Four of nine sectors moved higher on Thursday…XLY, XLK and XLF were the
strongest sectors…XLE was the weakest sector.
Sector Posture
Positive trend: XLE, XLP, XLU, XLB
Neutral trend near
resistance: XLI, XLK
Neutral trend near
support: XLF, XLV, XLY
Breadth weakened…as decliners led advancers 1.39 to 1 on the NYSE and 2.13 to 1 on the NASDAQ.
Thursday – weakened, decliners led
Wednesday –
strengthened, advancers led
Tuesday – weakened,
decliners led
Monday – weakened,
decliners led
Friday – mixed,
advancers led
Thursday – weakened,
mixed
SPY down .20 at 187.68 on 93.4 million shares
VIX up .03 at 13.43…
TNX up .12 at 26.02…
TLT down .48 at 111.60...
XLF up .06 at 21.94 on 29 million shares, below average volume
AAPL down 1.05 at 587.99 on 8.1 million shares
FB down .63 at 56.76…on 61.1 million shares, below average volume
Technical Commentary:
DIA + 0.19%,
QQQ - 0.09%, SPY –
0.11%, IWM – 1.01%.
ECB president Draghi spoke
about easing monetary policy in June sent the Euro lower and the dollar higher
on Thursday. U.S. stocks fell after SPY
and DIA traded near all-time highs, once again demonstrating why its call
resistance. SPY and DIA support is
getting stronger but resistance is not yet giving way.
XLE Energy sector was weaker after the dollar strengthened which makes oil less expensive in US dollars. XLF Financial stocks rose for the second straight day.
XLE Energy sector was weaker after the dollar strengthened which makes oil less expensive in US dollars. XLF Financial stocks rose for the second straight day.
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…
QQQ = 86.90, 87.88…
IWM = 113.84, 115.25…
Support Levels
SPY = 184.96, 183.37,
181.38
QQQ = 85.98, 85.09, 84.16
IWM = 110.12, 108.91,
106.99
Earnings This Week:
Monday: AEIS, AIG, PFE, TSN, VECO, YY
Tuesday: ATVI, ALL, ARWR, CBOE, DTV, DISCA, DIS, EA, FEYE, FSLR, GRPN, HSIC, LBTYA, MRO, MOS, TRIP, WFM
Wednesday: CAR, CTSH, CTRP, FWLT, HUM, GMCR, MCP, PRGO, PRU, SCTY, SFUN, TSLA, FOXA, Z
Thursday: APA, DISH, FNMA, FXCM, JAZZ, LMCA, MNST, NVDA, PCLN, REGN, SUNE, UBNT,
Friday: MHR, SSYS
Q1 Earnings Reactions
Positive Reactions – FOXA,
GMCR, PRU, SCTY, Z, ATVI, ALL, DTV, EA, HUM, TRIP, WYNN, ESI, MA, TMUS,
TPX, YELP, CTRX, TSO, ANR, GRMN, ENR, LVLT, PBI, TWX, CHRW, CNX, DNB, FISV,
MAR, VRSK, WLP, MGM, MRK, NOK, S, UTHR, BWLD, AAPL, AET, ALXN, ANGI, BA, BHI,
BIDU, BTU, BX, C,COG, CTXS, DAL, DAVE,
DECK, DHI, DO, DV, ETFC, FCX, GE, GILD, GME, HOG, HAL, HAS, HOG, IBKR, INTC, JNJ, KO, LPNT, LRCX, MS,
NXPI, POT, RF, SCHW, SNDK, SPWR, STI, SWK, SWKS, TKR, TRV, UNP, URI, WFC, XRX,
YHOO
Negative Reactions – ARWR, CAR, DISH, MCP,
REGN, SUNE, TSLA, CTSH, DIS, FEYE, GRPN, MRO, PRGO, SFUN, WFM, AEIS, AIG, CBOE,
DISCA, MOS, PFE, TSN, VECO, YY, MTW,
AKAM, DVA, EXPE, KRFT, LNKD, K, VIAB, VRTX, CLX, JDSU, WDC, EBAY, ESRX, SEE,
PNRA, STX, SWI, TWTR, ADM, BMY, CHKP, COH, DDD, GT, PCAR, SAVE, SOHU, ACI, AKS,
ALTR, AMGN, AMZN, ATI, BAC, BBRY, BIIB, BRCM,
CELG, CLF, CREE, F, FAST, FFIV, GOOG, IBM, JCI, JPM, KLAC, KMB, LLTC, LLY, LVS,
LXK, MMM, MU, MXIM, NSC, NUE, P, PG, QCOM, SIRI, STLD, STT, T, UA, UNH, UPS, V,
VMW, VZ, XLNX, YNDX, ZION, ZNGA,
Reversal in progress – BRCM,
LLTC, NUE, STLD, ZION
Reversal of Initial
Reaction – AKS, ATI, BAC, CELG, F, IBM, KMB, LVS, MMM, MU, PG, SIRI, T, UPS,
YNDX, ANGI, BIDU, NFLX, RF, INTC
The SPY Market Forecast green line turned down at 77.
