Seven of nine sectors
moved higher on Thursday…XLF, XLV
and XLB were the strongest sectors…XLU was the weakest
sector.
Breadth weakened slightly…advancers led decliners…1.54 to
1 on the NYSE and strengthened 1.49 to 1 on the NASDAQ.
Thursday – mixed, advancers led
Wednesday –
strengthened, advancers led
Tuesday – strengthened,
advancers led
Monday – mixed,
decliners led
Friday – weakened, decliners led
SPY up 1.07 at 201.82 on 94.5 million shares, above average volume
VIX down .62 at 12.03…
TNX up .29 at 26.29…
TLT up .36 at 113.16...
XLF up .23 at 23.81 on 51.5 million shares, above average volume
AAPL up .21 at 101.79 on 36.9 million shares
FB up .57 at 77.00…on 22.9 million shares
Technical Commentary:
SPY +
0.53%, DIA + 0.60%, IWM + 0.61%, QQQ + 0.75%.
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 this Week: ADBE,
Q2 Earnings Reactions
Positive Reactions – LULU,
PANW, ULTA, MFRM, 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% - ULTA,
LULU, PANW, MFRM, SPLK, TWTR, CMG, BIDU, BIIB, ISRG, LNKD, OSTK, SWI, SFUN,
SSYS, SUNE, UA, VRSN, X
Negative Reactions – KKD, CIEN, 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 – KKD, BBY, TSL, BBBY, BZH, BBBY, CELG, DNKN, ETFC, KLAC, NFLX, RAX,
SLCA, UPL, YELP, YHOO, APOL, KBH, MON,
The SPY Market Forecast green line is at 87.
____________________
Setups
Horizontal Breakout: CSIQ,
EMC, NTES, PANW, STI, SWI, V, ZION, BIDU, COST, DTV, FB, INTC, MSFT, MYL, QCOM,
WFM,
Diagonal Breakout: AAL,
BX, DAL, IWM, SOHU, SUNE, VRSN, AAPL, CELG, CTSH, EBAY, EXPE, GILD, GOOG, MU, TRIP,
Bull Flag: BBRY, GME, GPRO,
CMCSA,
Potential Bullish
Divergence:
Gap Up:
Gap Down:
Bear Flag:
At Support: YOKU,
C- Pattern:
Moves
New Highs: SPY, AIG, C,
FAS, MS, RCL, SCHW, SWKS, AKAM, AVGO, BRCM, FFIV, GMCR, MAR, TXN,
H Breakout: AIG, FAS,
GOGO, SWKS, ZU, ADSK, CTXS, SNDK, TXN,
D Breakout: IBM, JD, NKE, CREE, LVS, ESRX,
Bull Flag Bounce:
Gap Up: LVS, WYNN,
Gap Down:
Bounce: KKD, SFUN, UAL,
CIEN, ADBE, WDC,
MACD Divergence Bounce:
JD,
C- Pattern:
Bear Flag:
Support Break:
______________________
86 of 100 NDX stocks
closed higher on Thursday and one was
unchanged.
Leading NDX 100 stocks included: BIDU, AKAM, NXPI, VRTX, SNDK, WYNN, AVGO,
TRIP, GILD, PCLN, WDC, FFIV, CTXS
Lagging NDX stocks included: DISH, YHOO, BBBY, VIP, CMCSA
Leading stocks > +2% on Thursday
included: JD, GOGO,
SWKS, KKD, FAS, C
Lagging stocks < -2.0% included:
MBLY, FEYE, LOCO, YY, BBRY, KNDI
Stocks to Watch on Friday
Holding Above 30 DMA= 68
INTC,
SYMC, SBAC, NTAP, COST, BBBY, CERN, AMGN, CTXS, FFIV, ISRG, YHOO, MSFT, ADP,
CTRX, MNST, ROST, CHKP, MAR, PAYX, FISV, SIRI, VRSK, AKAM, AVGO, DISH, KLAC,
LMCA, ALTR, AMAT, BRCM, TXN, FAST, NXPI, SNDK, GMCR, CMCSA, DTV, KRFT, VTX,
SPLS, CHTR, DLTR, EXPD, QCOM, INTU, AAPL, CSCO, LBTYA, ADSK, CA, CELG, ESRX, FB,
GILD, GOOG, ILMN, MXIM, MYL, ORLY, REGN, XLNX, BIDU, CHRW, LLTC, MU, SIAL, WFM
Moving Above 30 DMA = 6
EQIX, MDLZ, NVDA, VIAB
Moving Below 30 DMA = 0
Staying Below 30 DMA
CTRX, EXPE, KRFT, ADBE, AMZN, ATVI, FOXA, LINTA, NFLX, STX, TRIP, TSLA,
VIP, ALXN, HSIC, EBAY, SBUX, SRCL, TSCO, DISCA, MAT, ADI, VOD, BIIB, WDC, GRMN,
PCLN, PCAR, CTSH, WYNN
Sixteen Week
Intermediate Term Market Trend: Up
3-Day Short Term Market Trend: Up
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