Stocks Soar...BOJ Follows ECB and Lowers Key Rate to Negative...MSFT, QCOM, INTC, AAPL, CSCO, FB Lead Tech Sector...

All nine sectors moved higher on Friday…XLK, XLE and XLB were the strongest sectors while XLY was the weakest sector.  Oil rose 2 cents to close at 33.74.

                         

Breadth strengthened as advancers led decliners led 8.08 to 1 on the NYSE and 3.86 to 1 on the NASDAQ.

Friday – strengthened, advancers led

Thursday- strengthened, advancers led

Wednesday – weakened, decliners led

Tuesday – strengthened, advancers led

Monday – weakened, decliners led

SPY up 4.61 at 193.72 on 210.5 million shares, 35% above average volume

VIX down 2.22 at 20.20…

TNX down .54 at 19.31…

TLT up 1.07 at 127.30…on 13.1 million shares, 44% above average volume

XLF up .59 at 21.72…on 81.6 million shares, 42% above average volume

AAPL up 3.25 at 94.09 on 64.4 million shares, 14% above average volume

FB up 3.10 at 112.21 on 62.7 million shares, 95% above average volume

Technical Commentary:

IWM +3.28%, SPY +2.44%, DIA +2.40%, QQQ +2.09%.

BOJ lowered the rate that banks receive to -0.10%, joining the ECB with negative rates.  This was a move to stimulate the Japanese economy by encouraging banks to loan money to businesses and individuals instead of the government.

Stocks had their best day in 2016 and tech stocks led behind the strength of MSFT, QCOM, INTC, AAPL and FB.

YTD:

SPX Leaders:  SWN, RRC, EQT, COG, M, SE, COH, NEM, VIAB, SNI (126)

SPX Losers: ESV, URI, BWA, FCX, VRTX, ADS, AN, CF, AA, OI

NDX Leaders:  VIAB, DISCK, KHC, FB, XLNX, CTSH, DLTR, ROST, PCAR, FISV (17)

NDX Losers: INCY, BMRN, VRTX, ALXN, ADSK, REGN, NCLH, MU, TRIP, STX

DJI Leaders:  WMT, VZ, MCD, PG, JNJ, MMM
DJI Losers: AXP, DD, BA, CSCO, GS, INTC, JPM, IBM, DIS, UTX

Remember:  “It’s a market of stocks, not just a stock market.”

Trade with the trend of the chart you are trading and continue to move your profit protection stops.  Continue to follow your rules.

The SPX MFC green line is pointed up at 32. 

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Setups

Horizontal Breakout: JNJ, MMM, XLNX, DLTR, CMCSA, SWN, MXIM, MU, NXPI, QRVO, LLTC, LRCX, MCHP

Bull Flag: M

  

Moves

New Highs: MCD, PG, FB, COH, ROST, XLNX, VZ

H Breakout: WMT, PG, FB, ROST, CTSH, SBUX, ADI, INTC

Bull Flag Bounce: MYL

Bounce: NVDA

Gap Up: MSFT, AVGO, SWKS

Gap Down:  AMZN

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93 of 100 NDX stocks closed higher on Friday.

32 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 15

ADI, ADP, CMCSA, FOXA, GOOG, INTU, KLAC, LLTC, MDLZ, MSFT, MYL, SRCL, TMUS, TXN, VOD

Moving Below 30 DMA = 2

AMZN, EA

6-month Intermediate Term Market Trend: Neutral
3-day Short Term Market Trend: Up