All nine sectors moved lower and on Friday…XLF, XLV and XLY were the strongest
sectors while XLU was the weakest sector. Oil futures fell 1.61 to close at 45.71.
For the week ended September 9,
XLE +0.90%,
XLV -1.57%, XLF -2.16%,
SPY -2.33%,
Lagging sectors XLU -2.36%, XLK -2.51%, XLY
-3.03%, XLI -3.07%, XLB
-3.68%, XLP -3.89%,
XLV
turned negative YTD this week leaving eight of nine sectors YTD
positive after all nine sectors being YTD positive for the past four
weeks.
YTD 174
Leading Sectors: XLE +15.55%, XLU +11.97%,
XLB +9.26%, XLK +7.77%,
XLI +7.75%,
SPY +4.62%,
Lagging Sectors: XLP +4.36%, XLF +0.88%,
XLY +0.34%, XLV -0.72%,
Breadth weakened as decliners led 2,952 to 172 on the NYSE and led 2,465 to 395
on the NASDAQ.
Friday
– weakened, decliners led, +0
Thursday – weakened, decliners led, +3
Wednesday – strengthened, advancers led, +5
Tuesday –
weakened, advancers led, +6
Monday – Labor Day Holiday
SPY down 5.23
at 213.28 on 221.5 million shares, 230%
above average volume
VIX up 4.99 at 17.50
TLT down 2.27
at 135.52…on 13.3 million shares, 97% above average volume
Technical Commentary:
DIA -2.12%, SPY -2.39%, QQQ -2.52%, IWM -3.12%,
SPY broke
support on Friday and moved below the low of its $3.57 trading range for of the
past 24 days.
Airline
stocks DAL UAL AAL LUV and ALK pulled back into a potential bull
flag pattern after two strong days to the updside.
If
you had moved stops up as we have suggested the past few weeks, there is a high
probability that you were stopped out on Friday.
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.
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:
______________________
Short-term Movers for the week:
SPX gainers: SE, APA, CHK, COG, WYNN, TSO, WMB, SWN, NBL, CMG, RRC, MUR,
EOG, +4, 16
SPX losers: QRVO, MOS, GIS, KMX, FBHS, IR, MJN, ALLE, CBG, CMI, CAG,
RAI, HST, CLS, LOW, MCHP, SEE, SYY, PNR, K, HLS, WHR, ALB, SIG, GPC, MAS, VTR,
TDC, IRM, PBI, HES, NWL, ETN, HAR, HPE, PPG, VMC, RCL, EMN, FMC, KMC, HS, TSN,
WYN, CL, BF/B, FLR, AA, GM, MLM, FLS, CHD, DHR, DOW, VXP, MO, TMO, URI, SLG,
DPS, MHK, PX, BBY, WY, UDR, CPB, HOG, FFIV, YM, LEG, GCI, NKE, PLD, AYI, CAN,
KMB, A, NUE, XYL, LYB, ITW, DHI, SYK, COL, CCL, AIV, XRAY, ECL, PEG, AMT, WRK,
CTAS, SHW, DO, JWN, TEL, NWSA, PM, VNO, ADM, COH, GGP, JEC, PH, SNA, TIF, PPL -4, 139
NDX gainers: WDC, STX, AAL, LMCA, JD, +4, 3
NDX losers: TSCO, SWKS, QVCA, CTRP, NXPI, AVGO, WFM, MXIM, VIAB, FAST,
BBBY, MAT, TMUS, ADI, BIIB, CTSH, MAR, PCAR, DISCA, AKAM, NVDA, SBAC, MDLZ,
COST, QCOM, LN, CTXS, TXN, EA, AAPL, ADP, MNST, KHC, ADBE, DISH, , -4, 37,
YTD: 174
SPX Leaders:
CHD, NEM, SWN, OKE, SE, RRC, CHK, URBN, FCX, KMI (315, -38 > 10p 200,
-41)
SPX Losers: FSLR, CF, PRGO,
SIG, RCL, HRB, GCI, DO, FOSL, DAL
NDX Leaders:
NVDA, AMAT, CHTR, LLTC, NTAP, ULTA, YHOO, ISRG, TXN, FB, (54, -8,
>10p 31, -5)
NDX Losers: ENDP, LMCA, NCLH,
ALXN, SRCL, REGN, QVCA, TRIP, INCY, MYL
DJI Leaders:
CAT, MRK, MMM, JNJ, WMT, CSCO, UNH, IBM, CVX, VZ, (20, -4, >10p 11,
-2)
DJI Losers: DIS, NKE, BA, GS,
AXP, HD, GE, MCD, AAPL, KO
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
67, defensive.
3 of 100
NDX stocks closed higher on Friday.
24
NDX stocks are above their 30 DMA.
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 0
Moving Below 30 DMA = 27
ADBE, ADP, AKAM, AMZN, BBBY, BMRN,
CA, CSCO, CSX, DISH, EA, EXPE, GOOG, ILMN, ISRG, KHC, LBTYA, LRCX, MDLZ, NVDA,
PAYX, QCOM, ROST, SBAC, SWKS, VRSK, XLNX
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market
Trend: Down
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