Three of nine
sectors
moved higher on Friday…XLU, XLE and XLP were the strongest sectors…XLB
was unchanged while XLF was the
weakest sector.
Breadth strengthened as advancers
led decliners 1.36 to
1 on the NYSE and 1.17 to
1 on the NASDAQ.
Friday – strengthened,
advancers led
Thursday – weakened, decliners led
Wednesday –
strengthened, advancers led
Tuesday – weakened,
decliners led
Monday – weakened,
decliners led
SPY down .52 at 184.66 on 153.9 million shares, above average volume
VIX up 1.60 at 17.82…
TNX down .08 at 26.45…
TLT up 0.02 at 108.52...
XLF down .14 at 21.80 on 44.2 million shares, average volume
AAPL down 5.96 at 524.69 on 8.5 million shares
FB down 1.11 at 67.72…on 48.1
million shares
Mar 14 – Weekly - YTD Performance
RUT -1.82% +1.53%
NDX -2.04% +1.00%
SPX -1.97% -0.39%
XLU +2.25% +7.69%
XLV -1.70% +5.41%
XLB
-1.86% +1.47%
XLF -2.55% -0.27%
XLK
-2.17% -0.31%
XLP
-0.19% -0.93%
XLY
-2.29% -1.47%
XLI
-3.11% -1.74%
XLE
-1.86% -2.41%
FB -2.98% +23.92%
NFLX -5.33% +15.30%
MU -1.88% +10.16%
PCLN -6.64% +9.08%
GOOG
-3.46% +4.65%
GILD -5.69% -0.07%
AMZN +0.45% -6.28%
BIDU -11.78% -9.72%
Technical
Commentary:
IWM +0.42%,
DIA -0.25%, SPY -0.28%,
QQQ -0.68%.
IWM led the broad indexes while both SPY
and DIA formed a bullish inverted hammer at support. XLB, XLE, XLF, XLI and XLY also formed
an inverted hammer while XLU rose to horizontal resistance in a breakout
setup.
The VIX
rose likely in response to concerns over the Crimea situation in Ukraine. GLD and TLT also made recent
short-term highs.
GMCR +6.68% bounced on news of an amended deal
with SBUX and that it would join the S&P 500.
A large
number of bull flag patterns have been formed in stocks (see list below) as the
broad market had its first weekly pull back in six weeks.
Trade with the trend of the chart
you are trading and continue
to move your protective stops. Continue to follow your rules.
Short-term
up trend Chart Targets:
SPY = 187.15, 189.25,
190.55…
QQQ = 90.96, 92.25, 93.05…
IWM = 118.71, 120.64,
121.84…
Support Levels
SPY = 183.75, 182.60
QQQ = 88.87, 87.35,
86.49
IWM = 115.58
Q4 Earnings Reactions
Positive Reactions – KKD,
MFRM, KKD, BIG, FL, JOY, DRYS, TSL, DDD, MNST, ROST, YOKU, CRM,
SHLD, ANF, TGT, DLTR, LOW, HD, M, SCTY, ZU, PCLN, DISH, INTU, AEE, MDRX,
ALEX, DTV, TSLA, GRMN, SWY, KRFT, AMAT, CTRP, NVDA, SPWR, TRIP, REGN,
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, UA, 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 – GOGO,
CIEN, COST, CSIQ, HOV, MCP, SSYS, ADSK, CRM, FSLR, SINA, ESRX,
GRPN, YNDX, KO, A, GNC, WTW, VFC, WFM, ANGI, CSCO, DISCA, NTAP, RAX, CI,
LNKD, TPX, VRSN, ADP, CTSH, HUM, MDC, P, TSO, TWTR, ADM, BWLD, CERN, CHRW, DDD,
SFLY, 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 (104)
Reversal in progress
–ADSK, ATI, A, CRUS CSX, CVX, GS, COF, JNJ, IBM, JCI, KEY, KO, LNKD, MA, RAX,
STX, WFM (18, 18%)
Reversal of Initial
Reaction – SINA, AA, AAPL, ABT, ADP, ADM, ALTR, BWLD, DISCA, CERN, CL, CSCO, CTSH, CTXS, DDD,
HAL, EMC, ESRX, FAST, FDO, FSLR, HOG, BAX, VRSN, HUM, P, GILD, PCAR, MDC, MMM,
CELG, HOG, POT, SHW, GLW, DD, HON, SWK, ISRG, KLAC, LMT, SFLY, TPX, TSCO, TSO, WHR,
UNH, VZ, WDC, VFC, VMW, YHOO, XOM, ZION (54, 51%)
The Market Forecast Green Line closed at 83.
