Setups to Watch for Friday
(click image to enlarge)
Technical Commentary
QQQ, SPY,
DIA = 6-day Bull Flag price pattern
following record highs last week
IWM = close below short term support for third day
Non-farm payrolls will be reported
on Friday March 10, tomorrow.
Up Trend: XLF, XLI, XLY, XLK, XLP, XLU, XLV
Sideways: XLB, XLRE
Down Trend: XLE
Breadth strengthened
slightly
as decliners led 2,103 to 907
on the NYSE and led 1,677 to 1,187 on the NASDAQ.
Thursday
– strengthened slightly, decliners led, +4 sectors
Wednesday – strengthened slightly, decliners led, +4, 1 sector unchanged
Tuesday –
continued weak, decliners led, 1 sector unchanged
Monday – weakened, decliners led, +1
Friday – strengthened, advancers led on the NYSE, +4
SPY +0.13%, QQQ +0.08%, DIA
+0.03%, IWM -0.40%,
SPY,
QQQ and DIA found support on above average
volume on Thursday.
SPY up .30
at 236.86 on 90.6 million shares, 22%
above average volume,
VIX up .44
at 12.30
TLT down .94
at 116.84…on 10.5 million shares 19% above average volume
Oil futures were down .58 to close at 49.62 on Thursday
The SPY MFC green
line is pointed
down at 79.2
short-term defensive,
prepare to return to bullish if price closes above Thursday’s high.
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market
Trend: Down
SPX and NDX Highlights
SPX up 1 point at 2,364.
SPX gainers SIG, MRO, FTR, NRG, EWM CHK, EQIX, MUR, APA, REGN, NFX,
PXD, DNB, SEE, IDXX, CELG, HIG, NBL, MDLZ, BMY, DG, COG, VRTX, BAX, JNJ, INCY,
MSI, LLY, LLL, ZBH, ZTS, CTL, COP, XEC, CCL
QQQ closes up .10 at 130.84.
NDX point leaders: CELG, CMCSA, FB,
GOOGL, AMZN, GOOG, MDLZ, AVGO, INTC, REGN, AMGN and KHC
46 of 100 NDX stocks closed
higher and two were unchanged on Thursday.
65
NDX stocks are above their 30 DMA,
pullback day 6.
NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 1
FOXA
Moving Below 30 DMA = 4
CHKP, EBAY, FAST, STX,
_______________________________
Strong Stocks: Setups
and Moves You Can Use
Bull Flag Setups include: QQQ, SPY, DIA, XLK, XLF, FAS, XLP,
(click image to enlarge)
BA, MCD,
JPM, AXP, GS, DIS, UTX,
MU, NTAP,
MYL, NCLH, PAYX, NTES, INTU, LRCX, CTRP, MAR, BIIB,
WFC, SCHW,
FLEX, MS, BAC, MNST, GLW, LOW, ZION, HBAN, LUV, CC, GD, SODA, GM, USB,
One Day Pullback:
Bull Flag Bounces include: SQ, HIG, (2)
Horizontal Breakout Setups include: NRG, KLAC, MMM, SWKS, TXN, DD, AVGO, C, AMZN,
YHOO, VIAB, GOOGL, MSFT, WUBA, PYPL, SOXL, MXIM, RCL,
ADBE,
DE, BABA, CL, WIX, AA, JD, SHOP, QCOM, SRCL, TSCO, BBY,
(click image to enlarge)
Horizontal Breakouts include: PCLN, CELG, INCY,
New Highs include: AMAT, ATVI, EA, FB, HOLX, NXPI, SYMC, UNH, ADI, AAPL,
CLX, MU,
At Support Setups include: AMD, STX, WDC,
STI, RF, CSX, IYR, INTC, ALK, WB, X, NUE, TMUS, ROST, PG, EBAY, NKE, PANW, UPS,
PCAR, ETFC, COST, STLD, MGM, GDXJ,
Support Bounce: CCL, NVDA, ADSK,
Break of Support: IBM, AMBA, CAT, ULTA, HAL, VALE, TLT, LNG, MT, CHK, BHI, IWM,
CLF, HES, CF,
_______________________________
Earnings
This week:
Monday –
Tuesday – HRB, URBN
Wednesday –
Thursday – SIG, SPLS, ULTA
Friday –
Earnings Reports
Positive earnings reactions
SIG +5.62, +8.73%
Negative earnings reactions
SPLS -0.47, -5.25%
After-hours
reports
ULTA -13.72, -5.01%
2016 Q4 EPS (since
Feb 15)
EPS Positive Reactions
SIG, HRB,
BIG, MNST, BURL, 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
SPLS,
URBN, COST, 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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