Oil Lower...Futures Lower...SPY, QQQ Lower

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Oil -0.90 at 29.99...news sources reporting that lower oil indicate fresh concerns over slowing global growth and that is driving markets lower this morning...regardless of the reason selling is stronger than buying and the SPY broke its 187.06 support and has fallen to its 184.64 support level...the MFC green line turned down on Friday and traders should be defensive...


All sectors are lower this morning with XLE, XLF and XLY the weakest and XLU, XLP and XLB the strongest...

XLE's weakest include:  CHK, WMB, OKE, KMI, DVN, APC, MRO, MPC, ESV, TSO, RIG, VLO, MUR, CPGX

Stocks Fall After Jobs Report of 151K New Jobs Below Expectations...Be Defensive...

Are you interested in finding strong stocks?  If so, let us know of your interest at chartsignals@yahoo.com.  We can help you find leaders like: MAT, FAST, PCAR, DISCK, CMCSA, VZ, WMT, XOM, NEM, SWN, KORS, RRC, SE ...

One of nine sectors moved higher on Friday…XLU, XLP and XLI were the strongest sectors while XLY was the weakest sector.  Oil fell 69 cents to close at 31.00.

                         

Breadth weakened as decliners led advancers 3.23 to 1 on the NYSE and 4.50 to 1 on the NASDAQ.

Friday – weakened, decliners led

Thursday- strengthened, advancers led

Wednesday – strengthened, advancers led on the NYSE

Tuesday – weakened, decliners led

Monday – weakened, decliners led

SPY down 3.65 at 187.95 on 180.7 million shares, 15% above average volume

VIX up 1.54 at 23.38…

TNX down 0.16 at 18.48…

TLT up .15 at 128.72…on 9.2 million shares, 1% below average volume

XLF down .28 at 20.95…on 66.2 million shares, 9% above average volume

AAPL up 1.87 at 96.38 on 45.9 million shares, 14% below average volume

FB down 1.92 at 112.69 on 56.9 million shares, 63% above average volume

Technical Commentary:

DIA -1.34%, SPY -1.91%, IWM -2.74% QQQ -3.47%.

The NDX -143.30 fell below last week’s support low led by AMZN, MSFT, FB, GOOG, INTC, AMGN and ADBE which combined for -53 points on Friday.  AMZN, MSFT, GOOG, INTC and ADBE also closed below last week’s support low.

In 2015 QQQ led SPY and DIA with Friday’s selloff QQQ is down -10.5% year-to-date, significantly underperforming SPY and DIA.  On Friday twenty-seven NDX lost 5% or more including: TRIP, ADBE, TMUS, NFLX, NXPI, TSLA, NCLH, ADSK, WDC, SBUX, EXPE, AMZ, NVDA, SWKS,FB, AVGO, LVNTA, PYPL,VRTX, EA, LBTYA, CERN, ULTA, JD, INTU, ILMN and PCLN. 

Stocks below support should generally be traded bearishly until a reversal pattern forms.

Nine Dow stocks MRK, VZ, WMT, IBM, PG, XOM, CAT, PGE, and MMM rose on Friday.  This was in contrast to only seven NDX 100 stocks that rose on Friday. 

DIA closed well above last week’s support low while SPY closed at last week’s support low.  Be defensive if SPY breaks support at 187.06.  Next SPY support levels are 184.64 and 181.02.

Three sectors XLB, XLU and XLI rose for the week. 

XLB Materials was led by weekly gains in DOW, DD, MON, APD, PX, LYB and IP.

XLI Industrials was led by weekly gains in MMM, UNP and UPS.

YTD:

SPX Leaders:  NEM, SWN, KORS, RRC, SE, EXC, MAT, COG, CNX, M, ()

SPX Losers: MPC, ESV, URI, WMB, MRO, ADS, CHK, BWA, TRIP, RCL

NDX Leaders:  MAT, FAST, PCAR, DISCK, CMCSA, VIAB, FISV, XLNX, KHC, FB  ()

NDX Losers: BMRN, INCY, NCLH, TSLA, TRIP, VRTX, ILMN, NFLX, REGN, JD

DJI Leaders:  VZ, WMT, XOM, PG, MMM,

DJI Losers: AXP, CSCO, INTC, BA, GS, JPM, HD, DD, AAPL, DIS

Remember:  “It’s a market of stocks, not just a stock market.”

