SPY, Financials, Euro Pause as FB Makes Another Recent High...

Five of nine sectors moved higher on Friday… XLU, XLP, and XLV were the strongest sectors. 

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…

TLT down 34 cents at 124.79…
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…

­­­__________________

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

EUR/USD = 1.3076 short-term resistance

Short-term support at
1.2954, 1.2878 = Euro

140.69 = SPY

83.20 = SPXL
1,396 = ES
2,626 = NQ

Setups:
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

 

Breakout: SLB, SWI, V

____________________

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

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