Eight sectors moved
higher on Friday…the strongest sectors were XLU, XLF and XLI…the weakest sector was XLE.
Breadth strengthened as advancers led
decliners 2.15 to 1 on the NYSE and 1.54 to 1 on
the NASDAQ.
Friday – strengthened, advancers led
Thursday – weakened,
decliners led
Wednesday –
strengthened, decliners led
Tuesday – weakened,
decliners led
Monday – strengthened,
advancers led
SPY up .78 at 209.42 on 72.7 million shares, below average volume
VIX down .66 at 12.83…
TNX up .07 at 21.96…
TLT up .29 at 123.96…
XLF up .18 at 25.2507…
AAPL up .81 at 115.96 on 42.9
million shares
FB up .99 at 94.42 on 15.9 million
shares
Technical Commentary:
IWM +0.64%, SPY +0.36%, QQQ +0.15%, DIA
+0.34%.
SPY, IWM, QQQ and DIA finished higher on Friday and for
the week. Utilities, financial and
industrial sectors led on Friday for the week XLE energy +3.5%, XLU +2.7% and
XLI +1.25%.
Financials jumped on Friday with gains in
FAS, STI, AIG, ZION, ICE, MS, SCHW, ETFC, WFC and many other financial
stocks.
Market action discounts
everything is one of the foundational principles of technical analysis. 13-F filings of institutional holdings are in
for Q2 ending June 30. It is interesting
to see that MU -30.5%, AAL -24.2% and WFM -24.0% in Q2 each show institutional holdings falling in Q2 by
approximately -113 million shares, -47 million shares and -21 million shares
respectively.
Inversely GPRO +21.4%, FB +4.3% and AMBA +35.6% gained in Q2. Institutional
holdings increased +22 million shares, +44 million shares and +1.8 million
shares during the quarter in each stock respectively.
While it is not possible
to know which institutions are buying and selling and how much they are
buying and selling in real-time during the quarter, their buying and
selling cannot be hidden from the price.
Hence the trend of the price reveals if institutions are net buyers or
sellers.
Trade with the trend of
the chart you are trading and
continue to move your profit protection stops. Continue to follow your rules.
Q1 Earnings Reaction
Positive Reactions – W, VSLR, CREE, JCP, YY, CAR, CTRP, HLF, KBR,
MGM, MNST, NUS, NVDA, PCLN, VMC, ZU, 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% - W, FSLR, HLF, NUS, NVDA, ZU, EXPE, CCE, MOH,
YRCW, WAGE, COLM, SHOP, SKX, X, SSYS, BWLD, SVU, P, FTNT, SNDK, GOOG, GOOGL,
HTZ, NFLX
Negative Reactions – BABA, CYBR, RAX, XONE, JUNO,
NTES, AIG, ALL, AXTA, DIS, ETSY, GMCR, GOGO, HABT, NCLH, JD, SEDG, TSLA, UBNT,
Z, 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% - XONE, ALL, ETSY, FIT, GMCR, HABT, SEDG, SUNE, 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 = 210.57, 211.45...
QQQ = 111.81, 113.00…
IWM = 121.52, 123.71…
Support Levels
SPY = 206.80...
QQQ = 109.40, 108.22…
IWM = 119.02, 117.97...
The SPX Market Forecast is turned up at 51.
__________________
Setups
Horizontal Breakout: AIG,
GPRO, RPD, UA, PAYC, ULTA, AHS, TSS, STX
Diagonal Breakout: AMBA, CCL,
CRM, MBLY, NCLH, FB, PYPL, QQQ, RCL, SONC, SPY, STI, SPY, V, WDC,
Bull Flag: EXPE, FSLR, HOG, NKE, P, SHOP, SOHU, TLT, HAWK,
VRX, WETF, MANH, UVE, CBM, REGN, CMG, VRSN, W, X
Bear Flag: BABA
Moves
New Highs: DAL, TPX
Bull Flag Bounce: FIT,
MACD Divergence Bounce:
IWM,
Bounce: BAC, BX, C, FAS, MS, SCHW, ZION,
Gap Up: JCP
______________________
Watch List Stocks
Leading stocks > +2% on Friday: FIT, JCP, YELP, TSL, JD, MBLY, GME,
CRM, FAS
Lagging stocks < -2.0% included: NTES, SUNE, SCTY, SHOP
61 of 100
NDX stocks closed higher on Friday
Leading NDX 100 stocks included: JD, CERN, ADBE, BIDU, STX, CSCO, WDC, TRIP
Lagging NDX stocks included: VIAB, MU, WYNN, NXPI, AVGO, CMCSA, WFM
NDX Stocks to Watch on
Monday
Moving Above 30 DMA = 4
CHKP, INTC, INTU, LBTYA,
Moving Below 30 DMA = 1
CELG
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market Trend: Neutral
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