SPY, XLK, XLB Make New All -time High Close as IWM Leads Rally Again...

Seven of the nine sectors moved higher on Friday…XLB, XLK and XLY were the strongest sectors…XLU was the weakest again.

Sector Posture 

Positive trend: XLB, XLE, XLI, XLK, XLP, XLV, XLY

Neutral trend near resistance: XLF

Neutral trend near support: XLU

Breadth strengthened…as advancers led decliners 2.22 to 1 on the NYSE and 2.59 to 1 on the NASDAQ.

Friday – strengthened, advancers led

Thursday – mixed, advancers led

Wednesday – strengthened, advancers led

Tuesday – weakened, decliners led

Monday – weakened, advancers led

SPY up .76 at 190.35 on 60.1 million shares, New All-time High

VIX down .67 at 11.36…

TNX down .19 at 25.36…

TLT up .60 at 112.70...

XLF up .07 at 22.04 on 16.6 million shares

AAPL up 6.86 at 614.13 on 8.3 million shares

FB up .83 at 61.35…on 38.2 million shares, below average volume

Technical Commentary:

DIA + 0.39%, SPY + 0.40%, QQQ + 0.73%, IWM + 1.09%.

IWM leads for second day in a row and third time this week.

XLK makes new all-time high close.
XLB makes new all-time high close.
Seven of nine sectors are positive.
AAPL hits 52-week high.
AMZN breaks out of reversal inverse head & shoulders.
BIDU breaks out of reversal channel.
FB breaks out first resistance level nearing channel resistance.
Z makes new all-time high.
NFLX makes two-month high after reversal break out.
PCLN breaks out reversal inverse head & shoulders.
TRIP breaks out of horizontal resistance following bull-flag bounce, PT=101.

SPY made a new all-time high close on Friday.  DIA, QQQ and IWM are below their recent all-time high close as seen in the chart below...

                      (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 = 190.42, 191.49, 192.85…

QQQ = 89.86, 90.64, 91.36…

IWM = 113.03…

Support Levels

SPY = 188.54, 188.01, 186.48…

QQQ = 88.61, 87.85, 86.58…

IWM = 111.04, 110.27, 109.19…

Q1 Earnings Reactions

Positive Reactions – GME, TSL, ADSK, AMAT, DDS, JCP, AAPL, AET, ALL, ALXN, ANGI, ANR, APA, ATVI, BA, BHI, BIDU, BTU, BWLD, BX, C, CHRW, CNX, COG, CTRP, CTRX, CTXS,  DAL, DAVE, DECK, DHI, DNB, DO, DTV, DV, EA, ENR, ETFC, ESI, FCX, FISV, FNMA, FOXA, GE, GILD, GMCR, GME, GRMN, HAL, HAS, HOG, HUM, IBKR, INTC, JNJ, KO, LPNT, LRCX, LVLT, MA, MAR, MGM, MNST, MRK, MS, NOK, NXPI, PBI, POT, PRU, RF, S, SCHW, SCTY, SNDK, SPWR, STI, SWK, SWKS, TKR, TMUS, TPX, TRIP, TRV, TSO, TWX, UNP, URI, UTHR, VRSK, WFC, WLP, WYNN, XRX, YELP, YHOO, Z

Negative Reactions – DKS, SPLS, TJX, ACI, ADM,  AEIS, AIG, AKAM, AKS, ALTR, AMGN, AMZN, ARWR, ATI, BAC, BBRY, BIIB, BMY, BRCM, CAR, CBOE, CELG, CHKP, CLF, CLX, COF, CREE, CTSH, DDD, DIS, DISCA, DISH, DVA, EBAY, ESRX, EXPE, F, FAST, FEYE, FFIV, FXCM, GOOG, GRPN, IBM, JAZZ, JCI, JDSU, JPM, K,  KLAC, KMB, KRFT, LLTC, LLY, LNKD, LVS, LXK, MCP, MMM, MOS, MTW, MU, MXIM, NSC, NUE, NVDA, P, PCAR, PFE, PG, PNRA, PRGO, QCOM, REGN, SAVE, SEE, SFUN, SIRI, SOHU, SSYS, STLD, STT, STX, SUNE, SWI, T, TSLA, TSN, TWTR, UA, UBNT, UNH, UPS, V, VECO, VIAB, VMW, VRTX, VZ, WDC, WFM, XLNX, YNDX, YY, ZION, ZNGA, 

