Two of nine sectors moved higher on Thursday…
XLI, XLK and XLY were the strongest sectors…XLU
was the weakest sector. XLB, XLE, XLI, XLK, XLY and XLV are above horizontal resistance at new highs this week. XLF and XLP at resistance poised to breakout.
Breadth weakened…advancers
led decliners…1.40 to
1 on the NYSE and 1.20 to
1 on the NASDAQ.
Thursday
– weakened, decliners led
Wednesday – strengthened, advancers
led
Tuesday – mixed,
advancers led
Monday – strengthened,
advancers led
Friday - strengthened,
advancers led
SPY down .29 at 172.76…volume 146.4 million shares
VIX down .43 at 13.16…
TNX up .40 at 27.48…
TLT down .62 at 104.37...
XLF down .08 at 20.62…volume 40.3 million shares
AAPL up 7.62 at 472.30…volume 14.4 million shares
FB up .75 at 45.98…volume 63.8 million shares
Technical Commentary:
DIA – 0.24%, SPY
– 0.17%, IWM – 0.10%, QQQ + 0.24%.
QQQ finished higher today on 26.4
million shares while IWM, SPY, and DIA were slightly down for the
day. NDX rose on strength in AAPL, MSFT, TSLA and FB. XLF was also down slightly on weakness in regional bank stocks like ZION, STI and RF
but remains near its horizontal resistance of late June.
TSLA gapped up today up 11.70 or 7.04% breaking
through its horizontal resistance of early September after forming a bull flag
on 15.5 million shares in volume and closing at an all-time high. GRPN gapped up on 47.1 million shares
of volume and gained 1.03 or 8.96%. Todays
close was also an all-time high.
XONE bounced today and rose 3.00 or 5.85%. Volume was 1.6 million. P
closed up today gaining 1.71 or 6.67% on volume of 37.7 million closing at a
new all-time high.
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, AMAT, AMZN, BIDU, CELG,
COST, DTV, FAST, FFIV, GOOG, INTC, NFLX, QCOM, STX, ALK, ANR, BAC, C, CLF, ESI,
FAS, FSLR, GS, LNKD, NTES, PWRD, QIHU, SCSS, SINA, SPLK, SWI, TIF, TLT, WLT, Z,
Diagonal Breakout: SYMC,
WDC, SSYS,
Bull Flag: BRCM, MYL, SHLD,
SNDK, DNKN, GME, VECO,
Potential Bullish
Divergence:
Gap Up:
Gap Down:
Bear Flag:
At Support:
Moves
New Highs: AKAM, FB, GILD,
NTAP, ROST, WYNN, YHOO, CRM, DDD, P, RAX, RCL, SOHU, YELP, YNDX, YOKU,
Gap Up: AAPL, TSLA, GRPN,
LVS,
Gap Down:
H&D Breakout: MAT, PCLN,
SIRI, TSLA, ANGI, DDD, SCTY,
Breakout Test:
Bounce: XONE,
MACD Divergence
Bounce:
Bear Flag:
Support Break: ZION
______________________
49 of 100 NDX stocks
closed higher on Thursday…and two were unchanged.
Leading NDX 100 stocks included: TSLA, SIRI, CTRX,
EQIX, YHOO, FOSL, CTXS, MAT, FB, AAPL, DISCA, DIBU, DLTR, WYNN
Lagging NDX stocks included: MNST, GOLD, KRFT, GMCR, SHLD, SPLS, VOD,
BBBY, ALXN, ESRX, ADBE, WFM, SBUX
Leading stocks > +2% on Thursday
included: GRPN, XONE, A PWRD, DDD, YELP
Lagging stocks < -2.0% included: MFRM, CLF, UCO, STI, ZION, GMCR, SCSS,
HUM, JCP, CRUS
Stocks to Watch on Friday
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,
LBTYA, MAT, MCHP, KRFT, ATVI, BBBY, SRCL, EQIX, CSCO, GOLD, NUAN, DISCA
Moving Above 30 DMA = 1
FOSL
Moving Below 30 DMA = 0
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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