All nine sectors moved higher on Friday …XLU, XLF and XLK were the strongest
sectors while XLI was the weakest sector. Oil futures fell .28 to close at 44.26.
For the week ended July 22,
XLK +1.82%,
XLU +1.46%, XLV +1.23%, XLY +0.77%, XLF
+0.68%,
SPY +0.65%,
Lagging sectors XLB -0.25%, XLP -0.36%, XLI
-0.68%, XLE -1.31%,
For the
week money rotated into YTD
laggards XLK technology, XLV healthcare, XLY discretionary,
XLF financials and YTD leader XLU utilities. Money rotated out
of YTD leaders XLE energy, XLI industrials, XLP staples
and XLB materials.
YTD 140
Leading Sectors: XLU +21.90%, XLE +13.26%,
XLB +12.07%, XLI +9.96%,
XLP +9.92%, XLK +7.00%,
SPY +6.56%,
Lagging Sectors: XLY +4.40%, XLV +4.11%,
XLF -0.63%,
Breadth strengthened as advancers led 1,958 to 996 on the NYSE and led 1,673 to 915
on the NASDAQ.
Friday
– strengthened, advancers led, +9
Thursday – weakened, decliners led, +2
Wednesday – strengthened, advancers led, +6
Tuesday –
weakened, decliners led, +2
Monday – strengthened, advancers led, +7
SPY up
.98 at 217.24 on 62.7 million shares, 39%
below average volume
VIX down .72
at 12.02
TLT up
.24 at 138.80…on 5.8 million shares, 37% below average volume
Technical Commentary:
IWM +0.74%, SPY +0.45%, QQQ +0.42%, DIA +0.23%,
SPY,
DIA, QQQ and IWM bounce on Friday. DIA rose with 22 of 30 stocks
moving higher with strong stocks V,
MSFT, AXP, VZ, INTC, IBM, DD and MCD leading gainers.
Chart Signals is about helping traders see entry and exit points on
charts. Too many traders trade what they
think or what they hear. They don’t seem to understand that basic life concepts like “talk
is cheap” or “actions speak louder than words” apply to trading the markets.
For all practical purposes the noise in the markets in
infinite. Notwithstanding the immense
level of noise that exits the signal exerts itself in a stock chart through the trend or direction of
trading.
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.
Earning’s Announcements:
Positive Reactions: AMD, SWN, CMG, SWK, AAL, WHR
Negative Reactions: SWKS, PYPL, SYK, HON, STI
Earnings Reactions
AMD +0.62, +11.88%
SWN +1.26, +9.54%
CMG +24.41, +5.84%
SWK +5.52, +4.80%
AAL +1.40, +4.00%
QCOM +1.22, +2.04%
SWKS -6.11, -8.62%
PYPL -2.71, -6.75%
SYK -5.53, -4.51%
HON -3.05, -2.57%
STI -0.77, -1.78%
STI -0.77, -1.78%
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: AA, KIM, GPRO,
SCHN, ADI, AMAT, COST, LMT, AMBA, JD, ESRX, OKE, NKE, BCR, AIV, MDLZ, EA, KHC, INTU,
CF, NFX, ATVI, MAT, NCLH, PAYX, DVN, CINF, CVX, NKE, NUE, STLD, PCLN, FISV, CCL,
ORLY, CSX, FB, LRCX, TSLA, NTES,
Bull Flag Bounces include: SWN, X, EQR, ATI, NEM, O, AES,
MNST, AAL, INTC, MSFT, TMUS, CCI, AWK, CMCSA, NEE, WDC, CA, NI, PNW, EIX, VRSK,
ADP, TRIP,
Horizontal Breakout Setups include: SWN, MAR, CMS, VIAB, WEC, X,
NE, AES, MNST, AAL, MSFT, NI, VRSK, TRIP, NXPI, DLTR, AKAM, VTR, BMRN, UNH, SE,
ADSK, UDR, SBUX, EW, N, AMZN, IRM, RCL,
Horizontal Breakout include: SPG, NVDA, NTAP, CNP, CTXS,
New Highs include: EBAY, URI, KMX, QCOM, BIIB, GGP, HCN, STX, GPS,
JNJ, CBL, REGN, ROST, CSCO, EXPE, TXN, ULTA, CPA, MAC, DHI, CERN, MLM, BXP,
CBG,
______________________
Short-term Movers:
SPX gainers: CHK, URI, CI, HUM, CTAS, CMG, ADS, SWN, PHM, WHR, MNK, ANTM,
TYC, FFIV, CNC, HST, CBG, BAC, SLB, KMX, JCI, GPS, GM, CSRA, SCHW, HOG, CMA,
RHI, TSN, , +4, 40
SPX losers: LUV, DO, MUR, CF, MRO, NUE, RIG, APA, HAS, GWW, HP, COP,
HES, CPB, NFL, FTI, RRC, NOV, NRG, OKE, SYK, SHW, -4, 24
NDX gainers: EBAY, QCOM, BIIB, STX, NXPI, LMCA, MSFT, LVNTA, NTAP, REGN,
CELG, YHOO, VRTX, +4, 13
NDX losers: NFLX, PYPL, SWKS, FOXA, FAST, SYMC, -2, 6,
YTD: 140
SPX Leaders:
NEM, SWN, FCX, OKE, RRC, SE, IRM, ALB, MLM, EQT (346, +6 > 10p 246, +9)
SPX Losers: CF, PRGO, VLO, HRB,
TSO, RCL, SIG, FLSR, MPC, LB
NDX Leaders:
NVDA, AMAT, ULTA, CHTR, ISRG, DLTR, QCOM, KHC, FISV, MAT (59, +5,
>10p 32, +10)
NDX Losers: ENDP, LMCA, ALXN, JD,
NCLH, REGN, LBTYA, VRTX, NFLX, ILMN
DJI Leaders:
UNH, JNJ, VZ, XOM, WMT, MMM, IBM, CVX, CAT, PFE (23, +1)
DJI Losers: GS, NKE, BA, AXP,
DIS, AAPL, JPM
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.
76 of 100
NDX stocks closed higher on Friday.
92
NDX stocks are above their 30 DMA.
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 4
CHKP, DISCA, EA, VOD
Moving Below 30 DMA = 0
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market Trend: Up
3-day Short Term Market Trend: Up
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