Trade with the trend of the chart you are trading and continue to move your profit protection stops.  Continue to follow your rules.

The SPX MFC green line is pointed down at 37. 

______________________

7 of 100 NDX stocks closed higher on Friday.

11 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 14

ADP, AMAT, AVGO, CERN, CHKP, INTU, ISRG, KHC, KLAC, LLTC, MYL, ORLY, ROST, STX

6-month Intermediate Term Market Trend: Neutral

3-day Short Term Market Trend: Down

DJIA Moves Higher...

Four of nine sectors moved higher on Thursday…XLB, XLI and XLF were the strongest sectors while XLP was the weakest sector.  Oil fell 1.06 cents to close at 31.69.

                         

Breadth strengthened as advancers led decliners 1.76 to 1 on the NYSE and decliners led 1.42 to 1 on the NASDAQ.

Thursday- strengthened, advancers led

Wednesday – strengthened, advancers led on the NYSE

Tuesday – weakened, decliners led

Monday – weakened, decliners led

Friday – strengthened, advancers led

SPY up .30 at 191.30 on 139.5 million shares, 9% below average volume

VIX up .19 at 21.84…

Technical Commentary:

DIA +1.01%, SPY +0.60%, IWM +0.13%, QQQ -0.48%.

The DJIA led the broad indices on Wednesday with large gains in MMM, BA, XOM, CVX, CAT, DD, DIS, AAPL and IBM. 

YTD:

SPX Leaders:  NEM, KORS, SWN, SE, RRC, MAT, COG, M, EXC, EQT (124)

SPX Losers: ESV, URI, MPC, BWA, ADS, LNC, LM, CHK, DLPH, RCL

NDX Leaders:  MAT, VIAB, FB, DISCK, FISV, XLNX, DLTR, KHC, CMCSA, ROST  (15)

NDX Losers: INCY, BMRN, NCLH, VRTX, TSLA, ILMN, TRIP, REGN, ALXN, JD

DJI Leaders:  VZ, WMT, XOM, MCD, MMM. PG, JNJ

DJI Losers: AXP, BA, INTC, CSCO, GS, JPM, DD, PFE, DIS, HD

Remember:  “It’s a market of stocks, not just a stock market.”

Trade with the trend of the chart you are trading and continue to move your profit protection stops.  Continue to follow your rules.

The SPX MFC green line is pointed up at 41. 

__________________

59 of 100 NDX stocks closed higher on Thursday.

25 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 6

AMAT, AVGO, CERN, ISRG, MYL, STX

Moving Below 30 DMA = 5

CHTR, CTSH, DLTR, SBUX, TSCO

6-month Intermediate Term Market Trend: Neutral

3-day Short Term Market Trend: Neutral

SPY Forms Doji, SPX Hammer, Buyers Appear at Short-term Support, Stocks Rise...

Six of nine sectors moved higher on Wednesday…XLE, XLB and XLI were the strongest sectors while XLY was the weakest sector.  Oil rose 3.04 cents at 32.75.

                         

Breadth strengthened as advancers led decliners 1.77 to 1 on the NYSE and decliners led 1.05 to 1 on the NASDAQ.

Wednesday – strengthened, advancers led on the NYSE

Tuesday – weakened, decliners led

Monday – weakened, decliners led

Friday – strengthened, advancers led

Thursday- strengthened, advancers led

SPY up 1.14 at 190.16 on 205.0 million shares, 34% above average volume

VIX down 0.30 at 21.65…

TNX up 0.17  at 18.81…

TLT down 1.07 at 127.95…on 123.4 million shares, 110% above average volume

XLF up 0.02 at 21.05…on 69.9 million shares, 22% above average volume

AAPL up 1.87 at 96.38 on 45.9 million shares, 14% below average volume

FB down 1.92 at 112.69 on 56.9 million shares, 63% above average volume

Technical Commentary:

DIA +1.01%, SPY +0.60%, IWM +0.13%, QQQ -0.48%.

The DJIA led the broad indices on Wednesday with large gains in MMM, BA, XOM, CVX, CAT, DD, DIS, AAPL and IBM.  

Oil rose on Wednesday to 32.75 and is down just 0.97 from last Friday’s close.

