Two of nine sectors moved higher on Thursday …XLU, XLV and XLY were the strongest sectors while XLI was the weakest sector. Oil futures fell 1.12 to close at 44.54.
Breadth weakened as decliners led 1,719 to 1,254 on the NYSE and led 1,599 to 964 on the NASDAQ.
Thursday – weakened, decliners led, +2
Wednesday – strengthened, advancers led, +6
Tuesday – weakened, decliners led, +2
Monday – strengthened, advancers led, +7
Friday – weakened, advancers led, +2
SPY down .82 at 216.26 on 67.5 million shares, 35% below average volume
VIX up .97 at 12.74
TLT up .28 at 138.56…on 10.3 million shares, 12% above average volume
QQQ -0.23%, SPY -0.38%, DIA -0.43%, IWM -0.47%,
SPY, DIA, XLI, XLY, XLP, XLU, XLY near all-time high bull flag
XLV new YTD high close
QQQ, IWM, XLB, XLE, XLF bull flag
SPY, DIA, QQQ and IWM pulled back on Thursday. DIA slumped with 24 stocks moving lower with weakest stocks INTC, AXP, NKE, GS, HD and BA. Just six stocks rose MCD, CAT, DD, PFE, JNJ and MRK.
SPY volume was again light on Thursday.
Consider moving up stops on short term bullish trades that could pull back. All according to your profit protection rules.
Remember breakouts typically test about 70% of the time.
EBAY +2.94, +10.89%
URI +6.39, +9.15%
BIIB +20.04, +7.64%
QCOM +4.11, +7.36%
INTC -1.42, -3.98%
TSCO -3.39, -3.64%
NUE -1.77, -3.27%
AMD +0.59, +2.09%SWKS -3.33, -4.70%
Positive Reactions: EBAY, BIIB, QCOM, AMD
Negative Reactions: INTC, TSCO, SWKS
Technical analysis based trades should be closed before earnings. After-hours
Trade what you see, not…
Stocks below support should generally be traded bearishly until a reversal pattern forms.
Strong Stocks: Setups and Moves You Can Use
Bull Flag Setups include: AA, X, EQR, ATI, NEM, SYK, O, KIM, AES, MNST, GPRO, SCHN, AAL, ADI, AMAT, COST, INTC, LMT, AMBA, MSFT, JD, ESRX, TMUS, OKE, NKE, CCI, AWK, BCR, AIV, MDLZ, CMCSA, EA, NEE, SWN, KHC, WDC, CA, INTU, NI, PNW, CF, EIX, RIG, NFX, ATVI, MAT, NCLH, PAYX, DVN, CINF, CVX, NKE,
VRSK, NUE, STLD, PCLN, FISV, ADP, TRIP, CCL, ORLY, CSX,
Bull Flag Bounces include: MAR, CMS, VIAB, FOSL, WEC,
Horizontal Breakout Setups include: SPG, FB, NVDA, LRCX, NXPI, TSLA, PYPL, NTES, DLTR, AKAM, VTR, NTAP, CNP, BMRN, UNH, SE, ADSK, CTXS, UDR, SBUX, EW, N, AMZN, IRM, RCL,
Horizontal Breakout include: BXP, CBG, KMX,
New Highs include: EBAY, URI, KMX, QCOM, BIIB, GGP, HCN, STX, GPS, JNJ, CBL, REGN, ROST, CSCO, EXPE, TXN, ULTA, CPA, MAC, DHI, CERN, MLM,
Trade with the trend of the chart you are trading and continue to move your profit protection stops. Continue to follow your rules.
The SPY MFC green line is in the upper zone at 95, bullish.
27 of 100 NDX stocks closed higher on Thursday.
88 NDX stocks are above their 30 DMA.
NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 1
Moving Below 30 DMA = 4
CHKP, EA, TSCO, WBA
6-month Intermediate Term Market Trend: Up3-day Short Term Market Trend: Neutral