Seven out of nine
sectors moved higher on Friday…XLV, XLU and XLF were the strongest sectors
while XLE was the
weakest.
Breadth weakened…advancers
led decliners…1.64 to 1 on the NYSE and 1.30 to 1 on the NASDAQ.
Friday – weakened, advancers led
Thursday – strengthened,
advancers led
Wednesday – weakened,
decliners led
Tuesday – strengthened,
advancers led
Monday – strengthened,
advancers led
SPY up 1.50 at 196.43 on 107.5 million shares
VIX down .42 at 16.11…
TNX down .02 at 22.73…
TLT up .12 at 119.72...
XLF up .22 at 23.10 on 26.2
AAPL up .39 at 105.22 on 44.1 million shares
FB up .63 at 80.67…on 32 million shares, new all-time high
Technical Commentary:
QQQ +0.82%,
DIA +0.78%, SPY +0.77%, IWM +0.17%.
Last Friday we brought
your attention to the weekly hammer on the SPY,
QQQ and DIA while IWM formed a
bullish harami. This week SPY, QQQ and DIA formed massive
bullish engulfing patterns while IWM
formed a large white candle confirming last week’s bullish harami.
SPY, QQQ, DIA and IWM closed higher four of the days this week gaining between 5.98%
on DIA to 9.29% on QQQ.
Positive earning reactions from AAPL, ALK, ALXN, CAT, CELG, CMCSA, HOG, ILMN, KLAC, MMM, MSFT, PG, STT, TRV, TXN, UNP and YHOO helped lift the market this week. Earnings continue next week with many high visibility companies including BIDU, STX, TWTR, FB, MAR, EXPE, LNKD and GPRO.
Positive earning reactions from AAPL, ALK, ALXN, CAT, CELG, CMCSA, HOG, ILMN, KLAC, MMM, MSFT, PG, STT, TRV, TXN, UNP and YHOO helped lift the market this week. Earnings continue next week with many high visibility companies including BIDU, STX, TWTR, FB, MAR, EXPE, LNKD and GPRO.
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 Chart Targets:
SPY = 197.62, 199.69, 201.90...
QQQ = 99.30, 100.56…
IWM = 112.15, 114.51…
Support Levels
SPY = 194.27, 191.91...
QQQ = 96.62, 95.40…
IWM = 109.77, 108.87...
IWM = 109.77, 108.87...
Earnings next week:
Monday: AMGN, BIDU,
BWLD, CLF, MTW, MRK, STX, TMUS, TWTR
Tuesday: AET, AGN, ACI, CHRW, COH,
CNX, GLW, EA, ESRX, FB, FISV, GILD, HCA, LLL, MAR, PCAR, PNRA, PFE, SCHN, SIRI,
SWI, X, VRSK, WDC, WHR,
Wednesday: AEM, CAR, LNG, EQIX, FFIV,
GRMN, GT, HSY, JDSU, KRFT, LVLT, RGR, SLCA, V, WLT,
Thursday: ANR, MO, ABC, COP, EXPE,
GPRO, GRPN, JCI, K, LNKD, MDC, MA, MGM, MOS, MYL, NEM, SWKS, SBUX, TASR, TPX,
TEVA, UPL, WWE,
Friday: CBOE, CLX, WY
Q3 Earnings Reactions
Positive Reactions – AAPL,
ALK, ALXN, APOL, BMY, BRCM, CAT, CELG, CERN, CHKP, CMCSA, CNI, EMC, EW, GD,
HAL, HAS, HOG, ILMN, IM, KLAC, KMB, LLY, LRCX, LXK, MMM, MXIM, MSFT, N, ORLY, PG,
RMD, STLD, STT, SWK, TRV, TSCO, TXN, UNP, VRSN, WOOF, YHOO, YNDX, ZION, AMD, C, CSX, DAL, GE,
HON, LVS, MS, SCHW, SLB, STI, URI, XLNX, COST, BBBY, BBRY, MU,
NKE, PAYX, LULU, PANW, ULTA, MFRM, SPLK,
More than 10% - N, EW, TSCO,
NKE, ULTA, LULU, PANW, MFRM,
Negative Reactions – ALTR,
AMZN, BA, BTU, CMG, CREE, DECK, DNKN, DOW, EAT, F, GM, IBM, JNPR, KO, LMT, LUV,
NDAQ, P, UA, VMW, XRX, YELP, AXP, BAC, COF, EBAY, GOOGL, INTC, JNJ,
JPM, KEY, MAT, NFLX, WFC, AZO, ADBE, KKD, CIEN,
More than -10% - P,
Reversal in progress – AZO,
Reversal of Initial
Reaction – AXP, KKD, BBRY, MU,
The SPY Market Forecast is at 58.
