SPX Closer Higher After Pull Back From Intra-Day Highs...

The SPX formed a doji and closed +5.01 at 1,340.20.  PCLN which gapped up over $10 Thursday after the close, reversed Friday morning gapped lower and closed down -$14.94.  The April jobs report showed 244,000 new jobs created and unemployment rose to 9%.

SPX doji +0.38%

INDU inverted hammer +0.43%

COMPQ spinning top +0.46%

RUT inverted hammer +0.49%

Breadth strengthened on Friday as advancers led decliners 1.98 to 1 on the NYSE and 1.52 to 1 on the NASDAQ …

Exchange       NYSE        NASDAQ

Advancers      2,002            1,557

Decliners        1,007            1,020

Index               Chg.     Close   Direction      Confirmation

VIX                 +0.20     18.40     Up                No – SPX

SOX               +3.31    443.66     Up                Yes – COMPQ

Leading stocks > +2% on Friday included CF, TSL, IL, WLT, NVDA, ICE, GMCR, SOHU, VECO, SINA, HUM, POT, CRUS, NTES, CDE, ARUN

Losing stocks < -2.0% included ESI, GES, ATW, UCO

Our bull flag entry for SPY was filled on Friday.

Positives – SPX, INDU, COMPQ, RUT, XLF, BIDU, QCOM, Breadth and sectors strengthened, TBT

Negatives – Euro, VIX, TNX, PCLN, TLT

Interest rates TNX -0.11 moved down and bond ETF TLT moved down 42 cents.  Financial stocks XLF rose 8 cents. The Euro collapsed another -230 pips to 1.4308 at 5 pm on Friday.

All nine sectors moved higher on Friday.  Industrials XLI +0.87% and Materials XLB +0.82% were the strongest sectors.

Most of our Bull Flag setups gave an intra-day entry but closed just above or below Thursday’s high not to be an end of day entry.  Below are those that gave an end of day entry and the Setups that could give another entry on Monday.

End of Day Bull Flag Entry Signals – CROX (Wed.), HUM, NVDA, SINA, VECO, CTRP, XRAY, EXPE, ILMN, MICC, CHKP

Additional Bull Flag Entries – TUP

Bull Flag Setups – A, ACN, AMD, ARUN, ATI, CAT, CIEN, CROX, CSTR, CY, DHR, DLR, DOW, F, GES, GLW, GMCR, MCP, NYX, SMH, SNDK, SWKS, SWN, TIF, UNG, UNP, URE, V, VMW, WDC, ISRG, WYNN, BIDU, EXPD, CTXS, ALTR, FFIV, BBBY, LLTC, ILMN, AMZN, QCOM, PCLN, ESRX, DTV, CELG

SPX

Resistance: 1,344, 1,352, 1,367

Support: 1,330, 1321

The short term 3 day trend is down.

The six-month trend is up.

The twelve-month trend is up.

Trade with the trend of the chart you are trading.

Bullish entry signal is a bounce off support and a break above the high of the low day or a break out of horizontal resistance.

Bearish entry signal is a break of short term support or a bounce down from the 30 DMA or other resistance.

AAPL -0.09 – black candle

AMZN +0.49 – inside day spinning top

BIDU +1.07 – black spinning top

GOOG +1.03 – black spinning top

NFLX -0.84 – black candle

PCLN -14.94 – large black candle after earnings

QCOM +0.44 – inverted hammer

NDX 100 stocks stronger than the NDX include WCRX, LINTA, NVDA, NTAP, VMED, VRSN, VRTX, ILMN, INFY, LRCX, CHKP, CTRP, EXPE, ADSK and ALXN.

Stocks weaker than the NDX include PCLN, RIMM, AKAM, INTC, VOD, QGEN, MYL, URBN, PAYX, CMCSA, BMC, ROST, SNDK, APOL and INTU.

Stocks to Watch on Monday

Holding Above 30 DMA

HUM, HLF, UCO, CSTR, WDC, DHR, MCP, A, SOHU, ANF, DLR, CRM, LVS, TIF, V, NYX, CIEN, VMW, URE, ATI, TLT, DOW, MHS, AMD, F, GES, NVDA, SMH, ESI, JDSU, UNP, FAS, GLW, SWN, VECO, HAS, SWKS, UAL, FAZ, SINA

Moving Above 30 DMA = 3

CAT, CF, IL

Moving Below 30 DMA = 2

SNDK, ZION

Staying Below 30 DMA

ACN, UNG, ARUN, DE, GMCR, NDAQ, NETL, PCX, WLT, AGU, AKS, ATW, FCX, IPI, LDK, RVBD, SLB, TSL, CLF, DECK, CHL, NTES, POT, SWK, CMG, FWLT, JEC, VLO, JNPR, SLW, IAG, GS, CDE, STI, TBT, HAS, MOS, X, ICE, CAM, BAC, CRUS

Intermediate Term Market Trend: Up
Short Term Market Trend: Down