All nine sectors moved
lower on Friday…XLV, XLE and XLK were the strongest sectors and
XLU was the weakest.
Breadth weakened as decliners led advancers 2.30 to 1 on
the NYSE and 1.53 to 1 on the NASDAQ.
Friday – weakened,
decliners led
Thursday – strengthened,
advancers led
Wednesday –
strengthened, advancers led
Tuesday – weakened,
decliners led
Monday – strengthened,
advancers led
SPY down 1.27 at 205.83 on 143.6 million shares
VIX up .58 at 16.00…
TNX up .16 at 21.12…
TLT down .39 at 126.72...
XLF down .17 at 24.32 on 32.7 million shares, above average volume
AAPL down .86 at 123.59 on 51.6 million shares
FB down .88 at 78.05…on 18.4 million shares, below average volume
Technical Commentary:
IWM -0.36%, QQQ
-0.43%, SPY -0.61%, DIA
-0.79%.
The SPX pulls back to support and
bounces to close on Friday at Thursday’s large white candle S1 level. The SPX, DJI and NDX each closed lower
for the week but above Wednesday’s low. In contrast the RUT closed 1.2% higher for the week and was the strongest
broad index each day Tuesday through Friday.
IWM, LOCO, MS, SUNE, VSLR, XONE, P, AAL,
AKAM, MAR, MU, MYL, ROST, SBUX, SNDK, AMBA, BBY, C, DAL, ETFC, EXPE, FAS, GME, JASO,
JCP, MTW, PANW, RAX, SCSS, SPLK, STI, SWKS, TLT, UA, UAL, VJET, VXX, ZION closed higher
for the week on Friday.
GPRO formed a dragonfly doji on weekly
chart.
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 = 206.26, 208.97...
QQQ = 107.57, 108.94…
IWM = 121.41, 122.92…
Support Levels
SPY = 205.05, 204.13,
203.35, 200.94...
QQQ = 105.73, 104.59,
103.44…
IWM = 120.19, 119.08,
117.97...
Earnings this Week
CTRP, NKE, XONE,
Q4 Earnings Reaction
Positive Reactions – AVGO, CRM, MNST, ROST, ADSK, GOGO, SPWR,
ESRX, CMCSA, ANGI, CAR, INTU, JWN, RAX, MAR, NEM, PCLN, Z, TRIP, FEYE,
CSCO, NVDA, AKAM, WFM, Z, EEFT, TMH, CTLT, SKX, NTES, WCG, 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% - AVGO, MNST, CRM, SPWR, ANGI, UPL,
TRIP, FEYE, EEFT, TMH, MLM, SEE, LNKD, TWTR, UBNT, ONNN, AMZN,
BIIB, NFLX, FSL, EA, TUP, X
Negative Reactions – JCP, SPLK, LL, LC, HPQ, SCTY, ZU, ZNGA,
NTAP, BIDU, TSLA, HSIC, KRFT, SFUN, SOHU, 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% - LL, LC, TPX, ZU, ZNGA, EXPE,
GPRO, YELP, P, TPX, QCOM, FFIV, KBH,
Reversal in progress – ZNGA, AAL, AXP, BAC, BIDU, CHRW, FFIV,
GILD, ISRG, JNJ, KBH, KLAC, MSFT, NTAP, SOHU, STX
Reversal of Initial Reaction – AA, ALTR, ATML, C, BAC, IBM, KBH,
KSU, MCD, FOXA, GMCR, HSIC, JDSU, JPM, KSU, PCAR, QCOM, SFUN, SRCL, SYMC, WYNN,
XLNX, STT, TPX, TSLA,WDC, VRTX, WFC, ZION
The SPX Market Forecast is at 54.
___________________
Setups
Horizontal Breakout: IWM,
AMBA, ETFC, FAS, GOGO, JASO, JDSU, MS, RAX, STI, SUNE, UA, UAL, VSLR, YELP
Diagonal Breakout: EXPE,
UPL, V, X, Z,
Bull Flag: CIEN, CMGE, CREE, CRM, CSIQ, FEYE, FSLR, JD,
JUNO, RCL, SCHW, SPLK, SPWR, TSL, TWTR, UBNT,
Potential Bullish
Divergence: NTES, YOKU
Bear Flag: GPRO, TLT,
At Support: DDD, EMC, ESI, GLW, HPQ, LC, LVS, SLCA, SOHU, SWI, UNG, X
Moves
New Highs: AMBA, SWKS
Breakout Test: BBY, C, DIS, SCSS, VJET, ZION,
Bull Flag Bounce: GME,
SPY,
Bounce: JCP, KKD,
MACD Divergence Bounce:
GPRO,
Gap Up: LOCO
Support Break: CAR, HOG, LNKD, SCTY,
______________________
28 out of 100 NDX stocks
closed higher on Friday.
Leading NDX 100 stocks included: NXPI, MU, AMAT, BIIB, LRCX, DLTR, INTU, AAL,
REGN, MSFT
Lagging NDX stocks included: MYL, PCLN, MAT, VIAB, NFLX, TRIP, MNST, VIP,
FOXA, NTAP
Leading stocks > +2% on Friday:
LOCO, XONE, GME, JCP, YOKU, VXX, TSL
Lagging stocks < -2.0% included:
ATI, SLCA, DGLY, CMGE, X, HOG, CTRP,
CAR, VSLR, LNKD, SSYS, SCTY, ESI, FEYE, LC, IBM, Z, SCHW, DDD, FAS, MS
Stocks to Watch on
Monday
Holding Above 30 DMA = 45
MNST,
CTSH, NXPI, SIRI, ATVI, BIIB, DLTR, VRSK, COST, GOOG, EXPD, VIP, LBTYA, LMCA,
NVDA, ROST, ADBE, CHTR, CMCSA, PAYX, ADI, AKAM, ADSK, AVGO, INTU, MAR, PCLN,
LVNTA, TRIP, CHKP, DISCA, EBAY, SRCL, VRTX, CHRW, GMCR, SNDK, EQIX, REGN, MYL,
ORLY, CERN, FB, SBUX, TSCO
Moving Above 30 DMA = 2
AAL, AMAT
Moving Below 30 DMA = 8
AMZN, BRCM, FISV, FOXA,
SBAC, SIAL, TXN, VIAB
Staying Below 30 DMA
QCOM, AAPL, ALXN, CSCO, ALTR, CA, DISH, DTV, EA, LLTC, LRCX, NTAP, WFM,
XLNX,AMAT, AMGN, BIDU, CELG, ESRX, GILD, ILMN, MDLZ, NFLX, WDC, ADP, CTXS,
PCAR, HSIC, KLAC, MSFT, MU, SPLS, STX, TSLA, CTRX, SYMC, AAL, BBBY, ISRG, VOD,
WYNN, GRMN, KRFT, YHOO, FAST, INTC, MAT
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market Trend: Neutral
3-day Short Term Market Trend: Neutral
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