Friday, March 22, 2013

SPY Closes Higher As NKE, MU, And APPL Take Off...


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…
TLT up .09 at 117.33…
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. 

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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 DownTIBX, 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

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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

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