Breadth weakened on Friday as advancers led decliners …1.21 to 1 on the NYSE and decliners edged advancers 1.01 to 1 on the NASDAQ…
SPY up 4 cents at 142.16...volume 136.5 million shares…
VIX up 0.81 at 15.87…
TNX down -0.14 at 16.06…
TNX down -0.14 at 16.06…
TLT down 34 cents at 124.79…
XLF down 2 cents at 15.77…volume 29.6 million shares
XLF down 2 cents at 15.77…volume 29.6 million shares
AAPL down 4.08 at 585.28…volume 13.9
million shares …
FB up 68 cents at`28.00…on volume increase
to 127 million shares…
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Technical
Commentary:
The SPY
formed a doji above its 30 DMA, the VIX moved up
and did not confirm the SPY
move up slightly.
The ES closed down
0.50 at 1,415.50…NQ futures closed down
0.75 at 2,678.75.
The weight of
the evidence continues to suggest the Nov 16 low is likely to hold and Friday’s price
action suggests continuation to higher levels even if another pull back occurs.
The Euro closed up 9 pips
at 1.2986 on Friday.
TNX, interest rates moved
slightly lower and TLT, bonds moved down 34 cents. XLF
was 2 cents lower at 15.76.
SPY – doji inside day, support at 30 DMA
AAPL –
spinning top, lower close above 30 dma
FB – large white
candle, new high close, continuation, BO target 29.63
FAS – doji, bull
flag bounce pause at ST resistance
AMZN – white candle, continuation,
BO target 259.24
EXPE – white spinning
top, BO continuation
STX – black candle,
new low
VIAB – white candle,
DBO continuation, above 30 DMA
RIMM – spinning
top, inside day, BO setup
CRUS – doji, DBO
setup neckline inverse head & shoulders
F – potential
bearish harami, BO setup
PHM – black candle,
close below 30 DMA
SWK – gap black
spinning top, ST support at 30 DMA
SWI – white
spinning top, BO continuation
RAX – potential hanging
man, BO setup above 30 DMA
URI – potential
hanging man, BO setup above 30 DMA
YELP – black candle,
bull flag pull back under 30 DMA
XHB – potential
hanging man, BO setup, above 30 DMA
XRT – doji holds
above S1, above 30 DMA
BO = breakout, DBO = diagonal breakout, CT = counter-trend, IT =
intermediate term, ST = short term
The Market Forecast Green Line is pointed
up above the lower reversal zone.
____________________
Chart Targets:
SPY = 143.52 short-term resistance
ES = 1,419.50…1,425 short-term resistance
ES = 1,419.50…1,425 short-term resistance
EUR/USD = 1.3076 short-term
resistance
Short-term support at
1.2954, 1.2878 = Euro
1.2954, 1.2878 = Euro
140.69 = SPY
83.20 = SPXL
1,396 = ES
2,626 = NQ
1,396 = ES
2,626 = NQ
Setups:
Bull Flag: COH, CREE, GRPN, NKE, SWK, VMW, YELP, OSK
Bull Flag: COH, CREE, GRPN, NKE, SWK, VMW, YELP, OSK
Horizontal
Setup: A, BAC, CHL, CIEN, CRM, DECK, F,
FAS, JNPR, LVS, MCP, MOS, RAX, RCL, SMH, URI
Diagonal
Setup: CMG, CRUS, DE, IBM, STI, TER
Moves:
Gap Up: TLAB, ULTA
Gap
Down: VRSN, YUM, KAR
____________________
53 of 100 NDX stocks closed higher and 2 were unchanged on Friday…
Leading NDX 100 stocks included: COST,
VMED, ADBE, ORLY,
MAT, CHKP, INTU, EBAY, XLNX, FISV
Lagging NDX stocks included: VRSN, BIDU, SHLD, CTXS, APOL, TXN, SNDK, KRFT, EA, MSFT
Leading stocks > +2% on Friday included: ANR, FB, UCO, CREE
Lagging stocks < -2.0% included: GRPN, VECO, ZAGG, AKS, YELP, COH, CROX
Stocks to
Watch on Friday…
Holding Above 30 DMA = 69
YHOO, MYL, ORLY, CERN, NFLX, RIMM, XRAY, PCLN, SBUX, QCOM, HSIC, GILD, SPLS, NTAP, CSCO, EXPE, GMCR, VMED, ATVI, CHKP, EA, EXPD, LLTC, MNIM, PCAR, TXN, XLNX, AMGN, BIIB, CELG, DLTR, EBAY, LIFE, SIAL, AMZN, BBBY, FISV, ADSK, ALTR, AVGO, CHRW, DELL, FFIV, MAT, MRVL, MU, ORCL, AAPL, BRCM, INFY, SRCL, BMC, COST, KRFT, MNST, ADBE, ALXN, CMCSA, FOSL, GOOG, GRMN, NWSA, SYMC, WYNN, AMAT, CTSH, NUAN, PAYX, VIAB
YHOO, MYL, ORLY, CERN, NFLX, RIMM, XRAY, PCLN, SBUX, QCOM, HSIC, GILD, SPLS, NTAP, CSCO, EXPE, GMCR, VMED, ATVI, CHKP, EA, EXPD, LLTC, MNIM, PCAR, TXN, XLNX, AMGN, BIIB, CELG, DLTR, EBAY, LIFE, SIAL, AMZN, BBBY, FISV, ADSK, ALTR, AVGO, CHRW, DELL, FFIV, MAT, MRVL, MU, ORCL, AAPL, BRCM, INFY, SRCL, BMC, COST, KRFT, MNST, ADBE, ALXN, CMCSA, FOSL, GOOG, GRMN, NWSA, SYMC, WYNN, AMAT, CTSH, NUAN, PAYX, VIAB
Moving Above
30 DMA = 3
ADP, INTU, WCRX
Moving Below 30 DMA = 1
CTXS
Staying Below 30 DMA
LRCX, NVDA, ISRG, WFM, SIRI,
KLAC, LINTA, SHLD, FLEX, STX, AKAM, GOLD, MCHP, MSFT, PNRA, SNDK, FAST, INTC,
BIDU, ESRX, VRSN, APOL, VRTX, VOD, DTV, CA, ROST
Fourteen Week
Intermediate Term Market Trend: Neutral
Short Term
Market Trend: Up