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Three of nine sectors moved higher and one was unchanged on Friday…XLY, XLP and XLK were the strongest sectors while XLB was the weakest sector. Oil futures fell .77 to close at 31.96.
Three of nine sectors moved higher and one was unchanged on Friday…XLY, XLP and XLK were the strongest sectors while XLB was the weakest sector. Oil futures fell .77 to close at 31.96.
Breadth was mixed as decliners led advancers 1.01 to 1
on the NYSE and advancers led 1.24 to 1 on the NASDAQ.
Friday
– mixed, advancers led on NASDAQ
Thursday- weakened, decliners led on NASDAQ
Wednesday – mixed, advancers led
Tuesday –
strengthened, advancers led
Monday – Washington’s Birthday
Holiday
SPY down .09 at 192.00 on 114.7 million shares, 32% below average volume
VIX down 1.11
at 20.53…
TNX down .11 at 17.48…
TLT up .10
at 131.00…on 8.1 million shares, 26% below average volume
XLF down .12 at 20.98…on
74.3 million shares, 2% below average volume
AAPL down .22 at 96.04 on 35.3 million shares, 37% below average volume
FB up 1.10 at 104.57 on 32.4
million shares, 28% below average volume
Technical Commentary:
IWM +0.50%, QQQ +0.30%, SPY
-0.05%, DIA -0.50%.
QQQ
rallied on Friday and formed a bull flag price pattern. DIA and SPY also formed a bull flag price
pattern as each pulled back for a second day after
a strong three day rally on Friday, Tuesday and Wednesday.
Numerous stocks are in Bull Flag, Horizontal and Diagonal Resistance breakout setups on Friday. See our list below of Bull Flag Setups that we will be following on Monday.
SPY,
DIA, QQQ and IWM which have traded below
their 30 DMA since late December all closed above their 30 DMA on Friday.
Three sectors ros, TLT bonds rose and TNX interest rates fell.
The
NDX +0.30% and QQQ +0.30% were led by point
gainers AMZN, FB, PCLN, AMAT, GOOG,
BIDU, ATVI and CMCSA.
Twenty-eight
of 30 Dow stocks rose this week led by gains
in IBM, JPM, CSCO, HD, AXP, CAT, UNH,
DD, NKE, GE and DIS.
______________________
Bull Flag Setups include: PCAR, AKAM,
MAR, TXN, WFM, ADI, EXPE, MXIM, AVGO, MSFT, MU, FCX, CVX, GE, PG, QRCO, TRIP
Horizontal Breakout Setups include: MAT, CMCSA, AAL, FB, CTXS,
YHOO, NVDA, CTRP, LRCX, JD, AXP, DD, DIS, JNJ, JPM, UTX, VZ, CNX, CSRA, EBAY, PYPL
______________________
Short-term Movers:
SPX gainers: FCX, FOSL, WYNN, KMI, QRVO, GRMN, NAVI, GPS, LNC, WMB, SPLS,
UAL, HPQ, UNM DO, CF, ADS, JNPR, IBM, HP, PRU, CHK, URBN, KSS, OI, URI, C,
PNR, TSS, NOV, LUV, BBY, ETFC, DLPH, UA, MET, PXD, NWL, CMG, TDC, MS, CMA, MAS,
FTI, HCN, HPE, HOG, WHR, SCHW
SPX losers: SWN, DVN RRC, NFX, MRO, CERN, PRGO, RIG
NDX gainers: PCLN, NVDA, LBTYA, AMAT, BIDU, BMRN, ADSK, MU, QCOM, CTRP,
NTAP, SWKS,YHOO, JD, CTXS, INCY, TSLA, AVGO, CA, VRTX, BBBY, WDC
NDX losers: CERN, ULTA, ATVI
YTD:
SPX Leaders: NEM, KORS, ADT, FOSL, SE, CTL, TSN, URBN,
MAT, O (150, -10)
SPX Losers: CHK, ESV, MRO,
DVN, WMB, MPC, URI, RIG, TSO, NFX
NDX Leaders: MAT, FAST, PCAR, FISV, HSIC, CA, XLNX, DLTR, CMCSA,
ORLY (19, +2)
NDX Losers: INCY, TSLA, VRTX, NCLH, REGN, WDC, BMRN, TRIP,
ALXN, DISH
DJI Leaders: VZ, XOM, WMT, MMM, PG, KO, JNJ, UNH
DJI Losers: AXP, BA, GS,
INTC, JPM, DD, DIS, AAPL, PFE, UTX
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 41.
65 of 100
NDX stocks closed higher on Friday.
54
NDX stocks are above their 30 DMA.
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 5
ADSK, BIDU, CTRP, LRCX, SIRI,
Moving Below 30 DMA = 0
6-month Intermediate
Term Market Trend: Neutral
3-day Short Term Market
Trend: Up
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