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
______________________
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
