One of nine sectors moved higher on Thursday…XLU,
XLV and XLP were the strongest sectors…XLE was the
weakest sector.
Breadth weakened…as decliners led advancers 2.26 to 1 on the NYSE and 3.01 to 1 on the NASDAQ.
Thursday – weakened, decliners led
Wednesday –
strengthened, advancers led
Tuesday – strengthened,
decliners led
Monday – weakened,
decliners led
Friday - Holiday
SPY down .78 at 196.34 on 99 million shares
VIX up .94 at 12.59…
TNX down .15 at 25.32…
TLT up .03 at 112.86...
XLF down .15 at 22.65 on 25.8 million shares
AAPL down .36 at 95.03 on 39.6 million shares
FB down .10 at 64.87…on 44.3 million shares
Technical Commentary:
QQQ – 0.32%,
DIA – 0.37%, SPY
– 0.40%, IWM – 1.06%.
Trade with the trend of
the chart you are trading and continue to move your profit protection
stops. Continue to follow
your rules.
Short-term up trend Chart
Targets:
SPY = 198.12, 199.06…
QQQ = 94.89, 96.31…
IWM = 120.67, 121.76…
Support Levels
SPY = 196. 59, 194.13,
193.11…
QQQ = 93.57, 91.73,
90.44…
IWM = 116.65, 116.05,
114.66…
Earnings this week:
Monday –
Tuesday –
AA
Wednesday
–
Thursday –
FDO,
Friday –
FAST, WFC
Q2 Earnings Reactions
Positive Reactions – AA,
STZ, APOL, BKS, KBH, MON, MU, NKE, SCHN,
Negative Reactions – CAMP,
BBBY, GIS, CCL, WAG,
Reversal in progress –
Reversal of Initial
Reaction –
The SPY Market Forecast green line is rising in the upper zone at 85.
____________________
Setups
Horizontal Breakout: SUNE,
TPX, COST,
Diagonal Breakout:
Bull Flag:
ATI, IBM, JDSU, V, XONE, AVGO, EXPE, MU, QCOM, SNDK, XLNX,
Potential Bullish
Divergence:
Gap Up:
Gap Down:
Bear Flag:
At Support: BAC, FAS,
FSLR, GTAT, JASO, NKE, QIHU, SCHW, SWKS, TSL, ZION, TBT, WLT, AMZN, GMCR, ILMN,
NFLX, WFM,
C- Pattern:
Moves
New Highs:
H Breakout: UAL,
Diagonal Breakout: UAL,
MNST,
Bull Flag Bounce:
Gap Up: UAL
Gap Down: AIG, C, GLW,
GOGO, RAX, UBNT, VJET, KKD, CTSH,
Breakout Test:
Bounce: P, PANW, SFUN,
ADBE, INTC, MAR, MNST, MYL, STX, WDC,
MACD Divergence Bounce:
SWI,
Bear Flag:
Support Break: BX, HOG,
IWM, MS, SOHU, CTXS,
C- Pattern:
______________________
24 of 100 NDX stocks
closed higher on Thursday and one was unchanged.
Leading NDX 100 stocks included: MNST, MYL, INTC, WDC, REGN, SIRI, SYMC
Lagging NDX stocks included: TSCO, WFM, FAST, AMAT, ROST, PCLN, TSLA, AVGO,
BBBY
Leading stocks > +2% on Thursday
included: UAL, SFUN,
JD
Lagging stocks < -2.0% included:
VJET, GOGO, UBNT, GPRO, XONE, FEYE, DDD,
RAX, JCP, LNKD
Stocks to Watch on Friday
Holding Above 30 DMA= 70
MAR, CHRW,
SIAL, MU, SNDK, CHTR, AAPL, ADP, CELG, EQIX, NXPI, AVGO, ATVI, KRFT, GMCR,
ILMN, ADSK, NFLX, CSCO, ADBE, AMAT, INTU, MSFT, BIDU, CMCSA, BRCM, GOOG, AKAM,
AMGN, BIIB, EXPE, LLTC, SBUX, ALTR, TXN, ADI, GRMN, KLAC, INTC, STX, WDC, ORLY,
SRCL, LMCA, XLNX, SYMC, CTSH, DISH, DTV, MAT, VRTX, FISV, GILD, SBAC, VIAB,
DLTR, MDLZ, NTAP, EBAY, QCOM, REGN, VRSK, COST, PCAR, VIP, PAYX, AMZN, DISCA,
FFIV, FOXA, NVDA
Moving Above 30 DMA = 2
MNST,
MYL
Moving Below 30 DMA = 9
ALXN,
FB, LBTYA, PCLN, ROST, SPLS, TSLA, VIAB, WYNN
Staying Below 30 DMA
GRMN, CA,
CTRX, CTXS, FAST, HSIC, ISRG, LINTA, SIRI, TRIP, VOD, YHOO, CHKP, MXIM, WFM,
BBBY, CERN, ERX, EXPD, TSCO
Sixteen Week
Intermediate Term Market Trend: Up
3-Day Short Term Market
Trend: Down
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