Seven of nine sectors
moved higher on Friday…XLU, XLE and
XLF were the strongest sectors…XLI was the weakest sector.
Breadth strengthened as advancers led decliners 2.40 to 1 on the NYSE and advancers led decliners 2.38 to 1 on the
NASDAQ.
Friday – strengthened,
advancers led
Thursday – weakened, decliners led
Wednesday – weakened, advancers led
Tuesday – strengthened, advancers led
Monday – strengthened, advancers led
SPY up .57 at 200.71 on 65.9 million shares
VIX down .07 at 11.98…
TNX up .09 at 23.43…
TLT up .08 at 119.05...
XLF up .11 at 23.36 on 22.7 million shares, below average volume
AAPL up .25 at 102.50 on 44.6 million shares, all-time new high
FB up .96 at 74.82…on 26.2 million shares, below average volume
Technical Commentary:
IWM +0.56%,
QQQ +0.37%, SPY +0.28%, DIA +0.06%.
The
intermediate-term trend continues up as SPY makes another new all-time closing high and QQQ makes
its highest close since September 1, 2000 when it closed at 102.44.
Numerous Bull
Flag and Horizontal Breakout Setups appear on the chart for potential entry
next Tuesday following the three-day Labor Day weekend.
SPLK +8.63, +19.07% and AVGO
+5.73, +7.50% gapped higher on a
positive eps reaction.
Traders continue to
follow your entry rules.
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 = 200.00, 201.37, 204.32...
QQQ = 99.75,
101.13…
IWM = 115.73, 117.06, 118.76...
Support Levels
SPY = 197.59, 196.24,
195.16...
QQQ = 99.08, 97.99,
97.51…
IWM = 115.51, 114.31,
113.49...
Earnings Next Week: MFRM, CIEN
Q2 Earnings Reactions
Positive Reactions – SPLK,
AVGO, CRM, GPS, TFM, FL, AMAT, CSIQ, GME, HPQ, PCLN, NTES, ROST, SINA, NVDA,
MNST, ANR, FSLR, GTAT, LNKD, SFUN, SSYS, SUNE, UBNT, YOKU, 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,
More than 10% - SPLK, TWTR,
CMG, BIDU, BIIB, ISRG, LNKD, OSTK, SWI, SFUN, SSYS, SUNE, UA, VRSN, X
Negative Reactions – BBY,
QIHU, TSL, ADSK, CREE, GOGO,
JASO, JDSU, JWN, M, RAX, YOKU, SCTY, YELP, CTSH, MYL, AEM, AET,
AKAM, BWLD, BZH, CL, CMI, COP, DDD, ESI, GLW, GRMN, HLF, JEC, KRFT, LNG,
MTW, RYL, SLCA, UPL, UPS, VRTX, XOM, ALK, ALXN, AMZN, ANGI, ATI, BA, CAT, CELG, DHI, DNKN, EA, ETFC,
FCX, GM, HOG, ILMN, JNPR, KLAC, KMB, KO, LLTC, MCD, NFLX, P, PHM, QCOM, SBUX,
STI, STO, T, TPX, TRIP, TRV, UTX, V, XLNX, AMD, BAC, BHI, JCI, JNJ, LVS, MAT,
SLB, SNDK, STX, USB, YHOO, FAST, FDO, CAMP, BBBY, GIS,
CCL, WAG,
More than -10% - AMD,
ANGI, BWLD, CAMP, DHI, HLF, MXIM, P, SNDK, XLNX,
Reversal in progress – AET, AKAM, ALXN, AMZN,
ATI, EA, GIS, GRMN, ILMN, KO, KRFT, LNG, P, RYL, STX, TPX, VRTX,
Reversal of Initial
Reaction – BBY, BBBY, BZH, BBBY, CELG, DNKN, ETFC, KLAC, NFLX, RAX, SLCA, UPL, YELP,
YHOO, APOL, KBH, MON,
The SPY Market Forecast green line is at 95.
____________________
Setups
Horizontal Breakout: BBRY,
BBY, BX, FEYE, LNKD, LOCO, MS, SPWR, SPY, SSYS, STI, VRSN, YELP, RAX, CTXS, MSFT,
TXN, WDC,
Diagonal Breakout: CTRP,
P, SFUN, SOHU, Z, GOOG,
Bull Flag:
ATI, C, CAR, DAL, EMC, ETFC, FSLR, GOGO, GTAT, IBM, JASO, JCP, JD, JDSU, NKE,
NTES, SCHW, SCSS, SUNE, SWI, UAL, UBNT, X, BAC, CRM, KKD, ADBE, AKAM, AMZN, EBAY,
ESRX, EXPE, GMCR, INTC, MU, NFLX, QCOM, TRIP,
Potential Bullish
Divergence: LVS
Moves
New Highs: GPRO, SPY,
SSYS, SWKS, TWTR, AAPL, FFIV, GILD, MAR, NTAP, ROST, STX, TSLA, YHOO,
H Breakout: SOXL, SWKS,
MTW, SPLK,
D Breakout:
Bull Flag Bounce: AIG,
FAS, IWM, MS, PANW, TPX, VRSN, RAX, FB, MNST, MSFT, WDC,
Gap Up: SPLK, AVGO,
Gap Down:
Bounce: LOCO,
______________________
72 of 100 NDX stocks
closed higher and one was unchanged on
Friday.
Leading NDX 100 stocks included: AVGO, NXPI, TSLA, AMAT, FB, CHKP, MSFT, XLNX,
CERN, REGN
Lagging NDX stocks included: VIP, WYNN, LBTYA, GMCR, MXIM, ADSK, MU, MAT,
DLTR, EXPE
Leading stocks > +2% on Friday
included: GPRO, FEYE,
PANW, X, SFUN, LOCO, SWKS
Lagging stocks < -2.0% included:
KNDI
Stocks to Watch on Tuesday
Holding Above 30 DMA= 82
CHRW, INTC,
WDC, SYMC, GILD, SBAC, NTAP, EBAY, COST, FB, BBBY, CERN, EXPE, REGN, AMGN,
CTXS, FFIV, ISRG, YHOO, ESRX, TSLA, FOXA, MSFT, NFLX, ADP, CTRX, DISCA, MNST,
NVDA, ROST, WFM, AAPL, ATVI, CHKP, INTU, MAR, PAYX, BIIB, EQIX, ALXN, CELG,
FISV, SIAL, SIRI, VRSK, AKAM, AVGO, DISH, HSIC, KLAC, LMCA, ORLY,SRCL, STX,
VIP, ALTR, AMAT, BRCM, TXN, ADBE, ILMN, LINTA, TSCO, VOD, FAST, MU, NXPI, QCOM,
SNDK, GMCR, TRIP, AMZN, CMCSA, DTV, KRFT, SBUX, VRTX, LBTYA, MXIM, SPLS, ADI,
LLTC,
Moving Above 30 DMA =
2
MYL, XLNX
Moving Below 30 DMA = 0
Staying Below 30 DMA
BIDU,
GRMN, PCLN, GOOG, DLTR, PCAR, ADSK,
CTSH, WYNN, CA, CHTR, CSCO, MDLZ, EXPD, VIAB, MAT
Sixteen Week
Intermediate Term Market Trend: Up
3-Day Short Term Market
Trend: Up
