SPX, INDU Close Above Horizontal Resistance as XLF Rises...

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All nine sectors moved higher on Friday. XLY +2.77%, XLB +2.65% and XLF +2.58% were the strongest sectors.

On Friday the Euro was up 114 pips to 1.3893 at 5 pm EDT. TNX closed up +0.23 at 22.03. TLT was down -1.21. Financials XLF was up 33 cents.

Earnings season continues on Monday.

The broad indices moved higher with the INDU +2.31%, RUT +2.30%, SPX +1.88%, COMPQ +1.49% and NDX +1.29%. The SPX broke out of horizontal resistance up +22.86 to close at 1,238.25. The VIX moved down -3.46 to 31.32.

AMZN, GOOG PCLN and QCOM moved higher on Friday. AAPL and BIDU moved lower.

Friday was a horizontal breakout day for both the SPX and INDU and a bull flag breakout for the NDX and COMPQ.  The SPX charts indicates a 1,363 price target within 8 to 10 weeks.  Potential resistance areas are at 1,260 and 1,313.

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Look at the weekly candles of the past three weeks compared to the past eleven weeks.

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Twenty one of the twenty eight NDX 100 bull flag setups on Thursday gave entry signals on Friday:  AKAM, SIRI, ADSK, NWSA, FLEX, INTU, GOOG, ADBE, CSCO, SBUX, MAT, JOYG, DTV, MXIM, BBBY, INFY, AMAT, LLTC, NTAP, INTC, LRCX

Flag Pattern Setups waiting for entry signal: MU, MSFT, AAPL, APOL, EBAY, NVDA, DELL

Breadth strengthened as advancers led decliners 6.78 to 1 on the NYSE and 3.48 to 1 on the NASDAQ.

Exchange       NYSE        NASDAQ

Advancers       2,631           1,953

Decliners           388              561          

Leading stocks > +2% on Friday SNDK, CMG, ENTR, FAS, TPX, URE, MOS, FCX, F, ATI, FWLT, ARUN, A, DE, GLW, CF, ANR, IL, CAT, GES, RCL, DHR, ESI, DOW, SWK, TIF, ICE, UCO, CSTR, SMH, JNPR, HUM, NKE, X, COH, FFIV, UNP, IBM, NTES, SLW, CRUS, ZION, CIEN, DLR, V, HLF, TBT, KKD

Losing stocks < -2.0% included FAZ, INFA, LDK, STI, HAL, TSL, VECO

NDX 100 stocks stronger than the NDX included STX, ALTR, SNDK, FLEX, BIIB, URBN, JOYG, LIFE, NFLX and ADBE.

Stocks weaker than the NDX include FLIR, WYNN, MU, BIDU, MRVL, VRTX, ISRG, AAPL, CHKP and ORLY.

Six NDX stocks ALTR, DELL, LIFE, MCHP, NIHD and URBN moved above their 30 DMA making 80 NDX stocks above the 30 DMA. 

Stocks to Watch on Monday

Holding Above 30 DMA = 52

IBM, ARUN, DECK, FFIV, ICE, INFA, SNDK, CSTR, F, NDAQ, NKE, ANF, COH, ENTR, NVDA, UNP, CRM, DHR, DOW, SMH, SWK, TIF, TPX, UAL, V, VMW, C, JNPR, NGLS, RCL, ZAGG, CAT, DLR,  HLF, LNKD, SWKS, SWN, NTES, WLT, RVBD, SLB, UCO, AKS, FAS, GLW, GS, TBT, ZION, A, BAC, CIEN, URE

Moving Above 30 DMA = 10

ATI, CF, CMG, DE, ESI, FCX, FWLT, GES, HUM, POT

Moving Below 30 DMA = 3

STI

Staying Below 30 DMA

CRUS, LVS, CROX, CREE, HAL, SINA, WDC, TLT, FAZ, GMCR, CHL, IL, JDSU, SLW, KKD, MOS, CDE, CLF,  MCP, PCX, SOHU, TSL, BAC, VECO, LDK, ANR,  X

Eleven Week Intermediate Term Market Trend: Neutral

Short Term Market Trend: Up