Reversal in progress – AKAM, BRCM, CHKP, CTSH, EXPE, GRPN, KMB, LLTC, LXK, MOS, NUE, STLD, SUNE, ZION

Reversal of Initial Reaction – ADM, AIG, AKS, ARWR, ATI, BAC, BMY, CAR, CELG, COF, DDD, DIS, F, IBM, K, KRFT, LLY, LVS, MMM, MU, NSC, NUE, NVDA, PG, SIRI, T, UPS, VZ, YNDX, ANGI, RF, INTC

The SPY Market Forecast green line is in the upper zone at 85.

____________________

Setups

Horizontal Breakout: AAL, C, CTRP, DAL, KKD, MS, P, SCSS, SPY, TPX, V, CRM, DDD, QIHU, SWI, VRSN, ADBE, AMZN, CELG, CMCSA, CTSH, EBAY, FB, GOOGL, MSFT, MU, NTAP, ROST, SBUX,

Diagonal Breakout: ATI, FAS, GLW, JNPR, MFRM, MTW, SPWR, STI, GOGO, NTES, SSYS, AKAM, ESRX, INTC, QCOM, TSLA, TXN, WDC,

Bull Flag: JCP, RAX, TSL, GILD, GMCR, MNST,

Potential Bullish Divergence:   

Gap Up:  

Gap Down:  

Bear Flag: FSLR, ZION, BAC, CSIQ,

At Support: GLD, HOG, IBM, UNG, X, TWTR,

C- Pattern: 

Moves

New Highs: Z, AAPL, NFLX, SNDK,

Gap Up: GME,

Gap Down:

H Breakout: NKE, RCL, SFUN, UAL, YNDX, LNKD, SOHU, BIDU, FFIV, GRMN, PCLN, TRIP, YHOO,

Diagonal Breakout: BX, IWM, YELP, STX,

Breakout Test: WYNN,

Bull Flag Bounce: TLT, ADSK,

Bounce:

MACD Divergence Bounce:  

Bear Flag:   

Support Break: UPL,   

______________________

82 of 100 NDX stocks closed higher on Friday and one was unchanged.

Leading NDX 100 stocks included: TRIP, DISH, DISC, GRMN, AVGO, NFLX, VIP, BIDU, AMZN, CTSH

Lagging NDX stocks included: GILD, DLTR, NTAP, SBAC, DTV, CTRX, AMGN, SPLS, MAT, WYNN

Leading stocks > +2% on Friday included: SINA, SFUN, Z, GME, UAL, SCSS, MFRM, MTW

Lagging stocks < -2.0% included: ESI, XONE, ANR, TWTR, WLT

Stocks to Watch on Tuesday

Holding Above 30 DMA= 71

MAR, CHRW, EXPD, SIAL, MDLZ, MU, SNDK, CHTR, GILD, AAPL, CTXS, DTV, ADP, FISV, EQIX, CELG, VRSK, NXPI, AVGO, LBTYA, SBAC, QCOM, ATVI, KRFT, COST, FOXA, ALXN, MNST, SYMC, CTRX, GMCR, ILMN, ADSK, NFLX, CSCO, ADBE, AMAT, HSIC, INTU, MSFT, MXIM, BIDU, CMCSA, FFIV, TRIP, BRCM, GOOG, SIRI, AKAM, AMGN, ESRX, EXPE, LLTC, MAT, SBUX, VRTX, VIAB, FB, ALTR, BIIB, CERN, CHKP, DISCA, DLTR, NTAP, ORLY, PCLN, REGN, TSLA, TXN, WYNN

Moving Above 30 DMA = 10

ADI, AMZN, CTSH, DISH, GRMN, KLAC, NVDA, PAYX, ROST, YHOO

Moving Below 30 DMA = 0

Staying Below 30 DMA

SPLS, SRCL, VOD, INTC, LMCA, LINTA, MYL, FAST, PCAR, WDC, VIP, STX, ISRG, XLNX, BBBY, TSCO, EBAY, WFM, CA

Sixteen Week Intermediate Term Market Trend: Up

3-Day Short Term Market Trend: Up