Expiration Friday Produces Another Trading Range Day...

.
Listen to Dave Friday morning on tastytrade at the 124:10 minute mark, Click Here:   https://www.tastytrade.com/#/


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

Breadth weakened as decliners led advancers 1.20 to 1 on the NYSE and 1.04 to 1 on the NASDAQ.

Exchange        NYSE       NASDAQ

Advancers       1,369          1,249

Decliners         1,647          1,308

As Chart Signals indicated last week if Financials XLF were to break through resistance that would increase the probability of the SPX breaking out and continuing its recent up trend.  Interest rates rose, bonds fell and  XLF led all sectors with a 5.93% gain for the week on the strength of weekly gains in BAC +21.7%, ZION +17.3%, RF +10.5%, JPM +8.36%, C +7.2% and WFC +7.0%.  

The SPY moved down 42 cents, after a 61 cent dividend reflected in the price, on volume of 152.9 million shares.

The intermediate term trend is still up and the SPX has a twelve week price target of 1,427 from its breakout on Jan 18. 

Money Flow

Euro       +97 pips   1.3176

TNX        +0.17         22.98

TLT        +0.22        111.43

XLF        +0.01          15.72

SPX       +1.57      1,404.17

VIX          -0.95          15.42

SPX +0.11%

COMPQ -0.04%

NDX -0.07%

INDU -0.15%

RUT -0.15%

Money Flow was again mixed on triple-witching expiration Friday as the Euro moved higher.  As we would expect TNX, XLF, SPX rose and VIX moved lower.   Bonds TLT also rose which typically we would expect to fall with rising interest rates.

(click image to enlarge)

Setups

(click image to enlarge)

Leading stocks > +2% on Friday included PCX, POT, BAC, SOHU, LDK, TSL, IL, ANR, MOS, UCO, AKS, SWN, SLB, RCL

Losing stocks < -2.0% included ENTR, F, CROX, SWI, UAL, ICE

NDX 100 stocks stronger than the NDX included RIMM, CTRP, EA, FSLR, EXPD, PCLN, EBAY, LINTA, ADSK and YHOO.

Stocks weaker than the NDX include GOLD, PNRA, CHKP, WCRX, MRVL, FOSL, ORLY, AMGN, VMED and CTXS.

Five NDX stocks BMC, CSCO, EA, SRCL and YHOO closed above the 30 DMA and three AMGN, BIDU and MYL moved below making 80 NDX stocks above their 30 DMA.

Stocks to Watch on Monday

Holding Above 30 DMA = 54

CMG, NKE, CRUS, SWKS, NGLS, CHL, TPX, HLF, LNKD, LVS, CSTR, CRM, INFA, SWI, VMW, IBM, TSLA, V, ICE, TIF, UCO, DLR, SNDK, SINA, ANF, BAC, C, COH, FAS, GS, NTES, SWK, VECO, ZION, DHR, TBT, FFIV, MCP, GLW, URE, A, ARUN, DOW, JDSU, NDAQ, SMH, STI, CLF, X, CAT, CIEN, CREE, RCL, UNP

Moving Above 30 DMA = 6

AKS, CF, MOS, POT, SOHU, SWN

Moving Below 30 DMA = 2

F, KKD

Staying Below 30 DMA

GES, WDC, ZAGG, PCS, FAZ, TLT, RVBD, CROX, SLW, CDE, LDK, SLB, ENTR, HAL, JNPR, ESI, IL, NVDA, DECK, TSL, HUM, UAL, WLT, DE, FCX, GRPN, ANR, PCX, ATI

Five Month Intermediate Term Market Trend: Up

Short Term Market Trend: Up