Friday, July 26, 2013

Broad Markets Post Neutral Week as FB, AAPL, AMZN, BIDU, GILD, SBUX, TRIP and V Among the Big Winners...

Four of nine sectors moved higher on Friday… XLV, XLU and XYY were the strongest sectors…XLB was the weakest sector.

Breadth weakened…decliners led advancers…1.10 to 1 on the NYSE and 1.63 to 1 on the NASDAQ…

Friday – weakened, decliners led
Thursday – strengthened, advancers led
Wednesday – weakened, decliners led
Tuesday – weakened, mixed
Monday – strengthened, advancers led


SPY up .18…volume 107.8 million shares
VIX down .25 at 12.72…
TNX down .46 at 25.61…
TLT up .66 at 108.14...
XLF down .02 at 20.64…volume 30.7 million shares

AAPL up 2.49 at 440.99volume 7.1 million shares
FB down .35 at 34.01volume 136 million shares


Technical Commentary:
QQQ + 0.53%, SPY + 0.11%, DIA + 0.03%, IWM – 0.40%.

The third week of Q2 earnings is the book with many big name stocks AAPL, AMZN, BIDU, CELG, FB, GILD, SBUX, TRIP, V and EA on the winning side of earnings reactions.  On the negative side of the reactions were CAT, CROX, CRUS, DECK EQIX, EXPE, STX, SWI, TPX and WDC.  All of this led to a typical broad market reaction in the SPY 169.11 down 6 cents for the week, almost no change after trading 491.9 million shares.  Big moves canceling each other out in the broad market.

The big news for the SPY is that it held above its horizontal resistance breakout area of 168.18IWM was down 19 cents for the week while QQQ was up 78 cents for week on the strength of AAPL, AMZN, BIDU, CELG, SBUX and other NDX winners.

TSLA +5.32 made its second highest close 129.39 on Friday just below its all-time high close on July 12.

Earnings announcements continue as the fourth week of earnings season begins on Monday.  Chart Signals is focusing on stocks with announcements and stocks that have had a positive earnings reactions over the past two weeks.


This Week Earnings of Interest
Monday – ESRX, MTW, SOHU, VECO, VRTX, WYNN
Tuesday – DDD, AET, AMGN, ACI, BWLD, COH, GLW, DISCA, FISV, MDC, NYX, QCOR, RVBD, X
Wednesday – CMCSA, CTRP, HES, HUM, LRCX, MA, MCHP, SODA, WFM, YELP
Thursday – ATVI, AIG, APA, ADP, BZH, CME, CTRX, CHK, COP, XRAY, XOM, K, KRFT, LNKD, MELI, MYL, NUS, ZAGG
Friday – ANR, EAT, CBOE, CVX, VIAB, YOKU


Q2 Earnings Reactions
Positive Reactions – SWK, SBUX, ALK, AMZN, CELG, CB, CLF, GILD, IP, MXIM, RCL, HSY, UA, UAL, V,   FB, BIDU, TRIP, COG, CTXS, ETFC, FFIV, AKAM, AAPL, EA, VMW, DAL, LCC, EMC, LLY, MCO, AKS, FCX, BTU, UTX, HAS, TXN, GE, HON, SLB, STI, WHR, CHKP, CMG, JCI, KEY, MS, OSTK, SWKS, UNP, UNH, BAC, IBM, SNDK, XLNX, CSX, GS, URI, YHOO, C, WFC

Negative Reactions – DLR, CERN, CRUS, DECK, DNKN, EXPE, KLAC, POT, PCP, SWI, TPX, EQIX, ABC, CROX, ANGI, ATI, CAT, WDC, PNRA, STX, NSC, USNA, TRV, MCD, MO, NFLX, ZION, BHI, AMD, GOOG, ISRG, MSFT, EBAY, INTC, MAT, SCSS, USB, AXP, KO, MOS


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.


The Market Forecast Green Line and is in the upper zone. 

____________________

Setups
H Breakout: AKAM, AMGN, FAST, QCOM, SYMC, XLNX, ALK, ATI, CMG, DDD, ESI, GMCR, GRPN, RCL, TIF, YELP,

Diagonal Breakout: AAPL, SHDL, GLD, TLT, XONE,

Bull Flag: ADBE, ADSK, AMAT, CMCSA, COST, CSCO, CTSH, DTV, GRMN, MNST, NTAP, ROST, BAC, C, CIEN, CREE, F, FAS, FIVE, GS, SPY,

Potential Bullish Divergence:  

Gap Up:

Gap Down: 

Bear Flag:   

At Support: GOOG, MSFT, MU, STX, UNG, ZION,


Moves
New Highs: CELG, MYL, CME, KKD, LNKD, SOHU,  

Gap Up: ATVI, GILD, SBUX, TSLA,

Gap Down: BBBY, MFRM, TPX, UNG,

H&D Breakout: AMZN, CLF,  

Breakout Test: 

Bounce: ESRX, MAT, WFM, DNKN, JCP, LVS, SCTY,

MACD Divergence Bounce:  

Bear Flag:  

Support Break: PCLN, SNDK,

______________________


47 of 100 Leading NDX stocks closed higher on Friday and two were unchanged.


Leading NDX 100 stocks included: ATVI, SBUX, ALXN, AKAM, TSLA, AMZN, GILD, MYL, CELG, GOLD, MXIM, EXPD, QCOM, ISRG, WFM, EBAY

Lagging NDX stocks included:  EXPD, VRTX, SNDK, MU, STX, CERN, BIIB, KLAC, NUAN, BBBY, WDC, PCLN, FB

Leading stocks > +2% on Friday included:  CLF, UAL, GRPN, TSLA, ANR, VRXN, AKS, SOHU, LDK, LNKD, GMCR

Lagging stocks < -2.0% included: SWI, CRUS, TPX, DECK, CIEN, ESI, JNPR, A, NTES, VMW

Stocks to Watch on Monday
Holding Above 30 DMA= 77
TSLA, SPLS, CSCO, AMZN, DLTR, ADBE, INTU, BBBY, MCHP, PCLN, SRCL, ALTR, CA, LINTA, MNST, ORLY, PCAR, ROST,VOD, VIAB, FB, LBTYA, KRFT, LMCA, FOXA, CMCSA, HSIC, DISCA, VRSK, ADP, ALXN, CHKP, CTSH, DTV, FOSL, NTAP, SYMC, WFM, NFLX, BMC, CELG, ESRX, FISV, LLTA, XLNX, ADI, ATVI, BIIB, CHRW, COST, CTXS, EXPD, GILD, LIFE, MYL, PAYX, XRAY, TXN, SIAL, AKAM, AMAT, GRMN, KLAC, YHOO, AMGN, REGN, SBAC, ADSK, BIDU, FFIV, MDLZ, CTRX, GOLD, QCOM, AAPL, FAST, SBUX  


Moving Above 30 DMA = 2
MXIM, WYNN


Moving Below 30 DMA = 4
CERN, EXPE, NUAN, VRTX

Staying Below 30 DMA
GOOG, SNDK, EQIX, WDC, MU, STX, AVGO, SHLD, EBAY, MSFT, NVDA, BRCM, MAT, DELL, ISRG, INTC

Four-Week Intermediate Term Market Trend: Up
Short Term Market Trend: Neutral

1 comment:

TraderBobb said...

Dave:
Thanks-been gone for a bit and ready to "git r done"
Robert
CANI_212