Friday, April 10, 2015

SPX Closes Above 2,100 Again...IWM New All-time High Close...

Eight out of nine sectors moved higher and one was unchanged on Friday…XLI, XLV and XLU were the strongest sectors and XLF was the weakest.
 
Breadth strengthened as advancers led decliners 1.46 to 1 on the NYSE and 1.45 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 1.14 at 210.04 on 72.7 million shares, 30% below average volume
VIX down .51 at 12.58…
TNX down .07 at 19.51…
TLT up .19 at 129.62…
XLF unchanged at 24.25 on 14.7 million shares, 46% below average volume

AAPL up .54 at 127.10 on 40.1 million shares, 15% below average volume

FB down .13 at 82.04…on 12.5 million shares, 47% below average volume

Technical Commentary:
SPY +0.55%, DIA +0.54%, IWM +0.48%, QQQ +0.41%.

The SPY and SPX finished with their third highest all-time weekly closing high:  SPY 210.04 and SPX 2,102.06.  IWM 125.62 made a new all-time daily high and weekly high close by one cent, yes one cent.

GE +10.8% gained on news that it would exit the majority of its GE Capital business, sell real estate holdings and implement a stock buyback.  The SPX gain was led by GE and gains in SYMC, CMG, NFLX, ISRG, IP, ALXN, ABBV, ALTR, A, DRI, CAT, VRTX, INTC, LLY and CSC.

The NDX +18.07 was led by point gains in INTC, CSCO, MSFT, AMGN, ALXN, SYMC, NFLX and GILD.


There are many breakout setups on individual stock charts, sector ETFs and the IWM and SPY.  With the weekly strength that stocks demonstrated this week, be alert for breakouts next week.  You should also watch earnings reactions next week on key stocks listed below.

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 = 211.11, 212.71...
QQQ = 109.07
IWM = 125.94, 127.14…

Support Levels
SPY = 208.61, 206.44...
QQQ = 106.82…
IWM = 123.77...


Earnings Week of April 6 – AA, BBBY, WBA, STZ
Earnings Week of April 13 JNJ, JPM, FAST, WFC, INTC, BAC, CSX, DAL, LLTC, SNDK, NFLX, GS, C, AXP, MAT



Q1 Earnings Reaction
Positive Reactions – WBA, STZ, KMX, DGLY, CTRP, JUNO, KBH, MFRM, NKE, 

More than 10% - DGLY, CTRP, JUNO, 

Negative Reactions – AA, BBBY, MU, GME, YOKU, XONE, 

More than -10% - YOKU, 

Reversal in progress 

Reversal of Initial Reaction – GME, MU, YOKU, XONE


The SPX Market Forecast is pointed up at 59.

___________________

Setups
Horizontal Breakout: IWM, SPY, ADBE, AMZN, BIDU, BRCM, CMCSA, ESRX, GILD, MU, PCLN, QCOM, STX, TXN, WYNN, YHOO, AIG, BABA, BBRY, CREE, ETFC, FEYE, JCP, JUNO, LNKD, LOCO, PANW, SCHW, SPLK, SWI, VJET, VSLR, X, XONE,
Diagonal Breakout: AAPL, AKAM, ROST, TRIP, JASO, MFRM, NKE, SPWR, TPX, TSL,
Bull Flag: FB, CCL, CMGE, CRM, QIHU, RCL, TWTR, YOKU  

Moves
New Highs: ALTR, ESRX, MYL, AMBA, BX, EXPE, JD, SUNE, TAN,
H Breakout: XLNX, DDD, GPRO, RAX,
D Breakout: FEYE, SWKS, UBNT,
Breakout Test: SOHU,
Bull Flag Bounce: EA  
Gap Up: NFLX
C- Pattern:  FEYE
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61 out of 100 NDX stocks closed higher on Friday.


Leading NDX 100 stocks included: SYMC, NFLX, ISRG, ALXN, ALTR, VRTX, INTC, WDC, SPLS, STX

Lagging NDX stocks included: VIP, BIDU, GMCR, CTXS, FISV, YHOO, FAST, NTAP, NXPI, SBAC

Leading stocks > +2% on Friday: FEYE, ZNGA, LNKD, GPRO, RAX, SUNE, BX, VSLR, UBNT

Lagging stocks < -2.0% included: DGLY, YOKU, VXX


Stocks to Watch on Monday
Holding Above 30 DMA = 56
MNST, NXPI, LVNTA, SRCL, CERN, FB, SIAL, KRFT, ORLY, ADI, ALTR, EA, EQIX, VRSK, XLNX, CTRX, ESRX, FISV, ISRG, MDLZ, CHTR, LMCA, VIP, CTXS, DISCA, HSIC, TSLA, AKAM, CHKP, MYL, REGN, ADSK, AMGN, AMZN, ATVI, BIDU, BIIB, CMCSA, CTSH, DLTR, DTV, INTU, NFLX, PCLN, SBUX, VRTX, YHOO, AAPL, GILD, NVDA, PCAR, SIRI, SPLS, SYMC, VIAB, WYNN

Moving Above 30 DMA = 7
ADBE, ALXN, BRCM, INTC, STX, TSCO, VOD             

Moving Below 30 DMA = 2
ADP, TXN

Staying Below 30 DMA
BBBY, CA, COST, AVGO, AAL, EXPD, ROST, FAST, PAYX, GOOG, CELG, CHRW, EBAY, FOXA, MAR, MSFT, SBAC, SNDK, TRIP, KLAC, LBTYA, LLTC, ILMN, AMAT, CMGR, QCOM, CSCO, DISH, LRCX, NTAP, WFM, WDC, MU, GRMN, MAT

6-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Up