Jobs Report Better than Expected as Stocks Rebound and Reverse Thursday’s Selloff…QQQ and Many Stocks with a MACD Divergence Bounce…

Weekly Gainers included: AMD, AMAT, AAL, UAL, LRCX, AA, ALK, SWKS, LNC, LUV, KLAC, MS, DAL, PRU, SWK, AVGO, JPM, PCLN, KEY, ADSK, CELG, TXN, EA, XLNX, NVDA, JPM, BA, MCD, DD, 

MACD Divergence Bounce Entries on Friday:  QQQ, AMAT, LRCX, NFLX, SYMC, KLAC, SWKS, AVGO, CTAS, MELI, MXIM, MCHP, EA, XLNX, GOOGL, AMZN, MSFT, ADSK, ADBE


After the Jobs report came in at 222,000 new jobs vs. a forecast of 177,000 and an upward revision of 20,000 jobs for May to 158.000, the broad market moved higher for most of Friday.

Eight sectors were higher, led by technology XLK +1.16% and discretionary XLY +0.89%.

SPY up 1.56 at 242.11 on 57.9 million shares, 14% below average. 

VIX down 1.35 to 11.19.

Oil down 1.00 to 44.33

TLT down .74 at 122.72…on 9.4 million shares, 20% above average.

MCD +2.08% and NKE +1.43% led the DJIA, 23 advancers.

FOSL +6.42%, DHI +3.77% and LEN +3.10% led the SPX.

AMAT +3.40%, LRCX +2.95%, INCY +2.85% and NFLX +2.69% led the NDX.

Intermediate and long term up trend intact.  3-day short term trend is neutral.

Up: QQQ, IWM, SPY, DIA

Down:

Uptrend sectors:  XLF, XLV, XLI, XLB, XLY, XLRE,

Neutral sectors: XLP, XLK, XLU,

Down trend sectors: XLE

Breadth strengthened as advancers led 2,021 to 894 on the NYSE and led 2,121 to 724 on the NASDAQ.

The SPY MFC green line is pointed down at 61, defensive.

Look for a potential bounce in: DIA, SCHW, EXPE, BBY, MMM, WYNN, JD, KWEB, WYN, BBRY, WMT, CCL, SQ,

At support: IWM, SPY, XLY, RACE, MAR, TLT, V, RCL, TSLA,

One Day Pullback: C, ETFC, BIDU, BAC, CC, BABA, MU, PYPL, AABA,

Bounces included: MCD, QQQ, AMAT, NFLX, ADBE, ATVI, EA, AAPL, NVDA, GOOGL, FB, ADSK, AMZN, XLNX, KLAC, MCHP, HUN, SHOP, ANET, WDC, MNST, AVGO, LRCX, SWKS, WB,

Potential Breakouts include: MS, BA, MOMO, CSX, AMD, TAL, BABA, WFC, HUN,

Breakouts: MCD,

Break of short-term support: COST, DDD,

Bear flag:

New Highs: LUV, JPM, CSX, ETFC, AAL, ADP, JBHT

84 of 100 NDX stocks closed higher and on Friday.

31 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 5

ADBE, CTSH, HOLX, INCY, MNST

Moving Below 30 DMA = 1

ESRX

The intermediate and long-term trends are still up.

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Neutral

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