Breadth weakened slightly Friday as advancers led decliners 2.20 to 1 on the NYSE and 1.77 to 1 on the NASDAQ…
Exchange NYSE NASDAQ
Advancers
2,084 1,583
Decliners 944 892
SPY up 65 cents at 147.24...volume 169.7 million shares
VIX up +0.46 at 14.51…
Euro up 141 pips at 1.3126…
TNX gained 1.14 at 18.70…
TLT down -3.23 at 118.30…
XLF up 13cents at 16.28…
Gold up 4.10
at 1,773.50…
Oil up 97 cents
at 99.06…
AAPL up 8.30 at 691.28…volume 21.4 million shares …
FB up 1.29 at 22.00… volume 72.7 million shares…
The Market
Forecast green line is in the upper zone.
YTD At a
Glance
Friday
YTD
SPY
+0.44%
+18.45%
AAPL
+1.22%
+71.42%
EXPE
+0.55%
+93.96%
STX +0.54% +89.32%
EBAY
+2.24%
+64.75%
Technical Commentary:
Technical Commentary:
SPY makes
new high close with higher high and higher low
SPY closes in bottom half of
range forming potential shooting star candle after reaching the 261.8 Fib Target of 147.88 following the Sept 6 horizontal breakout
The Euro and interest rates
TNX rose
Numerous stocks like SPY, DIA, XLF, AAPL, ANR, JRCC and MS
formed a potential shooting star or tombstone doji pattern and still others
like GOOG, AMZN and GS formed a
neutral doji pattern that could be the second day of an evening star pattern if
confirmed on Monday. The patterns become
potential short term reversal patterns if price closes below Friday’s body on
Monday.
(click image to enlarge)
Be mindful that most
stocks in our lists have already bounced or broken out of resistance and that
profits should be protected according to your rules.
New 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.
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
144.39, 143.09
= SPY
1,438.75, 1,421.50
= ES
2,802.50, 2,775,
2,750 = NQ
Setups:
Flag/Pennant: SWKS, LCC, STX, ALTR, LLTC, VRSN,
BMC
Breakout: JNPR, SOHU, AKS
30 DMA Potential Breakout: WDC, TSL, CHL, NTES, LDK
Friday Bounce: SWI, CRUS, COH, LINTA, EBAY, AKAM, LIFE
Thursday Bounce: NTES, TIF, SCHN, ESRX, PAYX, ORCL, GOOG, AMZN, AAPL,
Breakout: WLT, ACI
Thursday: MCP, BTU, ANR, JRCC
79 of 100 NDX
stocks closed higher on Friday…
Leading NDX 100 stocks included: FOSL, FSLR,
BIDU, GOLD, NFLX, VRTX, FFIV, FAST, SHLD, GILD
Lagging NDX stocks included: SBUX, CHKP, AMGN,
CERN, ORLY, GMCR, VOD, VMED, HSIC, COST
Leading stocks > +2% on Friday included: GRPN, DECK, CDE, FB,
ATI, CRUS, MCP, TBT, CLF, CIEN, SWK, JDSU, ANR, RVBD, STI, CREE, A, VECO, LNKD,
TSLA, INFA, LVS, VMW, SOHU, SLB, TIF, HLF, HUM ICE, SWKS, ESI, GES, FAS, ANF,
SWI, DE, FCX, GLW = 38
Lagging stocks < -2.0% included: AKS, WDC, TLT, NKE, FAZ, ZAGG = 6
Stocks to Watch on Monday…
Holding Above 30 DMA = 57
UCO, TPX, GS, RVBD, SWI, CROX, CRUS, CREE, C, FAS, FCX, JDSU, NKE, RCL, STI, TIF, BAC, CDE, CRM, SINA, SOHU, F, ZION, ANF, INFA, ICE, LVS, LNKD, HUM, URE, COH, GLW, CSTR, MOS, UAL, CMG, DE, DHR, ESI, IBM, SWK, TBT, VMW, AKS, ANR, ATI, VECO, CLF, JNPR, MCP, SLB, V, X, FB, ZAGG, A, HLF, TSLA
UCO, TPX, GS, RVBD, SWI, CROX, CRUS, CREE, C, FAS, FCX, JDSU, NKE, RCL, STI, TIF, BAC, CDE, CRM, SINA, SOHU, F, ZION, ANF, INFA, ICE, LVS, LNKD, HUM, URE, COH, GLW, CSTR, MOS, UAL, CMG, DE, DHR, ESI, IBM, SWK, TBT, VMW, AKS, ANR, ATI, VECO, CLF, JNPR, MCP, SLB, V, X, FB, ZAGG, A, HLF, TSLA
Moving Above 30 DMA = 5
DECK, DLR, GRPN, SMH, SWKS
Moving Below 30 DMA = 1
NKE
Staying Below 30 DMA
WDC, TLT, CIEN, TSL, GES, CHL, NTES, FAZ, LDK
Fifteen Week Intermediate Term Market Trend: Up
Short Term Market Trend: Up
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