SPY Closes Near Even, Euro, SPY Forning Bull Flag Pattern...

Four of nine sectors moved higher on Thursday…XLE, XLP and XLV were the strongest sectors. 

Breadth weakened on Thursday as decliners led advancers 1.56 to 1 on the NYSE and weakened and 1.67 to 1 on the NASDAQ… 

Exchange      NYSE    NASDAQ 

Advancers     1,173        908

Decliners       1,802      1,524

SPY up 1 cent at 146.71...volume 108.7 million shares 
VIX up .19 at 14.07…

Euro down 79 pips at 1.2968…

TNX down .05 at 17.77…

TLT up .30 at 121.41…

XLF down .09 cents at 15.95…

Gold down 1.20 at 1,770.70…

Oil up 93 cents at 92.96…

AAPL down 3.40 at 698.70…volume 12 million shares …

FB down.70 cents at 22.59… volume 57.2 million shares…

The Market Forecast green line is in the upper zone.

Technical Commentary:

The SPY and many ETF’s and stocks are forming bull flags this week.  Identify your entry signal and be prepared for a bounce.    

Friday is triple witching options expiration.

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:  SPY, IWM, XLF, FAS, BAC, C, JPM, WFC, GS, MS, STI, ZION, ANR, TIF, RVBD, FCX, JDSU, JNPR, CRM, SINA, SOHU, INFA, ICE, LVS, URE, VMW, ATI, CLF, SLB, MCP


49 of 100 NDX stocks closed higher on Thursday…

Leading NDX 100 stocks included: DLTR, ADBE, MNST, SIRI, NFLX, SBUX, MAT, ROST, ORLY, STX, KFT, EXPE, CMCSA

Lagging NDX stocks included: BBBY, GMCR, SHLD, RIMM, FSLR, AVGO, EA, FOSL, MU, BIDU, DTV, SRCL, MXIM

Leading stocks > +2% on Thursday included: ZAGG, UCO

Lagging stocks < -2.0% included: SWKS, DECK, CSTR, HLF, AKS, DLR, TPX, GRPN, X, MCP, FB, ANR, SOHU, VECO, ESI, URE, CREE. UAL

Stocks to Watch on Friday…

Holding Above 30 DMA = 51 
TIF, GS, RVBD, SWI, CRUS, FAS, FCX, STI, JDSU, C, RCL, BAC, CRM SINA, SOHU, CDE, F, ZION, ANF, INFA, ICE, LVS, LNKD, HUM, URE, GLW, COH, MOS UAL, ESI, DE, DHR, SWK, CMG, VMW, TBT, IBM, ATI, ANR, V, CLF, SLB, MCP, JNPR, ZAGG, FB, A, TSLA, CHL, GRPN

Moving Above 30 DMA =0

 

Moving Below 30 DMA = 6

CREE, CROX, NKE, NTES, TPX, VECO

Staying Below 30 DMA 
CSTR, UCO, X, AKS, DLR, GRPN, WDC, CIEN, TSL, GES, CHL, NTES, FAZ, LDK

Fifteen Week Intermediate Term Market Trend: Up
Short Term Market Trend: Neutral