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 502.33…volume
12.9 million shares
FB
up .52 at
37.08…volume
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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