One of nine sectors
moved higher on Friday…the
strongest sectors were XLK…XLI…and XLP…the weakest sector was XLE.
Breadth weakened as
decliners led
advancers 1.87 to 1 on the NYSE and
1.50 to 1 on
the NASDAQ.
Friday – weakened, decliners led
Thursday – strengthened,
advancers led
Wednesday – weakened,
decliners led
Tuesday – weakened,
advancers led
Monday – weakened,
advancers led
SPY up .18 at 212.48 on 89 million shares
VIX down .16 at 11.95…
TNX down .03 at 23.49…
TLT up .61 at 118.72…
XLF down .07 at 25.39 on 18.1 million shares
AAPL up 1.11 at 129.62 on 46.1
million shares
FB up 4.12 at 94.97 on 54 million
shares, double average volume
Technical Commentary:
QQQ +1.47%,
SPY +0.08%, DIA – 0.29%, IWM -0.44%.
The NDX gained more than 5% this
week led by
huge positive earnings reactions on GOOGL and NFLX. The SPX gained about 2.4% as money
center banks JPM, WFC, C and BAC all had positive earnings
reactions. SCHW and USB also had positive earning reactions. The RUT small caps was the laggard
gaining just 1.2% for the week.
The lesson from this week is a continuation of what we saw
two weeks ago with NKE and MU earnings. Have good numbers and guidance: Big Money
still has money to buy. Bad numbers: Big Money will sell.
It does appear with the Chinese buyout offer that
happened on Monday, though unrealistically low, that investors have started to
accumulate MU again and it may be poised to breakout and reverse its
recent downtrend.
The broad market also benefited from the resolution of Greece’s
current debt payment default this week.
This removed some of the event uncertainty of what if Greece would not
receive additional bailout help.
Earnings season continue with IBM,
MS, MSFT, YHOO, AAPL, BA, KO, AMZN, MCD, SBUX, UA and AAL as some of the bigger names
reporting.
Trade with the trend of
the chart you are trading and
continue to move your profit protection stops. Continue to follow your rules.
Earnings Week of July 13
Monday – EXAS, HAL, HAS, IBM, MS, ZION
Tuesday – BHI, CMG, GPRO, HOG, ILMN,
IBKR, LLTC, MSFT, SKX, TRV, VZ, VMW, YHOO,
Wednesday – ALTR, AXP, AAPL, BA,
CHKP, KO, FFIV, FTNT, LVS, QCOM, RCL, SNDK, TSCO, XLNX,
Thursday – MMM, AMZN, CA, CMCSA,
DOW, ETFC, FCX, FSL, GM, GIMO, JNPR, KLAC, MCD, NDAQ, OSTK, P, PHM, LUV, SBUX, TRIP, UA, UNP, UAL, VRSN, V,
Friday – AAL, BIIB, SAVE, STT,
Q1 Earnings Reaction
Positive Reactions – GOOG, GOOGL, HTZ, HON, GE, NFLX, SCHW, EBAY, C, USB, DAL,
BAC, WFC, JPM, NKE, AA
More than 10% - GOOG, GOOGL, HTZ, NFLX,
Negative Reactions – STI, UNH, MAT, KEY, YUM, FAST,
CUDA, MU
More than -10% - CUDA, MU
Reversal in progress –
Reversal of Initial
Reaction –
Short-term Chart Targets:
SPY = 212.59, 214.90...
QQQ = 114.41, 116.43…
Etc. = 125.63, 128.55 ...
Support Levels
SPY = 210.78, 208.94...
QQQ = 111.13, 110.00…
Etc. = 124.75, 123.37 .. .
The SPX Market Forecast is moving up and is at 80.
___________________
Setups
Horizontal Breakout: CIEN,
EXPE, GME, GPRO, MS, NTES, SPLK, SUM, UNG, MFRM, AAPL, BRCM, COST, EA, MSFT,
TSLA, YHOO,
Diagonal Breakout: Z,
Bull Flag: JCP, ESRX, MNST
At Support: AA,
C- Pattern: SWKS, GT
Moves
New Highs: SPY, QQQ,
BAC, C, MBLY, V, AMZN, EBAY, FB, GOOGL, ILMN,
H Breakout: DAL, IBM,
JD, CMGE, BIDU, TRIP,
D Breakout: YOKU, YY
Bull Flag Bounce: UA,
MACD Divergence Bounce:
HABT, SHAK,
Bounce: SHOP, W, ANGI, MTW,
Gap Up: LNKD, BIDU, FB,
PCLN,
Gap Down: ZION, BBY,
C- Pattern: GPRO, AMBA, JD, GS, ESPR, AER, AKAM
Support Break: SLCA, LOCO,
______________________
Watch List Stocks
Leading stocks > +2% on Friday: SHOP, HABT, SHAK, YOKU, W, JD, AMBA,
GPRO, BABA, UA, YY, SOHU
Lagging stocks < -2.0% included: DGLY, SLCA, ATI, ZION, AXTA, TSL, ASNA
36 of100
NDX stocks closed higher on Friday
and one was unchanged.
Leading NDX 100 stocks included: GOOG, FB, BIDU, ILMN, TSLA, PCLN, MU, YHOO,
AMZN, CHTR
Lagging NDX stocks included: DISCA, SPLS, MAT, WYNN, SRCL, BBBY, VIAB,
PCAR, INTC, SBAC
NDX Stocks to Watch on
Monday
Moving Above 30 DMA = 0
Moving Below 30 DMA = 3
ADP, DISCA, WYNN
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market Trend: Up
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