Trading NDX, AAPL Close Higher...SPX Closes Lower...

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Eight of nine sectors moved lower on Friday.  XLP, XLU and XLY were the strongest sectors.  Breadth weakened as decliners led advancers 2.01 to 1 on the NYSE and 2.43 to 1 on the NASDAQ.

Exchange        NYSE       NASDAQ

Advancers          997             732

Decliners         2,006          1,780

On Friday the broad indexes paused in their up trend and pulled back fractionally.  The SPX remained at its 161.8% Fib extension for the fourth straight day.  The SPY moved down 42 cents on 120.6 million shares.

AAPL, BIDU, NFLX and PCLN moved higher and AMZN, GOOG and QCOM moved lower.   AAPL again made a new all-time closing high.

Money Flow

Euro    -111 pips   1.3198

TNX      -0.51          19.86

TLT     +1.09         117.15

XLF      -0.05          14.87

SPX     -4.46      1,369.63

VIX      +0.03          17.29

INDU -0.02%

NDX -0.07%

SPX -0.32%

COMPQ -0.43%

RUT -1.57%

The trend is up and will continue to be up until the price action breaks support.  There is weakness in the RUT, Euro and SOX which if it continues could lead to the SPX pulling back more than the 33 point reversal which bottomed on Jan 30.  The trend has been rising 74 days as of Friday.

Money Flow was typical on Friday as the Euro, TNX, XLF and SPX moved down.  Bonds TLT and VIX moved higher.  The Jan 18 SPX breakout has an intermediate term chart target of 1,427 within 12 weeks of the breakout.

The VIX was up slightly and did confirm the SPX move on Friday.  The VIX continues low and does not yet indicate a pending sell off beyond the price fluctuation beyond the magnitude over the past 74 days.  If the VIX were to begin to rise and the index weakness mentioned above were to expand then a 3 to 5% pull back could become more likely.

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The Euro sold off again on Friday falling to its 61.8% Fib retracement support are in its bull flag price pattern.  If the Euro were to bounce and rise towards its its 1.3534 chart target from its Jan 24 horizontal resistance breakout, then a SPX continuation continues the most likely probability.

Continue to follow your rules in looking for entry opportunities, moving your stops and managing your exits.

Bull Flag Entries on Friday – ANF, CSTR, GMCR

Bull Flag Setups to watch on Monday – LNKD, DHR, VRSN, NVDA, AKAM, BAC, MU, JDSU, CREE, ZAGG, CHL, RCL, CAT, HAL, KKD, MOS, SLB, PCS, WDC, GRMN, MTW, ADSK INTU, ESI, ENTR

Breakout Setups to Watch – SINA, C, CF, COH, CRUS, DLR, FAS, GES, GS, HLF, POT, RVBD, STI

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Leading stocks > +2% on Friday included SINA, SOHU, UAL, ANF

Losing stocks < -2.0% included ANR, ESI, PCX, ENTR, UCO, CDE, ZAGG, SLW, AKS, IL, WLT, PCX, CIEN, LDK, WDC, MCP, FCX

NDX 100 stocks stronger than the NDX included SHLD, WYNN, SIRI, NFLX, MNST, ADBE, BIDU, NUAN, GMCR and RIMM.

Stocks weaker than the NDX include BRCM, PCAR, ADSK, BMC, ALTR, MYL, AVGO, GOLD, LRCX and WCRX.

One NDX stock BBBY closed above the 30 DMA and seven ADSK, BMC, BRCM, CTSH, INTU, SRCL and XLNX moved below leaving 68 NDX stocks above their 30 DMA.

Stocks to Watch on Monday

Holding Above 30 DMA = 56

WDC, CMG, FAS, SWK, NKE, CRUS, SMH, SWKS, NGLS, BAC, CF, CHL, STI, A, C, CAT, TPX, KKD, CREE, GS, HLF, LNKD, LVS, SLW, CSTR, VECO, COH, CRM, FFIV, SLB, INFA, NTES, SWI, VMW, IBM, ZAGG, TSLA, GES, V, ICE, ZION, NDAQ, TIF, RVBD, SWN, UCO, DHR, MOS, POT, DLR, SNDK, SINA, ANF, CROX, F

Moving Above 30 DMA = 1

TLT

Moving Below 30 DMA = 4

CDE, LDK, SLB, TBT

Staying Below 30 DMA

ENTR, HAL, JDSU, JNPR, UNP, ARUN, ESI, IL, NVDA, URE, CIEN, GLW, CIEN, GLW, DECK, MCP, TSL, HUM, RCL, UAL, WLT, DE, CLF, FCX, X, GRPN, ANR, PCX, SOHU, AKS, ATI, FAZ

Four Month Intermediate Term Market Trend: Up

Short Term Market Trend: Up