Trading Creates Support Bounce in XLF, RUT and SPX on Friday...Advancers Swing to the Positive...

.
Listen to Dave on tastytrade on Friday at the 123:08 minute mark, Click Here:  https://www.tastytrade.com/#/



SPY and XLF support bounce on Friday...Thursday night's SPY Apr 141 paper trade filled on Friday at $1.31 at 11:30:20.

Eight of nine sectors moved higher on Friday, XLE, XLB and XLF were the strongest sectors.

Breadth strengthened as advancers led decliners 2.46 to 1 on the NYSE and 2.01 to 1 on the NASDAQ.

Exchange        NYSE       NASDAQ

Advancers       2,123          1,669

Decliners           863             829

The SPY moved up 45 cents on volume of 120.5 million shares.

AAPL -3.29, -0.55% closed at $596.05 on 15.3 million shares.

Money Flow

Euro      +67 pips   1.3267

TNX        -0.38         22.37

TLT        +1.06       113.21

XLF        +0.14         15.73

SPX        +4.33    1,397.11

VIX         -0.75         14.82

RUT +1.05%

SPX +0.31%

INDU +0.27%

COMPQ +0.15%

NDX -0.11%

Money Flow on Friday took the Euro, SPX and XLF higher.  TNX moved lower and bonds TLT moved higher.  The VIX moved lower and did confirm the SPX move on Friday.

On Thursday the Euro started to bounce off its 1.3150 support area after selling off Wednesday night and that support bounce continued on Friday.  Buying then spread to the financials XLF, SPX and stocks in general on Friday as evidenced in the gaining sectors and advancers and decliners. 

For the most part the SPX, XLF and VIX regained half their move from Tuesday’s close to Thursday’s close on Friday; a pullback on Wednesday and Thursday then a bounce on Friday.  Of course for the inverse VIX it was a rally on Wednesday and Thursday and a move down on Friday.

Going into next week, if the Euro continues to move higher, we will look for strength in financials XLF and SPX to follow through with the support bounce that started on Friday.

(click image to enlarge)

The Jan 18 SPX breakout has an intermediate term chart target of 1,427 within 12 weeks of the breakout on Jan 18.

Flag Move: BAC, FAS, GS, DOW, CLF, A

Flag Setups: ZION, STI, AKS, X, CREE, SWKS, GLW, CMG, NGLS, TPX, HLF, LVS, CSTR, INFA, SWI, TIF, ANF, C, COH, SWK, VECO, DHR, TBT, URE, SMH, CIEN, RCL, POT, SOHU, CROX, JDSU, WYN, SINA, BRCM

(click image to enlarge)

Breakout Setups: VMW, V, DLR, CF, ZAGG      

Leading stocks > +2% on Friday included SLW, TSL, CF, WLT, VECO, UAL, LDK, UCO, BAC, MOS, FAS, CLF, CDE, NTES, SWN, CREE

Losing stocks < -2.0% included NKE, SNDK, FAZ

NDX 100 stocks stronger than the NDX included LIFE, VRTX, AMZN, NFLX, KLAC, CHKP, BRCM, INFY, NTAP and CA.

Stocks weaker than the NDX include MU, DELL, FSLR, SNDK, SHLD, EBAY, APOL, GMCR, CTXS and SPLS.

One NDX stock LIFE closed above the 30 DMA and three ALTR, ESRX and MYL moved below leaving 73 NDX stocks above their 30 DMA.

Stocks to Watch on Monday

Holding Above 30 DMA = 53

CMG, CRUS, SWKS, NGLS, TPX, HLF, LNKD, LVS, CSTR, CRM, INFA, SWI, VMW, IBM, V, ICE, TIF, DLR, SNDK, ANF, BAC, C, COH, FAS, GS, NTES, SWK, VECO, ZION, DHR, TBT, FFIV, MCP, GLW, URE, ARUN, DOW, NDAQ, SMH, STI, CLF, X, CIEN, CREE, RCL, AKS, CF, POT, SOHU, CHL, CROX, WDC, ZAGG

Moving Above 30 DMA = 4

A, JDSU, MOS, UCO

Moving Below 30 DMA = 3

NKE, SINA, TSLA

Staying Below 30 DMA

F, UNP, KKD, TSL, ATI, CAT, SWN, GES, PCS, FAZ, TLT, RVBD, SLW, CDE, LDK, SLB, ENTR, HAL, JNPR, ESI, IL, NVDA, DECK, HUM, UAL, WLT, DE, FCX, GRPN, ANR, PCX

Five Month Intermediate Term Market Trend: Up

Short Term Market Trend: Neutral

.