All nine sectors moved
lower on Friday…XLV, XLY and XLP were the strongest sectors and XLF
was the weakest.
Breadth weakened as decliners led advancers 1.43 to 1 on
the NYSE and 1.16 to 1 on
the NASDAQ.
Friday – weakened, decliners led
Thursday – strengthened,
advancers led
Wednesday – weakened,
mixed
Tuesday – strengthened,
advancers led
Monday – weakened,
decliners led
SPY down 0.93 at 210.81 on 130.5 million shares, 36% above average
VIX up .77 at 13.96…
TNX down .84 at 22.67…
TLT up 1.51 at 119.08…
XLF down .53 at 24.74 on 38.2 million shares, 30% above average volume
AAPL down 1.28 at 126.60 on 54.7
million shares, 33% above average volume
FB down .40 at 82.51 on 23.3 million shares, 18% above average volume
Technical Commentary:
IWM -0.05%, SPY
-0.44%, DIA -0.60%, QQQ
-0.72%.
The SPY declared 1.03007, DIA declared
0.48025 and QQQ declared 0.25416 cash dividends on Friday.
IWM, SPY, QQQ and DIA closed lower on
Friday and higher for the week.
IWM which made a new high on Thursday breaking out of horizontal
resistance, closed near unchanged and held above the S1 level of Thursday’s
large white candle. This is a
bullish indication that trend
continuation is most probable.
SEDG, SPLK, CYBR, CCL were among weekly gainers that
rose on Friday.
(click image to enlarge)
Other weekly gainers included: W, Z, SWKS, SCTY, PANW, RCL, MBLY, NKE, QIHU, UBNT and AMBA.
AMBA -7.35, -5.80% moved lower following “ridiculous” comments from a short-seller.
AMBA -7.35, -5.80% moved lower following “ridiculous” comments from a short-seller.
In a Sep
23, 2012 comment this same source used the same “ridiculous” word
describing Z (Zillow) at 45.28.
In Sep 2013, Z reached 100 and by July 2014 Z hit 158. Is it possible that “ridiculous” is code for the stock will
more than triple within 22 months?
Similar shock
and awe tactics were used on TSLA in 2013 after the stock exceeded 100
for the first time in May of 2013.
Following swift pullbacks on negative comments, TSLA rose to more than 190 within
four months in Sep 2013. TSLA later
reached 260 in Feb 2014 less than 10 months after exceeding 100 for the first
time.
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 = 212.67, 213.78...
QQQ = 110.81, 111.16…
IWM = 127.13, 128.15…
Support Levels
SPY = 208.62, 206.76...
QQQ = 108.63, 106.80…
IWM = 123.94, 122.52...
The SPX Market Forecast is turned up at 51.
___________________
Setups
Horizontal Breakout: RCL,
SUNE, SWKS, TASR, AMZN, CELG, CMCSA, FB, GOOGL, INTC, LRCX, TXN,
Diagonal Breakout: CTRP,
IBM, JD, SFUN, SVXY, Z, ZNGA, SHAK
Bull Flag: AIG, BAC, C, CYBR, ETFC, FAS, FEYE, GPRO,
MBLY, NTES, OCN, QIHU, SHOP, SINA, STI, TPX, TSL
Moves
New Highs: CCL, PANW,
SPLK, W, EA, TRIP, TSLA,
H Breakout: SEDG
Bounce: SUM,
HABT
______________________
Watch List Stocks
Leading stocks > +2% on Friday:
SEDG, Z, SUM, SONC, JCP, UBNT
Lagging stocks < -2.0% included: YY, SFUN, AMBA, CTRP, KNDI, DGLY, SPWR,
JD, CSIQ, SOHU, TBT, FAS, QIHU, KWEB, JNPR
29 of 100
NDX stocks closed higher on Friday.
Leading NDX 100 stocks included: AAL, FISV, BIIB, EA, WBA, EBAY, ROST, GRMN,
TXN
Lagging NDX stocks included: VIP, WYNN, SNDK, DISH, XLNX, SYMC, WDC, STX,
AKAM, MSFT
NDX Stocks to Watch on
Monday
Moving Above 30 DMA = 1
NTAP
Moving Below 30 DMA = 8
BBBY, CSCO, INTU, ISRG,
MYL, SPLS, SYMC, XLNX
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market Trend: Up
1 comment:
Happy Father's Day Dave! Thank you for all you do for your extended trading family.
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