All nine sectors moved
higher on Friday…the strongest sectors were
XLK…XLY…and XLB…the weakest sector was XLU.
Breadth strengthened as advancers led
decliners 3.99 to 1 on the NYSE and
3.68 to 1 on
the NASDAQ.
Friday – strengthened, advancers led
Thursday – strengthened,
advancers led
Wednesday – weakened,
decliners led
Tuesday – strengthened,
advancers led on NYSE
Monday – weakened,
decliners led
SPY up 2.58 at 207.48 on 129.4 million shares
VIX down 3.14 at 16.83…
TNX up 1.16 at 24.17…
TLT down 1.87 at 116.05…
XLF up .29 at 24.64 on 29.3 million shares
AAPL up 3.21 at 123.28 on 61.3
million shares
FB up 2.07 at 87.95 on 23.2 million
shares
Technical Commentary:
QQQ +1.52%,
IWM +1.39%, SPY +1.26%, DIA +1.23%.
The NDX led a strong and broad rally
on Friday
with large point gains in AMZN, FB, AAPL, GOOG, CMCSA, AMGN, CSCO, REGN,
COST, ESRX, QCOM, AVGO, INTC and TXN which accounted for just 26 of
the 68 point NDX gain.
Earnings unofficially kicked off with AA and a
positive earnings reaction on Thursday.
CUDA had a negative earnings reaction on Friday in reaction to guidance.
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 13
Tuesday – CSX, FAST, JNJ, JPM, WFC, YUM
Wednesday – BAC, DAL, INTC, NFLX,
USB
Thursday – C, EBAY, GOOGL, GS, KEY, MAT,
SCHW, SLB, UNH
Friday – GE, HON, STI
Q1 Earnings Reaction
Positive Reactions – NKE, AA
More than 10% -
Negative Reactions – CUDA, MU
More than -10% - MU
Reversal in progress –
Reversal of Initial
Reaction –
Short-term Chart Targets:
SPY = 208.02, 209.16,
209.96...
QQQ = 108.01, 108.86, 109.66…
IWM = 124.51, 125.63…
Support Levels
SPY = 205.76, 204.22...
QQQ = 106.55, 105.75…
IWM = 122.82, 121.53...
The SPX Market Forecast turned up and is at 21.
___________________
Setups
Horizontal Breakout: SPY,
QQQ, AIG, CCL, CTRP, FEYE, JNPR, NKE, NTES, SCHW, STI, SUNE, TASR, UA, UBNT,
Diagonal Breakout: AMBA,
SVXY, W,
Bull Flag: ASNA, JCP,
Potential Bullish
Divergence: AXTA, CIEN, SUM
Bear Flag: ATI, BABA, BAC, BX, C, CSIQ, CYBR, ETFC, GLNG, GOGO, GPRO,
HPQ, TSL
Moves
New Highs: GME, MBLY,
NCLH, TPX,
H Breakout: CCL, CRM,
DAL, IBM, NCLH, PANW, RCL, SPLK, V,
D Breakout: IWM, AIG, KKD, RCL, SCHW
Bull Flag Bounce: JUNO,
MACD Divergence Bounce:
EXPE, FAS, MS, SCTY,
Bounce: SEDG, SWKS, VSLR, ZION,
Gap Up: TBT, UNG,
Gap Down: TLT
Support Break: Z
______________________
Watch List Stocks
Leading stocks > +2% on Friday: SEDG, SWKS, RCL, XONE, DAL, UAL, SPLK,
SUNE, FAS, VSLR, PANW, JUNO, QIHU, EXPE, SSYS, AMBA, CTRP, CIEN, UBNT, LOCO,
UA, V, ZION, SCHW
Lagging stocks < -2.0% included: Z, VXX, YOKU, UPL, SINA, SLCA, MTW, SOHU
92 of 100
NDX stocks closed higher on Friday.
Leading NDX 100 stocks included: AVGO, WBA, AAL, LBTYA, KHC, REGN, VOD, TRIP,
AAPL, NXPI, MU, MAR , FB
Lagging NDX stocks included: BIIB, MAT, WYNN, GMCR, SNDK, WDC
NDX Stocks to Watch on
Monday
Moving Above 30 DMA =
10
AAL, ATVI, CA, CHRW, ESRX, FOXA, INTU, REGN, TSCO, TSLA
Moving Below 30 DMA = 1
BIIB
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market Trend: Neutral
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