All nine sectors moved
lower on Friday…All moved
lower…XLE, XLU and XLV were the strongest
sectors and XLI was the weakest.
Breadth weakened as decliners
led advancers 2.21 to 1 on the NYSE and
1.66 to 1 on
the NASDAQ.
Friday – weakened, decliners led
Thursday – weakened,
decliners led
Wednesday –
strengthened, advancers led
Tuesday – weakened,
decliners led
Monday – Memorial Day
SPY down 1.32 at 211.14 on 122.7 million shares
VIX up .53 at 13.84…
TNX down .35 at 20.95…
TLT up .27 at 122.71…
XLF down .22 at 24.60 on 25.4 million shares
AAPL down 1.50 at 130.28 on 50.4
million shares
FB down .95 at 80.14
on 16.1 million shares
Technical Commentary:
IWM – 0.60%,
QQQ -0.60%, SPY –
0.62%, DIA -0.65%.
The SPX settled back in a pennant
pattern on Friday as HUM +20.31% jumps on takeover speculation and
semiconductors continue to trend up. ALTR +4.00%
a take over target by INTC gained on Friday. Semiconductor stocks AVGO, ON, SWKS, INTC,
NXPI, ATML, FSL, BRCM, MXIM and AMBA all moved higher on Friday.
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 = 212.91, 213.91...
QQQ = 110.38, 111.16…
IWM = 124.04, 125.47…
Support Levels
SPY = 208.62, 206.76...
QQQ = 108.76, 106.80, 105.55…
IWM = 122.52, 120.87, 120.24...
The SPX Market Forecast is pointing down at 72.
___________________
Setups
Horizontal Breakout: UA,
INTC (long term),
Diagonal Breakout: SCSS,
Bull Flag: BABA, CRM, CTRP, EXPE, GOGO, NTES, YOKU, ESRX,
ILMN,
Potential Bullish
Divergence: DAVE
At Support: FAS, IBM, SWI, Z, COST, MAR, MNST, PCLN, TRIP, WFM
Moves
New Highs: PANW, AVGO,
EBAY,
H Breakout: LC, UBNT,
MFRM
Bull Flag Bounce: SHAK,
Bounce: DAL, UAL, AAL
Gap Up: GME
Support Break: CCL, SCTY, SPWR, BBRY, MTW, AKAM, GMCR,
______________________
Watch List Stocks
Leading stocks > +2% on Friday:
SHAK, GME, JUNO,
Lagging stocks < -2.0% included: YY, SPLK, GLNG, SFUN, SUNE, CYBR, CSIQ,
QIHU, SCTY, SPWR, FAS, GPRO, YOKU, UNG, SUM, SWI,
23 of 100
NDX stocks closed higher on Friday.
Leading NDX 100 stocks included: ALTR, AVGO, MDLZ, DISCA, LVNTA, SIRI, CHTR,
EBAY, INTC, NXPI
Lagging NDX stocks included: PCAR, FAST, ESRX, WFM, GMCR, WYNN, WDC, ATVI,
SNDK, GRMN
NDX Stocks to Watch on
Monday
Moving Above 30 DMA = 1
LMCA
Moving Below 30 DMA = 10
AMAT, BBBY, BIIB, FAST,
FOXA, GOOG, GRMN, MSFT, ORLY, TSCO
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market Trend: Down
