All nine sectors moved higher on Friday…XLE, XLI, and XLF were
the strongest sectors…XLP was the
weakest sector.
Breadth strengthened…advancers
led decliners…2.72 to 1 on the NYSE and 2.27 to 1 on
the NASDAQ…
Friday
– strengthened, advancers led
Thursday – weakened,
decliners led
Wednesday – weakened,
advancers led
Tuesday – strengthened,
advancers led
Monday – weakened,
decliners led
SPY
up 1.60 at 166.94…volume 129.8 million shares
VIX
down .62 at 12.45…
TNX
up .84 at 19.49…
TLT
down 1.50 at 117.06...
XLF
up .26 at 19.95…volume 47.9 million shares
AAPL
down 1.32 at 433.26…volume15.2 million shares
FB
up .12 at 26.25…volume 29.4 million shares
Technical Commentary:
IWM + 1.12%, QQQ + 0.96%, SPY + 0.97% and
DIA + 0.74%.
Once again the market proves on
Friday that “news” or “economic announcements or comments,” if that is why that
markets pulled back on Thursday, have the “staying power of a Popsicle in the
hot sun.” Even GILD which was
down on Thursday on “guilty by association” comments on INFI rebounded
on Friday. STX which paused on
Thursday continued its bull flag bounce on Friday.
SPY exceeded
its S&R measuring price target of 165.87.
DIA exceeded
its S&R measuring price target of 152.80.
QQQ continued
above its S&R measuring price target of 73.46.
IWM exceeded
its 161 Fib breakout target
of 97.90 moving towards its S&R measuring price target of 99.95.
The SPY has made a new high on 40
of the 95 trading days in 2013. That’s
42% of the trading day resulting in a new closing high. The inverse 58% of days have not made a new
high close.
IWM led the
other ETFs on Friday. Many stocks which
reached targets this week are in bull flag setups positioning for possible
reentry. See Bull
Flag Setups below.
AAPL -1.31 formed a
piercing line candle on Thursday and paused on Friday in its bull flag pattern
following its 80 point rise from April 19 to May 7.
CTSH, BRCM, CERN and GILD
led the NDX on Friday. JCP
gapped down after earnings and rallied. TSLA
which gapped up on Thursday paused at resistance on Friday.
The Euro moved down 45 pips to 1.2838. TNX interest rates rallied and TLT
bonds moved lower in a bear flag entry.
It’s time to move stops up to protect profits as traders stay with the trend.
Trade what you see on the chart of your position. The intermediate term trend is up with a horizontal resistance breakout setup. Traders should lock in profits when targets
are reached. As always look
for re-entry 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.
EPS Reaction Summary
EPS Gainers – 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 – 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
Key Earnings this week:
CRM, GME, P, NTAP, ROST, SHLD,
The Market Forecast Green Line is
in the Upper Zone.
____________________
Setups
H Breakout: CIEN, CMG,
GS, SPLK, AAPL, BIDU, QCOM, WFM,
Diagonal Breakout: ANGI,
CREE, LNKD, TPX, WLT, YELP, Z, ADBE, AMGN, BBBY, FB, SYMC, TXN,
Bull Flag: ALK, CLF, CNX,
DDD, FIVE, FSLR, GRPN, JCP, LVS, NFLX, NTES, RCL, SOHU, SSYS, DAL, CELG, CMCSA,
FAST, FFIV, GILD, GOOG, INTC, SIRI, WYNN, YHOO
Potential Bullish Divergence:
Gap Up:
Gap Down:
Bear Flag: SWI,
At Support: GLD
Moves
New Highs: GLW, FAS, STI, SPY, QQQ, IWM, DIA, UAL, ZION, BRCM,
COST, CSCO, DTV, GRMN, MSFT, MU, MYL, NVDA, ORCL, PCLN, SBUX, XLNX
Gap Up:
Gap Down: ADSK,
H&D Breakout: ATI, SNDK, WDC,
Bounce: JRCC, UNG, AMZN, TBT, CTSH, ESRX, GILD, STX, WYNN,
MACD Divergence Bounce:
Bear Flag: TLT,
Support Break:
______________________
82 of 100 NDX stocks closed higher
on Friday…two was unchanged…
Leading NDX 100 stocks included: CTSH, PCAR, BRCM, CERN, GILD,
ALTR, WDC, SNDK, MSFT, MYL, MU, AMZN, BIDU, STX, STRZA
Lagging NDX stocks included:
ADSK, GOLD, CTRX, NTAP, CMCSA
Leading stocks > +2% on Friday included: ATI, FAS, ESI, F, SOHU, V, TBT, X, GS,
TPX, NTES, CSTR, ZION, CIEN, FCX
Lagging stocks < -2.0% included: FAZ, CDE, DE
Stocks to Watch on Monday
Holding Above 30 DMA= 83
ADP, GILD, BIIB, MAT, PAYX, YHOO,
SBAC, MSFT, SRCL ,REGN, VOD, BBBY, LIFE, ROST, WYNN, DLTR, INTC, DTV, NWSA,
SBUX, VRTX, WFM, COST, WDC, AKAM, AMAT, GOOG, NVDA, SIAL, SIRI, STX, TXN, BMC,
BRCM, CA, ALXN, ESRX, ORLY, PCAR, XLNX, CERN, CMCSA, FOSL, KLAC, LINTA, MCHP,
XRAY, VRSK, CHKP, ORCL, SHLD, VIAB, EQIX, VMED, LBTYA, CELG, EXPD, GRMN, LLTC,
MYL, PCLN, ADI, MU, NTAP, SPLS, ALTR, BIDU, HSIC, FISV, SNDK, AVGO, EBAY, FFIV,
AMZN, ATVI, CSCO, FAST, QCOM, PRGO, MNST, MDLZ, DISCA, CTXS
Moving Above 30 DMA = 1
CHRW
Moving Below 30 DMA = 1
ADSK
Staying Below 30 DMA
ADBE, AMGN, EXPE, SYMC, STRZA,
MXIM, FB, GOLD, ISRG, CTRX, NUAN, CTSH, DELL INTU
Five Month Intermediate Term Market Trend: Up
Short Term Market Trend: Up
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