hours trading…commenting that management feels JCP has turned
a significant corner.
GAINERS of 5% or MORE
RAX gained 7.12% up 2.04 on increased
volume…close to horizontal breakout of early April. RAX is up another 7.40% in
after hours trading.
S gained 6.01% up .54 also on increased volume of 39.3
million…reached an intra-day horizontal breakout of April 1 and closed pennies
below its April high.
CSCO gapped up gaining 6.01% or 1.37
after reported earnings…breaking horizontal resistance of mid-August of 2013. Volume was heavy with 120.9 million shares
traded.
LOSERS of 5% or MORE
ATK gapped down on reported earnings
breaking through resistance of late April and resting at support of mid-April…losing
9.34% down 13.84.
INCY closed down 8.86% down 4.95 on
increased volume and is at support of mid-April.
BMY gapped down at the open and
finished the day down 6.12% or 3.19 on increased volume of 28.5 million shares…coming
to rest at support of late April.
LNC likewise gapped down on increased
volume and closed down 5.16% down 2.58 and is at support of late April…volume
was 6.9 million shares.
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 = 187.17, 189.70,
191.07, 192.27…
QQQ = 89.77, 90.77…
IWM = 113.84, 115.25…
Support Levels
SPY = 189.14, 188.21,
186.01
QQQ = 88.21, 87.07, 85.53
IWM = 111.22, 110.09,
108.28
Q1 Earnings Reactions
Positive Reactions – AAPL, AET, ALL, ALXN,
ANGI, ANR, APA, ATVI, BA, BHI, BIDU, BTU, BWLD, BX, C, CHRW, CNX, COG, CTRP,
CTRX, CTXS, DAL, DAVE, DECK, DHI, DNB,
DO, DTV, DV, EA, ENR, ETFC, ESI, FCX, FISV, FNMA, FOXA, GE, GILD, GMCR, GME,
GRMN, HAL, HAS, HOG, HUM, IBKR,
INTC, JNJ, KO, LPNT, LRCX, LVLT, MA, MAR, MGM, MNST, MRK, MS, NOK, NXPI, PBI,
POT, PRU, RF, S, SCHW, SCTY, SNDK, SPWR, STI, SWK, SWKS, TKR, TMUS, TPX, TRIP,
TRV, TSO, TWX, UNP, URI, UTHR, VRSK, WFC, WLP, WYNN, XRX, YELP, YHOO, Z
Negative Reactions – 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, DVA, EBAY, 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, NSC, NUE, NVDA, P, PCAR, PFE, PG, PNRA, PRGO, QCOM, REGN, SAVE, SEE, SFUN, SIRI,
SOHU, SSYS, STLD, STT, STX, SUNE, SWI, T, TSLA, TSN, TWTR, UA, UBNT, UNH, UPS,
V, VECO, VIAB, VMW, VRTX, VZ, WDC, WFM, XLNX, YNDX, YY, ZION, ZNGA,
Reversal in progress – AKAM,
BRCM, CHKP, CTSH, EXPE, GRPN, KMB, LLTC, LXK, MOS, NUE, STLD, SUNE, ZION
Reversal of Initial
Reaction – ADM, AIG, AKS, ARWR, ATI, BAC, BMY, CAR, CELG, COF, DDD, DIS, F,
IBM, K, KRFT, LLY, LVS, MMM, MU, NSC, NUE, NVDA, PG, SIRI, T, UPS, VZ, YNDX, ANGI, BIDU, NFLX, RF, INTC
The SPY Market Forecast green line is pointed slightly down at 85.
____________________
Setups
Horizontal Breakout: CTRP,
KKD, Z, P, YNDX,
Diagonal Breakout: JNPR,
CIEN, LNKD, TWTR, YELP,
Bull Flag: AAL, ATI, SPY,
TPX, UAL, ANR, DDD, V, VRSN, ADSK, BIDU, COST, FB, FFIV, GMCR, MU, SNDK, TRIP,
Potential Bullish
Divergence: YOKU,
Gap Up:
Gap Down:
Bear Flag:
At Support: CREE,
ETFC, FAS, FSLR, IBM, MS, PANW, RCL, SWKS, ZION, LVS, SINA, SSYS, SWI, TSL, XONE,
INTC, WFM, XLNX, YHOO,
C- Pattern:
Moves
New Highs:
Gap Up: TLT,
Gap Down: C, SCHW, XONE,
COST, EBAY,
H Breakout:
Diagonal Breakout:
Breakout Test:
Bull Flag Bounce:
Bounce: JDSU, UNG,
UPL, CIEN, ESI, RAX, SOHU, CMCSA,
MACD Divergence Bounce:
ANGI,
Bear Flag:
Support Break: GME,
HOG, IWM, MFRM, MTW, SCSS, SPWR, STI, BAC, CSIQ, TBT, TXN,
______________________
20 of 100 NDX stocks
closed higher on Thursday.
Leading NDX 100 stocks included: CSCO, SYMC, EXPD, MYL, CTSX
Lagging NDX stocks included: MU, CA, VRTX, CTSH, VIP, BIIB, FB, NFLX, VOD,
SIRI
Leading stocks > +2% on Thursday
included: Z
Lagging stocks < -2.0% included:
ETFC, SCHW, SPWR, ATI, FAS, FSLR, UAL,
SWKS
Stocks to Watch on Friday
Holding Above 30 DMA= 37
MAR, CHRW,
SPLS, EXPD, SIAL, MDLZ, MU, SNDK, GILD, CHTR, AAPL, CTXS, DTV, ADP, CELG, FISV,
EQIX, NXPI, AVGO, MAT, VRSK, LBTYA, SBAC, QCOM, ATVI, KRFT, COST, FOXA, GMCR,
ALXN, MNST, SYMC, CTRX, DISH, ILMN, ADSK, NFLX,
Moving Above 30 DMA = 1
CSCO
Moving Below 30 DMA = 12
AKAM,
BIDU, BIIB, DLTR, MSFT, ORLY, PAYX, SIRI, SRCL, VOD, VRTX, TRIP
Staying Below 30 DMA
HSIC,
INTC, INTU, SBUX, TXN, FB, LMCA, AMAT, CMCSA, GRMN, NVDA, ROST, VIAB, YHOO,
CTSH, EXPE, LINTA, MYL, WYNN, REGN, TSLA, BRCM, FAST, MXIM, CHKP, PCAR, ADI,
WDC, FFIV, VIP, STX, ISRG, KLAC, LLTC, NTAP, XLNX, BBBY, ALTR, AMGN, DISCA,
TSCO, EBAY, ESRX, WFM, ADBE AMZN, CERN, PCLN, CA
Sixteen Week
Intermediate Term Market Trend: Up
3-Day Short Term Market
Trend: Down
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