All nine sectors moved higher on Friday…XLY, XLP and XLE were the strongest sectors …XLB was the weakest
sector….
Breadth strengthened…advancers
led decliners…1.72 to 1 on
the NYSE and 1.52 to 1 on the NASDAQ…
Friday – strengthened, advancers led
Thursday – weakened, decliners led
Wednesday – strengthened, advancers led
Tuesday – strengthened, decliners led
Monday – weakened, decliner led
SPY up 1.24 at 155.60...volume 111.1 million
shares…
VIX down .42 at 13.57…
TNX down .17 at 19.15…
TNX down .17 at 19.15…
TLT up .09 at 117.33…
XLF up 10 cents at 1818 volume 44.1 million shares
XLF up 10 cents at 1818 volume 44.1 million shares
AAPL up 9.18 at 461.91…volume 14.1 million shares…
FB down 1 cent at`25.73…volume 18.4 million
shares…
Technical Commentary:
DIA + 0.70%, QQQ + 0.97%, SPY + 0.80% and IWM + 0.31% bounced on Friday…
AAPL + 9.18 closed above its 30 dma
for the fifth straight day and confirmed its inverted hammer with a recent high
close bouncing off its S1 and 30 dma… FB -.01… formed a spinning top and closed at Monday’s
support low area and its Fib 50% retracement level from its Nov 12 low… is still a setup for a potential C Pattern
Entry after a support bounce.
The Euro was up 94 pips and closed at 1.2988 on Friday. Banks in Cyprus are closed until next Tuesday
leaving time for alternate bailout plan.
Trade what you see on the
chart of your position. The trend is up
and traders should lock in profits when targets are
reached. As always look for re-entry according to your rules.
The SPY moved higher
as TNX was down slightly and TLT Bonds moved up slightly.
The Market
Forecast Green Line is in the
upper reversal zone.
____________________
Setups
Breakout: FL, NTES,
SLM, AL, ANR, ADM
Diagonal Breakout: ADM,
CBOE, CLB, MGM, BTU, HLF, GNC
Bull Flag: DDD, SINA, TXN, IBM, P, ANGI, NVR, CHK, MWV, MOS, CBG, HES,
CNW, CRR, CBS, PTEN, CIE, AOL, NAV, ABC, AVGO, CTSH, INTU, VIAB, WDC, MBI, CIEN, ZION, ZNGA, DWA, VMW, NFLX, URI, PMCS, MON, FTNT
Potential Bullish
Divergence: CCL, MCP, FB, SLB, CCL, IPI
Bear Flag: WLT, CCL, TFM,
DSW, QCOM, ULTA, EBAY, MJN, HSP
Break of Support: KORS,
EXPD, JOY, A, GRMN, AGU, FB, HRS, IPI, AKAM
Moves
Highlights: NFLX, NTES,
TPX, CREE, SSYS, ANGI, Z, BBRY
Gap Up: NKE, MU, AWAY, WSM, PLCM, WAG
Gap Down: TIBX, TECD, ARG,
ORCL, GES, DE, CAH, FDS
Breakout: AMGN, CMCSA,
FAST, BBRY, NUAN, DECK,
SPWR, Z, TPX, COG, TEX, CORN, UNG, MTW, MDRX, WPO,
SNDK, PBI, PRGO, STRZA, SHLD, TRIP
Bounce: GILD, CRM, CSTR,
VECO, HRB, LNKD, CMP, SPLK, AOL, OGE, ILMN, YHOO, DISH, DISCA, DLTR, GOOG, ICE, LBTYA, MAT,
SBUX, VRTX, ILMN, URI, BBRY, FTI, CHTR, ALXN,
XRX, MSFT, AVP,
MACD Divergence
Bounce: WLT, CCL, RHT, SINA, ROST, EBAY
Bear Flag: GTI, DKS,
JCP, CPRT, DDS, RAX, BTU, CTL
Support Break: CTSH,
RCL, JDSU, JRCC, KLAC, CLF, FFIV
____________________
77 of 100 NDX stocks
closed higher on Friday…
Leading NDX 100 stocks included: MU, MDLZ,
VRTX, CERN, AMGN, BBBY, AMAT, GILD, PCLN, AAPL, CMCSA, VRSK, FAST
Lagging NDX stocks included: MNST, FFIV, CTSH,
CTXS, MYL, CHKP, ORCL
Leading stocks> +2% on Friday included: NKE, GRPN, LNKD, SSYS, UCO, CRUS, CREE
Lagging stocks < -2.0% included: BBRY,
AKS, TSL, LDK, CIEN, MCP
Stocks to Watch on Monday…
Holding Above 30 DMA = 68
VMED, LLTC, DELL, NWSA, SNDK, STRZA, ADP, SYMC,GILD, HSIC, ATVI, CERN, GOOG, ORLY, BIIB, MAT, PAYX, PRGO, YHOO, ALTR, DLTR, ESRX, MNST, AMGN, DISCA, MU, SBAC, TXN, ADBE, CELG, FISV, INTU, QCOM, MSFT, MYL, SRCL, VRTX, MDLZ, LBTYA, VRSK, SIAL, PCLN, REGN, VIAB, ADSK, ORCL, SBUX, SIRI, BMC, CA, CSCO, MXIM, PCAR, VOD, ALXN, AVGO, BBBY, XLNX, XRAY, SHLD, COST, WDC, BRCM, DTV, LIFE, STX, SPLS, WYNN, AAPL, COST, LINTA, MNST, CMCSA, NUAN, GOLD, ROST
VMED, LLTC, DELL, NWSA, SNDK, STRZA, ADP, SYMC,GILD, HSIC, ATVI, CERN, GOOG, ORLY, BIIB, MAT, PAYX, PRGO, YHOO, ALTR, DLTR, ESRX, MNST, AMGN, DISCA, MU, SBAC, TXN, ADBE, CELG, FISV, INTU, QCOM, MSFT, MYL, SRCL, VRTX, MDLZ, LBTYA, VRSK, SIAL, PCLN, REGN, VIAB, ADSK, ORCL, SBUX, SIRI, BMC, CA, CSCO, MXIM, PCAR, VOD, ALXN, AVGO, BBBY, XLNX, XRAY, SHLD, COST, WDC, BRCM, DTV, LIFE, STX, SPLS, WYNN, AAPL, COST, LINTA, MNST, CMCSA, NUAN, GOLD, ROST
Moving Above 30 DMA = 6
ATVI, CHRW, FAST, INTC, WFM, TXN
Moving Below 30 DMA = 3
MNST, MYL, SIAL
Staying Below 30 DMA
CSCO, MCHP, MXIM, NVDA,
ORCL, XRAY, ADI, WDC, CTSH, CTXS, EXPE, FOSL, PCLN, ALTR, AMAT, LLTC, QCOM,
AMZN, SIRI, CTRX, EQIX, CHKP, KLAC, ISRG, EBAY, FFIV, NTAP, GRMN, WFM, EXPD,
AKAM, BIDU, FB
Ten Week Intermediate
Term Market Trend: Up
Short Term Market Trend: Neutral
1 comment:
Apple is overvalued.
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