The NDX fell 21 points led by GOOG, AMZN, MSFT, MDLZ, FB, YHOO, and TSLA.

The SPX/SPY opened higher, sold off and rallied in the last two hours to close higher and form a dragonfly doji.

YTD:

SPX Leaders:  KORS, SWN, NEM, COG, M, SE, MAT, EQT, RRC, EXC (132)

SPX Losers: ESV, URI, FCX, CHK, BWA, OI, MRO, ADS, AA, RCL

NDX Leaders:  MAT, VIAB, FB, DISCK, FISV, XLNX, DLTR, KHC, CMCSA, ROST  (15)

NDX Losers: INCY, BMRN, NCLH, TSLA, TRIP, JD, VRTX, MU, ALXN, EXPE

DJI Leaders:  VZ, WMT, MCD, PG, JNJ, MMM, XOM

DJI Losers: AXP, BA, GS, CSCO, INTC, JPM, DD, UTX, DIS, IBM

Remember:  “It’s a market of stocks, not just a stock market.”

Trade with the trend of the chart you are trading and continue to move your profit protection stops.  Continue to follow your rules.

The SPX MFC green line is pointed up at 39.

__________________

Setups

Horizontal Breakout: RTN, JNJ, M, MNK, KSS, BA,

Diagonal Breakout: MU,

Bull Flag: SPY, QQQ, LLTC, XLNX, MXIM, LRCX, MCHP, ADI, CTSH, NVDA, MSFT, SWKS, GRMN, TXN, FINL, FAST, RTN, SERV, WMT, FB, ROST, VZ, COH, MCD, SBUX, AVGO, DPS, WYNN, DG, NKE

One Day: FL, DLTR

At Support: NFLX, AKAM, QCOM, MON, MS, NSC, QRVO

Moves

H Breakout: MMM, URBN,
Support Break: AMZN, BABA,   

______________________

49 of 100 NDX stocks closed higher on Wednesday.

24 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 6

CHTR, CMCSA, DISCA, FAST, INTU, KLAC

Moving Below 30 DMA = 3

GOOG, TMUS, VOD

6-month Intermediate Term Market Trend: Neutral

3-day Short Term Market Trend: Neutral

Oil Down...Stocks Pullback...KORS, MAT, GOOGL Gap Up...RCL, ADT, PBI, HRS GAP Down...

One of nine sectors moved higher on Tuesday…XLU, XLB and XLP were the strongest sectors while XLE was again the weakest sector.  Oil fell 1.78 cents to close at 29.54.

                         

Breadth weakened as decliners led advancers 3.97 to 1 on the NYSE and 3.83 to 1 on the NASDAQ.

Tuesday – weakened, decliners led

Monday – weakened, decliners led

Friday – strengthened, advancers led

Thursday- strengthened, advancers led

Wednesday – weakened, decliners led

SPY down 3.49 at 190.16 on 182.5 million shares, 19% above average volume

VIX down 2.00 at 21.98…

TNX down 1.02 at 18.64…

TLT up 2.35 at 129.02…on 10.3 million shares, 15% above average volume

XLF down .60 at 21.03…on 69.9 million shares, 22% above average volume

AAPL down 1.95 at 94.48 on 37.3 million shares, 32% below average volume

FB down .48 at 114.61 on 59.7 million shares, 82% above average volume

Technical Commentary:

DIA -1.78%, SPY -1.80%, QQQ -2.16%, IWM –2.16%.

Oil fell again on Tuesday to 29.54 and is down $4.03 from last Friday’s close.

The NDX fell 93 points led by MSFT, AMZN, QCOM, INTC, CMCSA, TXN, GILD, AMGN, TSLA, BIIB, BIDU, AAPL, ESRX, CELG, MDLZ, CTSH, FOXA, COST, ALXN and AVGO.

The SPX is pulling back from a higher high, watch for a potential higher low setup over the next two trading days.

KORS +9.67, +23.91%, gapped up on a positive earnings reaction.

MAT +3.70, +13.83%, gapped up on a positive earnings reaction.

MNK +3.55, +5.71%, gapped up on a positive earnings reaction.

GOOGL +10.14, +1.32%, gapped up on a positive earnings reaction.

RCL -12.82, -15.71%, gapped down on a negative earnings reaction.

ADT -4.63, -15.66%, gapped down on a negative earnings reaction.

