FAST +2.50,
+6.28% on 5 million shares following EPS beat,
revenue miss.
JPM and WFC will report on Friday morning before the open.
Breadth
weakened as
decliners led advancers 1.71 to 1 on the NYSE and 1.38 to 1 on the NASDAQ.
Exchange NYSE
NASDAQ
Advancers 1,108 1,026
Decliners 1,896 1,426
SPY moved down 65 cents to 133.51 on 143.5 million shares, closing
above its 30 DMA for the twelfth consecutive day. The SPY closed 49 cents above its
30 DMA. The SPX moved
down -6.69 at
1,334.76.
The
Market Forecast green line is pointed down
today.
AAPL
down -5.53 at 598.90 on 15.3 million shares
formed a hammer...
FB
down 16 cents at 30.81 on volume of 11.3
million shares...
GRPN
+0.21, +2.70%…
Chart Patterns
Daily
Bull Flags Setups: CSTR,
FMC, ALXN, BIIB, SHW, DIS, AKAM, DE, MLNX, HSY, DIA, SPG, ADP, CL, IWM, VMED, SPY, UCO, FISV,
AAPL, COST, COP, QQQ, VRSN, AVGO, PCLN, TFM, DTV, AMZN, POT, GMCR, ZAGG,
NVDA, VECO, COF, GE, LLTC, INTU, MU, MOS, FAS, X, C, EXPE, GOOG, SHLD, ALGN, AKS,
Flag Bounce: LNG, VMI, ROST, LEN, URE, NFLX, TSLA,
Flag Bounce Pullback:
Breakout: FAST, MCD
Breakout Pullback:
Breakout
Continuation: KMB,
Breakout
Setup: ESRX,
MNST, GOLD,VRSN
Support
Bounce: MTW,
ADSK, CROX
At
Support: CIEN,
EBAY, VMW, CRUS, APOL, GLW, ULTA, KLAC, MCP, CTXS, F, MCHP,
Break
of Support:
JDSU, ALTR, AMAT, MRVL,
MACD Divergence: DLTR, QCOM, BIDU
Technical Commentary:
The
SPY, DIA, QQQ and IWM gapped lower before finding support around 10:45 ET and
then rallied closing above their lows.
The SPY and DIA formed spinning tops while QQQ and IWM formed
hammer candles. AAPL formed a hammer
for the second straight day. , NFLX +4.08% breakout setup and ROST +1.38% gave a bull flag entry.
Stay with the trend and watch for a potential bounce entry on Friday or Monday
until price breaks support.
Thursday Highlights:
SPY
closes down 65 cents
The
Euro moved down 36 pips, closed at 1.2199
TNX
-0.19
VIX
gained +0.38 at
18.33
XLF
down 15 cents at 14.31
26 of 100 NDX stocks closed higher on Thursday…
Leading NDX 100 stocks included FAST, NFLX, ORLY, ADSK, LIFE, WCRX, FOSL, SIRI, TEVA,
ROST
Lagging NDX stocks included INFY, SHLD, FSLR, WYNN, EXPE, SYMC, CTRP,
INTC, CSCO, HSIC
Leading stocks > +2% on Thursday included SINA, CROX,
TSLA, LNKD, GRPN, VMW
Losing stocks < -2.0% included TSL, LVS, UAL, JDSU, AKS,
ESI, GES, C, ZAGG, X, F, RCL
Stocks to Watch on Friday
Holding
Above 30 DMA = 23
ICE,
CSTR, DLR, HLF, URE, MOS, V, UAL, CHL,
DE, FAS, STI, AKS, X, ANF, ATI, SLB, VECO, TSLA, TLT, WDC, LNKD,
UCO
Moving Above 30 DMA = 0
Moving Below 30 DMA = 5
ESI, GS, ZION
Staying
Below 30 DMA
CIEN, GES, ZAGG, FCX, RCL, BAC, CREE, JDSU, LDK,
MCP, SMH, CLF, CRM, CROX, CRUS, DHR, GLW, IBM, INFA, NTES, SWI, SWKS, TSL, A,
C, CDE, SOHU, SWK, TBT, HUM, CMG, SINA, F, RVBD, GRPN, FAZ, NKE, LDK, VMW, TIF, ANR, JNPR, LVS, TPX, COH
Four
Week Intermediate Term Market Trend:
Up
Short Term
Market Trend: Down
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