Three of nine sectors moved higher on Friday …XLE, XLP and XLU were the strongest
sectors while XLB was the weakest sector. Oil futures rose 1.23 to close at 44.69.
For the week ended August 12,
XLE +1.73%,
XLP +0.92%, XLY +0.53%, XLI +0.43%, XLU
+0.34%, XLK +0.13%,
SPY +0.13%,
Lagging sectors XLV -0.62%, XLF -0.67%, XLB
-0.72%,
XLE, XLI, XLK and XLY continued to rise
this week while XLB, XLF and XLV pulled back.
All nine sectors continued to be YTD positive
after all nine sectors had turned YTD positive for the first time a week
ago.
YTD 155
Leading Sectors: XLU +17.61%, XLE +13.89%,
XLB +11.52%, XLI +10.47%,
XLK +9.99%, XLP +9.11%,
SPY +7.16%,
Lagging Sectors: XLY +4.91%, XLV +3.82%,
XLF +0.13%,
Breadth weakened as decliners led 1,527 to 1,413 on the NYSE and led 1,296 to 1,214 on the
NASDAQ.
Friday
– weakened, decliners led, +3
Thursday – strengthened, advancers led, +8
Wednesday – weakened, decliners led,
+4
Tuesday –
strengthened, advancers led, +4
Monday – weakened, advancers led on NYSE, +4
SPY down .19
at 218.46 on 61.3 million shares, 10%
below average volume
VIX down .13
at 11.55
TLT up
1.17 at 140.08…on 7.9 million shares, 3% above average volume
Technical Commentary:
IWM +0.10%, QQQ +0.07%, SPY -0.09%, DIA
-0.21%,
DIA
and SPY pause while IWM and QQQ rise.
SPY, DIA and QQQ make a weekly all-time new high close.
SPY,
QQQ, IWM, XLK horizontal bull flag setups
DIA, XLE,
XLI, XLY horizontal breakout setups
XLF,
XLV bull flag setup
CVX,
MMM and WMT made nice weekly gains among Dow stocks.
CHTR,
YHOO, ENDP and JD made nice weekly gains among NDX stocks.
FSLR,
PRGO, RCL, GCI, DAL and DLPH continued their down
trend with weekly losses.
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.
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: GPRO, PCLN, ALXN,
BIIB, CELG, MAR, HPE, EA, TMUS, BXP, FAS, JPM, ZION, ETFC, BAC, C, WFC, STI,
PCAR, XLV, GRMN, DLTR, TJX, CERN, CBG, AAPL, XLF
Bull Flag Bounces include: JD, NTES, DISCA,
Horizontal Breakout Setups include: SYMC, MU, NFLX, WMB, AMAT, IBM,
VLO, MRK, UNH, BX, SBAC, CAT, TSN, BURL, HLT, ORLY, FB, URI, MAT, LB, KHC,
Horizontal Breakout include: ROST, LMT, COST,
New Highs include: AMBA, AVGO, CHTR, CTRP, ADSK, AMZN, KMX, ULTA, LMT,
NTAP, NVDA, STT, SPY, QQQ, MSFT, CBL, TSN, IWM, XLNX
______________________
Short-term Movers for the week:
SPX gainers: JWN, M, KSS, RL, TIF, HBI, MRO, BHI, NFBL, DVN, VH, NWSA,
PXD, SIG, OKE, FL, +4, 22
SPX losers: FSLR, KLAC, RIG, DVA, NAVI, NRG, COH, DO, PRGO, NUE, GCI,
RCL, PDCO, SNI, BMY, -4, 16
NDX gainers: ENDP, JD, CHTR, YHOO, NVDA, CTRP, QVCA, LVNTA, NTAP, ADSK,
+4, 10
NDX losers: NCLH, INCY, BMRN, LRCX, -4, 4,
YTD: 155
SPX Leaders:
NEM, SWN, OKE, FCX, RRC, SE, GRMN, ALB, XEC, WYNN (352, +0 > 10p 247,
+2)
SPX Losers: CF, FSLR, PRGO,
RCL, GCI, TSO, DAL, HRB, SIG, DLPH
NDX Leaders:
NVDA, AMAT, ULTA, CHTR, LLTC, YHOO, TXN, ISRG, MAT, DLTR, (64, +3,
>10p 35, +0)
NDX Losers: ENDP, LMCA, NCLH,
ALXN, SRCL, TRIP, WDC, LVTYA, INCY, JD,
DJI Leaders:
CAT, UNH, WMT, JNJ, MRK, MMM, IBM, VZ, CSCO, CVX, (24, -1, >10p 12)
DJI
Losers: NKE, GS, BA, DIS, AXP, 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.
55 of 100
NDX stocks closed higher and two were
unchanged on Friday.
77
NDX stocks are above their 30 DMA.
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 1
CTSH
Moving Below 30 DMA = 2
EA, INTU
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market
Trend: Neutral
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