SPY, DIA, QQQ Make New Closing High...XLB, XLE, XLF, XLI, XLK and XLP All-time Closing High...

Seven of nine sectors moved higher on Friday…XLI, XLE and XLF were the strongest sectors…XLU was the weakest. 

Sector Posture 

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

Neutral trend near resistance:

Neutral trend near support:

Breadth weakened slightly…as advancers led decliners 2.88 to 1 on the NYSE and 2.52 to 1 on the NASDAQ.

Friday – weakened, advancers led

Thursday – strengthened, advancers led

Wednesday – strengthened, advancers led

Tuesday – weakened, decliners led

Monday – weakened, decliners led

SPY up .93 at 195.38 on 78.6 million shares, below average volume

VIX down .95 at 10.73…

TNX up .13 at 25.97…

TLT unchanged at 111.59...

XLF up .15 at 22.80 on 29.8 million shares

AAPL down 1.78 at 645.57 on 12.5 million shares

FB down .69 at 62.50…on 42.4 million shares, below average volume

Technical Commentary:

IWM + 0.96%, QQQ + 0.57%, DIA + 0.56%, SPY + 0.48%.

SPY, DIA new-all time high and QQQ new bull market high.  XLB, XLE, XLF, XLI, XLK, and XLP each made a new all-time closing high as all nine sectors continue positive.

IWM broke out of horizontal resistance with a chart target of 122.60 within three to six weeks.

                       (click image to enlarge)

Trade with the trend of the chart you are trading.  As always up trending markets can have a bull flag pullback anytime during the trend.  You should move up your profit protection stops according to your rules.  Continue to follow your rules.

Short-term up trend Chart Targets:

SPY = 194.89, 198.09 …

QQQ = 93.56, 96.39…

IWM = 116.57, 118.62…

Support Levels

SPY = 191.96, 190.88, 189.81…

QQQ = 91.34, 90.44…

IWM = 115.02, 113.84…

Q1 Earnings Reactions

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

Negative Reactions – KKD, SPLK, 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, DKS, DVA, EBAY, ESI, 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, NKE,NSC, NUE, NVDA, P, PCAR, PFE, PG, PNRA, PRGO, QCOM, REGN, SAVE, SEE, SFUN, SIRI, SOHU, SPLS, SSYS, STLD, STT, STX, SUNE, SWI, T, TJX, TSLA, TSN, TWTR, UA, UBNT, UNH, UPS, V, VECO, VIAB, VMW, VRTX, VZ, WDC, WFM, XLNX, YNDX, YY, ZION, ZNGA,

Reversal in progress – AEIS, AMGN, BRCM, CHKP, CTSH, EXPE, FEYE, GRPN, KLAC, KMB, LLTC, LXK, MOS, NUE, PCAR, STLD, WDC, ZION

Reversal of Initial Reaction – ADM, AIG, AKAM, AKS, ARWR, ATI, BAC, BMY, BRCM, CAR, CELG, COF, DDD, DIS, DISCA, DVA, ESRX, F, FFIV, IBM, JCI, K, KRFT, LLY, LNKD, LVS, MMM, MU, NKE, NSC, NUE, NVDA, PG, PRGO, QCOM, SAVE, SIRI, SOHU, STX, SUNE, T, UPS, VIAB, VMW, VZ, YNDX, YY, ANGI, ANR, BTU, COG, DECK, ETFC, RF, SCHW, SWK, INTC, YHOO

The SPY Market Forecast green line is in the upper zone at 98.

____________________

Setups

Horizontal Breakout: ATI, GLW, P, PANW, RAX, RCL, VRSN, TBT, TWTR,

Diagonal Breakout: NTES, SOHU,

Bull Flag: CREE, DDD, GTAT, LNKD, NKE, QIHU, SFUN, YELP,

Potential Bullish Divergence:   

Gap Up:    

Gap Down:

Bear Flag: KKD, ANR, ESI, GLD, WLT,

At Support:     

C- Pattern: GME, GTAT, HOG, JCP, UPL, IBM,

Moves

New Highs: AAL, AIG, DAL, FAS, JD, RCL, SPY, SWKS, TPX, UAL, YNDX,

H Breakout: ANGI, BX, C, FAS, HOG, IWM, MTW, SCHW, SCSS, STI, SWI, ZION,

Diagonal Breakout: JCP, P,

Bull Flag Bounce: CRM, GME, GOGO, Z,

Gap Up:

Gap Down: 

Breakout Test: CIEN, CTRP, UBNT,

Bounce:

MACD Divergence Bounce:

Bear Flag: FSLR,    

Support Break: TLT,

C- Pattern: BAC, JNPR, MTW, P, SCHW, SWI, 

______________________

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

Leading NDX 100 stocks included: GMCR, BIDU, ILMN, AKAM, YHOO, ADBE, ADSK, WFM, STX, AMZN

Lagging NDX stocks included: EBAY, MXIM, FB, LBTYA, BIIB, NTAP, PCLN, MAT, GILD, WYNN

Leading stocks > +2% on Friday included: ANGI, ETFC, AAL, BX, JD, SCSS, TPX, UAL, CSIQ, MTW

Lagging stocks < -2.0% included: TSL, SUNE,  

Stocks to Watch on Monday

Holding Above 30 DMA= 90

MAR, CHRW, EXPD, SIAL, MDLZ,MU, SNDK, GILD, CHTR, AAPL, CTXS, DTV, ADP, CELG, FISV, EQIX, NXPI, AVGO, LBTYA, SBAC,QCOM, ATVI, KRFT, FOXA, GMCR, ALXN, SYMC, CTRX, ILMN, ADSK, NFLX, CSCO, ADBE, AMAT, HSIC, INTU, MSFT, MXIM, BIDU, CMCSA, FFIV, TRIP, BRCM, GOOG, SIRI, AKAM, AMGN, BIIB, ESRX, EXPE, LLT, PCLN, SBUX, VRTX, VIAB, FB, ALTR, CERN, DLTR,NTAP, TXN, DISCA, REGN, TSLA, AMZN, GRMN, KLAC, NVDA, ADI, INTC, LINTA, MYL, STX, WDC, VIP, COST, ORLY, SRCL, FST, ISRG, LMCA, CTSH, PCAR, TSCO, MAT, PAYS, ROST, VRSK, CHKP, YHOO

Moving Above 30 DMA = 3

BBBY, CA, MNST

Moving Below 30 DMA = 0

Staying Below 30 DMA

WYNN, DISH, SPLS, VOD, XLNX, EBAY, WFM

Sixteen Week Intermediate Term Market Trend: Up

3-Day Short Term Market Trend: Up