NDX Closes at New High as SPX, DJIA Pause...GMCR Gaps Up on KRFT Deal

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

Breadth weakened as decliners led advancers 1.52 to 1 on the NYSE and advancers led decliners 1.06 to 1 on the NASDAQ.

Friday – weakened, mixed

Thursday – strengthened, advancers led

Wednesday – weakened, mixed

Tuesday – weakened, advancers led

Monday – strengthened, advancers led

SPY down .31 at 199.19 on 76.1 million shares

VIX down .29 at 11.47…

TNX down .04 at 24.03…

TLT up .65 at 116.29...

XLF down .08 at 23.12 on 24.7 million shares, above average volume

AAPL up .74 at 101.32 on 44.1 million shares, all-time new high

FB unchanged at 74.57…on 20.9 million shares, below average volume

Technical Commentary:

QQQ +0.15%, IWM +0.01%, SPY -0.16%, DIA -0.18%.

The intermediate-term trend continues up as QQQ closes at a new high and SPY and DIA pause on Friday.

GMCR +15.46, +13.26% gapped higher following an agreement with KRFT was announced.

ROST +5.12, +7.39%, CRM +4.09, +7.34%, GPS +2.25, +5.21%, GME +2.41, +5.95%, TFM +2.46, +8.08%, FL +1.55, +2.95% moved higher following positive earning reaction on Friday.

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 = 97.99, 97.51, 96.57…

IWM = 114.31, 113.49, 112.80...

Earnings Next Week: BBY, QIHU, TSL, AVGO,

Q2 Earnings Reactions

Positive Reactions – 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% - TWTR, CMG, BIDU, BIIB, ISRG, LNKD, OSTK, SWI, SFUN, SSYS, SUNE, UA, VRSN, X

Negative Reactions – 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 – BBBY, BZH, BBBY, CELG, DNKN, ETFC, KLAC, NFLX, RAX, SLCA, UPL, YELP, YHOO, APOL, KBH, MON,

The SPY Market Forecast green line is pointed UP at 92.

____________________

Setups

Horizontal Breakout: IWM, SPY, AIG, ETFC, FAS, GOGO, MS, NKE, SCHW, UA, UAL, YELP, AKAM, CTXS, MSFT, MU, STX

Diagonal Breakout: GPRO, MFRM, BIDU, WDC,

Bull Flag: BBRY, CAR, CTRP, EMC, FSLR, GLW, HPQ, JASO, JCP, KNDI, NTES, P, PANW, SCTY, SFUN, SOHU, SPWR, SWKS, TPX, UBNT, AMZN, FB, GOOG, MNST, NTAP, TSLA,

Potential Bullish Divergence: BX, FEYE,

Gap Up:

Gap Down:

Bear Flag:   

At Support:   

C- Pattern: 

Moves

New Highs: LNKD, YELP, AAPL, EXPE, GILD, NFLX, YHOO,

H Breakout: C, SUNE, INTC,

D Breakout: TWTR,

Bull Flag Bounce:  GTAT, SSYS, X, PCLN,

Gap Up: GMCR, ROST, CRM, GPS, GME, TFM, FL,

Gap Down:  

Bounce: TRIP,  

MACD Divergence Bounce:  

C- Pattern: 

Support Break:      

______________________

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

Leading NDX 100 stocks included: GMCR, ROST, TRIP, NXPI, VOD, WFM, GILD, TSCO, NFLX, VRTX

Lagging NDX stocks included: INTU, LBTYA, MNST, BIDU, DISCA, CSCO, PCAR, MDLZ, CHTR, MAT

Leading stocks > +2% on Friday included: GME, SSYS, LNKD, GTAT, X, LOCO, SUNE

Lagging stocks < -2.0% included: YOKU

Stocks to Watch on Monday

Holding Above 30 DMA= 76

CHRW, BIDU, INTC, WDC, SYMC, GILD, SBAC, NTAP, EBAY, COST, FB, BBBY, CERN, EXPE, REGN, AMGN, CTXS, FFIV, PCLN, 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, LBTYA, LMCA, ORLY,SRCL, STX, VIP, ALTR, AMAT, BRCM, TXN, ADBE, GOOG, ILMN, LINTA, TSCO, VOD, ADI, FAST, LLTC, MU, GRMN, NXPI, QCOM, SNDK

Moving Above 30 DMA = 3

GMCR, MXIM, TRIP

Moving Below 30 DMA = 1

CMCSA

                                                                                                             

Staying Below 30 DMA

AMZN, DLTR, PCAR, SBUX, SPLS, ADSK, CTSH, WYNN, CA, DTV, CHTR, CSCO, VRTX, MDLZ, EXPD, MYL, KRFT, VIAB, XLNX, MAT

Sixteen Week Intermediate Term Market Trend: Up

3-Day Short Term Market Trend: Up