SPY New High Close Following Strong Jobs Report..P, YELP, UAL, TPX, VRTX, MU Makes Gains...

All nine sectors moved higher on Friday…  XLY, XLI and XLB were the strongest sectors …XLV was the weakest sector…. 

Breadth strengthened advancers still led decliners…2.07 to 1 on the NYSE and 2.11 to 1 on the NASDAQ…

Friday – strengthened, advancers led

Thursday – strengthened, advancers led

Wednesday – weakened, advancers led

Tuesday – strengthened, advancers led

Monday – weakened slightly, advancers led

SPY up 66 cents at 155.44...volume 123.4 million shares…

VIX down .47 at 12.59
TNX up .65 at 20.56…

TLT down 1.21 at 114.75…
XLF up .05 cents at 18.24 volume 61.1 million shares

AAPL up 1.14 at 431.72…volume 13.9 million shares…

FB down 62 cents at`27.96…on volume on 44.1 million shares…

Technical Commentary:

Stock futures move higher after a strong jobs report and SPY gapped higher then spent the first hour filling the gap and recovered over the balance of the day to close 2 cents below its open.  UAL +5.88% led airline stocks (ALK, DAL, LCC) higher on news that its load factor and passenger revenue per available seat mile improved.

IWM +0.93%, DIA +0.43%, SPY +0.43%, and QQQ +0.12%...all moved higher.  DIA, SPY and IWM moved to another new high close and QQQ rallied to a five-month high as AAPL moved slightly higher.

AAPL +1.14 followed Thursday’s bounce from short-term support.   FB down 62 cents pulled back after Thursday’s rally ending higher for the second straight week.  FB is just below its 30 DMA and is a setup for a potential C Pattern Entry.  On Friday MS reiterated its overweight rating on FB.

P +17.65% after reporting better than expected quarterly results on Thursday.

The Euro fell 111 pips giving back much of Thursday’s gain and closed at 1.2995 on Friday.

Trade what you see on the chart of your position. The trend is in consolidation and traders should lock in profits when targets are reached. As always look for re-entry according to your rules.

The SPY’s trend continued higher.  XLI turned positive as it broke out of resistance on Friday.  Seven of nine sector ETFs including XLP, XLU, XLV, XLY, XLK, XLF are now positive XLB and XLE continued neutral.

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

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Setups

Breakout:  DE, LVS, CNX, ANR, JRCC, BTU, UNG, ESRX, SNDK, URI, MON, MDRX, TSCO, CRR, CBOE, CLB, CBG

Diagonal Breakout:  MNST, MCHP, FAST, BBRY, GME, SINA,

Bull Flag: WHR, ICE, SLM, WDC, QCOM, CHKP, STZ, PM, CREE, ASNA, CIEN

Potential Bullish Divergence: 

Gap Up:

Gap Down:

Bear Flag: INT, ACI, WLT, CLF, OC, RAX, DNDN, A, LIFE, GRMN, DDS, AGU, PETM, HSP

Break of Support:  EBAY, HRS, ROST, DDD

Moves

Highlights: NFLX, NTES, TPX, CREE, SSYS, ANGI, Z, BBRY

Gap Up:  P, NAV, HRB, TPX, STI

Gap Down:  FL

Breakout: SHLD, CHK, BMC, MWV, TW, CSTR, PPO, AVGO, MOS, YELP, TRIP, RF, ANGI, ATVI, STRZA, Z, JPM, CTSH, ORCL, NDSN, VECO, FIVE, HPQ,TXN, ILMN, AIZ, ORLY, TPX, CBS, VMI, CTXS,  AWAY, AMGN, MBI, LNKD, PBI, YELP, AL, COG, HES, DECK, CRM

Bounce:  UNG, JDSU, AVX, GES, SPLK, BBRY, CLR, AVP, MJN, SPWR, JRCC, ANR, ACI, WLT, BTU, CNW, MTW, SHLD, NTES, EQIX, TEX, IM, FTNT, AOL, KORS, ADM, ZION, PCLN, IBM, PRGO, GNC, ZNGA, NFLX, HLF, BPOP, FAST, PTEN, XRX, FTI, PMCS

MACD Divergence Bounce:  EQIX, BBRY, FB

Bear Flag: RAX, CCL, CTL, ULTA, STX, EXPD, CORN, NBR, MGM, POT, SLB, SWKS, AKAM

Support Break:  RCL, IPI, TFM, FFIV, JCP

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68 of 100 NDX stocks closed higher on Friday…and two remained the same

Leading NDX 100 stocks included:  VRTX, MU, VOD, PCAR, NWSA, STRZA, ROST, VIAB, DTV, GRMN, SHLD, SPLS, BMC, SRCL, HSIC

Lagging NDX stocks included:  FB, GOLD, CTRX, INTC, BIDU, ALXN, WFM, ATVI, MNST, ORCL, BRCM, MSFT, DELL, SYMC

Leading stocks> +2% on Friday included: YELP, UAL, TPX, C, MCP GRPN, STI, CRUS, GMCR, CSTR, AKS, ANR, GES, TBT

Lagging stocks < -2.0% included:  RCL, ESI, GS, CIEN, FB, JNPR

Stocks to Watch on Monday…

Holding Above 30 DMA = 75
VMED, ADI, LLTC, DELL, NWSA, AMAT, CHKP, FAST, MCHP, SNDK, STRZA, ADP, SYMC,GILD, HSIC, ATVI, CERN, GOOG, ORLY, BIIB, MAT, PAYX, PRGO, YHOO, ALTR, DLTR, CTRX, ESRX, MNST, AMGN, DISCA, MU, SBAC, TXN, ADBE, CELG, CMCSA, FISV, INTU, NVDA, QCOM, MSFT, MYL, SRCL, VRTX, MDLZ, LBTYA, VRSK, WDC, SIAL, CTSH, CTXS, PCLN, REGN, VIAB, ADSK, AMZN, COST, INTC, ORCL, SBUX, SIRI, BMC, CA, CSCO, MXIM, PCAR, BOD, ALXN, AVGO, BBBY, XLNX, XRAY, LINTA, SHLD

Moving Above 30 DMA =3

COST, EQIX, WDC

Moving Below 30 DMA = 0                                                   

                                                                            

Staying Below 30 DMA

EXPE, MNST, ROST, FOSL, KLAC, LIFE, SPLS, BRCM, ISRG, SHLD, EBAY, FFIV, NTAP, XRAY, AVGO, BBBY, GRMN, WYNN,  STX, WFM, EXPD, DTV, NUAN, AKAM, GOLD, CHRW, BIDU, ALXN, FB, AAPL

Ten Week Intermediate Term Market Trend: Up

Short Term Market Trend: Up