Just one of nine
sectors moved higher on Friday …XLP, XLU and XLB were the strongest
sectors while XLE was the weakest sector for the third straight
day. Oil futures fell 1.58 to close at 48.88,
after closing above 50 for three straight days.
For the week ended June 10, XLE +1.25%, XLP +1.06%, XLU
+0.98%, XLI +0.86%,
XLB +0.17%, XLK +0.05%,
SPY
-0.10%,
Lagging sectors XLV -0.71%, XLY -0.78%, XLF
-1.49%,
YTD 111
Leading Sectors: XLU +16.84%, XLE +11.69%,
XLB +9.95%, XLP +7.21%,
XLI +6.53%,
SPY +3.04%,
Lagging Sectors: XLK +2.64%, XLY +0.42%,
XLV -0.35%, XLF -2.81%, 
(click image to enlarge)
XLU,
XLE, XLB, XLP, XLI and XLK gain for the week and XLV
and XLY were lower.
(click image to enlarge)
XLF and interest rates TNX
move lower for the week as bonds TLT
and volatility VIX rise.
(click image to enlarge)
Breadth weakened as decliners led 2,427 to 584 on
the NYSE and led 2,018 to 551 on the NASDAQ.
Friday
– weakened, decliners led, +1
Thursday – weakened, decliners led, +3
Wednesday – strengthened, advancers led, +8
Tuesday –
weakened, advancers led on the NYES, +5
Monday – strengthened, advancers led, +8
SPY down
2.01 at 210.07 on 113.8 million shares, 44% above average volume
VIX up
2.39 at 17.03
TLT up
.65 at 134.78…on 6.9 million shares, 2% above average volume
Technical Commentary:
DIA -0.65%, SPY -0.95%, QQQ -1.13%, IWM -1.36%,
(click image to enlarge)
We observed in Thursday's post... "Be on
alert for a potential pullback following Monday’s breakout." The pullback...it happened on Friday.
DIA,
SPY, QQQ and IWM each pulled back on Friday and are
forming a potential bull flag
pattern. Wait for the pullback to complete and bounce.
(click image to enlarge)
DIA,
SPY and IWM weekly charts reveal a modest pullback on Friday.
Earning’s Announcements:
Positive Reactions: HRB,
Negative Reactions:
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.
______________________
Bull Flag Setups include: SPY, DIA,
IWM, WFM, CAT, AVGO, DD, AMAT, CTXS, STLD, NUE, AKS, DISH, DLTR, EA, ESRX,
NVDA, TXN, WDC, STX, UNH, V, PCLN, AMZN, QQQ, SVXY, X, SCHN, SWN, RRC, CVX,
MMM, MRK, XOM, CMCSA, INCY, MU, MXIM, MYL, NXPI, PAYX, TMUS, ULTA, VIAB, VRTX,
Bull Flag Bounces include:
Horizontal Breakout Setups include: NEM, WYNN, IRM, KHC, FISV,
KO, DPS, MCD, AAL, MDLZ, MNST
Horizontal Breakout include: PG, VZ, COST, WBA
New Highs include: JNJ, HRB
______________________
Short-term Movers:
SPX gainers: HRB, RIG, HP, SJM, NOV, FFIV, CHK, DOV, UA, NBL, LUV, CNC,
HE, UAL, 4, 14
SPX losers: NRG, SWN, URBN, BBY, MNK, PSA, AMG, FCX, CMG, IVZ, ABBV,
EXR, LM, BEN, KMX, CSRA, TSN, TROW, BAC, -4, 19
NDX gainers: AAL, WBA, 3, 2
NDX losers: BIIB, ALXN, BMRN, CTRP, JD, DISCA, VOD, NTES, REGN, VIAB,
ENDP, LMCA, LBTYA, NFLX, MU, BIDU, INCY, QVCA, CELG, PYPL, NXPI, TMUS, ADSK,
FAST, -3, 24
YTD:
SPX Leaders: NEM, SWN, OKE, RRC, FCX, WYNN, EQT, COG, SE,
IRM (322, -10 > 10p 188, +6)
SPX Losers: PRGO, MPC, LB, CF,
SIG, HRB, RCL, TSO, FSLR, ABC
NDX Leaders: NVDA, ULTA, AMAT, CHTR, DLTR, ISRG, KHC, FISV,
PCAR, CA (48, -4, >10p 20)
NDX Losers: ENDP, LMCA, STX,
JD, REGN, ALXN, VRTX, ILMN, INCY, NCLH
DJI Leaders: UNH, WMT, XOM, VZ, JNJ, CVX, MMM, CAT, IBM,
PFE (19, 0)
DJI
Losers: GS, NKE, BA, DIS, MSFT, INTC, AXP, AAPL, GE, JPM
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 SPY MFC green line is pointed down at 91, bullish.
5 of 100
NDX stocks closed higher on Friday.
68
NDX stocks are above their 30 DMA.
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 0
Moving Below 30 DMA = 14
AMGN, CELG, CTSH, FB,
FOXA, LBTYA, LMCA, LVNTA, NFLX, ORLY, PCAR, SIRI, TSLA, YHOO
6-month Intermediate
Term Market Trend: Neutral
3-day Short Term Market
Trend: Down
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