All nine sectors moved
lower on Friday…XLP, XLF and XLY were the strongest sectors and XLV
was the weakest.
Breadth weakened as decliners led advancers
1.81 to 1 on the NYSE and 1.38 to 1 on the NASDAQ.
Friday – weakened, decliners led
Thursday – weakened,
advancers led
Wednesday –
strengthened, advancers led
Tuesday – strengthened,
decliners led
Monday – weakened,
decliners led
SPY down 1.62 at 210.01 on 135.3 million shares, 49% above average
volume
VIX up .97 at 13.78…
TNX up .02 at 23.85…
TLT unchanged at 117.95…
XLF down .11 at 25.04 on 34.2 million shares, 25% above average volume
AAPL down 1.42 at 127.17 on 36.8
million shares, 15% below average volume
FB down .30 at 81.53
on 11.4 million shares,
43% below average volume
Technical Commentary:
IWM -0.30%, SPY
-0.77%, QQQ -0.82%, DIA
-0.84%.
SPY, QQQ and DIA form evening
star candle pattern in sideways triangle channel on Friday. IWM forms a dragonfly doji in a bull
flag pattern.
(click image to enlarge)
IWM, SPY and DIA closed higher for the week and QQQ closed lower.
Financials paused on Friday while continuing
to among the leading stocks.
AMBA +6.66,
+5.97% continued
to rise on 128% above average volume, a new all-time closing high of
118.16. SFUN +0.80,
+8.74%, SINA +2.30, +8.74%, MBLY +1.09, +2.16% closed higher for the week.
(click image to enlarge)
WING (Wingstop) closed at 30.59 after
completing its IPO at 19 on Friday. WING joins SHAK, HABT and BOJA as
recent restaurant IPOs.
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 = 125.93, 127.13…
Support Levels
SPY = 208.62, 206.76...
QQQ = 108.63, 106.80…
IWM = 123.03, 122.52...
The SPX Market Forecast is turned up as 37.
___________________
Setups
Horizontal Breakout: CCL,
CSIQ, JASO, JNPR, NTES, SCHW, SONC, TSL, UA, UBNT, YOKU,
Diagonal Breakout: SPWR,
ZNGA
Bull Flag: IWM, BAC, C, ETFC, FAS, GPRO, JUNO, MS,
NKE, RCL, SEDG, STI, SUNE, SVXY, TASR, ZION
Bear Flag: BX, TLT,
At Support: HPQ, X
Moves
New Highs: AMBA, CIEN,
FEYE, JD, MBLY, NTES, PANW, QIHU, SFUN, SINA, SOHU, TPX, YY,
H Breakout: CIEN, SOHU,
D Breakout: GOGO
Bull Flag Bounce: CYBR
Bear Flag: IBM
______________________
Watch List Stocks
Leading stocks > +2% on Friday:
SFUN, YY, CYBR, AMBA, SINA, JD, QIHU, GPRO, SOHU, MBLY
Lagging stocks < -2.0% included: SEDG, SLCA, Z, TASR, DGLY, CHAK, JUNO, UNG
19 of 100
NDX stocks closed higher on Friday.
Leading NDX 100 stocks included: CTXS, AAL, MNST, SIAL, MU
Lagging NDX stocks included: NVDA, GRMN, REGN, MAT, INTC, WYNN, VRTX, WDC,
VIAB, LLTC
NDX Stocks to Watch on
Monday
Moving Above 30 DMA = 1
SIAL
Moving Below 30 DMA = 15
BIIB, CHRW, CTSH, DISCA,
GRMN, ISRG, MAT, NVDA, NXPI, PCAR, REGN, SPLS, SRCL, VIAB, VRTX
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market Trend: Up
