Friday, June 30, 2017

NKE Jumps Higher after EPS Leads DJIA, SPX…Markets Slightly Higher on Friday…QQQ +16.17% Leads YTD…Markets Close Early on Monday 1 pm ET…



YTD Leaders as of 6/30/2017 (6 months)
QQQ +16.17%, SPY +8.17%, DIA +7.96%, IWM +4.5%
SectorsXLV +14.94%, XLK +1.315%, XLY +10.11%
DJIABA +27.02%, MCD +25.83%, AAPL +24.35%, V +20.52%, MMM +16.59%
SPX ALGN +56.16%, CNC +41.36%, BCR +40.71%, MTD +40.61%, NRG 40.46%
NDXVRTX +74.93%, TSLA +69.22%, MELI +60.68%, ATVI +59.43%, WYNN +55.03%


SPY bounces to close above channel support. 
DIA bounces forms bullish harami/inverted hammer in its bull flag pattern.
QQQ holds support in its MACD bullish divergence setup.
IWM pulls back to Wednesday’s S2 in its horizontal resistance breakout setup looking like ascending triangle.

Five sectors were positive, led by industrial XLI and materials XLB.

SPY up .45 at 241.80 on 86.8 million shares, 23% above average. 
VIX down .26 to 11.18.
Oil up 1.46 to 46.33
TLT down .29 at 125.12…on 10.1 million shares, 39% above average.

NKE +10.96% after earnings and CAT +1.73% led the DJIA.
PWR +3.26%, URI +2.74% and BWA +2.72% led the SPX.
MAT +3.16%, FAST +2.35%, TSCO +2.13% and AAL +1.41% led the NDX.

Intermediate and long term up trend intact.  3-day short term trend is neutral.

Up: DIA, SPY, QQQ
Down: IWM,

Uptrend sectorsXLV, XLF, XLI, XLRE, XLB, XLY, XLK, XLU,
Neutral sectors: XLP
Down trend sectors: XLE

Breadth strengthened as advancers led 1,780 to 1,108 on the NYSE and led 1,463 to 1,375 on the NASDAQ.

The SPY MFC green line is pointed down at 76, defensive.


Look for a potential bounce in: DIA, ADBE, IWM, PYPL, WDC, AABA, SQ, ANET, ATVI, WYNN, AMZN, JD, XLNX, KWEB, SHOP, TLT, MOMO, WYN, MMM, MCD, RCL, EXPE, AMD, BBRY, FB, RACE, V,

At support: SPY, QQQ, XLY, MAR, EA, NVDA, NFLX, MNST, GOOGL, ADSK, AVGO, AAPL, TSLA,

One Day Pullback: C, BAC, WFC, SCHW, MS,

Bounces included: CC, HUN,

Potential Breakouts include: CC, HUN, BBY, TAL, BABA, BIDU, WMT,

Breakouts: CSX, ETFC,

Break of short-term support: DDD, WB, LRCX, KLAC, AMAT, MCHP, SWKS,

Bear flag: COST,

New Highs:


56 of 100 NDX stocks closed higher on Friday.

36 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 4
BMRN, CERN, EBAY, FAST

Moving Below 30 DMA = 3
INCY, MU, WDC,

The intermediate and long-term trends are still up.

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


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Thursday, June 29, 2017

NDX Drops 100 Points for Second Time in Three Days…Fueled by -31 points from AAPL, MSFT, GOOG, AMZN and FB…



SPY penetrates and rebound to close at channel support.  SPY -1.49% from June 9 all-time high.
DIA pulls back in its bull flag pattern.
QQQ pulls back in its MACD bullish divergence setup.
IWM pulls back to Wednesday’s S1 in its horizontal resistance breakout setup.

Two sectors were positive, led by financial XLF and energy XLE.

SPY down 2.14 at 241.35 on 106.9 million shares, 48% above average. 
VIX up 1.41 to 11.44.
Oil down .01 to 44.87
TLT down 1.06 at 125.41…on 9.1 million shares, 23% above average.

JPM +1.48% and GS+0.53% were the only gainers in the DJIA.
AYI +10.45% after earnings, SWN +6.00% and FOSL +5.23% led the SPX.
SPX advancing issues 105, declining issues 393.
Only eight stocks rose in the NDX.

Intermediate and long term up trend intact.  3-day short term trend is down.
Up:
Down: IWM, DIA, SPY, QQQ

Uptrend sectorsXLV, XLF, XLI, XLU, XLRE, XLB, XLY, XLK,

Breadth weakened as decliners led 2,060 to 870 on the NYSE and led 1,772 to 1,054 on the NASDAQ.

