Six of nine sectors moved higher on Thursday…XLU, XLY and XLV were the
strongest sectors…XLB was the weakest sector.
Breadth weakened as advancers led
decliners 1.33 to 1 on the NYSE and 1.08 to 1 on the NASDAQ where decliners led advancers.
Thursday – weakened, mixed
Wednesday – strengthened, advancers led
Tuesday – strengthened, advancers led
Monday – strengthened,
mixed
Friday - weakened,
decliners led
SPY up 01 at 188.32 on 90.2 million shares
VIX down .16 at 13.25…
TNX down .42 at 26.06…
TLT up 1.19 at 112.02...
XLF up .04 at 22.00 on 27.1 million shares
AAPL up 1.39 at 591.48 on 8.6 million shares
FB up 1.37 at 61.15…on 82.2 million shares
Technical Commentary:
QQQ + 0.30%, SPY + 0.01%, IWM – 0.04%, DIA – 0.13%.
Both SPY and DIA closed
just below all-time highs again. QQQ
leads as FB, AMZN, DTV, BIDU, GOOG, AAPL, and PCLN bounce.
FB is a reversal breakout
setup following its divergence bounce this week. AMZN, GOOG and PCLN are bear
flag setups. DTV is a bullish
gap. BIDU is a potential bullish
divergence setup. AAPL is a bull flag pattern.
SPWR +0.44, +1.32%, Wednesday’s bull flag setup, gave an entry signal
today.
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 = 187.17, 189.70…
QQQ = 86.90, 87.88…
IWM = 113.84, 115.25…
Support Levels
SPY = 183.37, 181.38
QQQ = 85.09, 84.16,
83.15, 82.03
IWM = 110.12, 108.91,
106.99
Earnings This Week:
Monday: BWLD, GLW, SOHU
Tuesday: DDD, ADM, BMY, CHRW, CHKP, COH, CNX, EBAY, ESRX, FISV, MAR, MRK, MGM, NOK, PCAR, PNRA, STX, SWI, SAVE, S, GT, TWTR, X, VLO, VRSK
Wednesday: GRMN, JDSU, MET, TSO, TWX, WDC, YELP
Thursday: AKAM, ANR, CTRX, CLX, DVA, EXPE, XOM, ESI, K, KRFT, LNKD,
MDC, MA, TMUS, TPX, VRTX, VIAB, WYNN
Friday: LNG
Q1 Earnings Reactions
Positive Reactions – YELP,
MA, TMUS, CTRX, TSO, ANR, GRMN, ENR, LVLT, PBI, TWX, CHRW, CNX, DNB, FISV, MAR,
VRSK, WLP, MGM, MRK, NOK, S, UTHR, BWLD, AAPL, AET, ALXN, ANGI, BA, BHI, BIDU,
BTU, BX, C,COG, CTXS, DAL, DAVE, DECK,
DHI, DO, DV, ETFC, FCX, GE, GILD, GME, HOG, HAL, HAS, HOG, IBKR, INTC, JNJ, KO, LPNT, LRCX, MS, NXPI, POT, RF,
SCHW, SNDK, SPWR, STI, SWK, SWKS, TKR, TRV, UNP, URI, WFC, XRX, YHOO
Negative Reactions – VIAB,
CLX, JDSU, WDC, EBAY, ESRX, SEE, PNRA, STX, SWI, TWTR, ADM, BMY, CHKP, COH,
DDD, GT, PCAR, SAVE, SOHU, ACI, AKS, ALTR, AMGN, AMZN, ATI, BAC, BBRY, BIIB, BRCM, CELG, CLF, CREE, F, FAST,
FFIV, GOOG, IBM, JCI, JPM, KLAC, KMB, LLTC, LLY, LVS, LXK, MMM, MU, MXIM, NSC,
NUE, P, PG, QCOM, SIRI, STLD, STT, T, UA, UNH, UPS, V, VMW, VZ, XLNX, YNDX, ZION,
ZNGA,
Reversal in progress – BRCM,
LLTC, NUE, STLD, ZION
Reversal of Initial
Reaction – AKS, ATI, BAC, CELG, F, IBM, KMB, LVS, MMM, MU, PG, SIRI, T, UPS,
YNDX, ANGI, BIDU, NFLX, RF, INTC
The SPY Market Forecast green line is pointed up at 74.
____________________
Setups
H Breakout: ATI, KKD,
MS, MTW, RCL, SPWR, SPY, SWKS, TPX, XONE, ADSK, AKAM, CMCSA, MU,
Diagonal Breakout: C,
CTRP, ETFC, FAS, GLW, IBM, IWM, JNPR, NKE, SCHW, BBRY, DDD, LVS, SSYS, UBNT, V,
ADBE, CTSH, INTC, MNST, NTAP, PCLN, TSLA, WFM, WYNN,
Bull Flag:
One Day:
Potential Bullish
Divergence:
Gap Up: WYNN
Gap Down: LNKD,
Bear Flag:
At Support: GLD, GME,
ZION, BX, CIEN, GOGO,
C- Pattern:
Moves
New Highs:
Gap Up: TMUS, YELP, DTV,
FB, CTRX,
Gap Down: JDSU,
H Breakout: TLT, ANR,
CELG,
Diagonal Breakout: AAL,
TRIP, YHOO,
Breakout Test:
Bull Flag Bounce:
Bounce: PANW, SCSS, CSIQ,
NTES, QIHU, SFUN, VRSN, CTSH, SBUX,
MACD Divergence Bounce:
SCTY, SWI,
Bear Flag:
Support Break: TBT,
WDC,
______________________
55 of 100 NDX stocks
closed higher on Thursday and one was unchanged.
Leading NDX 100 stocks included: CTRX, DISH, NFLX, EXPE, DTV, TRIP, BIDU, ILMN,
AKAM, LBTYA, FB
Lagging NDX stocks included: WDC, STX, MYL
Leading stocks > +2% on Thursday
included: AAL, KKD,
PANW, YELP, SFUN, P, ANR, LNKD, DDD, QIHU, BBRY, UBNT
Lagging stocks < -2.0% included:
JDSU, WLT, ESI, CIEN
Stocks to Watch on Thursday
Holding Above 30 DMA= 37
MAR, KRFT,
INTC, CSCO, CHRW, SPLS, COST, EXPD, SIAL,MDLZ,MU, SNDK, CMCSA, ORLY, GILD,
CHTR, MYL, AAPL, CTXS, SRCL, VOD, DTV, ADP, ALXN, CELG, FISV, SYMC, YHOO, EQIX,
NXPI, ATVI, AVGO, GRMN, MAT, SIRI, VRSK, LMCA
Moving Above 30 DMA = 12
ADSK, BIDU, EXPE, LINTA, NVDA, VRTX, FB, CTRX, LBTYA, SBAC, FOXA,
DISH
Moving Below 30 DMA = 7
BRCM, DLTR, FAST, MSFT, MXIM, PAYX, VIAB
Staying Below 30 DMA
CHKP,
PCAR, TXN, ADI, WDC, ILMN, FFIV, QCOM, VIP, STX, REGN, TSLA, ISRG, AMAT, KLAC,
LLTC, NTAP,XLNX,BBBY, ROST, ALTR, AMGN, CTSH, HSIC, DISCA, SBUX, TSCO, INTU,
AKAM, EBAY, ESRX, WFM TRIP, ADBE, AMZN, BIIB, GMCR, CERN, PCLN, WYNN, MNST,
NFLX, CA, GOOG
Sixteen Week
Intermediate Term Market Trend: Up
3-Day Short Term Market
Trend: Up
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