SPY, AAPL Form Hammer as Buyers Step In on Increased Volume...

All nine sectors moved higher on Friday…XLU, XLV, XLY and XLF were the strongest sectors.

Breadth strengthened on Friday as advancers led decliners …2.86 to 1 on the NYSE and 1.44 to 1 on the NASDAQ…

SPY up 67 cents at 136.37...volume 178 million shares

VIX -1.58 at 16.41…
TNX -0.15 at 15.74…
TLT down 11 cents at 126.37…
XLF up 10 cents at 15.28…volume 63.3 million shares

AAPL up 2.06 at 527.68…volume jumped to 45.2 million shares …
FB up 1.39 at`23.56…volume increased to 107.1 million shares…

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Technical Commentary:

The SPY traded down to the identified 134.89 support area and NQ to the 2.513 support area and bounced.  The VIX moved down and did confirm the SPY move down.

The Euro down 49 pips at 1.2730 paused after rising over the last two days.  traded.  TNX, interest rates were down slightly and TLT, bonds moved down 11 cents and formed a shooting star.

XLF was up 10 cents and formed a hammer at IT support.

SPY - hammer, outside day CT rally setup

AAPL - long tailed hammer, bullish harami CT rally setup
FB - near ST resistance, BO setup
FAS - hammer, IT support
EXPE - flag bounce
STX – hammer, IT support
VIAB – EPS bounce, IT support, DBO setup
RIMM – BO setup

 

XRT - hammer at IT support

 

BO = breakout, DBO = diagonal breakout, CT = counter-trend, IT = intermediate term

The Market Forecast Green Line is pointed up in the lower reversal zone.

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Chart Targets:

SPY = 139.37 short-term resistance
ES = 1,386 short-term resistance
EUR/USD = 1.2876, 1.3020 short-term resistance

Short-term support at
1.2659 = Euro

134.70 = SPY
73.26 = SPXL
1,342.50 = ES
2,513 = NQ

 

Setups:
Bull Flag:  WDC DDS, QCOM, RCL, WHR, F, AOL, HCA, TXN, EXPD, SBUX,  PCAR,  CREE, JOE, ROVI, VAR, AAN, TER, ISIL, INGR, AVY, WHR, CIEN, JDSU, HNT, AGQ, BTU, PCLN, CELG, CHRW, NTAP,

Diagonal Setup:  SMH, MCO, LLTC,

Confirmed MACD Divergence:  DIA, QQQ, GOOG, CTSH, IBM

 

Moves:

Gap Up: PENN, BKD, FLO, SIRO, FL
Gap Down:  SHLD

Bounce: FB, THC, EXPE, TRIP, ADSK, LNKD, GILD, ISRG, WDC, V, VMED, DV, VMW, CHL, CERN

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61 of 100 NDX stocks closed higher and 2 unchanged on Friday…

 

Leading NDX 100 stocks included: GMCR, RIMM, ATVI, EXPE, ADSK, ALXN, ESRX, CTXS, BIIB, SYMC

Lagging NDX stocks included: SHLD, DELL, DLTR, NVDA, VRSN, TXN, SPLS, AMAT, MXIM, ROST

Leading stocks > +2% on Friday included: FB, LVS, TSLA, COH, GRPN, UCO, CRM, LNKD, VECO, URE, WDC, FAS

Lagging stocks < -2.0% included: SINA, NTES, LDK, TSL, SOHU, JNPR, RVBD, FAZ, SWKS, ANF

Stocks to Watch on Monday…

Holding Above 30 DMA = 15
YHOO, MYL, ORLY, CERN, NFLX, RIMM, XRAY, PCLN, SBUX, QCOM, HSIC, GILD, SPLS, CSCO, NTAP

Moving Above 30 DMA = 4

EXPE, GMCR, ISRG, VMED     

Moving Below 30 DMA = 4
DELL, EA, EXPD, TXN     

Staying Below 30 DMA

LRCX, MXIM, XLNX, CHRW, LLTC, MU, PCAR, SIRI, KLAC, LINTA, SHLD, SRCL, FLEX, STX, WYNN, ADBE, AVGO, CMCSA, INTU, MAT, NWSA, SYMC, ADSK, AKAM, AMAT, AMGN, ATVI, COST, EBAY, FISV, GOLD, LIFE, MCHP, MSFT, NVDA, ORCL, PAYX, PNRA, SNDK, WFM, FOSL, ADP, FAST, INTC, BIDU, EXPD, CTSH, PCAR, SIAL, VIAB, ALXN, CELG, ESRX, MNST, TXN, VRSN, BIIB, GOOG, MYL, CHKP,  APOL, INFY, ORLY, VRTX, AMZN, BMC, FFIV, GRMN, VOD, WCRX, DLTR, DTV, NUAN, AAPL, BRCM, CA, CTXS, SYMC, ALTR, BBBY, KLAC, ROST, MRVL, KRFT

Six Week Intermediate Term Market Trend: Down

Short Term Market Trend: Down