Eight of nine sectors
moved higher on Friday… XLV, XLF, and XLI were the strongest sectors
while XLE was the
weakest.
Breadth strengthened…advancers led decliners…2.10 to
1 on the NYSE and 1.98 to 1 on the
NASDAQ.
Friday – strengthened,
advancers led
Thursday – strengthened,
advancers led
Wednesday – weakened,
decliners led
Tuesday – weakened,
decliners led
Monday – weakened,
decliners led
SPY up 2.14 at 194.33 on 121.5 million shares
VIX down 1.61 at 14.55…
TNX up .09 at 24.47…
TLT up .50 at 117.70...
XLF up .33 at 23.28 on 50.4 million shares
AAPL down .28 at 99.62 on 43.4 million shares
FB up .36 at 77.44…on 23.3 million shares
Technical Commentary:
DIA +1.23%,
SPY +1.10%, QQQ +0.99%, IWM +0.75%.
Stocks continued to
rally on Friday following Thursday’s intraday reversal and bounce. The SPY,
QQQ and DIA each formed a Morning Star 3-candle bullish pattern that
requires no confirmation on Friday.
While the SPY, QQQ and DIA made short-term lower
lows on the chart, each is still in an intermediate term higher low and each
also formed a bullish white body hammer on the weekly chart.
(click image to enlarge)
With long and
intermediate term uptrend and bullish candles on both the daily and weekly
charts, Chart Signals is looking for the
intermediate term up trend to continue next week.
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 = 198.98, 200.65, 201.90...
QQQ = 99.75, 100.56…
IWM = 109.8, 111.27, 112.46...
Support Levels
SPY = 194.35, 193.03, 190.28...
QQQ = 96.94, 96.17, 95.06…
IWM = 107.43, 106.74...
Earnings this week: AA, COST
Sep Earnings Reactions
Positive Reactions – BBBY,
BBRY, MU, NKE, PAYX, LULU, PANW, ULTA, MFRM, SPLK,
More than 10% - NKE, ULTA, LULU, PANW,
MFRM,
Negative Reactions –
AZO, ADBE, KKD, CIEN,
More than -10% -
Reversal in progress –
Reversal of Initial
Reaction – KKD,
The SPY Market Forecast green line is at 28 and lags price bounce.
____________________
Setups
Horizontal Breakout: CRM,
LNKD, MBLY, NKE, SFUN, SPLK, ROST, SBUX,
Diagonal Breakout: HPQ,
MFRM, X, MSFT,
Bull Flag: AMBA, GPRO, EBAY,
FB, MU,
Potential Bullish
Divergence: CTRP, GRMN, PCLN, WDC,
Moves
New Highs: PANW,
H Breakout: TWTR, TSLA,
D Breakout: ETFC, SPLK, UAL, VRSN, FFIV,
Breakout Test:
Bull Flag Bounce: SPY,
BAC, BBY, SCHW, CELG, GILD,
Bounce: AIG, C, CRM, DAL,
FAS, GOGO, IWM, LNKD, MS, NKE, RCL, SWKS, ZU, GMCR, GOOGL, ILMN, MNST, ROST, SBUX,
STX,
MACD Divergence Bounce:
AAL, JCP, SCTY, YY, ADBE, AMZN, CMCSA, EXPE,
Gap Up: MBLY, NFLX,
______________________
91 out of 100 NDX
stocks closed higher on Friday
and one was unchanged.
Leading NDX 100 stocks included: MYL, ALXN, VRTX FFIV, ADP, AKAM, CELG, CHTR,
EXPE, DISH
Lagging NDX stocks included: ALTR, EBAY, XLNX, LLTC, KLAC, ADI, AAPL, TXN
Leading stocks > +2% on Friday
included: SPLK, AAL,
PANW, YY, MBLY, DAL, UAL, ZU, TWTR, FAS, JCP, RCL, CRM, SWKS, SCTY, SPWR, ETFC,
SFUN, BAC, LOCO, MS, BX, GOGO, P, C, HPQ
Lagging stocks < -2.0% included:
KNDI, FEYE, UBNT, RWLK
Stocks to Watch on Monday
Holding Above 30 DMA= 20
COST, MNST,
ROST, PAYX, DTV, VRTX, INTU, ADSK, REGN, SIAL, BBBY, CSCO, MU, YHOO, EBAY, ALXN,
CERN, DLTR, FB, ISRG
Moving Above 30 DMA = 11
ADP, AMGN, CELG, CHRW, DISH, FAST, FISV, GILD, GMCR, MYL, SBAC
Moving Below 30 DMA = 0
Staying Below 30 DMA
AVGO, ALTR,
BRCM, CTXS, EXPE, INTC, KLAC, MSFT, NTAP,BIDU, MAR, NXPI, SNDK, TXN, VOD, XLNX,
AAPL, LBTYA, SPLS, AKAM, BIIB, CHKP, GOOG, QCOM, CHTR, CMCSA, FFIV, LLTC, WFM,
AMAT, CA, ESRX, EXPD, LMCA, MXIM, SYMC, TRIP, VIAB, VRSK, EQIX, ILMN, MDLZ,
NVDA, ORLY, SIRI, CTRX, KRFT, ADBE, AMZN, ATVI, FOXA, LINTA, NFLX, STX, TSLA,
VIP, HSIC, SBUX, SRCL, TSCO, DISCA, MAT, ADI, WDC, GRMN, PCLN, PCAR, CTSH, WYNN
Sixteen Week
Intermediate Term Market Trend: Up
3-Day Short Term Market
Trend: Neutral
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