NDX Trades Down 33 Points Before Closing Down 7...

On Friday the SPX opened lower after a weaker than expected Jobs report and the unemployment rate rose to 9.2% and manage to rally from its mornings low to close down -9.42 at 1343.80.  By the end of the day the VIX closed flat at 15.95 suggesting that fear was not growing on Friday. 

It appears that institutions are waiting for earnings that begin on Monday with Alcoa AA earnings after the close.  JPM and GOOG report on Friday.

Financials XLF gave back 20 cents of Thursday's 25 cent gain as interest rates fell and bonds rose.  In order for the SPX to make a sustained breakout Financials will need to rebound and head higher.

The NDX was the strongest of the broad sectors as AAPL, AMZN, BIDU NFLX, PCLN and QCOM all formed a white candle and rose on Friday.  Only GOOG in the big NDX 7 was down.

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NDX potential bearish harami, above 30 DMA -0.29%

SPX potential bearish harami, above 30 DMA -0.70%

INDU potential bearish harami, above 30 DMA -0.49%

COMPQ lower close white candle, above 30 DMA -0.45%

RUT potential bearish harami, above 30 DMA -0.65%

NFLX and AMZN have already broken out of reistance and made a new high close.  AAPL broke above 3 month resistance but is still about $5 below all-time highs at 365.  PCLN had it secondest highest close on Friday at 552.  BIDU is strong and $9 below all-time high of 156.  QCOM made a new high close by just one cent at 59.36.  It is poised to make an ascending triangle breakout.

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Breadth weakened as decliners led advancers 2.35 to 1 on the NYSE and 2.02 to 1 on the NASDAQ …

Exchange       NYSE        NASDAQ

Advancers         888               852

Decliners        2,090            1,728

Index              Chg.     Close    Direction    Confirmation

VIX                 +0.00     15.95     Down          No – SPX

SOX                -6.60    413.80     Down          Yes – COMPQ

Leading stocks > +2% on Friday included FAZ, MOS, POT, CF

Losing stocks < -2.0% included JDSU, UCO, A, CRUS, FAS, ANR, TBT, FWLT, LDK, CIEN, AKS, JNPR, HAS, STI, DOW, BAC

Interest rates TNX fell -1.33, bond ETF TLT gained $1.33 and Financials XLF fell 20 cents.  The Euro moved down 96 pips to close at 1.4261 at 5 pm on Friday.

SPX

Resistance: 1,359, 1,370

Support: 1,344, 1,330, 1,321

The short term 3 day trend is up.

The six-month trend is neutral.

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 +2.51 – white candle, near 6 month resistance, above 30 DMA

AMZN +1.54 – large white candle, new high close, above 30 DMA

BIDU +0.77 – large white candle, near 6 month resistance,  above 30 DMA

GOOG -14.61 – spinning top, close below resistance, above 30 DMA

NFLX +2.72 – large white candle, new high close, above 30 DMA

PCLN +4.81 – large white candle, near 6 month resistance, above 30 DMA

QCOM +0.10 – white candle, breakout setup, above 30 DMA

NDX 100 stocks stronger than the NDX include ALXN, WYNN, STX, EXPE, GMCR, VRTX, NFLX, ERTS, PCLN, BIIB, AMZN and AAPL.

Stocks weaker than the NDX include NWSA, VMED, GOOG, ALTR, AMAT, XLNX, PCAR, SPLS, NVDA and MU.

Stocks to Watch on Monday

Holding Above 30 DMA

TIF, KKD, CROX, GMCR, HUM, INFA, TPX, AGU, CMG, CRM, HLF, NETL, VMW, ATW, NGLS, CHL, CLF, ENTR, ESI, ACN, CSTR, ARUN, FFIV, ICE, POT, RVBD, TBT, A, AKS, CAM, CAT, COH, CRUS, DECK, DLR, DOW, FCX, LVS, NKE, NTES, PCX, SLB, UNP, WDC, ZION, DE, FAS, GES, MOS, NDAQ, SWN, URE, V,  X, DHR, SINA, SMH, SWK, CY, F, HAS, SOHU, WTW, ANF, CDE, SLW, JNPR, MCP, SNDK, SWKS, WLT

Moving Above 30 DMA = 1

CF

Moving Below 30 DMA = 5

ANR, ATI, GS, STI, UCO

Staying Below 30 DMA

LDK, BAC, TSL, FAZ, TLT, UAL, UNG, IAG, VECO, CREE, NVDA, FWLT, MHS, JDSU, GLW, CIEN, IL

Intermediate Term Market Trend: Neutral

Short Term Market Trend: Up