Friday, May 2, 2014

SPX Slightly Lower Following Jobs Report...Up for the Week as Positive & Negative Earning Reactions Continue...

Three of nine sectors moved higher on Friday…XLB, XLY and XLE were the strongest sectors…XLU was the weakest sector.     

Breadth was mixed as advancers led decliners 1.32 to 1 on the NYSE and 1.05 to 1 on the NASDAQ.

Friday – mixed, advancers led
Thursday – weakened, mixed
Wednesday – strengthened, advancers led
Tuesday – strengthened, advancers led
Monday – strengthened, mixed
Friday - weakened, decliners led


SPY down .26 at 188.06 on 98.1 million shares, up for the week,
VIX down .34 at 12.91… down for the week
TNX down .15 at 25.91…down for the week
TLT up .69 at 112.71...up for the week
XLF down .01 at 21.99 on 28.1 million shares, up for the week

AAPL up 1.10 at 592.58 on 6.8 million shares, up for the week
FB down .69 at 60.46…on 54.1 million shares, up for the week


Technical Commentary:
IWM + 0.08%, SPY – 0.14%, QQQ – 0.18%, DIA – 0.29%.

The SPX finished up +17.74, +0.95% for the week after continued mixed earning reactions, while finishing down on Friday -2.54, -0.13% following the April jobs report. 

Among NDX stocks AAPL, ADSK, AKAM, AMZN, CELG, CMCSA, COST, CTSH, DTV, FB, FFIV, GILD, GOOG, GRMN, INTC, MNST, MU, NFLX, NTAP, PCLN, QCOM, ROST, SNDK, TRIP finished higher for the week.  24/39

GRMN Earnings Flag...

                  (click image to enlarge)

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: AEIS, AIG, PFE, TSN, VECO, YY
Tuesday: ATVI, ALL, ARWR, CBOE, DTV, DISCA, DIS, EA, FEYE, FSLR, FXCM, GRPN, HSIC, LBTYA, MRO, MOS, TRIP, WFM,
Wednesday: CAR, CTSH, CTRP, FWLT, HUM, GMCR, MCP, PRGO, PRU, SCTY, SFUN, TSLA, FOXA, Z
Thursday: APA, DISH, FNMA, JAZZ, LMCA, MNST, NVDA, PCLN, REGN, SUNE, UBNT,
Friday: MHR, SSYS

Earnings Last 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, MTW, MDC, MA, TMUS, TPX, VRTX, VIAB, WYNN
Friday:  LNG

Q1 Earnings Reactions
Positive Reactions – WYNN, ESI, MA, TMUS, TPX, YELP, 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 – MTW, AKAM, DVA, EXPE, KRFT, LNKD, K, VIAB, VRTX, 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 78.

____________________

Setups


Horizontal Breakout: ATI, ETFC, FAS, KKD, MS, RCL, SPWR, SWKS, TLT, TPX, XONE, ADSK, AKAM, COST, MU, ROST, YHOO,
Diagonal Breakout: AAL, GLW, GME, IWM, JNPR, NKE, SCHW, STI, ZION, ANR, BBRY, CSIQ, DDD, ESI, QIHU, SCTY, SOHU, SSYS, V, VRSN, YELP, YNDX, ADBE, BIDU, FB, NTAP
Bull Flag: UNG, MSFT,  
One Day:
Potential Bullish Divergence:
Gap Up:  
Gap Down:   
Bear Flag: 
At Support:    
C- Pattern:   

Moves
New Highs: SNDK,     
Gap Up: WYNN,  
Gap Down: MTW,    
H Breakout:       
Diagonal Breakout: LVS, UBNT, CTSH,  
Breakout Test:
Bull Flag Bounce:   
Bounce: GLD, WLT, WDC,   
MACD Divergence Bounce: BX, CIEN,   
Bear Flag:
Support Break:    

______________________


49 of 100 NDX stocks closed higher on Friday and two were unchanged.


Leading NDX 100 stocks included: WYNN, SBAC, DISH, NXPI, WDC, CTSH, DLTR, ESRX, TSLA, GRMN

Lagging NDX stocks included: VRTX, EXPE, ALXN, FFIV, AKAM, GMCR, REGN, GILD, ADBE, BIIB

Leading stocks > +2% on Friday included: TPX

Lagging stocks < -2.0% included: MTW


Stocks to Watch on Monday
Holding Above 30 DMA= 44
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, BIDU, CTRX, DISH, FB, FOXA, LBTYA, SBAC

Moving Above 30 DMA = 5
BRCM, CTSH, DLTR, TSLA, WYNN

Moving Below 30 DMA = 5
ADSK, EXPE, LINTA, NVDA, VRTX

Staying Below 30 DMA
FAST, MSFT, MXIM, PAYX, VIAB, CHKP, PCAR, TXN, ADI, WDC, ILMN, FFIV, QCOM, VIP, STX, REGN, ISRG, AMAT, KLAC, LLTC, NTAP, XLNX,BBBY, ROST, ALTR, AMGN, HSIC, DISCA, SBUX, TSCO, INTU, AKAM, EBAY, ESRX, WFM TRIP, ADBE, AMZN, BIIB, GMCR, CERN, PCLN, MNST, NFLX, CA, GOOG

Sixteen Week Intermediate Term Market Trend: Up
3-Day Short Term Market Trend: Neutral

1 comment:

TraderBobb said...

Dave:
Thanks much (again) for this blog and for your details and ideas.
Gratefully,

Robert
CANI_212