Three sectors moved
higher on Friday…the strongest sectors were XLU, XLF and XLK…the weakest sector was XLE. Oil moved lower at closed at 43.75, its
lowest close since March 17.
Breadth strengthened as decliners led
advancers 1.43
to 1 on the NYSE and 1.34 to 1 on the NASDAQ.
Friday – strengthened, decliners led
Thursday – weakened,
decliners led
Wednesday –
strengthened, mixed
Tuesday – strengthened,
decliners led
Monday – weakened,
decliners led
SPY down .40 at 207.95 on 117.85 million shares
VIX down .38 at 13.39…
TNX down .59 at 21.75…
TLT up 1.61 at 124.34…
XLF up .05 at 25.20…
AAPL up .39 at 115.52 on 38.6
million shares
FB down .82 at 94.30 on 23.1 million
shares
Technical Commentary:
QQQ -0.13%, SPY -0.19%, DIA -0.22%, IWM
-0.67%.
SPY, QQQ, IWM and DIA all moved back to their
multi-week support areas this week. SPY,
QQQ, DIA and IWM each formed a bullish hammer candle on Friday.
PCLN, VMC, CTRP, EXPE and WETF which
had positive earnings reactions are now forming bull flag patterns.
SHAK +6.98, +10.79% bounced in a bull
flag pattern 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.
Earnings week of Aug
10
VSLR, CYBR, CREE, FOGO, JASO, RAX, XONE, BABA, JUNO, JCP, SINA,
VJET, YY, W, NTES
Q1 Earnings Reaction
Positive Reactions – CAR, CTRP, HLF, KBR, MGM, MNST, NUS,
NVDA, PCLN, VMC, ZU, EXPE, CCE, MOH, YRCW, WAGE, COLM, RCL, WETF, TPX, WU, AEE, FE, PKI, TUC,
AMGN, VLO, UHS, WDC, AEL, ALGT, EEFT, GILD, JBLU, SHOP, SKX, X, SSNC, BWLD,
PODD, SVU, NUVA, SCTY, ULTI, WYNN, CTRP, FISV, SLCA, SPWR, NCLH, AMZN, P, MXIM, JNPR, V, SBUX,
LUV, QLIK, SNDK, TXN, UA, WHR, GM, VRSN, CHKP, FFIV, FTNT, LVS, PKG, TMO, TSCO,
VMW, ACE, APH, OC, BA, CHKP, IPG, CLI, CMG, LVS, MANH, TRV, VMW, LAD, HOG, WWW,
ZION, HAS, HAL, GOOG, HTZ, HON, GE, NFLX, SCHW, EBAY, C, USB, DAL, BAC,
WFC, JPM, NKE, AA
More than 10% - FSLR, HLF, NUS, NVDA, ZU, EXPE, CCE, MOH, YRCW,
WAGE, COLM, SHOP, SKX, X, SSYS, BWLD, SVU, P, FTNT, SNDK, GOOG, GOOGL, HTZ,
NFLX
Negative Reactions – AIG, ALL, AXTA, DIS, ETSY, GMCR,
GOGO, HABT, NCLH, JD, SEDG, TSLA, UBNT, Z, LNKD, FEYE, OCN, ESI, FB, MAR, SSYS,
TWTR, YNDX, YELP, BIDU, BIIB, TRIP, STT, AAL, FSL, KLAC, MCD, UNP, SAVE,
CELG, CA, CMCSA, ETFC, CAT, DOW, FCX, MMM, OSTK, IBM, KO, QCOM, AXP, AAPL,
IBKR, ILMN, XLNX, VZ, BEAV, BHI, LLTC, MSFT, YHOO, EXAS, STI, UNH, MAT,
KEY, YUM, FAST, CUDA, MU
More than -10% - ALL, ETSY, FIT, GMCR, HABT, SEDG, SUNE, LNKD, OCN, ESI, WFM,
TWTR, YELP, BIDU, BIIB, TRIP, GIMO, SCSS, BEAV, SWI, CUDA, MU
Reversal in progress –
LAD,
Reversal of Initial
Reaction – HTZ, HON,
GE, AA,
Short-term Chart Targets:
SPY = 211.45, 212.55...
QQQ = 113.17, 114.39…
IWM = 123.71, 125.09…
Support Levels
SPY = 210.82, 206.80...
QQQ = 110.62, 109.78…
IWM = 121.01, 120.27...
The SPX Market Forecast is turned down at 52 defensive.
__________________
Setups
Horizontal Breakout: FSLR,
HOG, LVS, X,
Diagonal Breakout:
BAC, FAS, GPRO, JNPR, MBLY, NCLH, PYPL,
Bull Flag: AMBA, CCL, CTRP, DAL, EXPE, NKE, P, SCHW, SHOP,
SOHU, SONC, SUM, SVXY, UA, V, VRSN,
Potential Bullish
Divergence: BX, GME, SEDG, SPY
At Support: FIT, IWM, JD, PANW, QIHU, SCTY, SEDG, SPLK, SPWR, STI
Moves
New Highs: RCL, TPX,
H Breakout: TBT
Bull Flag Bounce: RCL,
SHAK
Support Break: HPQ,
IBM, TBT
______________________
Watch List Stocks
Leading stocks > +2% on Friday: SHAK, DEPO, SEDG, SWKS
Lagging stocks < -2.0% included: ACAD, SUNE, SCTY, FIT, JCP, SHOP, CSIQ,
SOHU, CTRP, KR
50 of 100
NDX stocks closed higher on Friday.
Leading NDX 100 stocks included: NVDA, FOX, VIAB, MNST, SWKS, WYNN, ISRG
Lagging NDX stocks included: STX, CERN, PCLN, BIIB, TRIP, NFLX, JD, AAL,
KHC, ESRX, MU
NDX Stocks to Watch on
Monday
Moving Above 30 DMA = 2
INTU, WYNN
Moving Below 30 DMA = 1
DISH
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market Trend: Neutral/Down
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