None of the sectors moved higher on Friday…all
moved lower…however, XLV, XLF and XLY were the
strongest sectors…XLU was the
weakest sector.
Breadth weakened…advancers
led decliners…2.57 to
1 on the NYSE and 1.14 to
1 on the NASDAQ.
Friday – weakened, decliners led
Thursday – weakened, decliners led
Wednesday – strengthened, advancers
led
Tuesday – mixed,
advancers led
Monday – strengthened,
advancers led
Friday - strengthened,
advancers led
SPY down 1.20 at 170.72…volume 132.8 million shares
VIX down .04 at 13.12…
TNX down .16 at 27.32…
TLT up .55 at 104.92...
XLF down .11 at 20.43…volume 43.8 million shares
AAPL down 4.89 at 467.41…volume 24.9 million shares
FB up 1.51 at 45.98…volume 47.49 million shares
Technical
Commentary:
DIA – 1.10%, SPY
– 0.70%, IWM – 0.36%, QQQ – 0.35%.
DIA, IWM, SPY, and QQQ all pulled back as
did the XLF and all the other eight sectors. DIA, IWM, are in a bull flag pattern
and QQQ and SPY are in a beginning bull flag pattern having
closed lower. Volume was slightly higher
than average.
FB continues to rise closing at another all-time high
on Friday up 1.51 or 3.28%. TSLA also closed at another
all-time high up 5.47 or 3.07%. AMZN broke
through its horizontal resistance closing at an all-time high up 4.28 or 1.37%.
PCLN managed another high up 2.39 or .24%.
BBRY dropped breaking support to close
down 1.79 or 17.06% on high volume of
72.3 million shares..
Breakout Chart Targets:
QQQ = 78.70, 79.58
IWM = 110.91
SPY = 169.93, 171.56
Remember it is big money
that creates and sustains the trend. As Granville once
wrote, “technical analysis is the art of tracking the market, following
the footsteps of the ‘smart money’ crowd.
The ‘smart money crowd’ is no mysterious ‘THEY.’ It is simply a collection of people who are
reading the market correctly, seeing through the maze, unconfused by this hall
of mirrors.”
Short-term market posture
is up.
Support Levels
ES = 1,660
SPY = 167.30
Q2 Earnings Reactions
Positive Reactions –
ULTA, FIVE, CIEN, SPLK, CRM, GES, DSW, ADSK,
ROST, GME, JRCC, RAX, SSYS, TMUS, SGMS, FWLT, MNST, GRPN, TSLA,
AGU, BOFI, FOSL, ADM, MGM, 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 – P, 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 pointed up.
____________________
Setups
H Breakout: ADSK, ATVI,
CELG, COST, DTV, FFIV, GOOG, NFLX, QIHU, SCSS, TLT,
Diagonal Breakout:
Bull Flag: AMGN, MYL, SHLD,
SNDK, WFM, XLNX, CIEN, CMG, DNKN, ESI, FIVE, LNKD, STI, TBT,
Potential Bullish
Divergence:
Gap Up:
Gap Down:
Bear Flag:
At Support: MNST, GME, ZION,
Moves
New Highs: AMZN, FB, PCLN,
TSLA, WYNN, SPLK,
Gap Up:
Gap Down: GLD, SWI,
H&D Breakout:
Breakout Test:
Bounce:
MACD Divergence
Bounce:
Bear Flag:
Support Break: BBRY, Z,
______________________
35 of 100 NDX stocks
closed higher on Friday…and one was unchanged.
Leading NDX 100 stocks included: FB, TSLA, NFLX,
AVGO, LINTA, CHKP, AMZN, ISRG, EBAY, CELG, MYL
Lagging NDX stocks included: CTRX, GOLD, GRMN, NTAP, MSFT, SIAL, REGN,
MDLZ, FAST, XLNX
Leading stocks > +2% on Friday
included: A, V
Lagging stocks < -2.0% included: BBRY,
CDE, Z, ANR, SOHU, HLF, URE, SINA, CLF, ZONE, Z, SWI, DDD, ATI, FCX,
RCL, LNKD, JNPR
Stocks to Watch on Monday
Holding Above 30 DMA= 90
TSLA,
GRMN, PCLN, VIAB, FB, NFLX, QCOM, WYNN, DELL ,NVDA, GMCR, ADSK, AMGN, AVGO,
CTSH, GILD, VOD, SBAC, SHLD, AKAM, ALTR, BIIB, CELG, EXPD, MU, MXIM, NTAP,
ROST, YHOO, REGN, VRSK, FOXA, ADBE, ADP, ALXN, CHRW, DLTR, INTC, INTU, KLAC,
SNDK, XLNX, TXN, AMZN, BRCM, FAST, GOOG, LINTA, SIRI, WFM, XRAY, LMCA, EBAY,
EXPE, FISV, CHTR, BIDU, COST, FFIV, MYL, PAYX, PCAR, SBUX, STX, AMAT, CA, CERN,
CHKP, DTV, HSIC, LLTC, MSFT, ORLY, SIAL, ADI, CMCSA, CTXS, MDLZ, LBTYZ, MAT,
MCHP, KRFT, ATVI, BBBY, SRCL, EQIX, CSCO, NUAN, DISCA, FOSL
Moving Above 30 DMA = 0
Moving Below 30 DMA = 1
GOLD
Staying Below 30 DMA
ESRX, VRTX, WDC, AAPL, CTRX, SYMC, ISRG, SPLS, MNST
Thirteen Week Intermediate
Term Market Trend: Up
5-Day Short Term Market
Trend: Up
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