QQQ Drops on GOOG, FB, SBUX...IWM Gains...

Seven of nine sectors moved higher on Friday …XLE, XLF and XLU were the strongest sectors while XLK was the weakest sector.  Oil futures rose .32 to close at 43.75. 

For the week ended April 22 XLE +5.51%, XLF +2.84%, XLV +2.64%, XLB +2.56%, XLI +0.64%   

led SPY 0.57% 

Lagging sectors XLY, XLK, XLP, XLU

YTD

Leading Sectors: XLE +11.14%, XLU +9.4%, XLB +8.73%, XLI +6.41%, XLP +2.91%,

SPY +2.50%,

Lagging Sectors: XLY +1.66%, XLK +1.42%, XLV –0.22%, XLF -1.17%

Breadth strengthened as advancers led 2.36 to 1 on the NYSE and 1.72 to 1 on the NASDAQ.

Friday – strengthened, advancers led

Thursday - weakened, decliners led

Wednesday – weakened, advancers led

Tuesday – weakened, advancers led

Monday – strengthened, advancers led

SPY unchanged at 208.97 on 99.2 million shares, 15% above average volume

VIX down .73 at 13.22

TLT down .33 at 128.69…on 5.8 million shares, 11% below average volume

Technical Commentary:

IWM +0.99%, DIA +0.11%, SPY 0.00%, QQQ -1.51%,

SPY and DIA are in day two of a bull flag price pattern.  Watch for a bounce next week.

Positive earnings reactions this week continued to outperform index movement which is typical during earnings season.  Earnings continue next week.

Technical analysis based trades should be closed before earnings.

Trade what you see, not…

Stocks below support should generally be traded bearishly until a reversal pattern forms.

______________________

Strong Stocks: Setups and Moves You Can Use

Bull Flag Setups include:  SPY, DIA, XLB, XLI, XLY, AXP, CAT, HD, JNJ, MMM, WMT, ADBE, AMAT, AMZN, ATVI, BIDU, CMCSA, CTRP, CTXS, ISRG, JD, MDLZ, NVDA, PCAR, PCLN, TSCO, TSLA, TN, ULTA, VOD,

Bull Flag Bounces include: DD,

Horizontal Breakout Setups include: DISH, MXIM, NXPI, QCOM, WDC

Horizontal Breakout include: BIIB, BMRN, CELG, CSX, VIAB,

______________________

Short-term Movers:

SPX gainers:  MUR, SWN, OKE, MNK, DVN, NBL, NSC, CMA, WMB, RIG, HES, UNP, MRO, HP, MPC, MOS, FFIV, CXO, UA, STI, COP, DFS, LNC, CHK, BK, URI, DO, APA, BAC, TDC, FMC, NAVI, MS, KEY, FCX, APC, KSU, CF, NTRS, JCI, DE, EOG, RF, RRC, ZION, HAL, PFG, ETFC, FTI, TYC, MON, TSO, CNC, NEM, PXD, ADM, CSX, FLS, AXP, HAS, BHI, IRM, COF, NOV, FOSL AGN, WRK, SE, SYF, FITB, TXT, USB, UNH, GM, BBT, DIS, GS, F, OXY, MET, AN 5

SPX losers:  UAL, RCL, KMB, LB, DAL, NI, SPLS, O, CMG, ED, HST, PRGO, AEP, CCL, SCG, EXR, TRV, CMS, HRL, AEE, XEL, COL, QRVO, VTR, PSA, ADS, D, 4

NDX gainers:  ENDP, VIAB, DISH, BMRN, WDC, VRTX, CSX, TSCO, BIIB, PYPL, ALXN, GILD, ESRX, LLTC, QCOM, FOXA, MYL, 3

NDX losers:  LMCA, ILMN, NFLX, NCLH, MSFT, AAL, CHKP, GOOGL, JD, MAT, SWKS, SBUX, MNST, WFM, AAPL, NTES, NTAP, AVGO, EBAY 3

YTD:

SPX Leaders:  NEM, SWN, FCX, RRC, MUR, CHK, OKE, WYNN, URBN, EW, (329, +18 > 10p 144, +3)

SPX Losers:  HRB, RCL, AGN, ADS, WMB, MPC, LB, CF, TSO AN

NDX Leaders:  PCAR, MAT, ISRG, FOXA, AMAT, YHOO, FAST, PYPL, ULTA, DISCK, (50, +3)

NDX Losers:  LMCA, ENDP, VRTX, STX, INCY, WDC, NTES, TRIP, REGN, ILMN

DJI Leaders:  CAT, UNH, CVX, XOM, WMT, MMM, JNJ, UTX, VZ, IBM, (19, -2)

DJI Losers:  BA, INTC, GS, MSFT, AXP, NKE, JPM, TRV, DIS, GE

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 at 92. 

42 of 100 NDX stocks closed higher and one was unchanged on Friday.

58 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 3

BBBY, DISCA, KHC

Moving Below 30 DMA = 8

CA, FB, GOOG, INTC, INTU, LRCX, MSFT, SBUX

6-month Intermediate Term Market Trend: Neutral
3-day Short Term Market Trend: Neutral