All nine sectors moved higher on
Thursday… XLK, XLB and XLU were
the strongest sectors…XLE was the
weakest sector.
Breadth strengthened advancers
led decliners…6.73 to
1 on the NYSE and 2.52 to 1 on the NASDAQ…
Thursday
– strengthened, advancers led
Wednesday – weakened
slightly, advancers led
Tuesday – strengthened,
advancers led
Monday – strengthened,
advancers led
Friday – strengthened,
advancers led
SPY
up 2.25…volume 133.4 million shares
VIX
down .20 at 14.01…
TNX
down 1.06 at 25.74…
TLT
up 1.26 at 107.81...
XLF
up .19 at 20.21…volume 60.4 million shares
AAPL
up 6.56 at 427.29…volume 11.6 million shares
FB
up .01 at 25.81…volume 26.7 million shares
Technical Commentary:
SPY + 2.25%, DIA + 1.67%,
QQQ + 1.46%, IWM + 1.17%.
Seven out of nine sectors…XLB,
XLI, XLK, XLP, XLU, XLV, and XLY all gapped up today…allowing the S&P 500 to set an all-time high in trading today. The NDX closed higher with 95 out of 100 closing higher today. Of the NDX stocks…19 closed up higher by 3% or more…or almost 20% of the
NDX.
GOLD gapped up
today after making a double bottom with a positive MACD divergence. GOLD was 7.18
or 11.83%. FFIV also gapped up
from a double bottom with a positive MACD divergence closing up 4.14 or 5.75%.
CELG gapped up
breaking through horizontal resistance of mid-May to close up 9.83 or 7.87%.
EQIX gained 8.67 or 4.54%...CIEN had a horizontal breakout
closing up 2.01 or 10.19%. LNKD gained 8.18 or 4.34% and
is near a horizontal breakout of early May.
The unofficial start of
earnings season was Monday, July 8 with AA reporting earnings
after the close.
Earnings of Interest
Monday – AA, ISRG
Wednesday – FAST, YUM
Friday – JPM, WFC
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 is
below the Upper Zone and is pointed up.
____________________
Setups
H Breakout: DTV, GILD, GRMN, MNST, MSFT, MYL, NFLX, NTAP,
NUAN, YHOO, BAC, DDD, ESI, FAS, LNKD, NFLX, Z,
Diagonal Breakout: AKAM,
SINA,
Bull Flag: CMG, P, TBT, ZION,
Potential Bullish Divergence:
Gap Up:
Gap Down:
Bear Flag:
At Support:
Moves
New Highs: AMAT, AMZN, BBBY, CSCO, PCLN, SBUX, STX, F, TSLA,
Gap Up: ADBE, BRCM, CELG, CMCSA, COST, CTSH, EBAY, ESRX,
FFIV, INTC, ORCL, QCOM, SNDK, SYMC, TXN, WFM, WYNN, XLNX, ATI, CRM, GLD, LVS, RCL,
SWI, TIF,
Gap Down:
H&D Breakout: ADSK, COST, GOOG, MAT, JCP,
Breakout Test:
Bounce:
MACD Divergence Bounce:
Bear Flag:
Support Break:
______________________
95 of 100 Leading NDX stocks closed higher on Thursday.
Leading NDX 100 stocks included:
GOLD, CELG, FFIV, REGN, EQIX, BIDU, VRTX, PCAR, LLTC, CMCSA, DTV, MDLZ,
WYNN, ADSK, INTO, CERN, CHKP, MXIM, CTRX
Lagging NDX stocks included:
NWSA
Leading stocks > +2% on Thursday included: CIEN, LDK, VMW, CDE, URE, TSL, CLF,
FCX, CRM, LNKD, ANR, ATI, SWI, RVBD, ESI, JDSU, AKS, FAS, RCL, TSLA, SMH, LVS,
JNPR, CHL, TPX, MOX
Lagging stocks < -2.0% included: MCP, FAZ, ZAGG, TBT
Stocks to Watch on Thursday
Holding Above 30 DMA= 82
SPLS, AVGO, CSCO, AMZN, DLTR,
ADBE, INTU, SBUX, BBBY, EXPE, MCHP, PCLN, SNDK, SRCL, VRTX, ALTR, CA, LINTA,
MAT, MNST, ORLY, PCAR, PCLN, ROST, STX, VOD, VIAB, FB, LBTYA, KRFT, LMCA,
CMCSA, GOOG, HSIC, DISCA, VRSK, ADP, ALXN, CHKP, CTSH, DTV, EBAY, FOSL, NTAP,
SYMC, WFM, WDC, NFLX, BMC, CELG, ESRX, FISV, LLTC, XLNX, ADI, ATVI, BIIB, CHRW,
COST, CTXS, EXPD, GILD, LIFE, MYL, NUAN, PAYX, XRAY, TXN, DELL, SIAL, SIRI,
AKAM, AMAT, GRMN, KLAC, YHOO, AMGN, MSFT, NVDA, EQIX, REGN, SBAC
Moving Above 30 DMA = 7
ADSK, BRCM, CERN, FFIV, MXIM, SHLD, MDLZ
Moving Below 30 DMA = 0
Staying Below 30 DMA
ISRG, MU, INTC, CTRX, BIDU, ORCL,
WYNN, GOLD, AAPL, FAST, QCOM, NWSA
Four-Week Intermediate Term Market Trend: Up
Short Term Market Trend: Up
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