Three of nine sectors
moved higher on Thursday… XLY, XLP, and XLF all moved higher while XLE was the weakest.
Breadth strengthened…advancers led decliners…1.15 to 1 on the NYSE and 1.80 to 1 on the
NASDAQ.
Thursday – strengthened, advancers led
Wednesday – weakened,
decliners led
Tuesday – weakened,
decliners led
Monday – weakened,
decliners led
Friday – strengthened,
advancers led
SPY down .02 at 194.33 on 157.2 million shares, double average volume
VIX down .55 at 16.16…
TNX up .35 at 24.38…
TLT down .92 at 117.31...
XLF up .07 at 22.96 on 56.4 million shares, above average volume
AAPL up .12 at 99.30 on 47.7 million shares, below average volume
FB up .40 at 76.95…on 36.4 million shares
Technical Commentary:
QQQ - 0.04%, SPY + 0.02%, DIA + 0.04%, IWM
+ 0.88%.
Over the past three
months the SPX is -1.3%,
Dow -.9%, NDX +2.2% and the RUT -10%. YTD the SPX is +6.2%, Dow +2.2%,
NDX +11.8% and the RUT
-5.1%.
Earning season unofficially begins next week on Oct 8 when AA releases earnings after the close.
Forecasts on SPX companies are for revenue growth in the vicinity of
3.5% and earnings growth around 7%.
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...
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 30.
This is a
bearish reading.
____________________
Setups
Horizontal Breakout:
Diagonal Breakout: MBLY,
TWTR, UAL, VRSN, YELP, P,
Bull Flag: GPRO, MU,
Potential Bullish
Divergence:
Gap Up:
Gap Down:
Bear Flag:
At Support: AIG, TPX, V, EXPE,
C- Pattern:
Moves
New Highs:
H Breakout:
D Breakout: KNDI,
Breakout Test:
Bull Flag Bounce:
Bounce: DAL, FEYE,
GOGO, JCP, JD, NKE, PANW, SPLK, SWI, UAL, GTAT, P, COST, FFIV, MYL, NFLX,
MACD Divergence Bounce:
VRSN, YELP, KNDI,
Gap Up: ADSK, DTV, TSLA,
Gap Down: CREE,
C- Pattern:
Bear Flag:
Support Break: AA, BBRY,
______________________
50 out of 100 NDX
stocks closed higher on Thursday
and one was unchanged.
Leading NDX 100 stocks included: TSLA, MYL, ADSK, NFLX, FAST, MAT, FFIV, ADP, PCAR
Lagging NDX stocks included: AVGO, VIP, VRTX, GRMN, AMAT, MAR, EXPE, INTC,
MDLZ, INTU
Leading stocks > +2% on Thursday
included: GOGO, MBLY,
TWTR, FEYE, SPLK, JCP, YELP, PANY, LOCO, JC
Lagging stocks < -2.0% included:
GPRO, BBRY
Stocks to Watch on Friday
Holding Above 30 DMA= 16
COST, MNST,
ROST, PAYX, DTV, VRTX, INTU, ADSK, REGN, SIAL, BBBY, CSCO, MU, YHOO, EBAY, ALXN
Moving Above 30 DMA = 4
CERN, DLTR, FB, ISRG
Moving Below 30 DMA = 2
AMGN, AVGO
Staying Below 30 DMA
ALTR,
BRCM, CELG, CTXS, EXPE, GILD, INTC, KLAC, MSFT, NTAP,BIDU, MAR, NXPI, SNDK,
TXN, BOD, XLNX, AAPL, GMCR, LBTYA, SBAC, SPLS, ADP,AKAM, BIIB, CHKP, FAST,
FISV, GOOG, QCOM, CHTR, CMCSA, FFIV, LLTC, WFM, AMAT, CA, CHRW, ESRX,EXPD,LMCA,
MXIM, MYL, SYMC, TRIP, VIAB, VRSK, DISH, 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: Down
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