All nine sectors moved lower on Thursday…however… XLU, XLP and XLY
were the strongest sectors…XLE was the weakest sector.
Sector Posture – two sectors are positive
Positive trend: XLK, XLV
Neutral trend near
resistance:
Neutral trend near
support: XLB, XLF, XLP, XLU, XLY
Negative trend: XLE, XLI
Breadth weakened
as decliners led advancers 10.28 to 1 on
the NYSE and 5.00 to 1 on the NASDAQ.
Thursday – weakened, decliners led
Wednesday – weakened, mixed
Tuesday – weakened,
mixed
Monday – strengthened,
decliners led
Friday – weakened,
decliners led
SPY down
3.89 at 193.09 on
182.3 million shares, over double average volume
VIX up 3.62 at 16.95…
TNX up .02 at 25.56…
TLT down .34 at 113.98...
XLF down .47 at 22.41 on 50.2 million shares, near double average
volume
AAPL down 2.55 at 95.60 on 56.6 million shares
FB down 2.03 at 72.65…on 43.8 million shares
Technical Commentary:
IWM – 2.28%, QQQ – 2.02%, SPY – 1.97%, DIA
– 1.89%.
The Unemployment report for July will be out Friday morning 8:30
am.
Trade with the trend of
the chart you are trading and continue to move your profit protection
stops. Continue to follow
your rules.
Short-term up trend Chart
Targets:
SPY = 198.12, 199.06…
QQQ = 96.31, 97.52, 98.28
IWM = 116.46, 119.09…
Support Levels
SPY = 196. 59, 194.13,
193.11…
QQQ = 93.57, 91.73,
90.44…
IWM = 114.66, 113.16…
Earnings this week:
Monday – CMI, TSN,
WYNN, JEC, HLF
Tuesday – AET, AKS, DLR, GLW, HCA, MDC, UPS, YNDX, AMGN, AXP, BWLD, CHRW, ESRX, FISV, MAR, MRK, PFE, SLCA, TWTR, X, VRTX
Wednesday – GRMN, HES, AEM, AKAM, CTRP, EQIX, KRFT,
LRCX, MTW, WDC, WFM, YELP
Thursday – DDD, BZH, CL, COP, DTV, XOM, ESI, RYL, TEVA, TWC, EXPE, LNG, LNKD, MA, MCHP, SPWR, TSLA, TRLA
Friday – CBOE, CVX, HLT, PG,
BRK.A
Q2 Earnings Reactions
Positive Reactions –
AKS, AMGN, CHRW, ESRX, HCA, HES, LRCX, TSN, TWTR, WYNN, X, YNDX, CMG, BIIB, ISRG, SWI,
UA, VRSN, AAPL, APD, CA, CHKP, CMCSA, CTXS, DAL, DECK, DOW, FFIV, FB, FTI, GD,
LXK, LMT, NBR, NDAQ, NOK, OSTK, ORLY, PETS, RHI, STLD, SWK, TSCO, TXN, WHR,
XRX, ZION, BX, C, GOOGL, GS, HON, INTC, KSU, JPM, PM, SCSS, SWKS, URI, AA,
STZ, APOL, BKS, KBH, MON, MU, NKE, SCHN,
Reversal in progress – GIS,
WAG,
Reversal of Initial
Reaction – BBBY, YHOO, APOL, KBH, MON,
The SPY Market Forecast green line is pointed down at 59.
____________________
Setups
Horizontal Breakout: JCP,
Diagonal Breakout:
Bull Flag:
NTES, QIHU, RCL, SFUN, Z, AAPL, BIDU, COST, FB, MAR, MSFT, WYNN,
Potential Bullish
Divergence:
Gap Up: LNKD, EXPE
Gap Down: GPRO,
Bear Flag:
At Support: AAL, BBY,
P, STI, TSL, V, BAC, CMCSA, GOOG, MYL, STX, TXN,
C- Pattern:
Moves
New Highs:
H Breakout:
Diagonal Breakout:
Bull Flag Bounce:
Gap Up:
Gap Down: SPY, MTW, SWI,
DDD, UPL, MU,
Breakout Test:
Bounce: UNG,
MACD Divergence Bounce:
Bear Flag:
Support Break: C,
FAS, GLD, IWM, JASO, SCSS, SPWR, CREE, HOG, MFRM, UBNT, YOKU, ADBE, ADSK, AMZN,
ILMN,
C- Pattern:
______________________
4 of 100 NDX stocks
closed higher on Thursday.
Leading NDX 100 stocks included: SPLS, DISCA, GRMN, BRCM
Lagging NDX stocks included: KRFT, MU, TRIP, CHTR, ADSK, ADBE, VRTX, VOD,
NVDA, ILMN, QCOM
Leading stocks > +2% on Thursday
included: GPRO, JDSU
Lagging stocks < -2.0% included:
MTW, QIHU, GOGO, FAS, JASO, SUNE, CSIQ,
SPWR, BX, BBRY, BBY, SCTY, RCL
Stocks to Watch on Friday
Holding Above 30 DMA= 41
CHRW, ADP,
EQIX, INTU, MSFT, BIDU, INTC, STX, WDC, SYMC, DTV, FISV, GILD, SBAC, NTAP,
EBAY, COST, DISCA, CTRX, FB, BBBY, CERN, AAPL, CELG, EXPE, REGN, AMGN, CTXS,
FFIV, PCLN, WYNN, BIIB, CHKP, ISRG, CA, TSCO, YHOO, BRCM, SPLS, ESRX, WFM
Moving Above 30 DMA = 0
Moving Below 30 DMA = 20
AKAM,
ALXN, ATVI, CHTR, CMCSA, CSCO, CTSH, DLTR, GOOG, LMCA, MAR, ORLY, PAYX, SBUX,
SIAL, SIRI, SRCL, TSLA, VOD, VRTX
Staying Below 30 DMA
ADBE, MDLZ, VRSK, EXPD, PCAR, MU,
MYL, ADSK, AMZN, HSIC, KLAC, LINTA, AVGO, DISH, ILMN, QCOM, TRIP, ALTR, GMCR,
KRFT, LLTC, NXPI, TXN, VIAB, XLNX, AMAT, NFLX, LBTYA, NVDA, VIP, SNDK, FOXA,
MAT, MNST, ADI, ROST, GRMN, FAST, MXIM
Sixteen Week
Intermediate Term Market Trend: Up
3-Day Short Term Market
Trend: Down
