Bull Flag Bounce in SPY, FAS, AAPL as VIX Moves Lower...

Eight sectors of nine moved up on Thursday…XLE, XLK and XLB were the strongest sectors. 

Breadth strengthened on Thursday as advancers led decliners 3.04 to 1 on the NYSE and 2.71 to 1 on the NASDAQ… 

Exchange     NYSE    NASDAQ
Advancers    2,267      1,796
Decliners        744         662

SPY up +1.34 at 143.29...volume 111.8 million shares 
VIX down 1.97 at 14.84… 

TNX up +.22 at 16.40…
TLT down - .89 at 124.15…
XLF up +14 cents at 15.64…

AAPL up + 16.14 at 681.32…volume 21.2 million shares …

FB down -.30 cents at 20.32… volume 30.2 million shares…

The Market Forecast green line is pointed down out of the upper zone.

Technical Commentary:

The Euro bounced in its bull flag pattern on Thursday, which led to a falling dollar, rising interest rates, falling bonds, and a bull flag bounce for XLF and SPY as the VIX dropped confirming the SPY bounce.

New Chart Targets:

SPY = 147.88 2.61 Fib

ES = 1,466.00 2.61 Fib on ESZ2

EUR/USD = 1.3095 1.60 Fib, 1.3345 S&R Measuring.

Short-term support at
144.39, 143.09 = SPY
1,438.75, 1,421.50 = ES
2,802.50, 2,775, 2,750 = NQ

Setups:

Bull Flag: IWM, XLF, BAC, C, JPM, WFC, MS, STI, ZION, A, ANR, CLF, CMG, IBM, MCP, SLB, SOHU, SWK, TBT, TIF, UAL, BTU, WLT, JRCC, ACI, CA, FFIV, PNRA, QCOM, SHLD, FB, F, LNKD, PHM, EXPE, VRTX, PCLN, NTAP, INFY, ZION

At Support: SWI, JNPR, ISRG, TIF, VRTX, ORCL, FAST, SRCL, XLNX, MCHP, EA, SIAL, UAL, NTAP, ICE, SOHU, AKS, GES, ATVI, CREE

Gap Up: TPX

Bounce: CIEN, JDSU, UCO, CDE, Z, MXIM, SINA, VMW, GOLD, ATI, NUAN, CRM, FAS, GRMN, SHLD, FCX, INTC, GS, SLB, INFA, CTSH, SPY, FISV

LVS,

90 of 100 NDX stocks closed higher on Thursday…

Leading NDX 100 stocks included:  FSLR, GMCR, AVGO, MXIM, SIRI, EBAY, GOLD, BRCM, STX, NUAN

Lagging NDX stocks included: ATVI, COST, BIIB, BBBY, ALTR, KFT, ORLY, SRCL, MSFT, DTV

Leading stocks > +2% on Thursday included: TPX, CIEN, CRUS, JDSU, LDK, TSL, CDE, UCO, HLF, NTS, TSLA, GLW, SWI, SINA, SWKS, RVBD, VMW, ATI, CRM, FAS, WDC, ANR, SMH, FCX

Lagging stocks < -2.0% included: UAL, FAZ, ESI

Stocks to Watch on Friday…

Holding Above 30 DMA = 28

GS, RVBD, C, FAS, FCX, RCL, STI, BAC, CDE, SINA, F, ZION, LVS, LNKD, HUM, GLW, CMG, DE, DHR, IBM, SWK, V, FB, A CHL, GRPN, NTES, TLT

Moving Above 30 DMA = 9

ATI, CLF, CRM, INFA, JDSU, SOHU, TIF, TSL, VMW

Moving Below 30 DMA = 3

MCP, UAL, ZAGG

Staying Below 30 DMA

SWI, ANR, ESI, ICE, MOS, SLB, TBT, TSLA, ANF, CREE, CRUS, JNPR, URE, COH, CROX, NKE, TPX, VECO, CSTR, DECK, HLF, UCO, AKS, DLR, SMH, SWKS, X, WDC CIEN, GES, FAZ, LDK

Fifteen Week Intermediate Term Market Trend: Up

Short Term Market Trend: Neutral