One of nine sectors
moved higher on Friday…XLF, XLK and XLB were the strongest sectors and XLI
was the weakest. Trading volume was
light going into the three-day Memorial Day weekend with XLB,
XLE, XLF XLK, XLV and XLY had 42% to 50% below average volume. Markets are closed Monday.
Thank you to all who
serve or have served defending our country, we remember you this Memorial Day.
Breadth weakened as decliners led advancers 1.76 to 1 on
the NYSE and 1.36 to 1 on the NASDAQ.
Friday – weakened,
decliners led
Thursday – strengthened,
advancers led
Wednesday – mixed, mixed
Tuesday – weakened,
decliners led
Monday – strengthened,
advancers led
SPY down .51 at 212.99 on 57.4 million shares, 32% below average volume
VIX up .02 at 12.13…
TNX up .30 at 22.15…
TLT up .05 at 120.40…
XLF up .01 at 24.85 on 13.1 million shares, 49% below average volume
AAPL up 1.15 at 132.54 on 45.5
million shares, 5% below average volume
FB up .06 at 80.54 on 19.5 million shares, 22% below average volume
Technical Commentary:
QQQ -0.10%, SPY
-0.24%, DIA -0.29%, IWM
-0.43%.
The SPX
was led by gains in DGX, EXPE, DE, NTAP, TWC, CRM, HPW, INTU, ADI, AVGO,
CI, CPB and ALXN.
XLF and XLP are forming a bull
flag pattern.
FEYE setup
horizontal breakout at 45.09, price target 50.31, potential 11.5%
VSLR setup
horizontal breakout at 15.38, price target 17.56, potential 14.1%
GOGO setup
horizontal breakout at 22.60, price target 25.14, potential 11.2%
GPRO horizontal
breakout at 54.26, price target 61.62, potential 13.5%
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 = 213.91...
QQQ = 109.91, 111.16…
IWM = 125.55, 127.13…
Support Levels
SPY = 212.16, 208.62, 206.76...
QQQ = 109.32, 106.80, 105.55…
IWM = 123.17, 120.87, 120.24...
Q1 Earnings Reaction
Positive Reactions – TTWO, CMCM, RRGB, VSAT, TJX, ADI,
LGF
CTRP, MBLY, NTES, SINA,
SUNE, DATA, CYBR, BABA, CSIQ, ZNGA, JD, MCHP, REGN, SPWR, ATVI, CA, EA,
EXPD, CF, FISV, HLF, LC, PRU, SCTY, TSLA, CTSH, DO, HSIC, ICE, MNK, EL,
OCN, MRC, SWKS, TER, EXPE, TASR, AET, AIG, CME, F, FEYE, GILD, LEG, LYV, MDLZ, NXPI, SLCA, TDS, TPX,
UPL, UPS, VRSK, WY, AMZN, MSFT, JNPR, SBUX, GOOGL, CVX, AAL, CTXS, CAM,
EBAY, FFIV, ORLY, SWK, T, ALTR, BAX, BRCM, DOW, EMC, HP, ILMN, KO, MCD, NDAQ,
YUM, ABT, ATI, LRCX, PCAR, ARMH, AMGN, HAS, CHKP, HAL, MS, STI, NFLX,
CE, MAT, C, DAL, FAST, INTC, JPM, LLTC, STZ, WBA, KMX, DGLY, CTRP,
JUNO, KBH, MFRM, NKE,
More than 10% - TTWO, CMCM, RRGB, YOKU, ZBRA, DATA, SUNE, ZU, AOL,
HLF, TGI, GPRO, OCN, MRC, TER, AMZN, MSFT, ATI, HAS, NFLX, CE,
DGLY, CTRP, JUNO,
Negative Reactions – MRVL, ROST, NTAP
LOCO, JUNO, RAX, JCP, KNDI, VSLR, VJET, XONE, YY
ALL, APA, APC, AVP, CAR, CERN, CHK, DISCA, DTV, DVA, DDD, EOG, FOSL, FOXA,
FTR, GMCR, GOGO, HCA, K, LBTYA, MNST, MRO, NBL, NSM, NVDA, NWSA, NFX, PXD, SFUN,
WFM, XEC, Z, ZU, LNKD
AAPL, AKAM, ATHN, BIDU, CAH, CELG, CHRW, COH, ESRX, FSLR, GLW, GRMN, LLL,
MAR, PFE, SWI, TWTR, V, VIAB, VLO, WDC, WHR, HBI, BIIB, STT, TXN, XLNX,
MMM, SRCL, SWN, ALXN, CMG, CREE, DHR, FB, FCX, HSY, ISRG, KLAC, PEP, PG, BA,
HOG, TRV, UA, UNP, URI, YHOO, DD, BHI, RCL, AXP, BAC, GS, JNJ, SNDK, AA,
BBBY, MU, GME, YOKU, XONE,
More than -10% - NTAP, LOCO, JUNO, DGLY, RAX, MNST, FTR, NSM, AVP, LNKD, YELP,
TWTR, X, WYNN, NOW, AMD, YOKU,
Reversal in progress –
NTAP, AAPL, GRMN, RCL, X, YHOO,
Reversal of Initial
Reaction – AA, AKAM, AXP,
BAC, BHI, CAR, CELG, DD, DHR, DTV, ESRX, FCX, FOXA, GME, GOGO,
GS, HCA, JNJ, K, KLAC, LBTYA,
MU, PEP, STT, SWN, URI, V, VLO, WDC,
YOKU, XLNX, XONE, ZU
The SPX Market Forecast is at 91.
___________________
Setups
Horizontal Breakout: QQQ,
AIG, CRM, FEYE, GOGO, GPRO, JCP, JD, SFUN, SINA, TSL, VSLR, ADBE, INTC, LRCX, SBUX,
Diagonal Breakout: STX
Bull Flag: BX, CCL, MS, NCLH, RCL, SCHW, STI, V, ZNGA,
BRCM
Moves
New Highs: CIEN, CTRP,
EXPE, PANW, SUNE, SWKS, YOKU,
H Breakout: ESRX, NTAP
Bounce: X
Gap Up: CTRP, EXPE, HPQ
______________________
Watch List Stocks
Leading stocks > +2% on Friday:
CTRP, YOKU, SFUN, EXPE, X, FEYE, SUNE, VSLR, JD, LC, CRM, HPQ, SINA, BBRY
Lagging stocks < -2.0% included: SLCA, UNG, SSYS, XONE, BBY, NTES, JASO
40 of 100
NDX stocks closed higher on Friday.
Leading NDX 100 stocks included: NTAP, INTU, ADI, LVNTA, AVGO, ALXN
Lagging NDX stocks included: ROST, ADSK, DLTR
NDX Stocks to Watch on
Monday
Moving Above 30 DMA = 3
ALXN, BBBY, BIDU
Moving Below 30 DMA = 2
CTXS, EXPD
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market Trend: Up
