Stocks Intra-day Reversal on Friday...Poised to Bounce...

Eight of nine sectors moved higher on Friday…XLY, XLK and XLP were the strongest sectors…XLE was the weakest sector again.

Sector Posture 

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

Neutral trend near resistance: XLF, XLU, XLY

Neutral trend near support:

Breadth strengthened…as advancers led decliners 2.05 to 1 on the NYSE and 1.56 to 1 on the NASDAQ.

Friday – strengthened, advancers led

Thursday – weakened, decliners led

Wednesday – weakened, decliners led

Tuesday – weakened, decliners led

Monday – strengthened, advancers

SPY up .65 at 188.05 on 97.4 million shares

VIX down .73 at 12.44…

TNX up .16 at 25.18…

TLT down .32 at 113.54...

XLF up .02 at 21.75 on 33.4 million shares

AAPL up 8.68 at 597.51 on 9.8 million shares

FB up .10 at 58.02…on 47.9 million shares, below average volume

Technical Commentary:

DIA + 0.29%, SPY + 0.35%, IWM + 0.63%, QQQ + 0.66%.

SPY, QQQ, DIA and IWM form higher low on Friday

IWM confirms Thursday’s hammer

SPY, QQQ, DIA form bullish harami in bull flag pattern

XLB, XLF, XLI, XLK, XPL, XLU, XLV, XLY form bullish candle pattern

ADSK, AMAT, DDS, JCP gap higher on positive earnings reaction

Chart Signals will watch for a potential support bounce entry on Monday.

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, 191.07, 192.27…

QQQ = 89.77, 90.77…

IWM = 113.84, 115.25…

Support Levels

SPY = 189.14, 188.21, 186.01

QQQ = 88.21, 87.07, 85.53

IWM = 111.22, 110.09, 108.28

Q1 Earnings Reactions

Positive Reactions – 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 – 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, BIDU, NFLX, RF, INTC

The SPY Market Forecast green line is in the upper zone at 84.

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Setups

Horizontal Breakout: CTRP, JNPR, KKD, Z, GOGO, SOHU, YNDX, AAPL, ADBE, EBAY, ESRX, MNST,

Diagonal Breakout: MS, CIEN, ESI, LNKD, P, QIHU, SFUN, TWTR, YELP, STX,

Bull Flag: DIA, QQQ, SPY, XLB, XLI, XLP, XLV, AAL, ALK, AVGO, AXP, BA, CAT, CJES, DAL, FDX, GE, KS, MAR, MCD, UPS, UAL, CELG, GMCR, TRIP, ABG, GPK, TRN, URI,     

Potential Bullish Divergence: SCHW, TSL, YOKU,  

Gap Up:  

Gap Down:  

Bear Flag:  

At Support: C, FSLR, SWKS, ANR, BBRY, LVS, INTC, WFM, XLNX,

C- Pattern: 

Moves

New Highs: 

Gap Up: RAX, ADSK, AMAT, DDS, JCP

Gap Down: CSIQ,

H Breakout:

Diagonal Breakout: 

Breakout Test:  

Bull Flag Bounce:  

Bounce:  AAL, ATI, HOG, MS, NKE, SCSS, SPY, V, XONE, AMZN, COST, DTV, EBAY, MU, ROST, SBUX, SNDK,

MACD Divergence Bounce: ETFC, GME, IBM, IWM, MFRM, MTW, PANW, RCL, SWI,

Bear Flag: 

Support Break: WLT,  

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

Leading NDX 100 stocks included: AMAT, ADSK, SNDK, ISRG, ADBE, REGN, INTU, VIP, SPLS, NFLX

Lagging NDX stocks included: NTAP, MYL, WFM, TRIP, YHOO, ISRG, CELG, CHKP, INTC, VRTX

Leading stocks > +2% on Friday included: RAX, GOGO, XONE, Z, PANW, MFRM, SCSS

Lagging stocks < -2.0% included: CSIQ, ANR, WLT, SCTY, UPL,

Stocks to Watch on Monday

Holding Above 30 DMA= 38

MAR, CHRW, SPLS, EXPD, SIAL, MDLZ, MU, SNDK, GILD, CHTR, AAPL, CTXS, DTV, ADP, CELG, FISV, EQIX, NXPI, AVGO, MAT, VRSK, LBTYA, SBAC, QCOM, ATVI, KRFT, COST, FOXA, GMCR, ALXN, MNST, SYMC, CTRX, DISH, ILMN, ADSK, NFLX, CSCO

Moving Above 30 DMA = 13

ADBE, AMAT, BIIB, DLTR, HSIC, INTU, MSFT, MXIM, PAYX, REGN, ROST, SBUX, VIAB

Moving Below 30 DMA = 0

Staying Below 30 DMA

AKAM, BIDU, ORLY, SIRI, SRCL, VOD, VRTX, TRIP, INTC, TXN, FB, LMCA, CMCSA, GRMN, NVDA, YHOO, CTSH, EXPE, LINTA, MYL, WYNN, TSLA, BRCM, FAST, CHKP, PCAR, ADI, WDC, FFIV, VIP, STX, ISRG, KLAC, LLTC, NTAP, XLNX, BBBY, ALTR, AMGN, DISCA, TSCO, EBAY, ESRX, WFM, AMZN, CERN, PCLN, CA

Sixteen Week Intermediate Term Market Trend: Up

3-Day Short Term Market Trend: Down