Thursday, June 4, 2015

Majority Of Stocks Close Lower...Greek Drama Cited...Numerous Stocks Close At Or Near Support...Heavier Trading Volume...

All sectors moved lower on Thursday…XLU, XLV and XLY were the strongest sectors and XLE was the weakest. 
 
Breadth weakened as decliners led advancers 3.65 to 1 on the NYSE and 2.68 to 1 on the NASDAQ.

Thursday – weakened, decliners led
Wednesday – mixed, advancers led
Tuesday – strengthened, advancers led
Monday – mixed, mixed
Friday – weakened, decliners led


SPY down 1.79 at 210.13 on 151.8 million shares, heavy volume
VIX up 1.05 at 14.71…
TNX down .59 at 23.07…
TLT up 1.53 at 119.05…
XLF down .22 at 24.65 on 30.4 million shares

AAPL down .76 at 129.36 on 38.4 million shares
FB down .39 at 82.05 on 20.8 million shares


Technical Commentary:
DIA -0.92%, SPY -0.85%, QQQ -0.76%, IWM -1.00%.

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 = 212.91, 213.91...
QQQ = 110.38, 111.16
IWM = 125.47…

Support Levels
SPY = 208.62, 206.76...
QQQ = 108.76, 106.80, 105.55…
IWM = 122.52, 120.87, 120.24...



The SPX Market Forecast is pointed down at 59.

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Setups
Horizontal Breakout: JUNO, TPX, YOKU, ANGI, MTW, BIDU, DTV, EBAY, ILMN,
Diagonal Breakout: SFUN, SLCA, VJET,  
Bull Flag: BABA, PANW, SWKS, AVGO, XLNX,  
Potential Bullish Divergence:  
Gap Up
Gap Down:
Bear Flag:
At Support: BX, HPQ, MBLY, YNDX, GLW, ADBE, AKAM, MSFT, STX,
C- Pattern:  

Moves
New Highs: AMBA,    
H Breakout:        
D Breakout:   
Breakout Test: 
Bull Flag Bounce:      
Bounce: VXX, MYL,   
MACD Divergence Bounce: MNST,      
Gap Up: LVS, WYNN,    
Gap Down:  
C- Pattern:   
Bear Flag: CYBR, QIHU,
Support Break: SPY, DGLY, P, SCTY, Z, TXN,   


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Watch List Stocks
Leading stocks > +2% on Thursday:  JUNO, SEDG, AMBA, VXX
                                                       
Lagging stocks < -2.0% included: LC, SVXY, UNDX, SCTY, SHAK, P, Z, GIMO, SUM, MBLY, JASO, FAS, DGLY, JCP, SWI, SPLS 


19 of 100 NDX stocks closed higher on Thursday.

Leading NDX 100 stocks included: WYNN, DISH, SBAC, MYL, NTAP, NVDA, MNST, REGN, EBAY, CTRX

Lagging NDX stocks included: VIP, WDC, KLAC, TSCO, AAL, ADSK, LBTYA, STX, CHRW, CTSH


NDX Stocks to Watch on Friday
Moving Above 30 DMA = 1
SBAC
  
Moving Below 30 DMA = 9
AMAT, FAST, GOOG, GRMN, ISRG, LLTC, ORLY, QCOM, WDC

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Neutral