Two of nine sectors
moved higher on Friday…XLF, XLE and XLY were the strongest sectors and
XLU was the weakest.
Breadth weakened as advancers led
decliners 1.71 to 1 on the NYSE and 1.15 to 1 on
the NASDAQ.
Friday – weakened, decliners led
Thursday – strengthened,
advancers led
Wednesday – weakened,
decliners led
Tuesday – strengthened,
advancers led
Monday – strengthened,
advancers led
SPY down .57 at 205.55 on 125.6 million shares
VIX up .44 at 17.29…
TNX up 1.23 at 19.38…
TLT down 2.36 at 130.96...
XLF up .19 at 24.14 on 67.6 million shares
AAPL down 1.01 at 118.93 on 43.7 million shares
FB down 1.14 at 74.47…on 21.2 million shares
Technical Commentary:
IWM -0.11%, DIA
-0.26%, SPY -0.28%, QQQ
-0.61%.
A strong Jobs Report of 257,000 new
jobs in January, ahead of forecasts of 230,000 set a positive tone for stocks on the open. However when S&P downgraded Greece’s debt
rating, the broad indices turned lower and closed down for the day.
The
financial sector and earnings reactions is where the real action was on
Friday. Sector ETFs XLF and FAS
along with individual stocks BAC, C, JPM, WFC, STI, ZION, MS, GS, ETFC
and SCHW all gained
on rising volume.
LNKD, TWTR, UBNT and ONNN gapped higher on strong earnings
reactions and finished Friday with big gains on rising volume.
Inversely,
YELP, GPRO, P, EXPE and TPX gapped lower on negative earnings reactions
and finished Friday with big losses on heavy volume.
The SPX is a horizontal resistance
and poised for a potential
breakout. The fact that XLF broke out of resistance and held
that breakout on Friday’s close increases the potential for an SPX breakout next week. Trade what actually occurs according to your
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 Chart Targets:
SPY = 206.42, 208.97...
QQQ = 103.17, 104.58…
IWM = 119.45, 120.82, 121.41…
Support Levels
SPY = 203.66, 202.51, 201.62...
QQQ = 102.10, 101.65, 100.48…
IWM = 1117.38, 116.57,
115.32...
Earnings this week:
Monday: NTES, SOHU
Tuesday: AKAM, CERN,
HSIC, REGN, SFUN, TRIP
Wednesday: AMAT, BIDU, FEYE,
NTAP, SCSS, TSLA, WFM, Z, ZU
Thursday: JD, KRFT, ZNGA
Friday:
Q4 Earnings Reaction
Positive Reactions – ADP,
ATVI, CTSH, FISV, ONNN, ORLY, SIRI, UA, VRSN, AMZN, AAPL, ALXN,
BRCM, BX, CAVM, CELG, EA, FB, FSL, GLW, HOG, JNPR, TSCO, TSS, TUP, VIAB, WDC,
X, NFLX, ALK, BHI, CREE, DAL, EBAY, ETFC, GE, HON, KMB, LUV, MXIM, SBUX,
SWKS, TRV, UAL, UNH, UNP, SNX, LLTC, TSM
More than 10% - LNKD, TWTR, UBNT, ONNN, AMZN, BIIB, NFLX, FSL,
EA, TUP, X
Negative Reactions – ATML,
CHRW, FOXA, GILD, GMCR, SRCL, SYMC, WYNN, QCOM, JDSU, RCL, BABA, PCAR, YHOO, MSFT,
STX, VRTX, AAL, ZION, AXP, ALTR, FFIV, IBM, ISRG, JNJ, KLAC, KSU, MCD,
STT, XLNX, AA, BAC, C, JPM, KBH, WFC,
More than -10% - EXPE, GPRO, YELP, P, TPX, QCOM, FFIV, KBH,
Reversal in progress – AXP, ISRG, JNJ, JPM, QCOM, STT,
Reversal of Initial Reaction – AA, BAC, C, IBM, KBH, KSU, MCD, WFC,
ZION
The SPX Market Forecast rising at 58.
___________________
Setups
Horizontal Breakout: SPY,
AIG, ATI, C, CAR, CRM, HPQ, JNPR, LC, MFRM, MS, RAX, SPLK, SPWR, SWI, SUNE
Bull Flag: SWKS, BX, CSIQ, FSLR, LOCO, X, NFLX
Bear Flag: SSYS
Moves
New Highs: ETFC,
H Breakout: XLF, KKD,
QIHU
Breakout Test: IWM, UPL, BRCM, AA, JCP
Gap Up: LNKD, TWTR, ONNN, UBNT, STI, ZION, BBY, SCHW, VRSN,
Gap Down: P, YELP, EXPE, TPX, GPRO, GLD
Bear Flag: MU
______________________
31 out of 100 NDX stocks
closed higher on Friday.
Leading NDX 100 stocks included: NXPI, GMCR, DISCA, FOXA, ADSK, ATVI, VIAB,
AMAT, CERN, AKAM
Lagging NDX stocks included: SYMC, LVNTA, INTU, SRCL, TRIP, EQIX, VRTX,
GILD, SPLS, QCOM
Leading stocks > +2% on Friday:
TWTR, UBNT, LNKD, SFUN, KKD, VRSN, SCHW, BBY, BAC, GOGO, MS, SPLK, SUNE, STI,
QIHU
Lagging stocks < -2.0% included:
YELP, P, GPRO, EXPE, TPX, AMBA, NTES,
RWLK, CTRP, AA, UAL, GLD, Z, SOHU, MBLY
Stocks to Watch on Monday
Holding Above 30 DMA = 51
WFM, SIAL, KRFT, MNST, CTSH, FISV, NXPI, SIRI, ATVI,
BIIB, CERN, EA, NFLX, VOD, ILMN, SBAC, SBUX, AMZN, DLTR, TSCO, VRSK, AAPL,
COST, GOOG, BBBY, CTRX, DISH, EXPD, GRMN, ORLY, TSLA, VIP, ADP, AVGO, BRCM, CA,
CTXS, DTV, LBTYA, LMCA, NVDA, ROST, TXN, ADBE, CHTR, CMCSA, HSIC, PAYX, ADI, CELG, LLTC
Moving Above 30 DMA = 2
AKAM, AMAT
Moving Below 30 DMA = 6
EQIX, INTU, LVNTA, REGN,
SRCL, SYMC
Staying Below 30 DMA
CHRW, GILD, SPLS, WYNN, ALXN, AAL, FB, LRCX, VRTX, BIDU, CHKP, MAR, MYL,
CSCO, EBAY, ESRX, MSFT, YHOO, FAST, GMCR, INTC, ISRG, KLAC, MDLZ, WDC, QCOM,
STX, TRIP, DISCA, FOXA, PCAR, PCLN,VIAB, ADSK, MAT, MU, ALTR, NTAP,SNDK, AMGN,
XLNX
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market Trend: Up
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