The SPY MFC green line is pointed down at 78defensive.


Look for a potential bounce in: ADBE, ANET, ATVI, WYNN, AMZN, JD, XLNX, KWEB, SHOP, TLT, MOMO, WYN, MMM, MCD, RCL, EXPE, HUN, AMD, DDD, BBRY, FB, RACE, DIA,

At support: SPY, QQQ, XLY, MAR, EA, NVDA, NFLX, MNST, GOOGL, ADSK, AVGO, AAPL, TSLA,

One Day Pullback: IWM, V, PYPL, WDC, AABA, SQ, CC,

Bounces included: BIDU

Potential Breakouts include: BIDU, WMT, BBY, TAL, BABA, CSX,

Breakouts: C,

Break of short-term support: WB, LRCX, KLAC, AMAT, MCHP, SWKS,

Bear flag: COST,

New Highs:


8 of 100 NDX stocks closed higher on Thursday.

35 NDX stocks are above their 30 DMA.


NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 0

Moving Below 30 DMA = 23
AMZN, ATVI, BMRN, CERN, CHKP, CSCO, CTAS, CTSH, DISCA, DISH, EBAY, FB, FISV, HSIC, ILMN, JD, LVNTA, MNST, NTES, NVDA, VIAB, VOD, XLNX


The intermediate and long-term trends are still up.

6-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Down


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Wednesday, June 28, 2017

NDX Recovers 81 of Tuesday’s 105 Point Drop…Led by 28 points from AAPL, MSFT, GOOG, AMZN and FB…IWM Leads Stock Rally after News Cycle Selloff Exhausts…




Check out these hammer flagsADBE, ANET, ATVI, WYNN, AMZN, JD, XLNX, KWEB, SHOP, TLT,

SPY bounces off of channel support.
DIA bounces in its bull flag pattern.
QQQ makes a MACD bullish divergence bounce at support.
IWM bounces in its bull flag, now a horizontal resistance breakout setup.

Nine sectors were positive, led by financial XLF and technology XLK.

SPY up 2.16 at 2443.49 on 70.0 million shares, 2% below average. 
VIX down 1.03 to 10.03.
Oil up 1.16 to 44.88
TLT down .42 at 126.47…on 7.3 million shares, at average.

CAT +2.42% and JPM +2.01% led the DJIA.
SPLS +8.41% TRIP +4.52% and AA +4.17% led the SPX.
JBHT +4.20% PCAR +4.08% LBTYA +3.79% and NVDA +3.53% led the NDX.

Intermediate and long term up trend intact.  3-day short term trend is neutral.

Up: IWM, QQQ, SPY, DIA
Down:

Uptrend sectorsXLV, XLF, XLI, XLU, XLRE, XLB, XLY, XLP, XLK,

Breadth strengthened as advancers led 2,246 to 708 on the NYSE and led 2,089 to 736 on the NASDAQ.

The SPY MFC green line is pointed down in upper zone at 81.


Look for a potential bounce in: ADBE, ANET, ATVI, WYNN, AMZN, JD, XLNX, KWEB, SHOP, TLT, MOMO, WYN, MMM, MCD, RCL, EXPE, HUN, AMD, DDD, BBRY, FB, RACE,

At support: MAR, WB, EA, NVDA, NFLX, MNST, GOOGL, ADSK, AVGO, AAPL, LRCX, KLAC, AMAT, MCHP, TSLA, SWKS, BIDU

One Day Pullback:

Bounces included: IWM, DIA, SPY, QQQ, XLY, C, V, PYPL, WDC, AABA, SQ, CC,

Potential Breakouts include: WMT, BBY, TAL, BABA,

Breakouts: CSX,

Break of short-term support:

Bear flag: COST,

New Highs:


94 of 100 NDX stocks closed higher on Wednesday.

57 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 19
AMZN, ATVI, BMRN, CSCO, CHKP, CHTR, CTAS, CTSH, DISH, FB, FISV, HSIC, ILMN, LVNTA, MYL, NVDA, PCAR, VOD, XLNX

Moving Below 30 DMA = 0


The intermediate and long-term trends are still up.

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


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Tuesday, June 27, 2017

NDX Down -105 Led by -39 points from AAPL, MSFT, GOOG, AMZN and FB…Stocks Selloff after Yellen Speaks…SPY -1.4% Last Six Days, Prepare to be Defensive…


$2.7 billion fine sends GOOGL and NDX lower...QQQ back at support after GOOGL fine and Yellen Comments…
SPY is forming a similar low and is shifting from flag to channel.
DIA is in a bull flag pattern.
IWM forming bull flag setup.

One sector was positive, led by financial XLF and energy XLE.

