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Exchange NYSE NASDAQAdvancers 1,189 1,268
Decliners 1,814 1,343
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Index Direction ConfirmationVIX Up Yes – SPX
SOX Up Yes – COMPQ
Leading stocks on Friday included FAZ, WFMI, SINA, MOS, NTES, TBT, NTRI, NFLX, ICE, PCP, FFIV, PCLN, HSY, DE, DECK, GES, SNDK, CREE, USD, UAL, LXK, SKX, RVBD, CRM, MHS, AGU, CAM
Losing stocks included TSL, BAC, STI, FAS, VMW, ZION, UCO, UNG, GME, DLR, HAS, NETL, BA, AKS, POT, CRUS, USO, SWK, ATI, JEC, IPI, TLT, LVS, HANS, UNP, VECO, BYI, CLF, FCX, PNC, GR
Interest rates rose, bonds moved down, the EURO pulled back forming a dark cloud cover, the SOX closed higher and the VIX closed lower -0.85 at 19.03.
Seven of nine sectors moved higher on Friday but could not lead the SPX through its 1,182 horizontal resistance in the face of the weakness in Financials XLF -1.71% for the second straight day and Industrials XLI -0.62%. Bank stocks led XLF lower over concerns that foreclosures would impact bank earnings.
Decliners led advancers 1.52 to 1 on the NYSE. The rally was not as broad as the rising sectors might on the surface suggest.
SPY traded 243.6 million shares.
The GOOG gap following Thursday's after the close earnings clearly led tech stocks and the NASDAQ higher on Friday. This was especially evident in the large NASDAQ leaders like AAPL, AMZN and PCLN. AAPL with report earnings Monday after the close.
SPX
Resistance: 1,182, 1,190
Support: 1,170, 1,148, 1,130
Enter bullish trades with a bounce off support and a break above the high of the low day or a break out of horizontal resistance.
Take bearish entry signals on a bounce down from resistance or a close below of the low of the high day.
The short term 3 day trend is up.
The three-month trend is neutral.
The twelve-month trend is up.
Continue to focus on and trade setups on the charts of the stocks you watch. Trade with the trend of the chart and follow your rules.
AAPL +12.43 – large white candle
QCOM -0.25 – small bearish engulfing
GOOG +60.52 – gap up with potential hanging man
BIDU +0.46 – black candle
NDX 100 stocks stronger than the NDX include: STX, GOOG, AMZN, AAPL, MXIM, AMGN, VRTX, CMCSA, LBTYA, LINTA, GILD, LOGI, CTSH, AKAM and ADBE.
Stocks weaker than the NDX: APOL, ERTS, INFY, FWLT, MICC, INTU, IACI, FAST, HANS, ATVI, CERN, RIMM, URBN, QCOM and DTV.
Stocks to Watch on Monday
Holding Above 30 DMA
HLF, PCLN, AGU, MCD, LVS, NFLX, CMG, FCX, SINA, VOD, AIV, DE, DHR, DOW, PCP, SWK, UNP, URE, WLT, WMT, A, HAS, IPI, JEC, LXK, CAT, ICE, FLS, MHS, ATW, STI, ACN, AMX, GES, RMBS, NDAQ, UAL, USD, MA, NETL, ESI, HSY, CHL, FDX, NTRI, AMD, TIE, V, ATI, BA, DECK, GR, UCO, USO, WHR, BYI, CLF, GS, SPG, HANS, MOS, SNDK, SWN, UPS, VECO, SKX, CSTR, CREE, RVBD, TBT, WFMI, NYX
Moving Above 30 DMA = 3
FAZ, NTES, WMT
Moving Below 30 DMA = 5
AKS, FAS, POT, TSL, ZION
Staying Below 30 DMA
ESI, STI, BAC, GME, CRUS, X, FFIV, TLT, NYX, PNC, DLR, VMW, CRM, GMCR, UNG
Intermediate Term Market Trend: Neutral
Short Term Market Trend: Up
3 comments:
Hi Dave, Missed you on the WSWU. It was a good discussion, but would like your thoughts on the coming week. Looking forward to Monday. Trend is my friend until it ends. Have a good weekend. Judy
Dave, we, the RTT Group, was so privileged to having you for the past Friday and Saturday in Orlando, FL. I was just wondering how did you find the time to post this info that I thought you're in the restaurant dining with us. The point is: we appreciate your hard work and willingness to help others to become successful. See you tomorrow.--Jessica
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