SPY Near High, Light Volume...Volatility Drops...

Six of nine sectors moved higher on Friday …XLE, XLU and XLP were the strongest sectors while XLB was the weakest sector.  Oil futures rose .28 to close at 41.38.

For the week ended July 29,

XLK +1.35%, XLV +0.28%, XLB +0.06%, XLY +0.02%,

SPY -0.06%,

Lagging sectors XLF -0.13%, XLI -0.43%, XLU -1.21%, XLE -1.38%, XLP -1.44%,

Money continued to rotate into YTD laggards XLK technology, XLV healthcare, XLY discretionary.

YTD 145

Leading Sectors: XLU +20.43%, XLB +11.70%, XLE +11.70%, XLI +9.49%, XLK +8.45%, XLP +8.34%,

SPY +6.50%,

Lagging Sectors: XLY +4.43%, XLV +4.40%, XLF -0.76%,

Breadth strengthened as advancers led 1871 to 1,117 on the NYSE and decliners led 1,333 to 1,262 on the NASDAQ.

Friday – strengthened, advancers led on NYSE, +6

Thursday – mixed, advancers led on NYSE, +6

Wednesday – weakened, advancers led on NASDAQ, +3

Tuesday – strengthened, advancers led, +5

Monday – weakened, decliners led, +1

SPY up .35 at 217.12 on 79.5 million shares, 17% below average volume

VIX down .85 at 11.87

TLT up 1.17 at 141.56…on 8.7 million shares, 3% below average volume

Technical Commentary:

QQQ +0.22%, IWM +0.20%, SPY +0.16%, DIA -0.14%,

SPY continued in its 12-day sideways trend while QQQ closed at a new high.

Consider moving up stops on short term bullish trades that could pull back.  All according to your profit protection rules.

Remember breakouts typically test about 70% of the time.

Earnings Reactions

GOOGL +25.50, +3.33%

AMZN +6.20, +0.82%

CBL +1.31, +11.93%

Earning’s Announcements:

Positive Reactions: GOOGL, AMZN, AIV, CBL,

Negative Reactions: 

Technical analysis based trades should be closed before earnings. After-hours

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:  CNP, NKE, TGT, ROST, GPS, PAYX, AES, EW, TXN, LMT, CMG, EA, INTU, ATVI, DHI, UA, ALB, SBUX, FISV, CSX, ESRX, CF, VRSK, AMBA, FB, EXPE, LRCX, ADI, NTES, URI, CSCO, CBG, NTAP,

Bull Flag Bounces include: CBL, AIV, GGP, SPG, KSS, PCLN, MSFT, COST, JNJ, CCI,

Horizontal Breakout Setups include: ZION, MAT, UNH, CTXS, TSN, MNST, XLB, SCHN, STLD, AMAT, JD, AA, NUE, JBLU, SWN, VIAB, AAL, NCLH, TRIP, IRM, RCL, CCL, CINF, MAC,

Horizontal Breakout include: HCN, TSLA,

New Highs include: X, GRMN, STT, ORLY, BMRN, WHR, BXP, BURL, ADSK, QCOM, REGN, CPA, DLTR, EBAY, NVDA, KMX, STX, CERN, MLM, TJX, LB, ULTA, BIIB, 

______________________

Short-term Movers:

SPX gainers:  GRMN, STT, VAR, JWN, MAS, EW, FOSL, BHI, AVY, NWL, NEM, WAT, GT, PD, ZION, GPS, HOG, XL, HOLX, KSS, ZBH, CSRA, XRX, HPE, VLO, FBHS, BBY, QRVO, PFG, NDAQ, CAT, SPGI, MPC, ALK, TIF, +4, 49

SPX losers:  CI, LVLT, HIG, RHI, GCI, EMN, F, TSS, MCD, EXR, ANTM, WYN, UA, AD, CNC, NRG, UHS, PSA, AIZ, XOM, CBS, KR, R, KO, TROW, JNPR, MOS, HP, AET, FE, RAI, MI, CMG, GPN, HCA, -4, 41

NDX gainers:  LLTC, ILMN, REGN, PCAR, LMCA, TXN, MXIM, BMRN, NFLX, ORLY, ADI, XLNX, AAPL, TSLA, MU, NVDA, INCY, CELG, SIRI, GOOGL, NTES, +4, 21

