Stocks Rebound on Friday...NDX Led by NVDA, MNST...Weekly Flag on SPY, DIA, QQQ

All nine sectors moved higher on Friday…XLU, XLE and XLY were the strongest sectors…XLK was the weakest sector.

Breadth strengthened as advancers led decliners 3.12 to 1 on the NYSE and 2.28 to 1 on the NASDAQ.

Friday – strengthened, advancers led

Thursday – weakened, decliners led

Wednesday – strengthened, advancers led

Tuesday – weakened, decliners led

Monday – strengthened, advancers led

SPY up 2.21 at 193.24 on 117 million shares, above average volume

VIX down .89 at 15.77…

TNX down .09 at 24.15…

TLT down .25 at 115.52...

XLF up .22 at 22.38 on 51.2 million shares, above average volume

AAPL up .26 at 94.74 on 41.8 million shares

FB down .11 at 73.06…on 27.2 million shares

Technical Commentary:

SPY +1.16%, DIA +1.09%, IWM +0.97%, QQQ +0.72%.

Stocks rebounded on Friday sending all four indexex for a higher close on the week.  SPY and DIA formed a hammer and bullish harami on the weekly chart, QQQ formed a doji and bullish harami and IWM formed a hammer-like white candle and bullish harami.

                      (click image to enlarge)

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 = 194.30, 195.78...

QQQ = 96.31, 97.52, 98.28

IWM = 112.23, 114.31...

Support Levels

SPY = 191.57, 189.51...

QQQ = 93.57, 91.73, 90.44…

IWM = 110.15, 108.86...

Earnings season is winding down while the ramp up for retail earnings begins.  Next week starts with PCLN and GOGO on Monday morning.

This week:  PCLN, GOGO, CSIQ, JDSU, CREE, RAX, VJET, XONE, SINA, NTES, ADSK, NTAP, JCP

Q2 Earnings Reactions

Positive Reactions – 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 – 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 – GIS, WAG,

Reversal of Initial Reaction – BBBY, YHOO, APOL, KBH, MON,

The SPY Market Forecast green line is pointed UP at 17.

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Setups

Horizontal Breakout: CTRP, SCSS, ESRX, NFLX, WDC,

Diagonal Breakout: MU, STX,

Bull Flag: HPQ, QIHU, RCL, SWI, SWKS, TWTR, Z, AAPL, BIDU, EXPE, FB, GILD, INTC, MAR, MSFT, TSLA,

Potential Bullish Divergence: AAL, BBRY, BBY, DAL, FEYE, NKE, P, AKAM, SBUX, TRIP,

C- Pattern: ILMN, TRIP,

Moves

New Highs: EBAY,    

H Breakout: EBAY, ILMN,

Bull Flag Bounce: CTXS,  

Gap Up: MNST, NVDA, UBNT, YOKU,

Bounce: SPY, DIA, QQQ, FAS, ATI, ETFC, JD, ROST, WYNN, WFM, SBUX, TXN, QCOM, MU, MAR, COST, CMCSA, CELG, BRCM, AMZN, AKAM, IBM, MS, SCHW, SWI, TPX,

MACD Divergence Bounce: IWM, GRMN,   

C- Pattern: UBNT, 

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83 of 100 NDX stocks closed higher on Friday.

Leading NDX 100 stocks included: NVDA, MNST, ILMN, WYNN, ROST, DISCA, SBAC, ORLY, VIP

Lagging NDX stocks included: GMCR, TSLA, VOD, MYL, EXPE, NFLX, CTXS, VRSK, WDC, PCLN

Leading stocks > +2% on Friday included: ATI, ETFC, JD, FAS, TPX, BBY, BBRY

Lagging stocks < -2.0% included: SCTY, LOCO, FEYE, KNDI, GPRO, SFUN

Stocks to Watch on Monday

Holding Above 30 DMA= 25

CHRW, BIDU, INTC, WDC, SYMC, GILD, SBAC, NTAP, EBAY, COST, FB, BBBY, CERN, EXPE, REGN, AMGN, CTXS, FFIV, PCLN, ISRG, YHOO, SPLS, ESRX, DLTR, TSLA, FOXA, MSFT, NFLX

Moving Above 30 DMA = 12

ADP, BIIB, CTRX, DISCA, MNST, NVDA, ORLY, ROST, SIRI, SRCL, TSCO, WFM

Moving Below 30 DMA = 0

                                                                                              

Staying Below 30 DMA

ATVI, AAPL, CHKP, CTSH, WYNN, BRCM CA CELG, MAR, STX, DTV, EQIX, FISV, INTU, AKAM, ALXN, CHTR, CMCSA, CSCO, GOOG, LMCA, PAYX, SBUX, SIAL,  VOD, VRTX, ADBE, MDLZ, VRSK, EXPD, PCAR, MU, LYL, ADSK, AMZN, HSIC, KLAC, LINTA, AVGO, DISH, ILMN, QCOM, TRIP, ALTR, GMCR, KRFT, LLTC, NXPI, TXN, VIAB, XLNX, AMAT, LBTYA, VIP, SNDK, MAT, ADI, GRMN, FAST, MXIM

Sixteen Week Intermediate Term Market Trend: Up

3-Day Short Term Market Trend: Neutral