Three of nine sectors
moved higher on Friday…XLE, XLF and XLI were the strongest sectors and XLP
was the weakest.
Breadth strengthened
as decliners
led advancers 1.14 to 1 on the NYSE and
advancers led decliners 1.85 to 1 on the NASDAQ.
Friday – strengthened,
mixed
Thursday – weakened,
decliners led
Wednesday – mixed,
advancers led
Tuesday – strengthened,
advancers led
Monday – mixed, mixed
SPY down .36 at 209.77 on 121.7 million shares, 36% above average volume
VIX down .50 at 14.21…
TNX up .95 at 24.02…
TLT down 1.45 at 117.60…
XLF up .14 at 24.79 on 42.5 million shares, 62% above average volume
AAPL down .71 at 128.65 on 35.6
million shares, 27% below average volume
FB up .09 at 82.14
on 16.1 million shares,
25% below average volume
Technical Commentary:
IWM +0.72%,
SPY -0.17%, QQQ -0.24%,
DIA -0.40%.
Oil rises 90 cents, XLE Energy
leading sector
TNX interest rates close at highest
level since Oct 2014
Financial stocks gain on higher rates including: ZION,
SCHW, RF, BAC, KEY, ETFC, CME, C, JPM, WETF
Semiconductors, SOX, form bull flag with hammer:
SMH, ADI, AVGO, BRCM, FSL, LLTC, NXPI, ON, SUNE, SWKS, TER, XLNX
Broad indexes continue to
consolidate, while leading stocks including financials and semiconductor continue
to trend up strong.
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 = 212.67, 213.78...
QQQ = 110.81, 111.16…
IWM = 125.93, 127.13…
Support Levels
SPY = 208.62, 206.76...
QQQ = 108.63, 106.80…
IWM = 123.03, 122.52...
The SPX Market Forecast is pointed down at 55.
___________________
Setups
Horizontal Breakout: GOGO,
QIHU, SFUN, SLCA, SOHU, STI, TPX, TSL, UBNT, YOKU, ZNGA
Diagonal Breakout: CCL,
MBLY, SPWR, TASR, V, VSLR,
Bull Flag: IWM, QQQ, SPY, BABA, CTRP, EXPE, LC, SHAK,
SUNE, SWKS, X
Moves
New Highs: AMBA, C, CIEN,
ETFC, FEYE, GIMO, GPRO, JUNO, MS, PANW, SCHW, SINA, ZION,
H Breakout: CYBR, GIMO,
JUNO, RCL, YY,
D Breakout: JD,
Breakout Test: AIG,
Bull Flag Bounce:
GPRO, NTES, PANW, SUM, TSL,
Bounce: CSIQ, QIHU, SLCA, SPLK
Gap Up: JASO, SCHW, UA,
______________________
Watch List Stocks
Leading stocks > +2% on Friday: QIHU, JASO, SINA, JUNO, SSYS, FEYE, CSIQ,
SPLK, UAL, JD, XONE, TSL, SFUN, SUM, ZION, FSLR, SCHW, AMBA, PANW, SLCA, YOKU,
UBNT, VJET, BAC, SPWR, YELP, SHAK, LC
Lagging stocks < -2.0% included: SEDG, DGLY, UPL, X
50 of 100
NDX stocks closed higher on Friday.
Leading NDX 100 stocks included: REGN, GMCR, SNDK, AVGO, DISCA, TRIP, DISH,
ADSK
Lagging NDX stocks included: VIP, VOD, WBA, DLTR, MU, INTC, COST, MNST
NDX Stocks to Watch on
Monday
Moving Above 30 DMA = 3
AMAT, LLTC, SNDK
Moving Below 30 DMA = 7
AAPL, AMZN, DLTR, HSIC,
SIRI, VIP, WBA
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market
Trend: Down/Neutral