SPY down 1.96 at 241.33 on 82.2 million shares, 15% above average.  As of today’s close SPY is down -1.4% from its all-time high on June 19.
VIX up 1.16 to 11.06.
Oil up .23 to 43.72
TLT down 1.37 at 126.89…on 8.3 million shares, 15% above average.

JPM +0.93% and WMT +0.68% lead the DJIA.
AMD -4.83%, NFLX -4.11% and NVDA -3.66% largest percentage losers in the SPX.
STX -6.79%, JD -5.55%, MELI -4.50% and BMRN -4.11% largest percentage losers in the NDX.

Intermediate and long term up trend intact.  3-day short term trend is down.

Up:
Down: DIA, SPY, IWM, QQQ,

Uptrend sectorsXLV, XLF, XLI, XLU, XLRE, XLB, XLY, XLP, XLK,

Breadth weakened as decliners led 1,910 to 1,013 on the NYSE and led 1,862 to 959 on the NASDAQ.

The SPY MFC green line is pointed down in upper zone at 80, prepare to become defensive.


Look for a potential bounce in: DIA, C, MMM, MCD, V, RCL, EXPE, ADBE, WDC, HUN, ANET, AMD, AABA, SHOP, DDD, BBRY, FB, ATVI, AMZN, PYPL, SQ, RACE, MOMO, KWEB, XLNX,

At support: SPY, QQQ, XLY, MAR, WB, EA, CC, NVDA, NFLX, MNST, GOOGL, ADSK, AVGO, AAPL,

One Day Pullback: IWM, JD, WYN, TLT,

Bounces included: WMT, BBY,

Potential Breakouts include: TAL, CSX, WYNN, BABA,

Breakouts:

Break of short-term support: LRCX, KLAC, AMAT, MCHP, TSLA, SWKS,

Bear flag: COST, BIDU,

New Highs:


7 of 100 NDX stocks closed higher on Tuesday.

38 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 0


Moving Below 30 DMA = 22
AMZN, ATVI, AVGO, BMRN, CSCO, CHKP, CTAS, CTSH, EA, FB, FISV, HSIC, IDXX, ILMN, INTU, MSFT, MYL, NVDA, PAYX, STX, VOD, XLNX


The intermediate and long-term trends are still up.

6-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Down


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Monday, June 26, 2017

IWM Leads… SPY, DIA in Bull Flag Price Pattern…



SPY and DIA in a bull flag pattern
QQQ is a second chance breakout setup
IWM bounced and now a breakout setup.

Seven sectors were positive, led by utilities XLU and financial XLF.

SPY up .16 at 243.29 on 56.7 million shares, 20% below average
VIX down -.12 to 9.90.
Oil up .32 to 43.49
TLT up .48 at 128.26…on 5.5 million shares, 23% below average.

GS +1.50% and DIS +1.16% lead the DJIA.
FE +4.08%, EQT +3.84% and CVS +3.50% led the SPX.
FOXA +3.13%, VIAB +2.87%, DLTR +2.84% and MU +2.43% led the NDX.

Intermediate and long term up trend intact.  3-day short term trend is neutral.

Up: IWM, SPY, DIA
Down: QQQ,

Uptrend sectorsXLV, XLF, XLI, XLU, XLRE, XLB, XLY, XLP, XLK,

Breadth weakened as advancers led 1,911 to 1,022 on the NYSE and led 1,512 to 1,284 on the NASDAQ.

The SPY MFC green line is pointed down in upper zone at 83, bullish.


Look for a potential bounce in: SPY, DIA, C, MMM, RCL, LRCX, DDD, CC, KLAC, MAR, WB, EA, NVDA, AMAT, MCHP, BBRY, WMT,

One Day Pullback: EXPE, ADBE, WDC, ANET, QQQ, NFLX, MNST, ADBE, HUN, WDC, GOOGL, AABA, MCD, SHOP,

Bounces included: XLY, TAL, BBY, COST, CSX,

Break of short-term support:

Potential Breakouts include: IWM, JD, TSLA, FB, ADSK, ATVI, SWKS, AMZN, PYPL, BABA, SQ, RACE, MOMO, KWEB, BIDU, AVGO, AAPL, XLNX, GOOGL, V, AMD,

Breakouts:

New Highs: WYN, TLT,

37 of 100 NDX stocks closed higher and three were unchanged on Monday.

60 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Tuesday:
Moving Above 30 DMA = 6
CSX, DISCA, EA, FOXA, LBTYA, VIAB

Moving Below 30 DMA = 4
ADI, ADSK, CTRP, GOOG


The intermediate and long-term trends are still up.

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


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