NDX losers:  SRCL, AKAM, LVNTA, WFM, WDC, GILD, ADP, CHKP, ESRX, CHTR, ATVI, YHOO, -3, 12,

YTD: 145

SPX Leaders:  NEM, SWN, FCX, OKE, RRC, IRM, ALB, SE, MLM, GRMN (338, -8 > 10p 246, +0)

SPX Losers:  CF, PRGO, FSLR, SIG, HRB, RCL, TSO, VLO, MPC, DAL

NDX Leaders:  NVDA, LLTC, ULTA, AMAT, CHTR, ISRG, TXN, QCOM, DLTR, PCAR, (55, -4, >10p 34, +2)

NDX Losers:  ENDP, LMCA, JD, ALXN, NCLH, SRCL, LBTYA, VRTX, REGN, GILD

DJI Leaders:  JNJ, CAT, UNH, VZ, WMT, MMM, IBM, PFE, XOM, CVX, (21, -2)

DJI Losers:  GS, NKE, DIS, BA, AXP, JPM, AAPL, MCD, GE

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 in the upper zone at 96, bullish.

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

77 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 6

ATVI, BIDU, ESRX, INTU, SRCL, WDC

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Neutral

AMZN, FB Move higher on Postive EPS...SPX Trades in Narrow Range...

Six of nine sectors moved higher on Thursday …XLP, XLU and XLF were the strongest sectors while XLB was the weakest sector.  Oil futures fell.

Breadth was mixed as advancers led 1,530 to 1,420 on the NYSE and decliners led 1,410 to 1,165 on the NASDAQ.

Thursday – mixed, advancers led on NYSE, +6

Wednesday – weakened, advancers led on NASDAQ, +3

Tuesday – strengthened, advancers led, +5

Monday – weakened, decliners led, +1

Friday – strengthened, advancers led, +9

SPY up .25 at 216.77 on 64.7 million shares, 35% below average volume

VIX down .11 at 12.72

TLT down .26 at 140.39…on 7.2 million shares, 20% below average volume

Technical Commentary:

QQQ +0.35%, SPY +0.12%, DIA -0.11%, IWM -0.31%,

SPY continued in its 11-day sideways trend while QQQ closed at a new high.

Consider moving up stops on short term bullish trades that could pull back.  All according to your profit protection rules.

Remember breakouts typically test about 70% of the time.

Earnings Reactions

AMZN +15.94, +2.16%

FB +1.66, +1.35%

GRPN +1.09, +28.84%

CRUS +8.05, +19.27%

GPRO +1.45, +12.53%

WFM -3.03, -9.01%

After-hours

GOOGL +31.39, +4.10%

Earning’s Announcements:

Positive Reactions: AMZN, FB, GRPN, CRUS, GOOGL

Negative Reactions: WFM

Technical analysis based trades should be closed before earnings. After-hours

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:  TXN, LMT, CNP, CMG, COST, NKE, AIV, EA, INTU, ATVI, PCLN, JNJ, DHI, CCI, UA, ALB, SBUX, MSFT, GGP, KSS, SPG, CBL, PAYX, FISV, CSX, ESRX, CF, VRSK, AES, EW, GPS, ROST,

Bull Flag Bounces include: HCN, MAT, CINF, UNH, MAC, CTXS, TSN, MNST, ORLY

Horizontal Breakout Setups include: ZION, XLB, SCHN, STLD, AMAT, JD, AA, NUE, AMBA, JBLU, SWN, VIAB, AAL, NCLH, TRIP, IRM, RCL, TSLA, CCL,

Horizontal Breakout include: STT,

New Highs include: X, GRMN, FB, BMRN, WHR, EXPE, BURL, LRCX, ADSK, QCOM, REGN, CPA, ADI, NTES, DLTR, EBAY, NVDA, URI, CSCO, KMX, STX, CERN, MLM, TJX, CBG, LB, NTAP, TGT, BXP, ULTA, BIIB, AMBA, 

______________________

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 in the upper zone at 96, bullish.

57 of 100 NDX stocks closed higher and two were unchanged on Thursday.

83 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 1

DISH,

Moving Below 30 DMA = 3

ADP, DISCA, WFM

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Neutral

EPS: AAPL, GRMN, STT, ILMN Soar...TWTR, AKAM, RH, GCI, TSS Sink...FOMC Rates No Change...Vol Rises, Falls...

