All nine sectors moved higher on Thursday…XLE, XLI and XLB were the strongest sectors…XLP
was the weakest sector.
Breadth strengthened…
advancers led decliners…5.38 to 1 on the NYSE and 3.62 to 1 on
the NASDAQ…
Thursday
– strengthened – advancers led
Wednesday – weakened,
decliners led
Tuesday – strengthened –
advancers led
Monday – weakened,
decliners led
Friday – strengthened,
decliners led
SPY
up 1.50…volume 101.1 million shares
VIX
down -1.18…at 14.76…
TNX
up 0.46 at 29.01…
TLT
up 1.04 at 103.17...
XLF
up .23 at 20.04…volume 32.3 million shares
AAPL
up .60 at 502.96…volume
8.7 million shares…hammer
FB
up .23 at 38.55…volume 21.9 million shares…close above
10DMA
Technical Commentary:
IWM +1.41%,
QQQ +0.98%, SPY +0.91%, DIA +0.51%.
Broad markets opened higher following positive manufacturing
data out of China, Europe and the U.S. The
ES futures overnight fell to
1,631.50 just 2.5 points above its support area of 1,629 before
moving more than 25 points by the close.
During the day a technical glitch
brought a NASDAQ halt in trading for more than three hours. When trading reopened the indexes still
closed near their highs of the day.
The NDX closed
higher with broad support from 92 stocks and almost half the 30 point gain
coming from MSFT, AMZN, GILD, AMGN, GOOG, TSLA, BIDU and QCOM.
Coal stocks bounced on
Thursday with strong gains from WLT, ACI,
BTU, ANR, CLF and JRCC. ETF KOL gained +4.61%.
Short-term market posture continues defensive.
Support Levels
ES = 1,647, 1,629, 1,611
SPY = 165.15, 163.35, 161.55
Q2 Earnings Reactions
Positive Reactions – GME, 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 – SHLD, PWRD, 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: GMCR, NFLX, FB, TSLA, WYNN, GMCR,
Diagonal Breakout: Z, ZION, PWRD, ATVI, BBBY, CMCSA, ESRX,
INTC, SIRI, XLNX, CRM, DNKN, GS, JNPR, RAX, STI,
Bull Flag: NTES, MU, MYL, NTAP, NVDA, QCOM, TXN, BBRY, GLD,
LVS,
Potential Bullish Divergence: MAT, ANGI, FIVE
Gap Up:
Gap Down:
Bear Flag: FSLR, GOOG,
MNST, UNG
At Support: TLT, COST, EBAY, CREE, SCTY, SPLK, UAL, VECO
Moves
New Highs: TSLA,
Gap Up: GME
Gap Down: SWI, SHLD,
H&D Breakout: AKAM, GRMN, CNX, FAST, FFIV, SBUX, SYMC,
ALK, ATI, BAC, ESI, FAS,
Breakout Test:
Bounce: WLT, BIDU, PCLN, ANR, CLF, RCL, SINA, SSYS, MSFT,
VECO, TSL, WDC, YOKU, GRPN, YELP, ROST, SNDK, CELG, CTSH, GILD
MACD Divergence Bounce: YHOO, SOHU, FSLR, STX, SCSS, MFRM, TPX
Bear Flag:
Support Break:
______________________
92 of 100 NDX stocks closed higher on Thursday.
Leading NDX 100 stocks included: TSLA, YHOO, FFIV, VRTX, BIDU,
DLTR, MSFT, AKAM, REGN, CTXS
Lagging NDX stocks included:
SHLD, SPLS, VOD, ALTR, CSCO, NFLX, XLNX
Leading stocks > +2% on Thursday included: GME, WLT, ANR, CLF, CNX, AKS,
FCX, KKD, YOKU, VECO, SCSS, FAS, ESI,
ALK, MCP, CRUS, X, SLB, SINA, CDE, A, GRPN, HUM, NTES, ICE, MFRM
Lagging stocks < -2.0% included: ANF,
SWI, GES, FAZ
Stocks to Watch on Friday
Holding Above 30 DMA= 27
TSLA, GRMN, PCLN, VIAB, FB, NTAP,
SYMC, NFLX, BMC, FISV, CTXS, MYL, AKAM, BIDU, CTRX, QCOM, AAPL, WYNN, FOXA,
DELL, MU, FOSL, GOLD, NVDA, NUAN, ROST, CTSH
Moving Above 30 DMA = 13
ADP, ADSK, ATVI, CA, CHKP, DLTR, EXPD, FFIV, GILD, SBUX, TXN,
WDC, YHOO
Moving Below 30 DMA = 1
SHLD
Staying Below 30 DMA
ORLY, PAYX, SPLS, INTU, SIAL, VOD,
HSIC, MDLZ, ALTR, ALXN, AMGN, CELG, CSCO, EBAY, KLAC, LIFE, LLTC, MCHP, MXIM,
SIRI, SRCL, XLNX, XRAY, ADI, LMCA, AVGO, BBBY, CMCSA, ESRX, PCAR, WFM, DISCA,
VRSK, MNST, FAST, ADBE, COST, LBTYA, AMAT, AMZN, BIIB, CERN, CHRW, KRFT, GOOG,
LINTA, REGN DTV, SBAC, EXPE, VRTX, SNDK, EQIX, STX, MSFT, BRCM, MAT, ISRG, INTC
Six-Week Intermediate Term Market Trend: Neutral
5-Day Short Term Market Trend: Neutral
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