PBI -2.70, -13.88%, gapped down on a negative earnings reaction.

HRS -8.48, -9.78%, gapped down on a negative earnings reaction.

YTD:

SPX Leaders:  KORS, M, COG, SWN, COH, MAT, NEM, EQT, Q, ED (113)

SPX Losers: ESV, URI, FCX, CHK, BWA, OI, MRO, ADS, AA, RCL

NDX Leaders:  MAT, FB, VIAB, DLTR, ROST, KHC, DISCK, XLNX, ORLY, PYPL (18)

NDX Losers: INCY, BMRN, ALXN, VRTX, NCLH, TRIP, MU, ADSK, REGN, TSLA

DJI Leaders:  WMT, VZ, MCD, PG, JNJ, NKE

DJI Losers: AXP, BA, CSCO, GS, DD, JPM. INTC, DIS, UTX, CAT

Remember:  “It’s a market of stocks, not just a stock market.”

Trade with the trend of the chart you are trading and continue to move your profit protection stops.  Continue to follow your rules.

The SPX MFC green line is flat at 36. 

__________________

Setups

Horizontal Breakout: JNJ, M, LLTC, MNK, URBN, KSS,

Diagonal Breakout: MU, QRVO,

Bull Flag: SPY, DIA, MMM, XLNX, SWN, MXIM, LRCX, MCHP, PG, ADI, CTSH, INTC, NVDA, MSFT, SWKS, GRMN, TXN, FINL, FAST, RTN, SERV,

One Day: QQQ, WMT, FB, ROST, VZ, COH, MCD, SBUX, AVGO, DPS, WYNN, DG, NKE

At Support: AMZN, NFLX, BABA, AKAM, QCOM, MON, MS, NSC

Moves

New Highs: FL,

H Breakout: DLTR, DD

Gap Up: KORS, MAT, GOOGL,

Gap Down: RL, ADT, PBI, HRS

Support Break: CCL, TRIP, SCHW,

______________________

2 of 100 NDX stocks closed higher on Tuesday.

21 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 1

MAT

Moving Below 30 DMA = 14

ADI, AMAT, AVGO, CHTR, CMCSA, DISCA, FAST, FOXA, HSIC, INTU, KLAC, MSFT, SRCL, TXN,

6-month Intermediate Term Market Trend: Neutral

3-day Short Term Market Trend: Neutral

QQQ Rises as SPY Pauses on Monday...GOOGL Gaps Up in Afterhours Trading...

Six of nine sectors moved higher on Monday…XLU, XLY and XLB were the strongest sectors while XLE was the weakest sector.  Oil fell 2.08 cents to close at 31.62.

                         

Breadth weakened as decliners led advancers 1.04 to 1 on the NYSE and 1.03 to 1 on the NASDAQ.

Monday – weakened, decliners led

Friday – strengthened, advancers led

Thursday- strengthened, advancers led

Wednesday – weakened, decliners led

Tuesday – strengthened, advancers led

SPY down .07 at 193.65 on 136.0 million shares, 10% below average volume

VIX down .22 at 19.98…

TNX down .35 at 19.66…

TLT down .63 at 126.67…on 9.9 million shares, 10% above average volume

XLF down .09 at 21.63…on 68.6 million shares, 20% above average volume

AAPL down .91 at 96.43 on 40.9 million shares, 26% above average volume

FB up 2.88 at 115.09 on 46.1 million shares, 40% above average volume

Technical Commentary:

QQQ +0.27%, DIA -0.02%, SPY -0.04%, IWM -0.46%.

Stock indices opened lower and tested Friday’s S1 before closing slightly lower.   QQQ finished higher on Tuesday due to strength in FB, GOOGL, GILD, QCOM, AVGO and PCLN.

GOOGL +32.26, +4.19%, gapped up in after-hours on a positive earnings reaction.

Remember:  “It’s a market of stocks, not just a stock market.”

Trade with the trend of the chart you are trading and continue to move your profit protection stops.  Continue to follow your rules.

The SPX MFC green line is pointed up at 36. 

60 of 100 NDX stocks closed higher on Friday.

34 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 5

AMAT, AVGO, CHKP, CHTR, HSIC

Moving Below 30 DMA = 2

MAT, MDLZ

6-month Intermediate Term Market Trend: Neutral

3-day Short Term Market Trend: Up