Three of nine sectors moved higher on Wednesday …XLK, XLV and XLB were the strongest sectors while XLP was the weakest sector.  Oil futures fell .73 to close at 41.91.

Breadth weakened as decliners led 1,597 to 1,379 on the NYSE and advancers led 1,485 to 1,095 on the NASDAQ.

Wednesday – weakened, advancers led on NASDAQ, +3

Tuesday – strengthened, advancers led, +5

Monday – weakened, decliners led, +1

Friday – strengthened, advancers led, +9

Thursday – weakened, decliners led, +2

SPY down .23 at 216.52 on 84.0 million shares, 15% below average volume

VIX down .22 at 12.83

TLT up 1.73 at 140.65…on 8.5 million shares, 7% below average volume

Technical Commentary:

QQQ +0.69%, IWM +0.28%, DIA -0.01%, SPY -0.11%,

QQQ, IWM, XLK new high

XLI, bull flag bounce

XLB, XLY, horizontal break out setup

XLF, bull flag setup

XLV bull flag bounce

The FOMC ended its two-day meeting on Wednesday with no change in interest rates as expected.

Consider moving up stops on short term bullish trades that could pull back.  All according to your profit protection rules.

Remember breakouts typically test about 70% of the time.

Earnings Reactions

GRMN +5.40, +11.64%

X +2.54, +11.07%

STT +5.43, +9.31%

ILMN +12.15, +8.09%

AAPL +6.28, +6.50%

TWTR -2.68, -14.53%

AKAM -7.58, -13.05%

RHI -4.59, -11.07%

GCI -1.25, -9.40%

TSS -5.10, -9.04%

After-hours

GRPN +0.90, +23.81%

CRUS +6.08, +14.56%

MRVL +1.07, +9.17%

FB +5.59, +4.53%

WFM -1.74, -5.17%

Earning’s Announcements:

Positive Reactions: GRMN, STT, ILMN, AAPL, EW, ZION, GT, NDAQ, GRPN, CRUS, MR VL, FB

Negative Reactions: TWTR, AKAM, RHI, GCI, TSS, WYN, R, JNPR, LVLT, UHS, EQR, CHRW, WFM

Technical analysis based trades should be closed before earnings. After-hours

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:  HCN, LMT, CNP, CMG, COST, NKE, AIV, EA, INTU, ATVI, MAT, CINF, PCLN, CCL, JNJ, DHI, UNH, CCI, UA, ALB, BMRN, SBUX, MSFT, GGP, KSS, SPG, CBL, MAC, CNP, CTXS, TSN, PAYX, FISV, CSX, MNST, ESRX, CF, VRSK, ORLY,

Bull Flag Bounces include: BMRN, CCL,

Horizontal Breakout Setups include: ZION, STT, XLB, SCHN, STLD, AMAT, JD, AA, NUE, AMBA, JBLU, SWN, VIAB, AES, AAL, NCLH, TRIP, IRM, RCL, TSLA,

Horizontal Breakout include: FB, BURL, LRCX, ADSK,

New Highs include: X, GRMN, TXN, FB, QCOM, REGN, CPA, WHR, EW, ADI, NTES, DLTR, EBAY, NVDA, URI, GPS, ROST, CSCO, EXPE, KMX, STX, CERN, MLM, TJX, CBG, LB, NTAP, TGT, BXP, ULTA, BIIB, AMBA, 

______________________

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 in the upper zone at 96, bullish.

38 of 100 NDX stocks closed higher and one was unchanged on Wednesday.

85 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 5

AKAM, CTSH, MDLZ, MNST, PYPL

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Neutral

Broad Market Pauses as FOMC Begins 2-day Meeting...TXN, LVS, CAT Gains on EPS...AAPL Gains in After-hours...TWTR Falls...

Five of nine sectors moved higher on Tuesday …XLI, XLB and XLE were the strongest sectors while XLU was the weakest sector.  Oil futures fell .41 to close at 42.64.

Breadth strengthened as advancers led 1,820 to 1,146 on the NYSE and led 1,574 to 1,011 on the NASDAQ.

