MSFT, AMZN, GOOGL EPS Lead...Market Higher for Fourth Straight Week...FB New High Closes Above $100...

Six sectors moved higher on Friday…For the week XLK, XLI and XLF were the strongest sectors while XLV was the weakest sector.

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Positive earnings gaps on MSFT, AMZN and GOOGL caused the gap on XLK on Friday, while steady non-earnings gains from AAPL, AVGO, INTC, FB, INTU, EA and ADP contributed to XLK being the leader sector this week.

Breadth weakened on the NYSE and strengthened slightly on the NASDAQ as advancers led decliners 1.45 to 1 on the NYSE and 1.96 to 1 on the NASDAQ.

Friday – weakened on the NYSE, advancers led

Thursday – strengthened, advancers led

Wednesday – weakened, decliners led

Tuesday – strengthened, mixed

Monday – weakened, mixed

SPY up 2.25 at 207.51 on 144.4 million shares, 12% above average volume

VIX up .01 at 14.46…

TNX up .58 at 20.83…

TLT down 1.06 at 123.20…on 7.0 million shares

XLF up .26 at 24.14…on 37.2 million shares, average volume

AAPL up 3.58 at 119.08 on 59.3 million shares, 20% above average volume

FB up 2.52 at 99.67 on 42.8 million shares, 54% above average volume

Technical Commentary:

QQQ +2.80%, SPY +1.10%, IWM +0.99%, DIA +0.90%.

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The SPX Market Forecast is at 95.7.

Strong earnings reactions from MSFT, GIME, UAL and AMZN…

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VRSN, GOOGL, JNPR, ETFC…

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and RCL helped lift the market as big money rotated from negative reactions on SKX, WHR, STT, P and other losing stocks on Friday.

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Going into Next Week:

Next week look at the financial sector which has been one of the weakest sectors for opportunities.  This week FAS and XLF broke through horizontal resistance and many financial stocks have already reported earnings.

Look at our list of Bull Flag and Horizontal Breakout Setups for next week for potential entry signals.  Also keep an eye on the stocks our New High list today as they could be potential Bull Flag Setups sometime in the next ten trading days.

Trade with the trend of the chart you are trading and continue to move your profit protection stops.  Continue to follow your rules.

Earnings this Week:

Monday – HAL, HAS, HA, IBM, MS, STLD, UTX, ZION

Tuesday – ATI, CMG, HOG, IBKR, ISRG, LMT, MANH, RF, TRV, VZ, VMW, YHOO

Wednesday – ABT, AXP, BHI, BA, CA, CTXS, KO, EBAY, GM, LVS, OSTK, SNDK, TXN, TSCO,

Thursday – MMM, ALK, AMZN, T, ETFC, FCX, FTNT, GIMO, JNPR, LLY, NDAQ, NUE, P, SIRI, SKX, LUV, SRCL, SWK, UA, UAL, VRSN

Friday – AAL, RCL, STT, VFC, WHR

Earnings next Week:

Monday – BRCM, CHKP, GLW, MGM, PBR, SOHU, SWI

Tuesday – AAPL, AKAM, BMY, DD, FISV, GILD, GRUB, JBLU, NCLH, PCAR, TWTR, SLCA, UHS, VDSI, VRSK, YNDX, MRK, PFE, CMCSA, ESRX, 

Wednesday – AMGN, AXTA, BWLD, CAVM, GRMN, GD, GPRO, MCHP, NXPI, ORLY, PYPL, VLO, VLKAY, YELP, MAR, CRUS,

Thursday – AET, ALXN, MO, BIDU, CME, DB, EA, EXPE, FSLR, GT, LC, LNKD, MA, SCTY, TPX, VA, WWE
Friday – ABBV, CBOE, CVX, CVS, XOM, MYL, PSX 

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Setups

Horizontal Breakout: ADBE, CELG, JD, LRCX, SWKS, YHOO, DAL, BAC, BX, CCL, CIEN, CRM, ETFC, LVS, STI, SVXY, ZION

Bull Flag: PCLN, CSIQ, GLD, HPQ, MS, NKE, QIHU, SONC, TSL, W,

Potential Bullish Divergence: BBY, PLAY

Bear Flag: IBM, UBNT,

Moves

New Highs: AMZN, EBAY, FB, GOOGL, INTC, MSFT, NTAP, QCOM, SBUX, SNDK, TXN, DAL, FAS, JNPR, NTES, RCL, SINA, VRSN

H Breakout: BABA, C

Bull Flag Bounce: MU, WYNN, LVS

Bounce: NFLX, X,

Gap Up: QQQ, SPY, GIMO, MSFT, UAL, AMZN, GOOGL, ETFC, JNPR, RCL, SCHW,  

Gap Down: P, SKX, FTNT, SRCL, VFC

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75 of 100 NDX stocks closed higher on Friday.

82 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 7

BBBY, ESRX, JD, MU, PCAR, VRTX, WYNN

Moving Below 30 DMA = 2

CA, SRCL

6-month Intermediate Term Market Trend: Neutral

3-day Short Term Market Trend: Up