SPX Lowest Close Since Aug 25...MSFT, INTC, AMZN, FB, GOOG Lead NDX Lower...

All nine sectors moved lower on Friday…XLU, XLV and XLP were the strongest sectors while XLE was the weakest sector.  Oil fell 53 cents to close at 30.68.

                         

Breadth weakened as decliners led advancers 4.73 to 1 on the NYSE and 4.63 to 1 on the NASDAQ.

Friday – weakened, decliners led

Thursday- strengthened, advancers led

Wednesday – weakened, decliners led

Tuesday – strengthened, mixed

Monday – strengthened, decliners

SPY down 4.12 at 187.81 on 324.8 million shares, 121% above average volume

VIX up 3.07 at 27.02…

TNX down .65 at 20.33…

TLT up 1.93 at 125.75…on 13.9 million shares, 53% above average volume

XLF down .49 at 21.42…on 76.6 million shares, 45% above average volume

AAPL down 2.39 at 97.13 on 79.8 million shares, 62% above average volume

FB down 3.40 at 94.97 on 46.1 million shares, 88% above average volume

Technical Commentary:

IWM -1.62%, SPY -2.15%, DIA -2.34%, QQQ -3.10%.

Oil, China and earnings were factors in the SPX falling to its lowest close since Aug 25.  SPY finished lower for the third straight week for just the third time in the past 54 weeks.  The prior two times, the week of Jan 12 and Mar 9 SPY closed up +1.66% and +2.68%.  If that occurred next week, SPY would end the week between 190.82 and 192.84.

Energy stocks were the top three and 12 of the 22 SPX biggest losers on Friday including WMB, CNX, MRO, APC, KMI, DO, MUR, RIG, ESV, NFX, DVN and RRC.  

INTC -2.98, -9.10% reported 74 cents vs. estimates of 63 cents but revenue growth rates were lower that some had expected.  INTC seem to drag down other semi stocks on Friday as INTC, MU, QRVO and SWKS were among the top 15 SPX biggest losers.

C -2.91, -6.41% reported 1.06 eps vs. 1.04 estimate.  WFC -1.82, -3.59% reported 1.03 eps vs. 1.02 estimate, but revenue missed by $200 million.

All 30 Dow stocks moved lower led by INTC, DD, DIS, CSCO, MSFT, UTX and GS.

The NDX fell -131.89 points with MSFT, INTC, AMZN, FB, GOOG, CSCO, QCOM, CMCSA, ESRX, BIDU, AAPL, TXN, GILD, PCLN, MDLZ, contributing 70.3 of those losing points.

Only 5 NDX stocks EA, XLNX, BBBY, ISRG and HSIC moved higher on Friday.

Earnings continue on Tuesday with many companies reporting next week:

Tuesday: BAC, DAL, MS, SCHW, UNH, NFLX, LLTC, IBM

Wednesday:  GS, XLNX, FFIV

Thursday:  LUV, TRV, UAL, UNP, AXP, EFTC, ISRG, MXIM, SBUX, SLB
Friday:  GE, KSU, STI

YTD:

SPX Leaders:  FLIR, M, TWX, HAS, ED, BXLT, WEC, CHRW, SE, PEG, ISRG

SPX Losers: WMB, CNX, FCX, MRO, APC, ESV, AA, BWA, QRVO, OI, URI, THC

                        

NDX Leaders:  ISRG, DISCK, TMUS, VIAB, CTSH

NDX Losers: INCY, VRTX, MU, LBTYA, WDC, SWKS, BMRN, ADSK, NXPI, NCLH

DJI Leaders:  WMT, XOM

DJI Losers: GS, IBM, MMM, BA, AAPL, UNH, UTX, DIS, HD, NKE, CVX, TRV

Remember:  “It’s a market of stocks, not just a stock market.”

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

The SPX MFC green line is pointed up at 11.9. 

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Setups

Horizontal Breakout: FLIR, WEC, SE, PEG,

Diagonal Breakout: FSLR, MCD, DPS, NTES, ANTM, CNC, BSX, FINL, QIHU, TERP,

Bull Flag: WMT, M, TWX, DRI, EAT, FIVE, RAI, KSS, O, CPB, EQIX, STZ, SEDG, ISRG,

Potential Bullish Divergence: EMR, ATVI, CRM, SONC, V, W 

Bear Flag: MTSI

At Support: ROST, YELP, NFLX, DLTR, CCL, NKE, CELG, MTSI

Moves

New Highs: ED, TLT

H Breakout: HAS,  

D Breakout: WYNN, ABBV

Gap Down: BWA, QRVO

Bear Flag: MTSI,

Support Break: SCTY,

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5 of 100 NDX stocks closed higher on Friday.

1 NDX stock is above its 30 DMA.

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 3

CTSH, SYMC, TMUS

6-month Intermediate Term Market Trend: Neutral

3-day Short Term Market Trend: Down