All nine sectors moved higher on Thursday… XLV, XLF and XLU were
the strongest sectors…XLK was the
weakest sector.
Breadth strengthened…
advancers led decliners…3.54 to 1 on the NYSE and
2.00 to 1 on
the NASDAQ…
Thursday
– strengthened, advancers led
Wednesday – weakened, decliners
led
Tuesday – weakened, decliners
led
Monday – strengthened,
mixed
Friday – weakened,
decliners led
LMCA
replaced VMED in the NDX 100 on Wednesday morning June 5.
NFLX will replaced PRGO in the NDX
100 on Thursday morning June 6.
SPY
up 1.46 at 162.73…volume 200.1 million shares
VIX
down .87 at 16.63…
TNX
down .25 at 20.75…
TLT
down .07 at 115.22...
XLF
up .27 at 19.63…volume 71.3 million shares
AAPL
down 6.65 at 438.46…volume 14.8 million shares
FB
dup .07 at 22.97…volume 31.2 million shares
Technical Commentary:
DIA + 0.63%, SPY + 0.90%, QQQ + 0.49% and
IWM + 1.06%.
The SPY opened moved lower and bounced forming a piercing
line candle. The SPY fell to its 200% target from Monday –
Tuesday’s range before bouncing.
TSLA today formed a bounce entry,
confirmation of Wednesday’s bullish harami and a hammer in its bull flag
pattern.
CIEN +17.41% following
earnings Thursday morning.
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.
The current market condition is sideways with a potential support bounce
forming.
Trade what you see on the chart of your position. The intermediate term trend is up with short-term trend down. Traders should lock in profits when targets
are reached. Look
for potential entries on a bounce or break of support 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:
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 is
below the Upper Zone and is pointed down. Defensive
posture.
____________________
Setups
H Breakout: MNST
Diagonal Breakout: ANGI,
CMG, NTAP, YHOO, BBRY, NVDA, BBBY, NFLX,
QCOM, ROST,
Bull Flag: SPY, STX, CREE,
FSLR, F, NTES, GS, STI, ZION, BAC, C, FAS, GILD, GOOG, WFM, ESRX, WYNN, MAT, MSFT,
SPLK, SBUX, SIRI, GRMN, TIF, P, TBT, SCTY, GRPN,
VECO, INTC, XLNX, AMAT,
Potential Bullish Divergence:
Gap Up:
Gap Down:
Bear Flag:
At Support: CMCSA, CLF, FB, CNX, ADBE,
ADSK, FAST,
Moves
New Highs: MU, WDC, CSCO,
MFRM, PWRD,
Gap Up: CIEN, JDSU
Gap Down:
H&D Breakout: MNST, LNKD,
Breakout Test:
Bounce: BIDU, SNDK, DDD,
TSLA, XONE, SINA, SOHU, AMGN, PCLN, YELP, Z, ATVI, CELG, COST, CTSH, DTV, EBAY,
FFIV, MYL, NUAN, GMCR, SSYS, TPX,
MACD Divergence Bounce:
Bear Flag:
Support Break: AAPL,
______________________
73 of 100 NDX stocks closed higher
on Thursday…
Leading NDX 100 stocks included: REGN, BIDU, BIIB, AMGN, CELG,
FFIV, MU, SIRI, CA, CERN, LMCA, GILD, SPLS, DLTR, ALXN
Lagging NDX stocks included:
ALTR, NFLX, ORCL, XLNX, AAPL, AMAT, DISCA, LLTC, MXIM, KLAC, XRAY, AVGO
Leading stocks > +2% on Thursday included: CIEN, JDSU, VMW, RVBD, TPX, LNKD, SSYS,
FAS, URE, YELP, TSL, SOHU, GMCR, ICE,
FCX, SINA, TSLA
Lagging stocks < -2.0% included: FAZ, NFLX, LDK, SWKS
Stocks to Watch on Friday
Holding Above 30 DMA= 32
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
Moving Above 30 DMA = 11
COST, CTSH, DLTR, DTV, EXPD, FOSL, MYL, NVDA, SBUX, YHOO,
REGN
Moving Below 30 DMA = 4
AAPL, ALTR, ORCL, NFLX
Staying Below 30 DMA
ADBE, FAST, LLTC, MCHP, NWSA,
ORLY, SIRI, TXN, DRFT, ADP, AKAM, BIIB, BMC, FFIV, GOOG, PAYX, SRCL, VRTX,
WYNN, XRAY, DISCA, BRCM, CELG, GILD, ALXN, ATVI, BBBY, CTXS, EBAY, GRMN, VIAB,
ROST, LBTYA, FISV, MAT, MDLZ, CHRW, CMCSA, SHLD, SBAC, QCOM, VOD, EQIX, VRSK,
ADSK, AMGN, EXPE, SYMC, MXIM, FB, CTRX, NUAN, INTU
Five Month Intermediate Term Market Trend: Up
Short Term Market Trend:
Down
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