Breadth strengthened on Friday as advancers led decliners …1.22 to 1 on the NYSE and decliners led advancers 1.17 to 1 on the NASDAQ…
SPY up 43 cents at 142.41...volume 108.7 million shares…
VIX down -0.68 at 15.90…
TNX up 0.46 at 16.27…
TNX up 0.46 at 16.27…
TLT down 1.16 at 124.43…
XLF up 12 cents at 16.02…volume 36.2 million shares
XLF up 12 cents at 16.02…volume 36.2 million shares
AAPL down 13.99 at 547.24…volume 28.1
million shares …
FB up 51 cents at`27.48…on volume of 51.7 million
shares…
__________________
Technical
Commentary:
The SPY
formed a gap up spinning top at horizontal resistance above its 30 DMA. The VIX closed lower
and did confirm the SPY
move up today.
The ES closed up
4.50 at 1,417.25 as the 1,400 support area held
again on Thursday…NQ futures closed down 18.75 at 2,656.25 as AAPL fell to support again.
Coal stocks ANR, WLT, BTU, ACI continued
higher and CNX and JRCC paused as WDC continued
to move big and STX paused.
The weight of
the evidence continues to suggest the Nov 16 low is likely to hold and Friday’s price action
suggests the SPY bounce is preparing for a potential breakout which
did occur in the DIA, leading to a continuation to higher levels.
The Euro closed down 41 pips
at 1.2965 on Friday after bouncing at its 30 DMA.
TNX, interest rates rose
and TLT, bonds moved down -1.16. XLF moved 12 cents to 16.02.
SPY – spinning top,
bull flag at T1, above 30 DMA
AAPL – large
black candle, lower close higher low, below 30 dma
FB – bullish harami,
bull flag, BO target 29.63
FAS –bounce
potential hanging man, BO higher close
AMZN – spinning top,
BO setup, BO target 259.24
EXPE – inverted
hammer, bull flag
STX – black candle,
BO target 29.98
VIAB – large white
candle BO continuation
RIMM – spinning
top, BO setup
CRUS – spinning top
at support, DBO setup
F – large white
candle, bull flag bounce
PHM – spinning top
confirms hammer, symmetrical triangle below 30 DMA
SWK – spinning top
bounce in bull flag above 30 DMA
SWI – spinning top,
bull flag setup
RAX – hammer, bull
flag setup above 30 DMA
URI – spinning top,
high close, BO setup
YELP gap bullish
engulfing, bull flag setup under 30 DMA
XHB – black candle,
DBO setup, below 30 DMA
XRT – gap black
candle above 30 DMA
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 = 1.3140, 1.3172 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: DECK, F, MCP, RAX, RCL, EXPE, GMCR, YELP, AKAM, EBAY,
FFIV, ORCL, BIG, KAR, COH, OSK, ROVI, CHL, EXPD, PCAR, PAY,
Horizontal
Setup: JNPR, SMH, URI, AMZN, RIMM, TXN,
ULTA
Diagonal
Setup: CMG, CRUS, ADSK, CRM
Moves:
Breakout: WDC,
DE, STI, TER, IBM, GRA
Bounce:
GRPN, DECK, F, PXP, TSCO, TIBX, C, FAS, SWK, CTSH, EA, VMW, NKE, PCS, ACI, WLT, BTU, SHLD, AVP, CCO, FCX
____________________
46 of 100 NDX
stocks closed higher and one unchanged on Friday…
Leading NDX 100 stocks included: SHLD,
CTXS, CHKP, BRCM, SNDK, VIAB, MNST, NTAP, ALTR, PCAR
Lagging NDX stocks included: GMCR, SHLD, CHRW, EXPD, PCAR, KRFT, INFY, WCRX, GILD, ESRX
Leading stocks > +2% on Friday included: GRPN, LDK, TSL, YELP, ANR, FCX, CDE, DECK, ANF, HUM, F
Lagging stocks < -2.0% included: NTES, SOHU, FSLR, SWKS
Stocks to
Watch on Friday…
Holding Above 30 DMA = 73
YHOO, MYL, ORLY, CERN, RIMM, XRAY, PCLN, SBUX, QCOM, HSIC, GILD, NTAP, CSCO, EXPE, GMCR, VMED, ATVI, EA, EXPD, LLTC, MXIM, PCAR, TXN, XLNX, AMGN, BIIB, CELG, EBAY, LIFE, SIAL, AMZN, FISV, ADSK, AVGO, DELL, FFIV, MAT, MRVL, MU, ORCL, BRCM, SRCL, COST, MNST, ADBE, CMCSA, GOOG, GRMN, NWSA, SYMC, WYNN, AMAT, CTSH, PAYX, ADP, APOL, FOSL, INTU, KLAC, NFLX, VIAB, FLEX, NUAN, STX, AKAM, ALTR, BMC, CHKP, DTV, FAST, MCHP, SNDK, VOD
YHOO, MYL, ORLY, CERN, RIMM, XRAY, PCLN, SBUX, QCOM, HSIC, GILD, NTAP, CSCO, EXPE, GMCR, VMED, ATVI, EA, EXPD, LLTC, MXIM, PCAR, TXN, XLNX, AMGN, BIIB, CELG, EBAY, LIFE, SIAL, AMZN, FISV, ADSK, AVGO, DELL, FFIV, MAT, MRVL, MU, ORCL, BRCM, SRCL, COST, MNST, ADBE, CMCSA, GOOG, GRMN, NWSA, SYMC, WYNN, AMAT, CTSH, PAYX, ADP, APOL, FOSL, INTU, KLAC, NFLX, VIAB, FLEX, NUAN, STX, AKAM, ALTR, BMC, CHKP, DTV, FAST, MCHP, SNDK, VOD
Moving Above
30 DMA = 2
BBBY, CTXS
Moving Below 30 DMA = 5
ALXN, DLTR, KRFT, SIRI, WFM
Staying Below 30 DMA
CHRW, INFY, AAPL, NVDA, WCRX, SPLS, LRCX, ISRG,
LINTA, SHLD, GOLD, MSFT, PNRA, INTC, BIDU, ESRX, VRSN, VRTX, CA,
ROST
Fourteen Week
Intermediate Term Market Trend: Neutral
Short Term Market Trend: Up
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