Five sectors moved
higher on Friday…XLF, XLU, XLP were the strongest
sectors while XLV was the weakest sector.
Breadth was mixed as
decliners led advancers 1.08 to 1 on
the NYSE and 1.94 to 1 on the NASDAQ.
Friday – mixed, decliners led
Thursday – mixed, decliners led
Wednesday – strengthened, decliners
led
Tuesday – weakened, decliners led
Monday – mixed, mixed
SPY down .05 at 192.85 on 155 million shares, below average volume
VIX up 0.15 at 23.62…
TNX up .48 at 21.68…
TLT down 1.06 at 121.54…on
8.3 million shares
XLF up .33 at 22.81…on
45 million shares, below average volume
AAPL down .29 at 114.71 on 56.1 million shares
FB down 1.64 at 92.77 on 28.9 million
shares
Technical Commentary:
DIA +0.62%, SPY -0.03%, QQQ -0.85%, IWM
-1.31%.
NKE +10.21, +8.89% gapped higher on a positive earnings reaction
to lead the DJIA and DIA to a gain.
CSCO, JPM, PG and GS were also DJIA leaders on Friday.
The SPX was near unchanged led by
NKE and the financial sector gainers GNW, ICE, KEY, NDAQ, C, NTRS, BK,
ETFC, CCI, CME, USB, CME, FITB, STI, BAC, JPM and ZION. Fed Chair Janet Yellen made comments
Thursday evening regarding an interest rate hike before year end.
The NDX was weighed down by selloffs
in AMZN, GOOG, AMGN, GILD, FB, REGN, CELG, BIIB, VRTX, ALXN, ILMN, PCLN and
ESRX.
Volatility remains high and is causing 25 to 40
point daily ranges in the SPX which is in a four week sideways trend. The SPX on Thursday fell to Sep 4 support
making a similar low. Friday opened
higher but was unable to hold gains and closed flat for the day.
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 =...197.68…
QQQ = 105.61, 106.93…
IWM = 115.70, 116.42…
Support Levels
SPY = 190.56, 189.74...
QQQ = 102.27, 101.34…
IWM = 110.93, 109.11...
The SPX Market Forecast is pointed down at 31.
__________________
Setups
Horizontal Breakout: RPD, W, ULTA
Diagonal Breakout: SVXY,
Bull Flag: BBY, CCL, DAL, EXPE, FIT, JBLU, JCP, NCLH,
P, PANW, RCL, SHOP, SWKS, VRSN,
Potential Bullish
Divergence: MBLY, MS, SUM
At Support: SPY, GME, GPRO, LVS, SUNE
Moves
New Highs: NKE, UA, FL
Bull Flag Bounce: CRM,
UA
Bounce: VXX,
Gap Up: NKE, JBL, CRUS, AIG, BAC, C, ETFC, FAS, FL, SCHW,
TSL, ZION
______________________
Watch List Stocks
Leading stocks > +2% on Friday: NKE, FAS, C, SEDG, ETFC, VXX, TSL,
STI, BAC, ZION
Lagging stocks < -2.0% included:
AMBA, SUNE, ETSY, MBLY, GPRO, SUM, SCTY,
FIT, SHAK, SVXY, YOKU, CTRP
44 of 100
NDX stocks closed higher on Thursday.
Leading NDX 100 stocks included: CSCO, JD, AVGO, TSCO, ATVI, EXPD, ORLY, AKAM,
SWKS
Lagging NDX stocks included: VRTX, ILMN, REGN, CELG, MYL, BMRN, AMGN, ISRG,
BIIB, MU, STX, WYNN, CERN
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 4
INTC, JD, MSFT, SWKS
Moving Below 30 DMA = 2
CHTR, PCLN
6-month Intermediate
Term Market Trend: Down
3-day Short Term Market Trend: Down
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