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Exchange NYSE NASDAQAdvancers 2,221 1,900
Decliners 751 743
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Index Direction Confirmation VIX Down Yes – SPX
SOX Up Yes – COMPQ
Leading stocks on Friday included IPI, AGU, MOS, ATI, SNDK, WLT, SKX, DE, FCX,CLF, LVS, AKS, UCO, POT, TIE, X, PCLN, DOW, VECO, UAL, WHR, DECK, AMD, CAM, BUCY, VMW, ESI, FDX, RVBD, USD, ATW, HLF, CAT, FLS, USO, CRUS, HSY, A, SWN, SINA, NETL, AMX, DHR, NTES, BYI, UNP, JEC, SWK, GES, BA, UNG, GS
Losing stocks included FFIV, GMCR, WFMI, TSL, RMBS, LXK, NFLX, BAC, FAZ, TLT, MHS, STI, CMG, SPG, ACN, CHL, GR, PNC, DLR
Interest rates were flat, bonds moved lower, the EURO rose, the SOX moved higher and the VIX hit a five month low.
Friday’s rally was broad as all sectors moved higher with Materials XLB +1.97%, Energy XLE +1.25% and Consumer Discretionary +1.03% leading. Advancers led decliners 2.95 to 1 on the NYSE.
The Unemployment Report was worse than expected and yet the SPX closed higher. Translation, the jobs report did not give institutions any new negative information that from their perspective would be a reason to become a net seller instead of a net buyer as they have been since September 1. As a result of not having any new negative reason to become net sellers the direction of their trading or the trend stays the same for now.
Dave’s Insight: The trend is your friend until the end.
With the SPX making a new high close several leading stocks also made new highs including FCX, DOW, FLS, UNP, ACN, AMX, UAL and HLF. Several stocks gave continuation breakout entry signals on Friday including
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Flag entry signals on Friday included LVS, WYNN, PCLN, MICC, SINA, CAM, AMD and SWK.
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PCLN, AKAM and VMW gave bounce entry signals on Friday.
NTAP, BIDU, CRM and RVBD moved higher and are Bounce Setups for Monday.
CTXS, FFIV, NFLX and AMZN moved lower and are Bounce Setups for Monday.
Breakout Setups for Monday: PCP, URE, DHR, AIV, A, MHS, USD, NDAQ, CHL, FDX, GR, BA, WHR, GS, ZION, VECO
Bull Flag Setups for Monday: BIDU, CTSH, EXPE, ESRX, ILMN, INFY, NVDA, SHLD, NTAP, RVBD, NFLX, CMG, TSL, VOD, LXK, STI, RMBS, MA, GME, V, NTRI, BYI, CSTR
SPX
Resistance: 1,170, 1,182
Support: 1,148, 1,130, 1,115
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.
Wait to take bearish entry signals for a bounce down from resistance or a close below of the low of the high day.
The VIX fell -0.85 to 20.71, its lowest close since May 3.
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 +4.85 – new high close, white candle did not confirm potential hanging man
QCOM +0.21 – white spinning top
GOOG +6.34 – hammer
BIDU +0.13 –hammer
NDX 100 stocks stronger than the NDX include: WYNN, DELL, LOGI, PCLN, RIMM, JOYG, STX, FWLT, NIHD, STLD, PCAR, CA, AKAM, NWSA and YHOO.
Stocks weaker than the NDX: ADBE, LRCX, FLEX, FSLR, ADSK, KLAC, COST, CTXS, HOLX, ORLY, ALTR, URBN, EBAY, ILMN and AMZN.
Stocks to Watch on Monday
Holding Above 30 DMA
HLF, PCLN, RVBD, AGU, MCD, POT, LVS, NFLX, CMG, TSL, FCX, SINA, VOD, AIV, BUCY, CAM, DE, DHR, DOW, PCP, SWK, UNP, URE, WLT, WMT, A, HAS, IPI, JEC, LXK, CAT, ICE, FLS, MHS, ATW, STI, ACN, ATI, AMX, GES, PNC, RMBS, ZION, NDAQ, UAL, USD, MA, NETL, ESI, GME, HSY, CHL, FDX, NTRI, AMD, TIE, V, ATI, BA, DECK, GR, UCO, USO, WHR, AKS, BYI, CLF, GS, SPG, HANS, MOS, SNDK, SWN, UPS, VECO, SKX
Moving Above 30 DMA = 2
CSTR, X
Moving Below 30 DMA = 3
BAC, FFIV, TLT
Staying Below 30 DMA
NYX, PNC, CREE, CRUS, DLR, VMW, WFMI, NTES, CRM, GMCR, POT, TBT, FAZ, UNG
Intermediate Term Market Trend: Neutral
Short Term Market Trend: Up
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