One of nine sectors moved higher on Friday…XLU,
XLP and XLI were the
strongest sectors while XLY was the weakest sector. Oil fell 69 cents to
close at 31.00.
Breadth weakened as decliners led advancers 3.23 to 1
on the NYSE and 4.50 to 1 on the NASDAQ.
Friday
– weakened, decliners led
Thursday- strengthened, advancers led
Wednesday – strengthened, advancers led on the NYSE
Tuesday –
weakened, decliners led
Monday – weakened, decliners led
SPY down 3.65 at 187.95 on 180.7 million shares, 15% above average volume
VIX up 1.54 at 23.38…
TNX down 0.16 at 18.48…
TLT up .15 at 128.72…on 9.2 million shares, 1% below average volume
XLF down .28 at 20.95…on
66.2 million shares, 9% above average volume
AAPL up 1.87 at 96.38 on 45.9 million shares, 14% below average volume
FB down 1.92 at 112.69 on 56.9
million shares, 63% above average volume
Technical Commentary:
DIA -1.34%, SPY -1.91%, IWM
-2.74% QQQ -3.47%.
The
NDX -143.30 fell
below last week’s support low led by
AMZN, MSFT, FB, GOOG, INTC, AMGN and
ADBE which combined for -53 points on Friday.
AMZN, MSFT, GOOG, INTC and
ADBE also closed below last week’s support low.
In 2015 QQQ led SPY and DIA with Friday’s selloff QQQ is down -10.5% year-to-date, significantly underperforming
SPY and DIA. On Friday twenty-seven
NDX lost 5% or more including: TRIP,
ADBE, TMUS, NFLX, NXPI, TSLA, NCLH, ADSK, WDC, SBUX, EXPE, AMZ, NVDA, SWKS,FB,
AVGO, LVNTA, PYPL,VRTX, EA, LBTYA, CERN, ULTA, JD, INTU, ILMN and PCLN.
Nine Dow stocks MRK, VZ, WMT, IBM, PG, XOM, CAT, PGE, and MMM rose on Friday. This was in contrast to only seven NDX 100 stocks that rose on Friday.
DIA closed well above last week’s support low while SPY closed at last week’s support
low. Be defensive if SPY breaks support at 187.06. Next SPY
support levels are 184.64 and 181.02.
Three sectors XLB, XLU and XLI rose for the week.
XLB
Materials was led by weekly gains in DOW, DD, MON, APD, PX, LYB and IP.
XLI
Industrials was led by weekly gains in MMM, UNP and
UPS.
YTD:
SPX Leaders: NEM, SWN, KORS, RRC, SE, EXC, MAT, COG, CNX, M,
()
SPX Losers: MPC, ESV,
URI, WMB, MRO, ADS, CHK, BWA, TRIP, RCL
NDX Leaders: MAT, FAST, PCAR, DISCK, CMCSA, VIAB, FISV,
XLNX, KHC, FB ()
NDX Losers: BMRN, INCY,
NCLH, TSLA, TRIP, VRTX, ILMN, NFLX, REGN, JD
DJI Leaders: VZ, WMT, XOM, PG, MMM,
DJI Losers: AXP, CSCO, INTC,
BA, GS, JPM, HD, DD, AAPL, DIS
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 down at 37.
______________________
7 of 100
NDX stocks closed higher on Friday.
11
NDX stocks are above their 30 DMA.
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 0
Moving Below 30 DMA = 14
ADP, AMAT, AVGO, CERN, CHKP, INTU, ISRG,
KHC, KLAC, LLTC, MYL, ORLY, ROST, STX
6-month Intermediate
Term Market Trend: Neutral
3-day Short Term Market
Trend: Down
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