All nine sectors moved lower on Friday…XLU, XLK and XLI were
the strongest sectors…XLV was again
the weakest sector.
Breadth weakened… decliners
led advancers…5.59 to 1 on the NYSE and 2.57 to 1 on the NASDAQ…
Friday
– weakened, decliners led
Thursday – strengthened,
advancers led
Wednesday – weakened,
decliners led
Tuesday – strengthened,
advancers led
Monday – Memorial Day
SPY
down 2.38 at 163.44…volume 176.7 million shares
VIX
up 1.77 at 16.30…
TNX
up .40 at 21.64…
TLT
down 39 cents at 114.45...
XLF
down 33 cents at 19.84…volume 60 million shares
AAPL
down 1.84 at 449.73…volume 13.7 million shares
FB
down 20 cents at 24.35…volume 35.9 million shares
Technical Commentary:
QQQ -0.92%, IWM -1.10%, DIA -1.31%, and
SPY -1.44%.
The ES futures have its first seven-day pullback of 2013 with Friday’s move lower closing just above its
38.2% Fib retracement level of 1,626.54.
If Friday’s level is broken the next support level is the 50% Fib
retracement at 1,608. The same
relationship is also present on the SPY closing just above its 38.2% Fib
retracement level of 163.14. The SPY hit
a low of 163.13, one cent below its Fib before bouncing 31
cents. Probably just random price action
in some eyes.
The broad Indexes which
formed pennant patterns did have a diagonal breakout (alerted to look for
Thursday) to the downside on Friday.
XLB and XLE
shifted neutral while XLP, XLV and XLY shifted negative joining
XLP. XLF, XLI and XLK remain
positive. Three sectors positive,
two neutral and four negative. The
current sector structure is now neutral even though the four-week plus
(intermediate) term trend is still up.
Be alert for a potential
break of Fibonacci support on Monday.
Trade what you see on the chart of your position. The intermediate term trend is up with short-term trend down in a break of pennant
support. Traders should lock in profits
when targets are reached. Look
for potential entries in both directions according to your rules.
Chart Signals Strategy Guidelines
Technical setups for
short-term option trades be in and out by earnings release.
Over earnings release use earnings option strategies such as straddles, strangles, OTM calls
or puts.
After earnings look for
bullish setups in positive reaction stocks and bearish setups in negative
reaction stocks.
Earnings this Week: CIEN,
EPS Reaction Summary
EPS Gainers – GES, SPLK,
PWRD, HPQ, NTAP, AZO,
MDT, CSCO, A, MCP, WCRX, NVDA, PCLN, GMCR, GRPN,
TSLA, EA, DVA, WFM, CTSH, DTV, LBTYA, AIG, ADP, CBOE, REGN, FB,
BZH, EXPD, GM, MDC, STX, V, YELP, ICE, JRCC, VIAB, CMCSA, DDD,
AVP, HLF, CERN, CVX, DHI, TWC, ANGI, AKAM, ALXN, ALTR, BIIB, COG,
CLF, CROX, DOW, ESI, FFIV, HOG, LRCX, LVS, MO, PHM, RCL, SIAL, XLNX, BA,
BRCM, GLW, HES, DAL, COH, DD, NFLX, ILMN, VECO, LCC, RF, ZION, TRV, LMT,
CAT, CHKP, HAL, HAS, CMG, GOOG, KMB, STI, MSFT, BTU, PEP, UNP, VZ, MAT,
AXP, JNJ, INTC, KO, C, APOL
EPS Losers – CPRT, COST, TSL,
CRM, GME, SHLD, DISH, XRAY, ATVI, RAX, MNST, Z, LNKD,
TPX, ZAGG, CTRX, GRMN, MRK, SWI, AMZN, BIDU, CRUS, DECK,
EXPE, HSY, KLAC, MXIM, QCOM, PTEN, ABC, MMM, AMGN, T, JNPR, PNRA,
VMW, GE, IBM, ISRG, MCD, MS, PM, UNH, SNDK, EBAY, BAC, USB, GS, LLTC
The Market Forecast Green Line closed
below the Upper Zone and is pointed down.
____________________
Setups
H Breakout: DDD, STI,
FAST, MSFT, SNDK,
Diagonal Breakout: ANGI,
BBRY, FAS, FSLR, SCSS, SCTY, SINA, SOHU, SSYS, IWM, QQQ, AKAM, AMZN, BBBY,
BIDU, BRCM, CELG, EBAY, FB, FFIV, NTAP, ORCL, PCLN, YHOO
Bull Flag: BAC, C,
CNX, CREE, F, GMCR, GS, JNPR, TIF, TSLA, VECO, YELP, ZION, COST, CSCO, DTV, ESRX,
GOOG, MAT, MU, MYL, SIRI, STX, WDC, WFM, XLNX,
Potential Bullish Divergence:
Gap Up:
Gap Down:
Bear Flag: CRM, SWI, ADBE,
ADSK, FB, TXN,
At Support: ALK, ANR,
CMG, GLW, JCP, LNKD, RCL, RAX, TLT, TPX, UAL, UNG, WLT, Z, GILD, GRMN,
Moves
New Highs: GRPN,
NTES, PWRD, XONE,
Gap Up: GES
Gap Down:
H&D Breakout:
Breakout Test:
Bounce: FIVE, NFLX, SPLK,
TBT,
MACD Divergence Bounce:
Bear Flag: GLD, NUAN,
Support Break: ATI, SPY,
AMGN, WYNN
______________________
12 of 100 NDX stocks closed higher
and one was unchanged on Friday…
Leading NDX 100 stocks included: CTRX, SHLD, FAST, AMZN, DELL,
INTC, CERN, SPLS, SRCL, HSIC
Lagging NDX stocks included:
AMGN, REGN, ATVI, ALXN, VRTX, DTV, VIAB, NUAN, STRZA, WFM
Leading stocks > +2% on Friday included: GES, FAZ, GRPN
Lagging stocks < -2.0% included: TSLA, TSL, SSYS, FAS, CLF, UCO, ICE, CDE,
MCP, BBRY, LDK, X, HUM, FCX, URE, C, CMG, SLB, RCL, ANR, CREE
Stocks to Watch on Monday
Holding Above 30 DMA= 53
GILD, BIIB, YHOO, MSFT, LIFE,
INTC, DTV, SBUX, VRTX, WFM, WDC, AKAM, AMAT, GOOG, NVDA, SIAL, SIRI, STX, BMC,
BRCM, CA, ESRX, ORLY, PCAR, XLNX, CERN, AAPL, FOSL, KLAC, LINTA, CHKP, ORCL,
EXPD, LLTC, MYL, PCLN, ADI, MU, NTAP, SPLS, ALTR, BIDU, HSIC, SNDK, AVGO, FFIV,
CSCO, FAST, ISRG, AMZN, CELG, CTSH, GOLD
Moving Above 30 DMA = 1
DELL
Moving Below 30 DMA = 18
ADP, ALXN, ATVI, BBBY, COST, CTXS, DISCA, DLTR, EBAY, GRMN,
MCHP, NWSA, PAYX, REGN, STRZA, TXN, VIAB, WYNN
Staying Below 30 DMA
LBTYA, ROST, VMED, FISV, MAT,
SRCL, PRGO, MDLZ, CHRW, CMCSA, MNST, SHLD, SBAC, QCOM, VOD, XRAY, EQIX, VRSK,
ADSK, ADBE, AMGN, EXPE, SYMC, MXIM, FB, CTRX, NUAN, INTC
Five Month Intermediate Term Market Trend: Up
Short Term Market Trend:
Down
