Setups to Watch for Friday
(click image to enlarge)
Technical Commentary
SPY, DIA,
QQQ, IWM = One day pull back from record
highs on Wednesday
IWM = horizontal breakout setup
Stock
indexes, on Thursday, pulled back from all-time
highs on Wednesday. Volume dropped by more than half on SPY and DIA. SPY fell -1.51 today on
69.0 million shares compared with a gain of $3.31
on 149.1 million shares on
Wednesday. DIA was down -1.13 on 3.3 million shares versus a gain $3.04
on 7.8 million shares on Wednesday.
VIX
fell -0.73 on
Thursday suggesting that fear dropped and along with the relatively light
volume selloff that today’s
price action was more a pause day after a large gain, than a distribution
day with institutions exiting the trend.
Non-farm payrolls will be reported
on Friday March 10, one week from tomorrow.
Up Trend: XLF, XLI, XLB, XLY, XLK, XLP, XLU, XLV, XLRE
Sideways: XLE
Down Trend:
Breadth weakened as decliners led 2,203 to 805 on the NYSE and led 1,948 to 837 on the
NASDAQ.
Thursday
– weakened, decliners led, +1 sector
Wednesday – strengthened, advancers led, +8
Tuesday –
weakened, decliners led, +2
Monday – strengthened, advancers led, +5
Friday – strengthened, advancers led on the NYSE, +8
QQQ -050%, DIA -0.54%, SPY -0.63%, IWM -1.15%,
SPY down 1.51
at 238.27 on 69.0 million shares, 9%
below average volume,
VIX down .73
at 11.81
TLT down .43
at 119.04…on 8.1 million shares 13% below average volume
Oil futures were down 1.10 to close at 52.57 on Thursday.
The SPY MFC green line is in the upper zone at
94 bullish.
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market
Trend: Up
SPX and NDX Highlights
SPX down 14 points at 2,382, following Wednesday’s 32 point
rise.
SPX gainers MNST, BBY, URBN, GPS, AES, JWN, SCG, SIG, UAA, ROST, DPS,
FSLR, ED, D, HBI, TJX, HST, DVA, NEE, DLTR, LB, PNW, GT, VTR, NRG, PEG, AVGO,
DG, EC, VFC, ULTA, KMB, TSCO, MYL, CMS, GM
QQQ closes down .66 at 130.78,
following Wednesday’s $1.42 rise.
NDX point leaders: MNST, AVGO,
ROST, PYPL, GILD, JD, MYL and DLTR
25 of 100 NDX stocks closed
higher on Thursday.
78
NDX stocks are above their 30 DMA.
NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 4
DLTR, GILD, MNST, ROST,
Moving Below 30 DMA = 9
AAL, CHKP, CMCSA, DISH, ENDP,
NFLX, PCAR, VIAB, WDC
_______________________________
Strong Stocks: Setups
and Moves You Can Use
Bull Flag Setups include: IWM, IYR,
IBM, PG,
CHKP,
CTRP, INTU, VIAB, SWKS, AMAT, MAR, SBUX, ROST, NTES,
SQ,
SRCL, WIX, SHOP, WB, CLF, FLEX, CC, STI, HBAN, VALE, AMD,
One Day Pullback: DIA, XLK, SPY, FAS, SOXL, IWM, XLB, XLI, XLY, JPM, GS, DD,
ATVI, ADBE, AMZN, FB, GOOGL, MSFT, NCLH, NTAP, WDC, YHOO, LUV, WFC, MS, RF, BHI,
HAL, X, DIS, HIG, BABA, STLD, DE, NUE, LOW,
Bull Flag Bounces include: CL, ULTA, PYPL, (3)
Horizontal Breakout Setups include: MU, PYPL, LRCX, NKE, SCHW, AA, AXP, ADSK,
EBAY, MCHP, TMUS, INTC, TXN, USB, GM, NRG, SODA, CCL, ZION, STI, HBAN, CSX,
(click image to enlarge)
Horizontal Breakouts include: RCL, AVGO,
New Highs include: MMM, ADI, CLX, FB, STX, BAC, AAPL, BA, UNH, QQQ, GLW,
KLAC, GD, MCD, PCLN, XLP, COST,
At Support Setups include: CAT, PANW, MXIM,
NVDA, PCAR, ETFC, UPS, MT, FCX, MGM, HES, CF, CHK, AMBA, TLT, LNG,
Support Bounce: BBY,
Break of Support: GDXJ,
_______________________________
Earnings
This week:
Monday – PCLN, SBAC
Tuesday – ENDP, QVCA, ROST, TGT, AZO, AMBA
Wednesday – AVGO, DLTR, MNST, MYL, BBY, LOW
Thursday – JD, COST, KR
Friday – BIG
Earnings Reports
Positive earnings reactions
MNST +5.36, +12.76%
DLTR +0.90, +1.17%
AVGO +2.15, +1.00%
Negative earnings reactions
KR -1.39, -4.34%
After-hours
reports
COST -8.00, -4.48%
2016 Q4 EPS (since
Feb 15)
EPS Positive Reactions
MNST,
DLTR, AVGO, LOW, MYL, DCI, WUBA, ALB, BWXT, IONS, PCLN, ENDP, FL, KSS, INTU, JWN,
NCLH, CTRP, WMT, HD, HSIC, XRAY, SHPG, NTES, SRCL, NTAP, CSCO, SHPG, WIX, ADI, WYN,
SODA,
EPS Negative Reactions
KR, PANW,
BBY, AMBA, ROST, TGT, QVCA, BIDU, BMRN, TSLA, SINA, LB, SLCA, VRSK, DISH, TRIP,
ALXN, FOSL, AIG, DVN, KHC,
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