___________________
Setups
Horizontal Breakout:
AIG, ATI, BAC, BBRY, BBY, BX, CIEN, CTRP, FAS, FEYE, HOG, IWM, MFRM, MS, QIHU,
RAX, SPLK, SPY, SUNE, STI, YNDX, EBAY, NTAP, SNDK, TRIP, TXN
Diagonal Breakout: CMGE,
CSIQ, ETFC, GOGO, LOCO, MBLY, SCTY, SSYS, TSL, XONE, UBNT, MU
Bull Flag: LVS, NTES, TLT,
ESI, YOKU, BRCM, COST, GMCR
Potential Bullish
Divergence: JD
At Support: ANGI
Moves
New Highs: AAPL, FB,
GILD, ILMN, AAL, BABA, DAL, NKE, NTES, PANW, SCSS, CELG, ROST, YHOO
H Breakout: AA, C, CRM,
GME, NKE, VRSN, YY, INTC, QCOM, STX
D Breakout: EMC, ADBE, CMCSA
Breakout Test: NTES, MNST,
Bull Flag Bounce:
RCL, XLNX
Gap Up: MSFT
Gap Down: P, AMZN
______________________
82 out of 100 NDX stocks closed higher
on Friday and one was unchanged.
Leading NDX 100 stocks included: KLAC, STX, MXIM, GILD, CELG, CTXS, BIDU, NXPI,
VOD, CTRX
Lagging NDX stocks included: AMZN, BBBY, ALTR, ISRG, EQIX, WFM, SRCL, FOXA,
GOOGL, DTV
Leading stocks > +2% on Friday:
SPLK, YY, DAL, YELP, VRSN, RCL, AAL, CRM, BX, SWI, CAR, FAS
Lagging stocks < -3.0% included:
GPRO, ANGI, AMBA, JD, JDSU, SFUN, Z,
CIEN
Stocks to Watch on Monday
Holding Above 30 DMA= 52
SIAL, GMCR, ROST, CHRW,
GRMN, MYL, SRCL, DLTR, ISRG, MNST, PAYX, REGN, ADP, ALXN, BIDU, COST, FB, ORLY,
TSCO, VRTX, XLNX, AAPL,AMGN, BBBY, CELG, ESRX, FISV, GILD, HSIC, ILMN, KRFT,
MA, PCAR, QCOM, SPLS, SYMC, TXN, WYNN, BRCM, YHOO, CA, CERN,
CHKP, CHTR, CTSH, EXPD, INTU, LBTYA, NVDA, SBAC, SBUX, STX
Moving Above 30 DMA =
12
ADBE, ADSK, BIIB, CMCSA, CTRX, KLAC,
LMCA, MDLZ, MSFT, PCLN, VOD, VRSK
Moving Below 30 DMA = 1
WFM
Staying Below 30 DMA
DTV, EBAY, FAST, NFLX, CSCO, EXPE, MU, DISH, AVGO, ALTR, CTXS, INTC, NTAP,
NXPI, SNDK, AKAM, GOOG, FFIV, LLTC, AMAT, LMCK, MXIM, TRIP, VIAB, EQIX, SIRI, AMZN,
ATVI, FOXA, TSLA, VIP, DISCA, MAT, ADI, WDC
6-month Intermediate
Term Market Trend: Up/Neutral
3-day Short Term Market
Trend: Up
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