Stocks Surge Following Jobs Report...FB, MU New High Close...ATVI, EXPE Gap Higher...

All nine sectors moved higher on Friday…XLI, XLV and XLB were the strongest sectors…while XLU was the weakest sector.  

Breadth strengthened as advancers led decliners 3.51 to 1 on the NYSE and 2.37 to 1 on the NASDAQ.

Friday – strengthened, advancers led

Thursday – strengthened, advancers led

Wednesday – weakened, decliners led

Tuesday – strengthened, advancers led

Monday – weakened, decliners led

SPY up 2.20 at 179.68 volume 170.7 million shares, above average volume

VIX down 1.94 at 15.29…

TNX down .27 at 26.75…

TLT up .09 at 106.79...

XLF up .26 at 21.29 volume 51.2 million shares

AAPL up 7.17 at 519.68 volume 13.4 million shares

FB up 2.16 at 64.32…volume 60.8 million shares…average volume

Technical Commentary: 

QQQ + 1.78%, SPY + 1.24%, DIA + 1.05%, IWM +1.13%

The Jobs Report came in below expectations and provided extra volatility as expected but in the end did not alter the trend.  Stocks closed higher with many of the indexes regaining losses on Monday.  SPY, QQQ and DIA finished with white weekly candles after forming black weekly candles over the past two weeks.  The short-term trend reversal acts like the beginning of a move ultimately to new highs.

YTD Performance

NDX   -0.84%

SPX    -2.78%

RUT   -4.05%

XLU    +2.40%

XLV    +1.64%

XLK    -1.79%

XLF    -2.61%

XLB    -3.29%

XLI      -3.43%

XLY    -4.10%

XLP    -4.77%

XLE    -5.05%

FB         +17.69%

NFLX   +16.79%

MU         +12.69%

GILD       +4.86%

GOOG    +5.06%

PCLN     +2.84%

BIDU      -9.41%

AMZN     -9.46%

Trade with the trend of the chart you are trading and move your protective stops.  Be mindful of reversal patterns like double bottoms and MACD divergences.  Continue to follow your rules.

Short-term up trend Chart Targets:

SPY = 179.81, 180.65, 182.54…

QQQ = 86.80, 87.87, 88.99…

IWM = 111.02, 113.65…

Support Levels

SPY = 177.52, 176.79

QQQ = 85.98, 85.55, 85.12

IWM = 109.05, 107.27

Q4 earnings season…

The majority of earnings season is done, however there are still several companies including AMAT, CSCO, DISCA, DISH, GRMN, KRFT, NTAP, NVDA, PCLN, REGN, TRIP, TSLA and WFM that will report over the next many days…

Monday morning: SFUN

Q4 Earnings Reactions

Positive Reactions – CBOE, MCO, ATVI, AKAM, EXPE, GMCR, NXPI, ONNN, ORLY, SCSS, SWI, TWX, DIS, YELP, AGNC, KORS, KEYW, IDXX, XYL, YUM, NOV, SPG, TSN, ZNGA, ALXN, BRCM, BX, CMG, GOOG, JDSU, MTW, PHM, RYL, VIAB, V, BA, DOW, FB, LVS, QCOM, VLO, AKS, AAL, CHKP, EA, F, ILMN, LXK, CAT, RCL, JNPR, MSFT, KMB, PG, MXIM, SBUX, NFLX, FFIV, URI, UNP, EBAY, MCD, CREE, TXN, UTX, NUAN, XLNX, BHI, DAL, RF, MS, SLB, STI, AXP, SWKS, BAC, LLTC, WEN, MON, MU, STZ, APOL

Negative Reactions – CI, LNKD, VRSN, ADP, CTSH, HUM, MDC, P, TSO, TWTR, ADM, BWLD, CERN, CHRW, GILD, CVX, MA, MAT, PCAR, AMZN, MMM, CELG, CL, XOM, ESI, HOG, OSTK, POT, SHW, WHR, BA, CTXS, EMC, TSCO, CRUS, GLW, DD, F, VMW, YHOO, AAPL, STX, ZION, HON, KSU, SWK, STT, ALTR, ISRG, KLAC, KEY, JCI, LMT, WDC, ABT, BAX, ATI, COH, FCX, AMD, IBM, HAL, JNJ, TRV, VZ, GE, COF, INTC, UNH, C, GS, CSX, FAST, AA, FDO, BBBY, SCHN

Reversal of Initial Reaction – CTSH, P, ADM, CERN, GILD, GLW, HON, FAST, FDO, AA

The Market Forecast Green Line turned up above 25 on Friday.

