Breadth weakened as advancers
led decliners 1.62 to 1 on the NYSE and 1.85 to
1 on the Nasdaq …
Exchange NYSE
NASDAQ
Advancers 1,830
1,591
Decliners 1,123 857
Friday
Highlights:
SPY gained 19 cents…closed at 142.18…volume was 90.8
million…
VIX down - .84 at
13.45…12
month closing low…
Euro -23
pips at 1.2332…
TNX down -0.20 at 18.16…
TLT up +59 cents at 121.60…
XLF up +5 cents at 15.13…
AAPL up +11.77 at 648.11…volume 15.8 million shares
FB down -82 cents at 19.05… volume 129.2 million
The Market Forecast green line is in upper zone.
Technical
Commentary:
The SPY inched to an
all-time New High Close at 142.18 while surpassing its 2007 intra-day high of 142.27
by 3 cents. The ten week up trend
did continue this past wee, as the SPY did break out on Thursday as the Euro
bounced. The Euro paused on
Friday but provided enough support for the SPY to move higher.
IWM, (RUT) +0.70% led the broad indexes again on Friday which has
bullish implications as money appears to be flowing into small caps which
have been lagging.
AAPL also made an all-time
new high close as GOOG reached a 52-week high.
Short-term
support at
140.92, 139.80
= SPY
1,403, 1,387 =
ES
2,743, 2,700 =
NQ
Chart Signals
looks for the eleven week up
trend to continue and the Euro continues to be an important
factor. Continue to have stops
under support and if the SPY does break
support protect profits. The SPY did reach its 141.66 Fib extension 161.8 and the ES its 1,411 Fib extension 161.8 price targets this
week.
Next Chart
Targets:
SPY = 143.10 S&R Measuring
ES = 1,425.75 S&R Measuring
Setup Chart
Patterns
Bull Flag: EXPE, ALTR, ESRX, GRMN, INTC, LRCX, MU, NVDA, RIMM,
AKS, CLF, JNPR, SMH, VECO, X
Horizontal or
Diagonal Breakout: ADSK, BRCM, CHKP,
FFIV, FOSL, GMCR, GOLD, KLAC, NTAP, ATI, CIEN, COH, CREE, CROX, FCX, LVS, RAX, RCL,
RVBD, SINA, SLB, SOHU, SWK, SWKS, VMW, ZION, ADP, ALTR, AMZN, AVGO, BBBY, BIDU,
BMC, CA, CTXS, FAST, MSFT, SNDK, WFM, WYNN
Bounce:
Friday - ADSK, CIEN
Thursday – BRCM, CHKP,
FFIV, FOSL, GMCR, GOLD, KLAC, NTAP, ATI, CLF, COH, CREE, CRM, CROX, FAS, FCX, IBM,
ICE, LVS, MOS, RAX, RCL, RVBD, SLB, SOHU, SWK, SWKS, URE, VMW, WDC, AVGO
50 of 100 NDX
stocks closed higher on Friday…
Leading
NDX 100 stocks included: STX, FLEX, EBAY, FOSL,
FAST, ATVI, AAPL, CTXS, BBBY, NTAP
Lagging
NDX stocks included: MRVL, WCRX, LIFE, CELG, CERN, SHLD, ALXN,
BIIB, SIRI, EXPE
Leading
stocks > +2% on Friday included: DECK, CROX, ZION, UCO, TPX, CIEN, TSL, GLW
Losing stocks < -2.0% included:
MCP, GRPN, FB, NTES, LNKD, ANR, LDK
Stocks to
Watch on Monday…
Holding Above 30 DMA = 49
MOS,
SLB, WDC, UCO, TPX, SWK, GS, JNPR, RVBD, SWI, CIEN, CROX, DHR, HLF, IBM SMH,
SWKS, V, VECO, CRUS, X, CREE, C, FAS, FCX, GES, JDSU, NKE, RCL, STI, TBT, TIF, VMW,
ATI, BAC, CDE, CRM, SINA, SOHU, F, AKS, DECK, ZION, ANF, INFA, COH, ICE, LVS,
URE
Moving Above
30 DMA = 1
GLW
Moving Below 30
DMA = 2
LNKD, TSLA
Staying Below 30 DMA
A,
CHL, NTES, DE, GRPN, ANR, CLF, DLR, TLT, ZAGG, FAZ, CMG, ESI, UAL, FB, CSTR,
LDK, MCP, TSL, HUM
Ten Week Intermediate
Term Market Trend: Up
Short Term Market Trend: Up
1 comment:
Thanks Dave.
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