____________________
Setups
H Breakout: GME, PANW, AMZN,
Diagonal Breakout: P, EBAY, FFIV, ROST, TSLA,
Bull Flag: AAL, BAC, BX, FAS, GOGO, HOG, IWM, LVS,
MS, QIHU, SFUN, SPY, STI, AKAM, DTV, ESRX, FB, SBUX, TRIP, WFM, WYNN, XLNX, BIG,
TRN, SWKS, ALK, LNG, CAR, FL, MBI, ANF, VMW, DAL, AGO, PWR
One Day:
Potential Bullish
Divergence: JNPR, RCL, CMCSA, MU, STX,
Gap Up:
Gap Down:
Bear Flag:
At Support: BBRY, CTRP,
DDD, FSLR, GLW, SINA, SOHU, SPLK, SSYS, YOKU, ADSK, GRMN, MNST, PCLN, QCOM, SBUX,
TXN, YHOO
C- Pattern:
Moves
New Highs: GLD, JDSU, MFRM,
Gap Up:
Gap Down:
H Breakout:
Diagonal Breakout:
Breakout Test:
Bull Flag Bounce: GMCR,
Bounce: ATI, GME, SCSS, Z, WDC,
MACD Divergence Bounce:
Bear Flag: COST,
Support Break: AAPL, BIDU, CELG, GILD, GOOG, NFLX,
______________________
45 of 100 NDX stocks
closed higher and two were
unchanged on Friday.
Leading NDX 100 stocks included: LMCA, GMCR, ILMN,
VIP, SIRI, DISH, CHKP, MYL, CHTR, YHOO
Lagging NDX stocks included: CELG, GILD, BIDU,
TSLA, PCLN, EXPD, CHRW, FB, NTAP, ISRG
Leading stocks > +2% on Friday
included: Z, MFRM, GME, YNDX, MCP, ATI, BBRY, JDSU, SCSS, P, JNPR
Lagging stocks < -2.0% included: DRYS, TWTR, XONE, ESI, BAC
Stocks to Watch on Monday
Holding Above 30 DMA= 53
BIIB,
MXIM, NXPI, TSLA, ALTR, ALXN, REGN, FB, WYNN, ADBE, DISH, EBAY, AKAM, AVGO,
DTV, PCAR, AMGN, ATVI, EXPE, MSFT, MYL, NVDA, PCLN, SNDK, TRIP, ADI, MAR, XLNX,
AMAT, KLAC, TXN, CTSH, GRMN, HSIC, KRFT, LINTA, LLTC, VIAB, MDLZ, FISV, LBTYA,
DISCA, CTXS, FAST, INTU, WFM, BBBY, DLTR, ROST, SIAL, ADP, TSCO, SBAC, AAPL,
ESRX, PAYX, QCOM, AMZN, INTC, MAT, SBUX, COST
Moving Above 30 DMA = 3
CHKP, GMCR, LMCA
Moving Below 30 DMA = 9
AAPL, ADI, COST, CTSH,
INTC, PCLN, QCOM, SNDK, WYNN
Staying Below 30 DMA
BIDU, BRCM, CERN, EQIX, FFIV, FOXA, GOOG, ILMN, ISRG, MNST, MU, NFLX,
ORLY, SRCL, STX, CA, VRSK, YHOO, ADSK, VOD, WDC, CELG, GILD, SPLS, VRTX, SIRI,
CTRX, CMCSA, CSCO, CHTR, NTAP, CHRW, SYMC, EXPD, VIP
Sixteen Week
Intermediate Term Market Trend: Up
3-Day Short Term Market
Trend: Down
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