All nine sectors moved higher for the second straight day on Friday… XLI, XLY and XLY were
the strongest sectors…XLU was the
weakest sector.
Breadth weakened slightly… advancers
led decliners…2.25 to 1 on the NYSE and
2.07 to 1 on
the NASDAQ…
Friday
– weakened slightly, advancers led
Thursday – strengthened,
advancers led
Wednesday – weakened,
decliners led
Tuesday – weakened, decliners
led
Monday – strengthened,
mixed
NFLX replaced PRGO in the NDX 100 on
Thursday morning June 6.
SPY
up 2.07 at 164.80…volume 188.3 million shares
VIX
down -1.49 at 15.14…
TNX
up .86 at 21.61…
TLT
down -2.06 at 113.16...
XLF
up .34 at 19.97…volume 53.2 million shares
AAPL
up 3.35 at 441.84…volume 14.4 million shares
FB
up .32 at 23.29…volume 38.7 million shares
Technical Commentary:
DIA + 1.38%, QQQ + 1.37%, SPY + 1.27% and
IWM + 0.77%.
The SPY gapped up after the Jobs Report showed 175,000 new
jobs created in May and moved higher all day, closing near its high of the day for the second straight day. The SPY regained
52% of its drop over the prior ten days in just the last two
trading days.
The gain in the SPY on
Thursday and Friday, is the strongest two day rally of 2013 based on volume,
being the first and third highest share volume days of 2013.
When looking at SPY volume
on a dollar basis Jan 2, the second highest share volume day of 2013, traded $27.786
billion. Thursday’s SPY dollar
volume was $32.316 billion and Friday’s was $32.695 billion. When observing dollar volume, volume
actually increased from Thursday to Friday.
Big money was is behind this rally in a big way! (Dollar volume numbers were based on
average price for each day.)
TSLA +4.82% closed above $102 again continuing its bounce in
its bull flag pattern.
The current market condition is support
bounce entry and trend resumption.
Trade what you see on the chart of your position. The intermediate term trend is up and the short-term trend is again up. Many bull flag entries and diagonal breakout
entries including the broad and sector indexes occurred on Friday. Trade to
targets according to your rules.
Chart Signals Strategy Guidelines
When the market is trending up Chart Signals looks for support bounce and resistance breakout entries.
When the market is trending down Chart signals looks for resistance pull back and support break entries.
When the market is sideways in consolidation Chart Signals will look for support bounce, diagonal breakouts and pull backs at resistance where price action stays between support and resistance.
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 – CIEN, 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 is
below the Upper Zone and is pointed down. Defensive
posture.
____________________
Setups
H Breakout: GS, CTSH,
ADBE, CSCO, SCSS, SINA, SOHU, YELP, AMZN, CMCSA, MSFT,
Diagonal Breakout: CRM,
NFLX, GLW, Z, JCP, AAPL, LVS, FB, BBRY, RAX, RCL, NVDA, ATI, AKAM, BRCM, GRMN,
MYL, ORCL, QCOM, SWI,
Bull Flag: XLNX,
GRPN, VECO, STX, FSLR,
SCTY, INTC, DDD, COST,
Potential Bullish Divergence:
Gap Up:
Gap Down:
Bear Flag:
At Support: CNX, CLF, FAST, TLT
Moves
New Highs: MU, WDC, MFRM,
PWRD, CIEN, JDSU, JNPR, MNST,
Gap Up:
Gap Down: IRM
H&D Breakout: BIDU, CELG, MS, GME, ANGI, CMG, ESI, ALK, P,
SOHU, TPX, UAL, YELP, ADBE, ADSK, AMGN, AMZN, BBBY, CMCSA, NTAP,NUAN, PCLN, ROST,
SYMC, YHOO
Breakout Test:
Bounce: SPY, IWM,
QQQ, DIA, FAS, GS, SBUX, CREE, F, NTES, GILD, GOOG, AMAT, WFM, ESRX, WYNN, MAT,
MSFT, SPLK, SIRI, GRMN, TIF, P, TBT, STI, ZION, BAC, C, FAST, CRM, AAPL, GLW, SCSS,
DTV,
MACD Divergence Bounce:
Bear Flag: GLD,
Support Break: UNG, WLT,
______________________
87 of 100 NDX stocks closed higher
and one unchanged on Friday…
Leading NDX 100 stocks included: VRTX, CELG, CA, CTRX, LBTYA,
BIDU, CHKP, AMAT, AMZN, SBUX
Lagging NDX stocks included:
EQIX, GOLD, QCOM, MXIM, FFIV, COST, SNDK, STX, CSCO, INTC
Leading stocks > +2% on Friday included: ESI, UAL, TSLA, FAS, ANF, CRM, SOHU,
GS, GRPN, YELP, TBT, ICE, UCO, JNPR, CIEN, CREE, JDSU, SINA, LDK, GLW, CSTR,
COH, ATI, RCL
Lagging stocks < -2.0% included: CDE, FAZ, ANR, CLF
Stocks to Watch on Monday
Holding Above 30 DMA= 42
MSFT, LIFE, INTC, WFM, WDC, AMAT,
LMCA, SIAL, STX, CA, ESRX, PCAR, XLNX, CERN,
KLAC, LINTA, CHKP, ADI, PCLN, MU, NTAP, SPLS, BIDU, HSIC, SNDK, AVGO,
CSCO, ISRG, AMZN, GOLD, DELL, MNST, CTSH, DLTR, DTV, EXPD, FOSL, MYL, NVDA,
SBUX, YHOO, REGN
Moving Above 30 DMA = 9
BBBY, BIIB, GOOG, INTU, LBTYA, ORLY, SIRI, VIAB, VRTX
Moving Below 30 DMA = 1
COST
Staying Below 30 DMA
AAPL, ALTR, ORCL, NFLX, ADBE,
FAST, LLTC, MCHP, NWSA, TXN, KRFT, ADP, AKAM, BMC, FFIV, PAYX, SRCL, WYNN,
XRAY, DISCA, BRCM, CELG, GILD, ALXN, ATVI, CTXS, EBAY, GRMN, ROST, FISV, MAT,
MDLZ, CHRW, CMCSA, SHLD, SBAC, QCOM, VOD, EQIX, VRSK, ADSK, AMGN, EXPE, SYMC,
MXIM, FB, CTRX, NUAN
Five Month Intermediate Term Market Trend: Up
Short Term Market Trend: Up
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