Breadth weakened on Friday as decliners led advancers 1.55 to 1 on the NYSE and 1.87 to 1 on the NASDAQ…
Exchange NYSE NASDAQ
Advancers 1,172
860
Decliners 1,823 1,611
SPY down 67 cents at 143.97...volume 150.7 million shares
VIX up 0.89 at 15.73…
TNX down -0.03 at 16.37…
TLT up 7 cents at 124.22…
XLF down 5 cents at 15.59…
AAPL down -14.21 at 657.10…volume 19.1 million shares …
FB up 1.34 cents at 21.66… volume 65.4 million shares…
The Market Forecast green line is pointed down out of the upper zone.
YTD At a Glance
Decliners 1,823 1,611
SPY down 67 cents at 143.97...volume 150.7 million shares
VIX up 0.89 at 15.73…
TNX down -0.03 at 16.37…
TLT up 7 cents at 124.22…
XLF down 5 cents at 15.59…
AAPL down -14.21 at 657.10…volume 19.1 million shares …
FB up 1.34 cents at 21.66… volume 65.4 million shares…
The Market Forecast green line is pointed down out of the upper zone.
YTD At a Glance
September YTD August
Sector ETF
XLV +3.30% +16.87% +1.17%
XLB +3.23% +10.88% +2.32%
XLF +2.84% +20.85% +3.41%
XLY +2.72% +20.72% +4.62%
XLE +2.66% +7.16% +2.70%
XLK +1.10% +21.98% +4.20%
XLP +1.03% +11.60% -0.47%
XLI +0.47% +9.24% +1.54%
XLU -0.49% +3.03% -4.14%
SPY +1.99% +15.82% +2.51%
AAPL +0.28% +65.42% +9.39%
SPY +1.99% +15.82% +2.51%
AAPL +0.28% +65.42% +9.39%
EXPE +12.62% +100.76% -9.66%
STX -3.28% +92.30% +7.67%
VRTX +4.80% +68.29% +9.94%
GILD +14.98% +62.06% +6.20%
EBAY +1.90% +59.48% +7.16%
Technical Commentary:
The Euro moved higher overnight but starting selling off near the open and closed near its low on Wednesday and Thursday in its bull flag pattern. Interest rates fell slightly, as bonds drifted higher while XLF and SPY pulled back. The VIX rose confirming the SPY pullback.
The Euro, SPY, IWM, DIA, QQQ and XLF are still in a bull flag and above support with Friday’s low above Wednesday’s low. TLT is still in a bear flag pattern. Remember, Monday’s have been a pause to weaker day over the past several weeks.
Chart Targets:
SPY = 147.88 2.61 Fib
ES = 1,466.00 2.61 Fib on ESZ2
EUR/USD = 1.3095 1.60 Fib, 1.3345 S&R Measuring
Short-term support at
143.09, 142.33 = SPY
1,424, 1,417.50 = ES
2,775, 2,762.25, 2,750 = NQ
Setups:
Bull Flag: IWM, XLF, BAC, C, JPM, WFC, MS, STI, ZION, A, ANR, CLF, CMG, MCP, SOHU, SWK, TBT, TIF, BTU, WLT, JRCC, ACI, CA, FFIV, PNRA, QCOM, SHLD, PHM, EXPE, VRTX, PCLN, CIEN, JDSU, SINA, VMW, ATI, CRM, FAS, SHLD, FCX, GS
At Support: UAL, F, SWI, JNPR, ISRG, FAST, SRCL, XLNX, MCHP, EA, SIAL, NTAP, ICE, SOHU, AKS, GES, ATVI, CREE, TPX, MXIM, INTC, SLB
Gap Up: RIMM
Resistance BO: CDE, GOLD, GRMN, LVS, WYNN
Bounce: FB, IBM, LNKD, INFY, ORCL, ALXN, BIDU, CERN, CTSH, CTXS, Z, NUAN, INFA, FISV
31 of 100 NDX stocks closed higher on Friday…
Leading NDX 100 stocks included: RIMM, CERN, BIDU, CTSH, INFY, CSCO, WCRX, MNST, ALXN, CTXS
Lagging NDX stocks included: GMCR, STX, ESRX, AAPL, NFLX, FLEX, ALTR, FOSL, MRVL, INTC
Leading stocks > +2% on Friday included: FB, ZAGG, COH, TSLA, NTES
