SPX New High Close as NDX Pauses...GILD Takes Biotechs Lower...Listen to Dave on tastytrade...

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Listen to Dave on tastytrade today at the 122:05 minute mark, Click Here:  https://www.tastytrade.com/#/


 

Six of nine sectors moved higher on expiration Friday.  XLY, XLF and XLI were the strongest sectors.

Markets are closed on Monday.

The INDU and SPY each made a bull market New High Close.  The SPX made a current New High Close, just 2 points below its bull market closing high on Apr 29, 2011.  The short-term trend has been rising sixty days.  Five similar short-tem trends extended 70 to 80+ days in 2009, 2010 and early 2011.  Stay with the trend until support is broken.  Follow your rules.

Money Flow

Euro    +80 pips   1.3143

TNX     +0.17         20.10

TLT      -0.03        116.58

XLF     +0.09          14.79

SPX    +3.19      1,361.23

VIX      -1.44          17.78

INDU +0.35%
SPX +0.23%

RUT -0.15%

COMPQ -0.27%

NDX -0.31%

Money Flow was typical as the Euro moved higher and TNX, XLF and SPX followed.  The VIX and bonds TLT moved lower.  The most recent SPX breakout has an intermediate term chart target of 1,428 within 12 weeks of the breakout, now just 70 points away.

The VIX moved down and did confirm the SPX on Friday.

  

Breadth weakened as advancers led decliners 1.34 to 1 on the NYSE and 1.02 to 1 on the NASDAQ.

Exchange        NYSE       NASDAQ

Advancers       1,705          1,282

Decliners        1,271          1,246

The Euro continued to rise from its late January short-term support area.

Like the broad market our Bull Flag stocks were mixed on Friday.  Sixteen moved higher and thirteen moved slightly lower.  FFIV moved lower and GILD gapped down after negative developments surrounding its Hep-C drug.

Bull Flag and Breakout Setups/Entries – JNPR, CREE, LNKD, GES, SWKS, BRCM, STI, FFIV, GILD, LVS, GLW, GS, GRMN, VECO, NFLX, C, CSTR, F, FAS, IL, MOS, RCL, UAL, FSLR, CERN, COST, CSCO, CTSH, WDC, GMCR, BAC

Leading stocks > +2% on Friday included LDK, TSL, VECO, ZION, TSLA, UCO

Losing stocks < -2.0% included ARUN, WLT, ANR, NVDA, CROX, CLF, RVBD

NDX 100 stocks stronger than the NDX included FSLR, VRTX, NWSA, BBBY, INTC, PCLN, CMCSA, DLTR, PNRA and EBAY.

Stocks weaker than the NDX include GILD, LIFE, NVDA, BIDU, ALXN, ATVI, BIIB, LRCX, YHOO and MRVL.

Two NDX stocks FSLR and NWSA closed above the 30 DMA and five ATVI, BIIB, GILD, LIFE and SPLS closed below leaving 79 NDX stocks above their 30 DMA.

Stocks to Watch on Tuesday

Holding Above 30 DMA = 69

WDC, DLR, URE, CMG, DOW, ENTR, FAS, SWK, F, NKE, CIEN, CRUS, SMH, SWKS, JDSU, NGLS, BAC, CF, CHL, STI, A, C, CAT, TPX, ESI, KKD, CREE, GS, CROX, HLF, LNKD, LVS, RCL, SLW, TSL, CSTR, SINA, VECO, COH, ARUN, CRM, FFIV, SLB, INFA, NTES, NVDA, SWI, VMW, IBM, ZAGG, UAL, TSLA, LDK, GES, JNPR, V, ICE, ZION, NDAQ, TIF, RVBD, SWN, UCO, ANF, DECK, CDE, DHR, MOS, TBT

Moving Above 30 DMA = 1

HAL

Moving Below 30 DMA = 1

WLT

Staying Below 30 DMA

DE, UNP, CLF, FCX, GLW, IL, X, GRPN, ANR, PCX, POT, MCP, SOHU, AKS, TLT, HUM, ATI, SNDK, FAZ

Eighteen Week Intermediate Term Market Trend: Up

Short Term Market Trend: Up