SPX Inches Higher Following NFLX, CAT, MCD Earnings...

The SPX rose +2.09 or +0.18% on Thursday forming a doji after Wednesday’s support bounce. The SPX closed above its 1,170 support level.  Advancers barely led decliners 1.04 to 1 on the NYSE…

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Exchange     NYSE    NASDAQ

Advancers    1,518       1,016

Decliners      1,459       1,615

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Index     Direction    Confirmation

VIX         Down           Yes – SPX

SOX        Down           No – COMPQ

Leading stocks on Thursday included NFLX, STI, DHR, PCP, VMW, TBT, ICE, GR, PNC, MCD, SINA, FCX, MA, DOW, WMT, NTRI, AMD, FFIV, CRM, DE, FLS, BUCY, UAL, RVBD, AMX, WHR, POT, GME, ACN, FAZ, AGU, JEC, A, BA

Losing stocks included CRUS, UCO, TSL, HSY, UNG, BAC, SNDK, AKS, CREE, MHS, SKX, USO, NETL, X, SWK, ATI, CLF, VOD, DECK, LVS, CHL, GES, TIE, CAT, HAS, TLT, HLF, CSTR, PCLN, ZION, BYI, VECO, MOS, CAM, CMG, ESI, WLT, GMCR, NDAQ, UNP, SWN, FAS, IPI, RMBS

Interest rates rose, bonds fell, the EURO pulled back, the SOX closed lower and the VIX closed lower -0.52 at 19.27.

Five of nine sectors moved higher on Thursday with Industrials XLI +0.81% and Consumer Discretionary +0.58% leading all sectors.

The SPY rose +0.26 making a new intraday high and closing 28 cents above the high of the low day which was Tuesday.

HSY’s bull flag bounce failed in reaction to earnings.

Wednesday’s Bull Flag entries AGU, LVS, VOD, AIV, DOW, WLT, IPI, FLS, DE, AMX, FDX, ATI, SPG, HANS, MOS, WFMI, CF, BA, paused on Thursday and provided a second entry opportunity.

Bull Flag Entries on Thursday – DHR, FCX, GR, MCD, TBT, UAL, UPS

Bull Flag Patterns to Watch on Friday – SWK, HLF, SINA, HAS, PCLN, JEC, GES, USD, DECK, UCO, UNP, VECO, SNDK, CMG

SPX

Resistance: 1,182, 1,190

Support: 1,170, 1,148, 1,130

Enter bullish trades with a bounce off support and a break above the high of the low day or a break out of horizontal resistance.

Enter bearish entry signals on a close below of the low of the high day or a bounce down from resistance on stocks that are closing below support.

The short term 3 day trend is neutral.

The three-month trend is neutral.

The twelve-month trend is up.

Continue to focus on and trade setups on the charts of the stocks you watch. Trade with the trend of the chart and follow your rules.

AAPL +1.04 –black spinning top

QCOM -0.40 – hammer

GOOG +4.01 –doji

BIDU +2.47 – hammer

NDX 100 stocks stronger than the NDX include FLIR, EBAY, AMZN, CTXS, EXPE, BIDU, AKAM, WYNN, GILD, COST, ATVI, SIAL, CTSH, IACI and SPLS.

Stocks weaker than the NDX: XLNX, VRTX, ADBE, NVDA, WCRX, APOL, GRMN, TEVA, NTAP, HOLX, BRCM, PCLN, FWLT, ILMN and ISRG.

Stocks to Watch on Friday

Holding Above 30 DMA

HLF, PCLN, AGU, MCD, LVS, CMG, FCX, SINA, VOD, AIV, DE, DHR, DOW, UNP, URE, WLT, A, HAS, IPI, JEC, LXK, CAT, ICE, FLS, ATW, ACN, AMX, GES, NDAQ, UAL, USD, MA, HSY, CHL, FDX, NTRI, AMD, V, ATI, BA, DECK, GR, UCO, USO, WHR, CF, GS, SPG, HANS, MOS, SWN, UPS, VECO, CSTR, RVBD, TBT, WFMI, NYX, ZION, BUCY, FAS, NFLX, NTES, PCP

Moving Above 30 DMA = 3

PNC, STI, WMT

Moving Below 30 DMA = 6

BYI, CLF, MHS, SKX, SNDK, SWK

Staying Below 30 DMA

CREE, AKS, NETL, TIE, FAZ, POT, RMBS, TSL, ESI, BAC, GME, CRUS, X, FFIV, TLT, DLR, VMW, CRM, GMCR, UNG

Intermediate Term Market Trend: Neutral

Short Term Market Trend: Neutral