Rally Week 15 Ends on a Close Near the SPY Oct 3 Closing High...

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QQQ, SPY, IWM, DIA, IWM Horizontal Breakout in Rally Week 15…

                  (click image to enlarge)

YTD

QQQ   +19.71%

IWM    +17.54%

SPY    +15.46%

DIA     +13.28%

Alert:  The SPY closed $6.89 higher this week.  If SPY only moves half that amount next week it will make an all-time high above last year’s high of 290.24 and closing high of 289.29.  If it makes an all-time high it will also break out of a 6-month resistance area setting up a new 6-month chart target of $345.  The astute trader will keep in mind that an uptrend is a series of higher highs and higher lows and that pullbacks are part of how the trend moves up.  Fasten your seat belts for a breakout and a potential significant move up over the next several months.

Oil +1.08 rose on Friday and the energy sector led all sectors.  Seven of the top ten SPX gainers were oil stocks:  APA, EOG, APC, DVN, HES, XEC and NBL.

The DJIA, closed up 40 points at 26,424, led by strength in CVX, HD, UNH, AAPL and UTX.  Fifth straight close above 26,000 since March 1.

All eleven sectors were higher on Friday, led by energy XLE +1.76% and utilities XLU +0.94%.

SPY up 1.39 at 288.57 on 48.9 million shares, 20% below average volume. Up on higher volume.

VIX down .76 at 12.82

Oil up 1.08 at 63.26

TLT up .16 at 124.03 on 6.3 million shares. 

CVX +1.30%, WBA +1.00%, led the DJIA, 24 advancers, +5

APA +6.59%, EOG +5.30% and APC +4.33%, led the SPX.

LBTYA +4.35%, NTES +3.68%, JD +3.27%, and CTRP +2.97%, led the NDX.

Long term up trend intact.  3-day short term trend is up.

Up: IWM, QQQ, SPY, DIA,

Down:

Breadth strengthened on Friday, as advancers led 2,065 to 792 on the NYSE and led 2,140 to 880 on the NASDAQ

The SPY MFC green line is pointed up at 96 and is bullish.  Did you see the gap and breakout today?

Uptrend sectors: XLRE, XLU, XLP, XLY, XLK, XLI, XLC, XLB,

Neutral sectors:  XLV, XLF, XLE,

Down trend sectors:

The 6-month intermediate trend is sideways.  The ten-day trend is up.

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

81 of 100 NDX stocks closed higher on Friday.

90 NDX stocks are above their 30 DMA:  CDNS, CTRP, PYPL, XLNX, MELI, ULTA, VRSN, INTU, KLAC, SNPS, MDLZ, PAYX, WLTW, CSX, ALXN, GOOGL, VRSK, ADP, CHKP, CSCO, FOXA, CMCSA, JD, AAPL, PEP, INTC, MSFT, COST, QCOM, XRAY, DLTR, ISRG, AMZN, NVDA, SYMC, NTAP, SBUX, ATVI, IDXX, NTES, TTWO, ALGN, AVGO, ORLY, AMD, EBAY, FISV, ADBE, ALXN, FAST, ILMN, LULU, MAR, PCAR, AMAT, AMGN, ASML, CELG, CERN, CTSH, FB, GILD, HSIC, LRCX, MU, ROST, SWKS, ADI, ADSK, BIDU, CTAS, MCHP, MXIM, NFLX, NXPI, TXN, WDC, WYNN, AAL, BMRN, BKNG, JBHT, LBTYA UAL, KHC, SIRI, CHTR, EA, HAS, VRTX,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 4

CHTR, EA, HAS, VRTX,

Moving Below 30 DMA = 0

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