None of the nine sectors moved higher on
Thursday…however…XLB, XLP and XLU were the
strongest sectors…XLE was the weakest sector.
Breadth weakened…as decliners led advancers 4.40 to 1 on the NYSE and 4.20 to 1 on the NASDAQ.
Thursday – weakened, decliners led
Wednesday –
strengthened, advancers led
Tuesday – weakened, decliners
led
Monday – strengthened,
advancers led
Friday – strengthened,
mixed
SPY down 2.25 at 195.71 on 144.8 million shares, above average volume
VIX up 3.54 at 14.54…
TNX down .63 at 24.75…
TLT up 1.43 at 114.89...
XLF down .30 at 22.65 on 34.1 million shares
AAPL down 1.69 at 93.09 on 57.1 million shares
FB down 1.25 at 66.41…on 38 million shares
Technical Commentary:
DIA – 0.85%,
SPY – 1.14%, QQQ –
1.33%, IWM – 1.54%.
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 = 94.89, 96.31…
IWM = 116.46, 120.51…
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 – C,
Tuesday –
GS, INTC, JPM, JNJ, YHOO
Wednesday
– BAC, SCHW, USB, EBAY, LVS, SNDK, SCSS, URI
Thursday –
BHI, BAX, BX, ESI, MAT, MS, OSTK, PM, AMD,
GOOGL, IBM, SLB, STX, SWKS
Friday –
GE, HON, JCI, KSU
Q2 Earnings Reactions
Positive Reactions – C,
GS, INTC, JPM, AA, STZ, APOL, BKS, KBH, MON, MU, NKE, SCHN,
Negative Reactions –
BAC, JNJ, USB, FAST, FDO, CAMP, BBBY, GIS, CCL, WAG,
Reversal in progress – GIS,
Reversal of Initial
Reaction – BBBY, APOL, KBH, MON,
The SPY Market Forecast green line is in the upper zone at 83.
____________________
Setups
Horizontal Breakout: IBM,
MS,
Diagonal Breakout:
Bull Flag: SUNE, TPX, V, FB, GILD,
Potential Bullish
Divergence:
Gap Up:
Gap Down:
Bear Flag:
At Support: GOGO, JDSU,
SCTY, TSL, TWTR, VRXN, Z, ANGI, SSYS, ANR, ESI, AVGO, TRIP, TSLA, WYNN, XLNX,
YHOO,
C- Pattern:
Moves
New Highs:
H Breakout:
Diagonal Breakout:
Bull Flag Bounce:
Gap Up: SCSS,
Gap Down: UNG, YNDX, COST,
GOOG, MU, QCOM, SNDK,
Breakout Test:
Bounce: GLD,
MACD Divergence Bounce:
Bear Flag:
Support Break: CTRP, ETFC,
GLW, IWM, JASO, NKE, RCL, STI, BAC, CRM, FSLR, LVS, UPL, VJET, YOKU, ZION, AAPL,
CELG, EXPE, ILMN, PCLN, SBUX,
C- Pattern:
______________________
13 of 100 NDX stocks
closed higher on Thursday and one was unchanged.
Leading NDX 100 stocks included: DISCA, MSFT, SIRI, WFM, SYMC, EBAY
Lagging NDX stocks included: SNKD, MAT, MU, CELG, REGN, NXPI, VIP, WDC,
STX, ILMN, INTC
Leading stocks > +2% on Thursday
included: SCSS
Lagging stocks < -2.0% included:
JD, Z, AAL, JASO, FAS, BBY, TSL, CSIQ,
QIHU, UAL, DAL,
Stocks to Watch on Friday
Holding Above 30 DMA= 52
CHRW,
SIAL, MU, CHTR, ADP, EQIX, ATVI, CSCO, ADBE, AMAT, INTU, MSFT, BIDU, CMCSA,
BRCM, GOOG, SBUX, KLAC, INTC, STX, WDC, ORLY, SRCL, LMCA, XLNX, SYMC, DISH,
DTV, VRTX, FISV, GILD, SBAC, MDLZ, NTAP, EBAY, VRSK, COST, PCAR, PAYX, AMZN,
DISCA, NVDA, CTRX, FB, LBTYA, BBBY, MYL, CERN, VOD, SIRI, VIAB, VIP
Moving Above 30 DMA = 0
Moving Below 30 DMA = 20
AAPL,
ALTR, AVGO, CELG, CTSH, DLTR, EXPD, EXPE, HSIC, KRFT, MAR, NFLX, NXPI, PCLN,
QCOM, REGN, SNDK, SPLS, TXN, WYNN
Staying Below 30 DMA
ADSK, CTXS, YHOO, AKAM, ALXN, AMGN,
BIIB, FOXA, GMCR, ILMN, LLTC, MAT, MNST, TSLA, ADI, TRIP, FFIV, ROST, GRMN, CA,
FAST, ISRG, LINTA, CHKP, MXIM, WFM, ESRX, TSCO
Sixteen Week
Intermediate Term Market Trend: Up
3-Day Short Term Market
Trend: Down
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