Seven of nine sectors moved higher on
Friday… XLF, XLV and XLE were
the strongest sectors…XLI was the
weakest sector.
Breadth weakened…advancers
led decliners…1.01 to
1 on the NYSE and 1.22 to 1 on the NASDAQ…
Friday
– weakened, advancers led
Thursday – strengthened,
advancers led
Wednesday – weakened
slightly, advancers led
Tuesday – strengthened,
advancers led
Monday – strengthened,
advancers led
SPY
up .07…volume 104.2 million shares
VIX
down .17 at 13.84…
TNX
up .27 at 26.01…
TLT
down .09 at 107.72...
XLF
up .14 at 20.35…volume 43 million shares
AAPL
down .78 at 426.51…volume 9.9 million shares
FB
up .10 at 25.91…volume 16.5 million shares
Technical Commentary:
QQQ + 0.44, IWM + 0.20%, SPY + 0.04%, DIA – 0.14%.
SPY closed up
on Friday .07 gaining for the 6th
consecutive day.
ALXN gained on
Friday to temporarily break its horizontal resistance from early October 2012.
ALXN gained 12.82 or 12.64%. REGN
gapped up on Friday to break through its early June horizontal resistance
gaining 18.13 or 7.31%.
NFLX made a new
high and closing above it horizontal resistance of mid-May gaining 13.09 or 5.36%. FFIV
had a second day gap to close up 3.70 or 4.86%. YELP also finished strong making
another new high on Friday gaining 1.95 or
5.21%.
Numerous stocks made new highs on
Friday including AMZN, BBBY, CMCSA, COST,CSCO, PCLN, XBUX, and TSLA.
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
in the Upper Zone.
____________________
Setups
H Breakout: DTV, EBAY, ESRX, GILD, GRMN, MSFT, MYL, NTAP,
NVDA, YHOO, ATI, BAC, FAS, LNDK, TPX,
Diagonal Breakout: AKAM, SNDK, LVS, TLT, UAL, UNG,
Bull Flag: GRPN, MFRM,
SOHU, STI, TBT, XONE, ZION,
Potential Bullish Divergence:
Gap Up:
Gap Down:
Bear Flag:
At Support:
Moves
New Highs: AMZN, BBBY, CMCSA, COST, CSCO, PCLN, SBUX, STX,
TNX, WFM, F, SPLK, TSLA, YELP, Z,
Gap Up: ADBE, XLNX, FIVE,
Gap Down: FFIV,
H&D Breakout: GOOG, NFLX, QCOM, NFLX,
Breakout Test:
Bounce:
MACD Divergence Bounce:
Bear Flag:
Support Break:
______________________
71 of 100 Leading NDX stocks closed higher on Friday…and three were unchanged.
Leading NDX 100 stocks included:
ALXN, REGN, NFLX, FFIV, VRTX, XLNX, GILD, AMZN, SIRI, ADP, EBAY, MYL,
EQIX, ADSK, VIAB, ALTR, BIIB
Lagging NDX stocks included:
SHLD, GOLD, ATVI, ORCL, CHRW, FOSL, NWSA, MNST, MXIM, EXPD, WYNN, XRAY
Leading stocks > +2% on Friday included: NFLX, YELP TSLA, UCO, DECK, MCP, CRM,
ZION, BAC
Lagging stocks < -2.0% included: CLF,
X, ANR, GMCR, CDE, AKS, ATI, LDK
Stocks to Watch on Thursday
Holding Above 30 DMA= 89
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, SIAL, SIRI, AKAM,
AMAT, GRMN, KLAC, YHOO, AMGN, MSFT, NVDA, EQIX, REGN, SBAC, AAPL, ADSK, BIDU,
BRCM, CERN, FFIV, MXIM, MDLZ
Moving Above 30 DMA = 1
QCOM
Moving Below 30 DMA = 2
DELL, SHLD
Staying Below 30 DMA
MU, ISRG, INTC, CTRX, ORCL, WYNN,
GOLD, FST, NWSA
Four-Week Intermediate Term Market Trend: Up
Short Term Market Trend: Up
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