Eight sectors moved
higher on Thursday and one moved lower…the strongest sectors were XLU…XLK…and
XLP…the weakest sector was XLB.
Breadth strengthened
as advancers
led decliners 2.26 to 1 on the NYSE and
1.91 to 1 on
the NASDAQ.
Thursday – strengthened, advancers led
Wednesday – weakened,
decliners led
Tuesday – weakened,
advancers led
Monday – weakened,
advancers led
Friday – strengthened,
advancers led
SPY up 1.69 at 212.30 on106.6 million shares
VIX down 1.12 at 12.11…
TNX up .02 at 23.52…
TLT up .81 at 118.11…
XLF up .25 at 25.46 on 32.3 million shares
AAPL up 1.69 at 128.51 on 36.1
million shares
FB up 1.09 at 90.85 on 21.7 million
shares
Technical Commentary:
QQQ +1.41%,
SPY +0.80%, IWM +0.60%, DIA +0.40%.
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
Tuesday – CSX, FAST, JNJ, JPM, WFC,
YUM
Wednesday – BAC, DAL, INTC, NFLX,
USB
Thursday – C, EBAY, GOOGL, GS, KEY,
MAT, SCHW, SLB, UNH
Friday – GE, HON, STI
Q1 Earnings Reaction
Positive Reactions – NKE, AA
More than 10% -
Negative Reactions – CUDA, MU
More than -10% - CUDA, MU
Reversal in progress –
Reversal of Initial
Reaction –
Short-term Chart Targets:
SPY = 208.02, 209.16,
209.96...
QQQ = 108.01, 108.86, 109.66…
IWM = 124.51, 125.63…
Support Levels
SPY = 205.76, 204.22...
QQQ = 106.55, 105.75…
IWM = 122.82, 121.53...
The SPX Market Forecast turned up and is at 69.
___________________
Setups
Horizontal Breakout: BAC
(long term), DAL, JD, MBLY (long term), MS, NTES, SPLK, SUNE, BBY, CMGE, MFRM, ESRX,
GOOGL (long term), MAR, MSFT, TRIP,
Diagonal Breakout: EXPE,
LC, QCOM, YHOO,
Bull Flag:
Potential Bullish
Divergence:
Gap Up:
Gap Down:
Bear Flag:
At Support: AXTA, SINA, AA,
C- Pattern:
Moves
New Highs: QQQ, C, FAS,
PANW, RCL, SCHW, V, AMZN, CELG, CMCSA, EBAY, FB, NFLX, WBA,
H Breakout: IBM, TASR,
UBNT, VRSN, WFM,
D Breakout: BX, ETFC, GLW, AVGO,
Breakout Test:
Bull Flag Bounce: GME,
MACD Divergence Bounce:
ATI,
Bounce: ASNA, DGLY, FOGO, SONC,
Gap Up: SPY, QQQ, C, SVXY,
AAPL,
Gap Down: UA, GRMN,
C- Pattern:
Bear Flag:
Support Break: LRCX,
______________________
Watch List Stocks
Leading stocks > +2% on Thursday: SVXY, NTES, JD, TASR, CIEN, C,
FOGO,SCHW,UBNT,TSL, ETFC, DGLY, SFUN, PANW, FAS, EXPE, CSIQ,CTRP, YOKU
Lagging stocks < -2.0% included: VXX, SLCA, UA, X, AXTA, HABT
81 of 100
NDX stocks closed higher on Thursday.
Leading NDX 100 stocks included: NFLX, VIP, MU, GOOG, EBAY, SRCL, AMZN, KHC,
DISCA, CELG
Lagging NDX stocks included: GRMN, KLAC, AMAT, DISH, LRCS, MYL, CHKP, MAT,
NXPI, SPLS
NDX Stocks to Watch on
Friday
Moving Above 30 DMA = 6
ADP, AKAM, BRCM, LBTYA, LVNTA, SRCL
Moving Below 30 DMA = 1
GRMN
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market
Trend: Up
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