Lagging stocks < -2.0% included: LDK, CRUS, JNPR, JDSU, ANR, VECO, TPX, CIEN, WDC
Stocks to Watch on Monday…
Holding Above 30 DMA = 34
GS, RVBD, C, FAS, FCX, RCL, STI, BAC, CDE, SINA, ZION, LVS, LNKD, HUM, GLW, CMG, DE, DHR, IBM, SWK, V, FB, A CHL, GRPN, NTES, TLT, CRM, INFA, JDSU, SOHU, TIF, TSL, VMW
Moving Above 30 DMA = 3
TSLA, UAL, ZAGG
Moving Below 30 DMA = 3
ATI, CLF, F
Staying Below 30 DMA
MCP, SWI, ANR, ESI, ICE, MOS, SLB, TBT, ANF, CREE, CRUS, JNPR, URE, COH, CROX, NKE, TPX, VECO, CSTR, DECK, HLF, UCO, AKS, DLR, SMH, SWKS, X, WDC CIEN, GES, FAZ, LDK
Fifteen Week Intermediate Term Market Trend: Up
Short Term Market Trend: Neutral
VRTX +4.80% +68.29% +9.94%
GILD +14.98% +62.06% +6.20%
EBAY +1.90% +59.48% +7.16%
Technical Commentary:
The Euro moved higher overnight but starting selling off near the open and closed near its low on Wednesday and Thursday in its bull flag pattern. Interest rates fell slightly, as bonds drifted higher while XLF and SPY pulled back. The VIX rose confirming the SPY pullback.
The Euro, SPY, IWM, DIA, QQQ and XLF are still in a bull flag and above support with Friday’s low above Wednesday’s low. TLT is still in a bear flag pattern. Remember, Monday’s have been a pause to weaker day over the past several weeks.
(click image to enlarge)
Chart Targets:
SPY = 147.88 2.61 Fib
ES = 1,466.00 2.61 Fib on ESZ2
EUR/USD = 1.3095 1.60 Fib, 1.3345 S&R Measuring
Short-term support at
143.09, 142.33 = SPY
1,424, 1,417.50 = ES
2,775, 2,762.25, 2,750 = NQ
Setups:
Bull Flag: IWM, XLF, BAC, C, JPM, WFC, MS, STI, ZION, A, ANR, CLF, CMG, MCP, SOHU, SWK, TBT, TIF, BTU, WLT, JRCC, ACI, CA, FFIV, PNRA, QCOM, SHLD, PHM, EXPE, VRTX, PCLN, CIEN, JDSU, SINA, VMW, ATI, CRM, FAS, SHLD, FCX, GS
At Support: UAL, F, SWI, JNPR, ISRG, FAST, SRCL, XLNX, MCHP, EA, SIAL, NTAP, ICE, SOHU, AKS, GES, ATVI, CREE, TPX, MXIM, INTC, SLB
Gap Up: RIMM
Resistance BO: CDE, GOLD, GRMN, LVS, WYNN
Bounce: FB, IBM, LNKD, INFY, ORCL, ALXN, BIDU, CERN, CTSH, CTXS, Z, NUAN, INFA, FISV
31 of 100 NDX stocks closed higher on Friday…
Leading NDX 100 stocks included: RIMM, CERN, BIDU, CTSH, INFY, CSCO, WCRX, MNST, ALXN, CTXS
Lagging NDX stocks included: GMCR, STX, ESRX, AAPL, NFLX, FLEX, ALTR, FOSL, MRVL, INTC
Leading stocks > +2% on Friday included: FB, ZAGG, COH, TSLA, NTES
Lagging stocks < -2.0% included: LDK, CRUS, JNPR, JDSU, ANR, VECO, TPX, CIEN, WDC
Stocks to Watch on Monday…
Holding Above 30 DMA = 34
GS, RVBD, C, FAS, FCX, RCL, STI, BAC, CDE, SINA, ZION, LVS, LNKD, HUM, GLW, CMG, DE, DHR, IBM, SWK, V, FB, A CHL, GRPN, NTES, TLT, CRM, INFA, JDSU, SOHU, TIF, TSL, VMW
Moving Above 30 DMA = 3
TSLA, UAL, ZAGG
Moving Below 30 DMA = 3
ATI, CLF, F
Staying Below 30 DMA
MCP, SWI, ANR, ESI, ICE, MOS, SLB, TBT, ANF, CREE, CRUS, JNPR, URE, COH, CROX, NKE, TPX, VECO, CSTR, DECK, HLF, UCO, AKS, DLR, SMH, SWKS, X, WDC CIEN, GES, FAZ, LDK
Fifteen Week Intermediate Term Market Trend: Up
Short Term Market Trend: Neutral