____________________
Setups
Horizontal Breakout:
SPY, SWKS, GMCR, MU,
Diagonal Breakout: FAS,
GLW, JNPR, NKE, STI, ZION, DDD, VRSN, INTC, MNST,
Bull Flag: TLT,
Potential Bullish Divergence:
YOKU,
Gap Up:
Gap Down:
Bear Flag:
At Support: IWM, MFRM,
PANW, CSIQ, LVS, SINA, AMZN, BIDU, STX, YHOO,
C- Pattern:
Moves
New Highs: ATI, SNDK,
Gap Up: GMCR,
Gap Down: TSLA,
H Breakout: AAL, V,
Diagonal Breakout: YNDX,
GMCR,
Breakout Test:
Bull Flag Bounce:
Bounce: C, GME, NKE, UAL,
Z, BAC, SCTY, SSYS, TWTR, COST, ROST, TXN, XLNX,
MACD Divergence Bounce:
X, BX, LNKD, NTES, P, ADBE, CTSH, MSFT,
Bear Flag:
Support Break: UNG,
UPL, ESI, PCLN, TSLA,
______________________
50 of 100 NDX stocks
closed higher on Thursday and one was unchanged.
Leading NDX 100 stocks included: GMCR, FOXA, EXPD, COST, DISCA, CTSH
Lagging NDX stocks included: TSLA, WYNN, DISH, DTV, VIP, CTRX, PCLN
Leading stocks > +2% on Thursday
included: Z, AAL, SCTY,
TWTR, YNDX
Lagging stocks < -2.0% included:
UNG, UPL, ETFC, SPWR, XONE, CSIQ, LVS,
SPLK, TSL, GOGO, ESI
Stocks to Watch on Friday
Holding Above 30 DMA= 31
MAR, INTC,
CHRW, SPLS, EXPD, SIAL, MDLZ, MU, SNDK, CMCSA, GILD, CHTR, AAPL, CTXS, SRCL, VOD,
DTV, CELG, FISV, EQIX, NXPI, AVGO, MAT, VRSK, LMCA, LBTYA,
SBAC, QCOM, ATVI, DLTR, KRFT
Moving Above 30 DMA = 5
COST, CSCO, TXN, FOXA, GMCR,
Moving Below 30 DMA = 4
ALXN, GRMN, DISH, ILMN
Staying Below 30 DMA
BIDU,
ORLY, SIRI, YHOO, CTSH, EXPE, LINTA, MYL, NVDA, PAYX, VRTX, WYNN, FB, CTRX,
REGN, TSLA, BRCM, SYMC, ADSK, FAST, MSFT, MXIM, VIAB, CHKP, PCAR, ADI, WDC,
FFIV, VIP, STX, ISRG, AMAT, KLAC, LLTC, NTAP, XLNX, BBBY, ROST, ALTR, AMGN,
HSIC, DISCA, SBUX, TSCO, INTU, AKAM, EBAY, ESRX, WFM, TRIP, ADBE, AMZN, BIIB,
CERN, PCLN, MNST, NFLX, CA, GOOG
Sixteen Week
Intermediate Term Market Trend: Up
3-Day Short Term Market
Trend: Neutral
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