The
SPY +1.84%, breaks out of its complex
consolidation ascending triangle on
heavy volume closing near the high of the day.
Breadth
strengthened as
advancers led decliners 5.15 to 1 on
the NYSE and 3.41 to 1 on
the NASDAQ.
Exchange NYSE
NASDAQ
Advancers 2,528 1,921
Decliners 490 563
The SPX moved
up +25.95 at 1,385.97 closing above its 30 DMA and above the 75% level of its April - July trading range of 1,422 – 1,266.
Chart Patterns
Breakout: JNPR, HLF, JDSU, COH, SWK,
CIEN, GS, VMW, DHR, ALGN, SHW, COST, AMZN, EXPE, CL, VMW, MTW, KLAC,
Breakout
Setup: AVGO,
FISV, ADSK, CRUS, MCHP, INFA, FAS, GES, C, CREE, CREE, ANF, SMH, URE, V, MOS,
IBM, ICE
Chart Patterns to Watch
Earnings Reaction Week July 16 - 20
Stocks
Up
BIDU,
HAL, ETN, ALTR, T, BIIB, BRCM, JNPR, LLTC, LMT, NSC, PCAR, PNRA, RVBD, TPX, WHR,
VMED, AEM, AKAM, BA, BMY, CAT, CROX, DLR, LLY, HES, SWI, V, WDC, WFM, ALXN, MMM,
AMZN, AMGN, CELG, CL, DECK, EXPE, GILD, INFA, KMB, KLAC, MXIM, POT, VECO, HSY
Stable
STLD, TXN, VMW, DD, SAVE, SPG, CTXS, COP, DAL, F, LRCX,
ALK, XOM, NTGR, RCL, UTX,
Stocks
Moving Down
MCD, ZION, AKS, AAPL, CHRW, NFLX, BTU, VMI, CLF, GLW,
LVS, ORLY, LCC, ZNGA, TSLA, CA, CERN, CSTR, FB, SBUX, UAL,
Earnings of Interest Next Week July 30 – Aug 3
Monday:
CRUS, FISV,
HLF, STX,
Tuesday:
ADM, BMC, COH,
XRAY, DB, FMC, KLIC, LIFE, MDC, VLO,
Wednesday:
ICE, MA, WTW,
YELP,
Thursday:
ATVI, AIG,
AVD, APA, DTV, HSIC, KFT, LBTYA, LNKD, MELI, MCHP, UPL, ZAGG,
Friday:
AGU, NYX, BID,
Technical Commentary:
SPY
and DIA broke out of horizontal resistance and QQQ closed at horizontal
resistance. IWM had the largest
broad index gain on Friday and is still below horizontal resistance. Semiconductor stocks took off this week helping to lead NDX higher.
Look for a potential
pause early in the week after Friday’s breakout and a potential return move or
test of the break out area.
The
Euro, interest rates and financial stocks rose while the VIX and bonds moved lower.
Friday Highlights:
SPY
closes up 2.50on 236.4 million shares
the heaviest rising volume day in 2012,
closed above 30 DMA for the second straight day.
The
Euro moved up 36 pips, closed at 1.2216
TNX
+1.27 at 15.55
VIX
down -0.83 at 16.70
XLF
up 28 cents at 14.76
AAPL
up +10.28 at 585.16 on 14.4
million shares...
FB
down -3.14 at 23.70 on volume of 123.1 million
shares, after earnings on Thursday...
KYAK up +54
cents, +1.66% at 33.05 on .276 million shares
FIVE
+1.76 at 29.65 on .226
million shares…
The
Market Forecast green line is pointed up.
93 of 100 NDX stocks closed higher on Friday…
Leading NDX 100 stocks included EXPE, PCLN, FOSL, AMZN, GILD,
VRSN, RIMM, AMGN, PCAR, MU
Lagging NDX stocks included SBUX,
CA, CERN, WFM, LRCX, BMC,
STX
Leading stocks > +2% on Friday included ANR, GRPN, INFA, AKS, DECK, JNPR, SOHU, FAS, CRM, HLF, GES, TSLA, SINA,
ATI, MCP, X, DE, JDSU, TSL, COH, TPX, SWK, C, CIEN, GS, A, CREE, FCX, VMW, HUM,
TBT, RVBD, ANF, GLW, SWKS, LNKD, CRUS, TIF, ZAGG, SMH, SLB, URE, VECO, ZION,
DLR, CMG, CLF
Losing stocks < -2.0% included CSTR, FB, FAZ, CROX
Stocks to Watch on Monday
Holding
Above 30 DMA = 31
URE, MOS, CHL, ANF, SLB, TLT, WDC, UCO, TPX, SWK,
TIF, DLR, GS, JNPR, RVBD, SWI, CIEN, COH, CROX, CRUS, DHR, FAS, GES, HLF, IBM,
NKE, SMH, SWKS, V, VECO, VMW
Moving Above 30 DMA = 8
C, CREE, DE, FCX, ICE, JDSU, STI, ZAGG
Moving Below 30 DMA = 0
Staying
Below 30 DMA
FAZ, LNKD, ATI, CRM, TSLA CMG, DECK, ESI, RCL, X,
ZION, BAC, UAL, FB, AKS, CSTR, LDK, MCP, CLF, GLW, INFA, NTES, TSL, A, CDE,
SOHU, TBT, HUM, SINA, F, GRPN, ANR, LVS
Seven
Week Intermediate Term Market Trend:
Up
Short Term Market Trend: Up
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