Four of nine sectors moved higher on Friday…XLB,
XLF and XLE were the
strongest sectors while XLU was the weakest sector.
Breadth weakened as
advancers led decliners 1.60 to 1 on the NYSE and strengthened on the NASDAQ where advancers led 1.83 to 1.
Friday
– mixed, advancers led
Thursday - strengthened, advancers led
Wednesday – strengthened, advancers led
Tuesday –
weakened, decliners led
Monday – strengthened, advancers led
SPY down .45
at 195.09 on 129.8 million shares, 18% below average volume
VIX up .70 at 19.81…
TNX up .65 at 17.62…
TLT down 1.27
at 130.41…on 9.2 million shares, 10% below average volume
XLF up .15 at 21.32…on
81.2 million shares, 7% above average volume
AAPL up .15 at 96.91 on 28.9 million shares, 42% below average volume
FB down .15
at 107.92 on 26.6 million shares, 40% below average volume
Technical Commentary:
DIA -0.34%, SPY -0.23%, QQQ
-0.13%, IWM +0.63%.
SPY,
DIA, QQQ and IWM rallied for the second straight week. SPY tested Thursday’s breakout of double
bottom resistance at 194.58 on Feb 1 and closed at 195.08. SPY has a six-week chart target of 208.07.
Just
10 of 30 Dow stocks rose on Friday led by DD, GS, BA, JPM, INTC and CAT.
BIDU,
BMRN, KHC and ADSK had positive earning reactions on Friday.
NDX weekly leaders NCLH, TSLA, ULTA and VRSK had strong buying throughout the week…
(click image to
enlarge)
NDX weekly leaders NCLH, TSLA, ULTA and VRSK had strong buying throughout the week…
(click image to
enlarge)
Horizontal
breakout patterns on LRCX, ESRX, NXPI and a bull
flag pattern on STX are worthy of a close look…
(click image to
enlarge)
Stocks below support should generally be traded bearishly until a reversal pattern forms.
______________________
Strong Stocks: Setups and Moves You Can Use
Bull Flag Bounces include: CTRP, NTAP, STX, WFM,
TRIP,
Bull Flag Setups include: DIS, XOM,
EXPE, LBTYA, PCLN, CSCO, ADP, CA, EBAY, SBUX,
Horizontal Breakouts include: IWM, XLB, XLY, AVGO, NCLH, NXPI,
ULTA, CHTR,
LRCX,
MAR
Horizontal Breakout Setups include: SPY, DIA, XLI, UNH, AMZN,
FAST, FB, ILMN, LLTC, MYL, PCAR, TXN, XLY,
AXP, DD, HD, IBM, INTC, NKE, PG, TRV, ADI, CHKP, CTSH, DLTR, MXIM, NFLX, SWKS, ULTA,
MMM, AAL, ATVI, FISV, KHC, MAT, ORLY
______________________
Short-term Movers:
SPX gainers: CHK, FTR, MRO, NFX, MSI, AA, CRM, FSLR, WY, OKE, TSO, FC,
UTX, NRG, MOS, DVN, MUR, ALLE, IR, DHI, TGT, BBY, GME, MPC, PWR, WHR, AGN, HUM,
OI, M,THC, ETFC, AN, SNI, MHK, COH, XRAY, APC, FCX, KORS, LUV, HCN, CBS, EIX,
MNK, SEE, SHW, JWN, NAVI, ADM, URI, WYNN, VRSN, WRK, HBI, PVH, AET, NFLX,HAR,
VTR, RCL, FOSL, JCI,BEN, HAS
SPX losers: SWN, SIG, PPL, HON, SYY, EXR, EQT, ICE, EOG, K, O, FTI, CVX,
BMY, MJN
NDX gainers: NCLH, TSLA, ULTA, VRSK, NXPI, EA, TMUS, ADBE, NFLX, KHC,
LRCX, BIDU, ATVI, DISH, SBAC, BBBY, SRCL, ENDP, QVCA
NDX losers: MU, ALXN, EXPE, SYMC, PCLN, CA
YTD:
SPX Leaders: KORS, NEM, FOSL, M, TSN, SE, CTL, KMI, WYNN,
CPB (190, -6)
SPX Losers: ESV, CHK, WMB, DVN, MRO, MPC, RIG, URI, LM, COP
NDX Leaders: MAT, FAST, PCAR, FISV, KHC, HSIC DLTR, AKAM,
ROST, ISRG (23, -2)
NDX Losers: INCY, VRTX, REGN, WDC,
TRIP, ALXN, MU, BMRN, JD, TSLA
DJI Leaders: VZ, WMT, MMM, XOM, UNH, JNJ, PG, UTX, KO, NKE
DJI Losers: AXP, BA, GS, INTC, JPM, DIS, AAPL, DD, MSFT, PFE
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 85.
52 of 100
NDX stocks closed higher and two were
unchanged on Friday.
80
NDX stocks are above their 30 DMA.
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 7
BIDU, BIIB, CELG, ESRX, ILMN, JD, MU
Moving Below 30 DMA = 3
GILD, MNST, MSFT
6-month Intermediate
Term Market Trend: Neutral
3-day Short Term Market
Trend: Up
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