Friday, July 14, 2017

Earnings Season Starts with JPM, C, WFC, PNC Open Lower and Bounce…SPY, DIA Breakout to New All-time High…



SPY and DIA horizontal breakout to new all-time closing high. 
QQQ horizontal breakout setup.
IWM horizontal breakout setup.

Nine sectors were higher, led by real estate XLRE +1.00% and technology XLK +0.89%

SPY up 1.14 at 245.56 on 60.2 million shares, 8% below average. 
VIX down .39 to 9.51.
Oil up .58 to 46.68
TLT up .15 at 123.33…on 6.5 million shares, 16% below average.

WMT +1.72% and MSFT +1.41% led the DJIA, 25 advancers.
NTAP +5.46%, NRG +4.68% and FOSL +3.37% led the SPX.
STX +3.08%, NVDA +2.69%, CTRP +2.35% and TSCO +2.32% led the NDX.

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

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

Uptrend sectorsXLI, XLB, XLF, XLV, XLY, XLK
Neutral sectors: XLRE, XLU, XLP
Down trend sectors: XLE

Breadth strengthened as advancers led 2,100 to 811 on the NYSE and led 1,558 to 1,217 on the NASDAQ.

The SPY MFC green line is pointed up at 76, bullish.


Look for a potential bounce in: C, JPM, WFC, PNC, MS, SCHW, BAC, ADP, JBHT, BBRY, LUV, UAL, ALK, AMD, MOMO, MNST, CCL, MCD, XLNX, SHOP, EA,

At support: RCL, MAR, WYNN,

One Day Pullback:

Bounces included: DDD, MU,

Potential Breakouts include: QQQ, IWM, XLY, WMT, FAS, KWEB, CC, ADBE, ATVI, WDC, EXPE, AABA, CSX, KLAC, AVGO, AMZN, MCHP, ANET, GOOGL, MMM, JD, WYN, HUN, NVDA, AAPL, ADSK, SWKS, WB, TSLA, LRCX,

Breakouts: SPY, DIA, NFLX, AMAT, BIDU, KLAC, AVGO, V, HUN, NVDA, AAPL,

Break of short-term support:

Bear flag: COST, TLT,

New Highs: FB, WUBA, ETFC, BABA, TAL, V, AAL, RACE, SQ, BA, CSX, WDC, PYPL,


82 of 100 NDX stocks closed higher and one was unchanged on Monday.

69 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 9
CSCO, CTXS, HOLX, HSIC, IDXX, KLAC, MU, QCOM, VIAB

Moving Below 30 DMA = 1
WYNN                                                                 


The intermediate and long-term trends are still up.

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

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2 comments:

K said...

Dave,

Thank you! And the Workshop was great! :)

Kathy :)

CS said...

Kathy,

You are welcome!