SPY, DIA, QQQ, IWM Finish the Week Lower...

Four of nine sectors moved higher on Friday …XLE, XLB and XLU were the strongest sectors while XLV was the weakest sector.  Oil futures rose 2.87 to close at 48.86.

For the week ended June 17, 

XLU -0.04%, XLE -0.71%, XLY -0.71%, XLB -1.13%, XLP -1.22%, XLI -1.31%,

SPY -1.69%,
Lagging sectors XLK -2.07%, XLF -2.37%, XLV -2.40%, 

YTD 116

Leading Sectors: XLU +16.80%, XLE +10.89%, XLB +8.71%, XLP +5.90%, XLI +5.13%,

SPY +1.30%,

Lagging Sectors: XLK +0.51%, XLY -0.30%, XLV -2.73%, XLF -5.12%, 

Breadth strengthened as advancers led 1,831 to 1,188 on the NYSE and decliners led 1,491 to 1,090 on the NASDAQ.

Friday – strengthened, advancers led on the NYSE, +4

Thursday – weakened, decliners led, +8

Wednesday – strengthened, advancers led, +4

Tuesday – strengthened, decliners led, +5

Monday – strengthened, decliners led, +0

SPY down .77 at 206.52 on 117.0 million shares, 40% above average volume

VIX up .04 at 19.41

TLT down .85 at 135.61…on 8.4 million shares, 26% above average volume

Technical Commentary:

DIA -0.33%, SPY -0.37%, IWM -0.43%, QQQ -1.43%, 

SPY went ex-dividend today with a 1.07844 dividend declared. 

With all four index ETFs low, there were still some hidden positives in Friday’s action including increased advancers on the NYSE, SPY on a dividend adjusted basis and IWM staying above Thursday’s support low, numerous bull flag bounces in numerous stocks listed below and VIX volatility near unchanged even though SPX closed lower.

Of course SPY and IWM in a bull flag pattern suggests a greater probability of trend continuation.

Oil rose and energy stocks RIG, CHK, MUR, NOV, MRO, DO, FTI, RRC, and DVN among the top 12 gainers in the SPX.

NDX was hit as leading stocks fell including AMZN, GOOGL, FB, MSFT, AMGN and AAPL.  C analyst noted on Friday that Google ad buys are down and GOOGL stock moved $20 lower.

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.

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Strong Stocks: Setups and Moves You Can Use

Bull Flag Setups include:  SPY, IWM, UNH, JNJ, CSCO, SWN, NUE, STLD, AKS, XRX, SCHW,  WDC, AMAT, FISV,  PAYX, TMUS, AVGO, AMZN, CMCSA, EA, ESRX, DISH, INCY, INTC, MDLZ, PCLN, WBA,

Bull Flag Bounces include: RIG, CHK, NOV, RRC, DVN, CVX, CAT, IBM, OKE, WYNN, EQT, WMB, HPE, LB, MU, STX, SCHN, CSX, LRCX,

Horizontal Breakout Setups include: XOM, WYNN, NVDA, IRM, SE, NVDA, ULTA, DLTR, MAT, CA, X, VIAB, WRK, MNST, ADP, ATVI, NFLX, ROST, TXN,

Horizontal Breakout include: AMD, GPS

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YTD:

SPX Leaders:  NEM, OKE, SWN, RRC, FCX, WYNN, EQT, NVDA, IRM, SE (307, -15 > 10p 169, -19)

SPX Losers:  MPC, PRGO, SIG, TSO, CF, HRB, LB, ABC, VLO, FSLR

NDX Leaders:  NVDA, ULTA, AMAT, CHTR, DLTR, ISRG, MAT, KHC, PCAR, CA (44, -4, >10p 15, -5)

NDX Losers:  ENDP, LMCA, JD, STX, REGN, ALXN, VRTX, AAL, INCY, ILMN

DJI Leaders:  UNH, XOM, VZ, WMT, CVX, JNJ, MMM, CAT, IBM, CSCO (17, -2)

DJI Losers:  GS, NKE, AXP, BA, MSFT, AAPL, INTC, DIS, JPM, HD

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 53, time to be defensive

23 of 100 NDX stocks closed higher and one was unchanged on Friday.

42 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 1

BBBY

Moving Below 30 DMA = 20

AAPL, ADI, AMZN, ATVI, CMCSA, CTXS, FISV, FOXA, HSIC, INCY, LLTC, MXIM, NFLX, NTES, SBAC, SBUX, TMUS, TSLA, VRTX, YHOO

6-month Intermediate Term Market Trend: Neutral

3-day Short Term Market Trend: Down