Friday, August 16, 2013

NDX Near Unchanged on AAPL, FB Strength on Expiration Friday...Potential Morning Star Pattern...

NDX Near Unchanged on AAPL, FB Strength on Expiration Friday...Potential Morning Star Pattern...
 
Only one of nine sectors moved higher higher on Friday…XLI, XLK and XLF were the strongest sectors…XLU was the weakest sector.
 
Breadth strengthened…decliners led advancers…1.88 to 1 on the NYSE and 1.18 to 1 on the NASDAQ…
 
Friday – strengthened, decliners led
Thursday – weakened, decliners led
Wednesday – weakened, decliners led
Tuesday – strengthened – advancers led
Monday – strengthened – advancers led
 
 
SPY down .55…volume 130.8 million shares
VIX down .36…at 14.37…
TNX up .74 at 28.29…
TLT down .36 at 103.37...
XLF down .04 at 20.02…volume 32.6 million shares
 
AAPL up 4.42 at 502.33volume 12.9 million shares
FB up .52 at 37.08volume 45.8 million shares
 
Technical Commentary:
 
QQQ – 0.03%, DIA – 0.16%, SPY – 0.33%, IWM – 0.42%.  
 
The SPY, QQQ, DIA and IWM each formed a spinning top on August expiration Friday after Thursday’s large red candle.  Friday’s spinning top could be day two of a morning star pattern.  Watch for a potential bounce and formation of a morning star pattern on Monday
 
QQQ was near unchanged on the strength of AAPL and FB while CSCO and CMCSA weighed to the downside.
 
SPY support is 165.15 with Friday’s close at 165.83.  The next support is 165.35 and then 161.55 if the 165 area is broken.
 
The weekly SPY chart is a two candle bull flag pattern.  The longer (three month +) intermediate and long term trends are still up. 
 
 
Q2 Earnings Reactions
Positive Reactions – JRCC, RAX, SSYS, TMUS, SGMS, FWLT, MNST, GRPN, TSLA, AGU, BOFI, FOSL, ADM, MGM, DSW, WPO, CNK, KORS, SATS, MGM, EAT, VIAB, YOKU, AIG, CTRX, CHK, COP, LNKD, MELI, MYL, NUS, ZAGG, CMCSA, CTRP, GRMN, HES, MA, MCHP, SODA, YELP, QCOR, FISV, BWLD, MTW, VRTX, WYNN, 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 – CREE, MCP, GMCR, SCTY, SUNE, Z, CAR, CHRW, FSLR, LINTA, ANR, CVX, CME, XOM, K, DTV, RVBD, X, COH, DISCA, ESRX, SOHU, 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 is out of the upper zone and pointed down. 
 
____________________
 
Setups
H Breakout:   
 
Diagonal Breakout: AMAT, GMCR, SCTY,
 
Bull Flag: AMGN, AMZN, ATVI, BBBY, BIDU, CELG, CMCSA, COST, CTSH, FFIV, GILD, MU, MYL, NUAN, SBUX, SIRI, SYMC, WDC, ATI, BBRY, CLF, CMG, CNX, CRM, DDD, ESI, GRPN, KKD, LNKD, RAX, RCL, SINA, TIF,
 
Potential Bullish Divergence:  
 
Gap Up: 
 
Gap Down: 
 
Bear Flag:   
 
At Support: AKAM, DTV, FAST, SCSS, SOHU, TPX,
 
 
Moves
New Highs: TBT,  
 
Gap Up:   
 
Gap Down:  
 
H&D Breakout: FB, PCLN, TSLA,
 
Breakout Test: 
 
Bounce: NTAP, XLNX, SSYS, UAL, Z
 
MACD Divergence Bounce:  
 
Bear Flag:  
 
Support Break: MAT,
 
______________________
 
 
40 of 100 NDX stocks closed higher on Friday.
 
Leading NDX 100 stocks included: NFLX, AMAT, TSLA, FB, GOLD, XLNX, EQIX, ESRX, ADI AAPL, ALTR, CTSH
 
Lagging NDX stocks included:  WDC, FFIV, DLTR, WFM, CA, ISRG, LINTA, KRFT, CTXS, GRMN, SHLD, NUAN, REGN, FOSL
 
Leading stocks > +2% on Friday included: YELP, LDK, GMCR, SSYS, UAL, TSL, SWI,  CREE
 
Lagging stocks < -2.0% included: URE, BBRY, ANR, CLF, MOX, ZAGG, CDE
 
Stocks to Watch on Monday
Holding Above 30 DMA= 36
TSLA, SPLS, GRMN, PCLN, CA, ORLY, VOD, VIAB, FB, CHKP, NTAP, SYMC, NFLX, BMC, FISV, ATVI, CTXS, MYL, PAYX, TXN, SIAL, AKAM, BIDU, FFIV, CTRX, QCOM, AAPL, SBUX, WYNN, FOXA, DELL, MU, FOSL, ADSK, GOLD, NVDA
 
Moving Above 30 DMA = 1
INTU
 
Moving Below 30 DMA = 4
HSIC, NUAN, PAYX, MDLZ
               
Staying Below 30 DMA
ADP, ALTR, ALXN, AMGN, CELG, CSCO, CTSH, EBAY, EXPD, KLAC, LIFE, LLTC, MCHP, MXIM, SIRI, SRCL, XLNX, XRAY, YHOO, ADI, WDC, LMCA, AVGO, BBBY, CMCSA, DLTR, ESRX, GILD, PCAR, ROST, WFM, DISCA, VRSK, MNST, FAST, ADBE, COST, LBTYA, AMAT, AMZN, BIIB, CERN, CHRW, KRFT, GOOG, LINTA, SHLD, REGN DTV, SBAC, EXPE, VRTX,SNDK, EQIX, STX, MSFT, BRCM, MAT, ISRG, INTC
 
Six-Week Intermediate Term Market Trend: Neutral
10-Day Short Term Market Trend: Down

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