Seven of nine sectors
moved lower and was one unchanged on Friday…the strongest sectors were XLU,
XLY and XLK…the weakest sector
was XLV.
All sectors moved lower for the week. XLF,
XLK, XLP, XLV and XLY are still
trend positive. XLU
remains neutral. XLB, XLE and XLI shifted
trend negative this week.
Breadth weakened as decliners led advancers 2.70 to 1 on
the NYSE and 3.22 to 1 on the NASDAQ.
Friday – weakened, decliners led
Thursday – weakened,
decliners led
Wednesday –
strengthened, decliners led
Tuesday – strengthened,
decliners led
Monday – weakened,
decliners led
SPY down 2.18 at 208.00 on 117.7 million shares
VIX up 1.10
at 13.74…
TNX down .06 at 22.7…
TLT up .30 at 121.39…
XLF down .22 at 25.36 on 29.7 million shares
AAPL down .66 at 124.50 on 42.1
million shares
FB up 1.51 at 96.95 on 33.4 million
shares
Technical Commentary:
IWM -1.61%, QQQ -0.98%, DIA -0.93%, SPY
-1.04%.
BIIB -85.02,
-22.08%, a negative
earnings reaction on disappointing sales and lowered guidance, GILD, AMGN
and CELG along with GOOG, INTC, TRIP, PCLN and TXN accounted
for 41 of the 45 point drop in the NDX on Friday. The QQQ is currently in a strong
uptrend bull flag trend continuation pattern and should be watched for a
potential entry signal.
QQQ, SPY, DIA and IWM all closed
lower in a week
that had many big name earning announcements. Earnings winners included AMZN,
V, JNPR, P, FTNT, SNDK, HAS, CMG and HOG. Earnings losers included IBM, AAPL,
MSFT, LLTC, CMCSA, CAT and MMM.
As of
Friday the trend of the 30 stocks in the DJIA:
Up: DIS, GS, JPM, NKE, PG, TRV, UNH, V
Sideways: AXP, BA, CSCO, GE, HS, JNJ, KO,
MCD, MRK, MSFT, PFE, T, VZ, WMT
Down: CAT, CVX, DD, IBM, INTC, MMM, UTX,
XOM
Signet Jewelers SIG will replace DTV in the SP500
after the close on Tuesday. The T
acquisition of DTV closed on Friday.
JD on July 29 will replace in the NDX
100 CTRX which was removed today July 24.
Trade with the trend of
the chart you are trading and
continue to move your profit protection stops. Continue to follow your rules.
Earnings Week of July 27
Monday – BIDU, NCLH, SOHU,
Tuesday – AKAM, TWTR, ESRX, FISV, CTRP,
SLCA, SPWR, YELP,
Wednesday – FB, GILD, GRMN, LRCX,
MAR, WFM, WYNN, SKX, SCTY
Thursday – EXPE, STX, LNKD, FEYE, OCN,
SHOP, ESI, SSYS, YNDX,
Friday – RCL
Q1 Earnings Reaction
Positive Reactions – AMZN, P, MXIM, JNPR, V, SBUX, LUV, SNDK, TXN,
UA, WHR, GM, VRSN, CHKP, FFIV, FTNT, LVS, PKG, TMO, TSCO, VMW, ACE, APH, OC,
BA, CHKP, IPG, CLI, CMG, LVS, MANH, TRV, VMW, LAD, HOG, WWW, ZION, HAS, HAL, GOOG, HTZ, HON, GE,
NFLX, SCHW, EBAY, C, USB, DAL, BAC, WFC, JPM, NKE, AA
More than 10% - P, FTNT, SNDK, GOOG, GOOGL, HTZ, NFLX,
Negative Reactions – BIIB, TRIP, STT, AAL, FSL, KLAC,
MCD, UNP, SAVE, CELG, CA, CMCSA, ETFC, CAT, DOW, FCX, MMM, OSTK, IBM, KO, QCOM,
AXP, AAPL, IBKR, ILMN, XLNX, VZ, BEAV, BHI, LLTC, MSFT, YHOO, EXAS, STI, UNH, MAT, KEY,
YUM, FAST, CUDA, MU
More than -10% - BIIB, TRIP, GIMO, SCSS, BEAV, SWI, CUDA, MU
Reversal in progress –
LAD,
Reversal of Initial
Reaction – HTZ, HON, GE, AA,
Short-term Chart Targets:
SPY = 210.37, 211.65...
QQQ = 113.00, 114.41…
IWM = 123.71, 124.30…
Support Levels
SPY = 207.60, 206.05...
QQQ = 111.13, 110.00…
IWM = 121.28, 119.73...
The SPX Market Forecast is moving down at 72: Defensive
___________________
Setups
Horizontal Breakout: AMBA,
CIEN, JD, NTES, YOKU, MFRM,
Diagonal Breakout: SPY,
CRM, FIT,
Bull Flag: QQQ, FAS, AIG, BAC, C, CCL, DAL, GME, MBLY,
MS, NKE, RCL, SCHW, SCTY, STI, SVXY, TPX, UBNT, ZION, HOG, COST, EA, ESRX, FB, GOOGL,
HAS, MSFT, NFLX, PCLN, ROST, WBA, SGEN, NVAX, DEPO, KR, DG, ETSY, IMGN, CVC,
CASY, JBLU, IBB, JPM, , ACAD, BURL, DIS, DRI, HCA, HZNP, INCY, NCLH, NVO, RAI,
MVC, XBI, XON, ACHC, AMAG, BK, DPS, EPAM, LEG, M, MANH, MCO
Potential Bullish
Divergence: SEDG, TSL
Bear Flag: FOGO,
At Support: IWM, BX, ETFC, GOGO, HABT, JCP, SINA, SOHU, SONC, SPWR,
SUM, SUNE, TASR, TBT, Z
C- Pattern: CYBR,
Moves
New Highs: UA, AMZN,
V, JNPR, MNST, SBUX
Breakout Test: GPRO, QIHU, SPLK,
Bull Flag Bounce: W
Gap Up: AMZN, V, JNPR,
Gap Down: BIIB, TRIP, STT
Bear Flag: SLCA
______________________
Watch List Stocks
Leading stocks > +2% on Friday: P, ETSY, V, JNPR, VXX, CRM,
Lagging stocks < -2.0% included: SLCA, SHAK, SWKS, GOGO, X, YOKU, FEYE,
SINA, BX, EXPE, SOHU, GME, CTRP, ETFC, JUNO, GPRO, DAL, TWTR
18 of 100
NDX stocks closed higher and one was
unchanged on Friday.
Leading NDX 100 stocks included: AMZN, VOD, FB, CSCO, FOXA, SBUX, ATVI, EA
Lagging NDX stocks included: BIIB, TRIP, AAL, GILD, VRTX, AMGN, ALXN, GOOG
NDX Stocks to Watch on
Monday
Moving Above 30 DMA = 3
DTV, VOD, VRSK
Moving Below 30 DMA = 8
AAL, CERN, CTSH, LVNTA, TRIP, VRTX,
WFM, WYNN
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market Trend: Down
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