Four of nine sectors
moved higher on Friday…the
strongest sectors were XLU, XLV and XLY…the
weakest sector was XLE.
Breadth strengthened as advancers led
decliners 1.69 to 1 on the NYSE and
1.38 to 1 on
the NASDAQ.
Friday – strengthened,
advancers led
Thursday – weakened,
advancers led
Wednesday – unchanged,
advancers led
Tuesday – strengthened,
advancers led
Monday – weakened,
decliners led
SPY down .32 at 210.50 on 91.2 million shares
VIX down .01 at 12.12…
TNX down .63 at 22.05…
TLT up .90 at 122.53…
XLF down .08 at 25.21…
AAPL down 1.07 at 121.30 on 42.8
million shares
FB down 1.20 at 94.01 on 46.5 million
shares
Technical Commentary:
IWM +0.55%, QQQ -0.12%, SPY -0.15%, DIA
-0.30%.
Earnings reactions
continued to lead market action on Friday with positive gains in EXPE, CCE, RCL, TPX, WU,
FE, AMGN, UHS, MOH, YRCW, COLM and WETF.
PCLN, NCLH and CCL were higher in sympathy with earnings from
EXPE and RCL.
Losing earnings reactions included LNKD
and OCN which joined other big earnings losers this week ESI, WFM,
TWTR, YELP and BIDU.
SPY and QQQ closed
higher in the month of July after a down month in June. IWM which led the broad indices with a
gain on Friday finished lower in July.
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 Aug 3
SUM, AXTA, FSLR, LC, ETSY, FIT, HABT, NCLH, PCLN, SEDG, TSLA, GOGO,
MBLY, MNST, MYL, SUNE, UBNT, JCP, JD,
Q1 Earnings Reaction
Positive Reactions – EXPE, CCE, MOH, YRCW, WAGE, COLM, RCL,
WETF, TPX, WU, AEE, FE, PKI, TUC, AMGN, VLO, UHS, WDC, AEL, ALGT, EEFT, GILD, JBLU,
SHOP, SKX, X, SSNC, BWLD, PODD, SVU, NUVA, SCTY, ULTI, WYNN, CTRP, FISV, SLCA, SPWR,
NCLH, AMZN, P, MXIM, JNPR, V, SBUX, LUV, QLIK,
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% - EXPE, CCE, MOH, YRCW, WAGE, COLM, SHOP, SKX, X, SSYS,
BWLD, SVU, P, FTNT, SNDK, GOOG, GOOGL, HTZ, NFLX,
Negative Reactions – LNKD, FEYE, OCN, ESI, FB, MAR,
SSYS, TWTR, YNDX, YELP, BIDU, 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% - LNKD, OCN, ESI, WFM, TWTR, YELP, BIDU, 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 = 211.45, 212.55...
QQQ = 113.17, 114.39…
IWM = 123.71, 125.09…
Support Levels
SPY = 210.82, 206.80...
QQQ = 110.62, 109.78…
IWM = 121.01, 120.27...
The SPX Market Forecast is turned up at 60.
__________________
Setups
Horizontal Breakout: AIG,
CSIQ, JNPR, MFRM, SCHW, SOHU, SONC, SVXY, X, MSFT, ROST, WBA, WYNN
Bull Flag: AMBA, CYBR, DAL, GPRO, MS, PANW, SCTY, SHOP,
SLCA, SPWR, SNDK, WDC
Bear Flag: IWM, YELP
Moves
New Highs: UA, MNST,
H Breakout: P, SHAK, TLT
Bull Flag Bounce: SPLK
Bounce: FIT, MFRM,
Gap Up: EXPE, PCLN, CCE,
RCL, TPX, NCLH, WU, FE, AMGN, UHS, MOH, YRCW, COLM, WETF, CCL,
Gap Down: LNKD, OCN, FEYE
Support Break: TBT
______________________
Watch List Stocks
Leading stocks > +2% on Friday: EXPE, SHAK, RCL, TPX, FIT, NCLH, P,
MFRM, DEPO, CCL, SOHU, UPL, ACAD
Lagging stocks < -2.0% included: LNKD, SUNE, FEYE, TASR, RAX, SCTY, FSLR,
UNG, SUM, BABA
44 of 100
NDX stocks closed higher on Friday and two
were unchanged.
Leading NDX 100 stocks included: AMGN, SPLS, NFLX, DISCA, FAST, AKAM, KLAC,
PCLN
Lagging NDX stocks included: MU, LRCX, YHOO, AVGO, STX, NTAP, FB
NDX Stocks to Watch on
Monday
Moving Above 30 DMA = 3
ADBE, CHKP, TSCO
Moving Below 30 DMA = 2
MU, TSLA
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market Trend: Up
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