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Setups

H Breakout: A, CRM, FAS, GLD, GRPN, MCP, RCL, STI, SWKS, ADSK, CMCSA, GOOG, QCOM,

Diagonal Breakout: BBRY, CSIQ, MTW, SCTY, TSL, UAL, V,

Bull Flag: ANGI, BX, SWI, TLT, UNG, GILD,

Potential Bullish Divergence: 

Gap Up: 

Gap Down: 

Bear Flag: ATI, C, CREE, DDD, ESI, GME, GOGO, IWM, KKD, SINA, SSYS, TBT, TXN, XLNX, YHOO

At Support: 

C- Pattern: MNST,

Moves

New Highs: ADBE, FB, MU, NFLX, TSLA, WYNN,

Gap Up: ATVI, EXPE, PCLN, TRIP, NWSA, ONNN

Gap Down: LNKD, VRSN

H Breakout: RAX, Z, SNDK, TSLA, WYNN,

Diagonal Breakout: BAC, GRPN, SPLK,

Breakout Test: 

Bounce: TWTR, GLW, JNPR, JDSU, P, QIHU,

MACD Divergence Bounce: FSLR, IBM, LVS, MFRM, MS, NKE, NTES, SCSS, X, XONE, YOKU, ROST, WDC,

Bear Flag:  

Support Break: 

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91 out of 100 NDX stocks closed higher on Friday.

Leading NDX 100 stocks included: ATVI, EXPE, TRIP, GMCR, NFLX, PCLN, NXPI, BIIB, CELG, TSLA

Lagging NDX stocks included: SPLS, AKAM, DISH, FAST, PAYX, VOD, COST, CTRX, CHRW, ROST

Leading stocks > +2% on Friday included: TWTR, DRYS, MCP, P, QIHU, CSIQ, GOGO, GRPN, RAX, ANGI, TSL, SCTY, ESI, FAS, FSLR, SPWR, SFUN, NAR, SPLK, XONE, SINA, DDD, KKD, C, SWI, YOKU

Lagging stocks < -2.0% included: LNKD, TPX, VRSN, UNG

Stocks to Watch on Monday

Holding Above 30 DMA= 34

ILMN, ESRX, CMCSA, EQIX, FFIV, SBAC, ISRG, MU, BIIB, MXIM, TSLA, NXPI, NFLX, CHTR, ALTR, ALXN, REGN, GOOG, WYNN , FB, GMCR, ADBE, ORLY, DISH, EBAY, ADSK, AKAM, AVGO, BRCM, CSCO, DTV, PCAR, VRTX, WFM

Moving Above 30 DMA = 17

AMGN, ATVI, CERN, CHKP, EXPE, GILD, MAR, MNST, MSFT, MYL, NTAP, NVDA, PCLN, QCOM, SIAL, SNDK, TRIP

Moving Below 30 DMA = 0

Staying Below 30 DMA

SRCL, CHRW, HSIC, XLNX, WDC, AMZN, CTRX, VRSK, SYMC, SIRI, STX, AAPL, AMAT, CA, CELG, CTSH, EXPD, FAST, FISV, KLAC, LLTC, VOD, TXN, VIP, ADP, BIDU, CTXS, GRMN, ADI, KRFT, INTC, INTU, MDLZ, LBTYA, YHOO, VIAB, LINTA, TSCO, PAYX, ROST, DLTR, BBBY, SPLS, FOXA, MAT, DISCA, COST, SBUX, LMCA

Sixteen Week Intermediate Term Market Trend: Up

3-Day Short Term Market Trend: Up