Two of nine sectors moved higher on Friday …XLU,
XLY and XLE
were the strongest sectors while XLV was the weakest sector. Oil futures rose .11 to close at 45.99,
its highest close since Nov 5, 2015.
For the week ended April 29 XLU +2.26%, XLE +0.69%,
XLP +0.65%, XLB -0.23%,
XLY -0.33%, XLI -0.44%%,
XLF -1.02%,
led SPY
-1.26%
Lagging sectors XLV, XLK
YTD
Leading Sectors: XLE +11.90%, XLU +11.88%,
XLB +8.48%, XLI +5.94%,
XLP +3.58%, XLY +1.33%,
SPY +1.21%,
Lagging Sectors: XLK -1.63%, XLF -2.18%, XLV
–3.11%,
Breadth strengthened as decliners led 1.33 to 1 on the NYSE and 1.77 to 1 on
the NASDAQ.
Friday
– strengthened, decliners led
Thursday - weakened, decliners led
Wednesday – weakened, advancers led
Tuesday –
strengthened, advancers led
Monday – weakened, decliners led
SPY down 1.12
at 206.33 on 143.4 million shares, 72% above average volume
VIX up .48
at 15.70
TLT up .33 at 129.38…on
7.4 million shares, 12% above average volume
Technical Commentary:
DIA -0.34%, QQQ –0.53%, SPY
-0.54%, IWM -0.90%,
The
SPX fluctuates based on supply and demand for
the individual stocks that make up the index.
Typical fluctuations can create a one to two percent pullback in the
index at any time. As pull backs
increase to more than two percent a trader should be conscientious about have a
point where protective action is taken.
On Friday the SPY was down -2.79% from its April 20 high before buyers took
control. The SPY finished down -2.19% from its recent high. The SPY
is in a bull flag pattern and formed a hammer on Friday.
Last
weekly support on SPY is 203.09. SPY
closed well above that level at 206.33. Current
price pattern is a bull flag. Watch
for a potential bull flag
bounce in SPY and other
strong stocks as early as Monday.
Earning’s Announcements:
Positive Reactions: MNST,
AMZN, RRC, EXPE, NWL, FLS, LEG, AON, RCL, GNW, SPN
Negative Reactions: SRCL,
STX, WDC, GILD, SWKS, PSX, LM, MPC, CBG, F, GRPN, LPNT
Technical analysis based trades should be closed before earnings.
Trade
what you see, not…
Stocks below support should generally be traded bearishly until a reversal pattern forms.
______________________
Strong Stocks: Setups and Moves You Can Use
Bull Flag Setups include: SPY, DIA,
SVXY, FB, PCAR, XLB, XLE, XLF, FAS, XLI, XLV, XLY, CTXS, UA, JNJ, MMM, CTRP,
ISRG, VOD, AKS, SCTY, DFS, AXP, ATVI, MDLZ, TSCO, ULTA, CNX, SKX, PXD, KMX,
COH, PNR, GM, BSX, SWN, PXD, GCI, EW, EQT, KSU, HAS, HES, HOG, ADSK
Bull Flag Bounces include: X, SLB,
Horizontal Breakout Setups include: CHTR, STLD, SCHN, NUE, RIG,
TSN,
Horizontal Breakout include: NOV, FCX, NEM, BHI, LVNTA,
______________________
Short-term Movers:
SPX gainers: STJ, NOV, FCX, NEM, RRC, BSX, SWN, PXD, AA, GCI, NRG, AIZ,
MUR, LLL, TWC, AWK, DPS, CHK, RCL, TSN, WM, ED, BHI, 4
SPX losers: PRGO, HRB, XRX, HAR, RHI, ABT, GLW, GT, HOLX, CAH, UAL,
FLIR, FSLR, SEE, XL, LM, LYB, BEN, WYNN, TSO, ABC, WHR, WYN, PSX, BWA, DAL, UA,
AME, HES, BLL, MCK, WAT, MPC, MNK, LUV, AGN, FOSL, FE, MAS, TDC, CMG, HPE, PSA,
VAR, ANTM, SCHW, LEN, COF, AMG, IVZ, SNI, AMP, 4
NDX gainers: MNST, EXPE, CHTR, FB, AMZN, NTES, MAR, LVNTA, PCAR, 3
NDX losers: SRCL, ENDP, STX, MYL, GILD, ALXN, AAPL, BMRN, JD, AAL, SYMC,
CTRP, REGN, VIAB, SWKS, CELG, WDC, NFLX, EA, XLNX, ILMN, INCY, LRCX, DISCA,
TSLA, INTC, MXIM, LLTC, CERN, GOOGL, QCOM, BBBY, ADI, MSFT, CTSH, AVGO, AMGN, 3
YTD:
SPX Leaders: FCX, NEM, SWN, RRC, MUR, CHK, OKE, IRM EW,
EQT (315, -14 > 10p 146, +2)
SPX Losers: HRB, PRGO, AGN,
ADS, MPC, WMB, TSO, RCL, UAL, CF
NDX Leaders: PCAR, CHTR, ISRG, FAST, MAT, ULTA, FB, FOXA, TSCO,
YHOO (44, -6)
NDX Losers: ENDP, LMCA, STX,
INCY, VRTX, WDC, REGN, ILMN, ALXN, TRIP
DJI Leaders: CAT, CVX, XOM, UNH, MMM, VZ, JNJ, WMT, UTX, MCD,
(17, -2)
DJI Losers: BA, INTC, GS, MSFT,
AXP, NKE, JPM, TRV, DIS, GE
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 SPY MFC green line is pointed down at 73, time to be defensive.
19 of 100
NDX stocks closed higher on Friday.
35
NDX stocks are above their 30 DMA.
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 5
BIDU, EXPE, MNST, NTES, TRIP
Moving Below 30 DMA = 17
BMRN, CELG, CMCSA, EBAY,
FAST, GILD, HSIC, LLTC, MU, MXIM, NVDA, PYPL, QCOM, TSLA, TXN, VRS, WDC
6-month Intermediate
Term Market Trend: Neutral
3-day Short Term Market
Trend: Down