Tuesday – strengthened, advancers led, +5

Monday – weakened, decliners led, +1

Friday – strengthened, advancers led, +9

Thursday – weakened, decliners led, +2

Wednesday – strengthened, advancers led, +6

SPY up .10 at 216.75 on 69.6 million shares, 32% below average volume

VIX up .19 at 13.06

TLT up .22 at 138.92…on 5.2 million shares, 43% below average volume

Technical Commentary:

IWM +0.48%, QQQ +0.11%, SPY +0.05%, DIA -0.12%,

QQQ, IWM, XLK new high

XLI, XLB bull flag bounce

XLP, near all-time high bull flag setup 

XLY, XLU near all-time high horizontal break out setup

XLF, XLV bull flag setup

The FOMC began its two-day meeting on Tuesday which will culminate with the Fed announcement on Wednesday at 2 pm ET.  No change in interest rates is the expectation.

The SPX and NDX were led by LLTC +28.93% and TXN +7.85%.  LLTC agreed to be acquired by ADI for $60 a share and TXN gained on a positive earnings reaction.

Other SPX gainers included WYNN, AVY, MCHP, MU, CAT, MAS, VLO, MPC, WAT, PCAR, NFLX, BAX, CHK, TSO, ADI, DVN, FIS, GT, CMI, STX, WDC, UTX, HAR, JWN, OI, CSRA, FLS and XLNX to complete the top 30 gainers.

Consider moving up stops on short term bullish trades that could pull back.  All according to your profit protection rules.

Remember breakouts typically test about 70% of the time.

A big week in earnings this week with heavy weights AAPL, CAT, DD, MCD, MMM, and VZ reporting on Tuesday.

Earnings Reactions

ATI +2.85, +18.84%

AKS +0.76, +14.02%

JBLU +1.39, +8.04%

TXN +4.86, +7.35%

CNX +1.18, +6.87%

CR +3.85, +6.64%

LVS +2.84, +5.92%

SIRI, +0.20, +4.82%

CAT +3.14, +4.00%

ESRX +1.11, +1.43%

DD +0.40, +0.58%

GILD -7.89, -8.91%

UA -2.23, -5.12%

MCD -5.83, -4.58%

CHKP -3.13, -3.76%

VZ -1.11, -2.00%

MMM -1.97, -1.10%

After-hours

AAPL +5.27, +5.45%

TWTR -1.77, -9.59%

CTXS -1.53, -1.71%

Earning’s Announcements:

Positive Reactions: ATI, AKS, JBLU, TXN, CNX, CR, CAT, DD, ESRX, LVS, SIRI, AAPL

Negative Reactions: GILD, UA, MCD, MMM, VZ, CHKP, TWTR

Technical analysis based trades should be closed before earnings. After-hours

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:  HCN, LMT, CNP, CMG, COST, LMT, OKE, NKE, AIV, MDLZ, EA, KHC, INTU, NFX, ATVI, MAT, DVN, CINF, CVX, PCLN, CCL,

JNJ, DHI, UNH, SE, CCI, NI, UA, ALB, PNW, BMRN,

Bull Flag Bounces include: AA, XLB, SCHN, ADI, NUE, STLD, AMAT, AMBA, JD, ESRX, BCR, CF, NCLH, PAYX, FISV, CSX, FB, LRCX, NTES, BURL,

Horizontal Breakout Setups include: XLB, SCHN, STLD, AMAT, JD, PAYX, FISV, CSX, FB, LRCX, BURL, JBLU, SWN, VIAB, AES, MNST, AAL, MSFT, VRSK, TRIP, VTR, ADSK, UDR, IRM, RCL, ORLY, TSLA,

Horizontal Breakout include: ADI, AMBA, X, NTES, SBUX, DLTR, EW, 

New Highs include: TXN, X, SBUX, MSFT, DLTR, EBAY, NVDA, URI, GGP, GPS, KSS, ROST, CSCO, EXPE, KMX, QCOM, STX, REGN, CERN, MLM, TJX, CBG, LB, SPG, NTAP, CBL, CPA, MAC, TGT, CNP, CTXS, TSN, WHR, BXP, ULTA, BIIB, 

______________________

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 in the upper zone at 96, bullish.

64 of 100 NDX stocks closed higher on Tuesday.

90 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 3

BIDU, CTSH, NCLH,

Moving Below 30 DMA = 4

CHKP, DISH, GILD, KHC,

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