SPY, Euro, Financials Continue Rally...FB, AAPL Strong...YUM Gaps Lower in After-Hours...

All nine sectors moved higher on Thursday… XLV, XLB, and XLU were the strongest sectors. 

Breadth strengthened on Thursday as advancers led decliners …2.54 to 1 on the NYSE and 2.66 to 1 on the NASDAQ…

SPY up 66 cents at 142.12...volume 151 million shares…

VIX down 0.45 at 15.06…
TNX up .03 at 16.20…

TLT up 2 cents at 125.13…
XLF up 8 cents at 15.78…volume 39.6 million shares

AAPL up 6.42 at 589.36…volume 18.4 million shares …

FB up 96 cents at`27.32…on volume of 88.7 million shares…

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Technical Commentary:

The SPY formed a spinning top to above its 30 DMA, the VIX moved down and did confirm the SPY move up.

The ES closed up 9.25 at 1,416.00…NQ futures closed up 17.75 at 2,679.50.

The weight of the evidence continues to suggest the Nov 16 low is likely to hold and Thursday’s bounce continuation suggests continuation to higher levels.

The Euro closed up 20 pips at 1.2977 on Tuesday.

TNX, interest rates rose slightly and TLT, bonds moved up 2 cents.  XLF was up 8 cents to 15.78.

SPY – another high close above 30 dma

AAPL – spinning top higher close above 30 dma

FB – large white candle, new high close, BO continuation

FAS – doji, bull flag bounce 

AMZN – large white candle, BO continuation

EXPE – spinning top, BO continuation

STX – spinning top, new low

VIAB – spinning top, DBO continuation, close above 30 DMA

RIMM – gap black candle, bull flag bounce

CRUS – white candle, flag bounce continuation

F – large white candle, BO setup

PHM – spinning top, at 30 DMA

SWK –white spinning top, BO continuation above 30 DMA

SWI – white spinning top, BO setup

RAX – potential shooting star, BO setup above 30 DMA

URI – spinning top, BO setup above 30 DMA

YELP – bearish engulfing, pull back under 30 DMA

XHB – spinning top, above 30 DMA

XRT – doji holds above S1, above 30 DMA

BO = breakout, DBO = diagonal breakout, CT = counter-trend, IT = intermediate term

The Market Forecast Green Line is pointed up above the lower reversal zone.

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Chart Targets:

SPY = 141.68, 143.52 short-term resistance
ES = 1,414…1,425  fib extension

EUR/USD = 1.3020 short-term resistance

Short-term support at
1.2930, 1.2833 = Euro

139.57 = SPY

83.20 = SPXL
1,386.50 = ES
2,596 = NQ

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69 of 100 NDX stocks closed higher and 2 were unchanged on Thursday…

Leading NDX 100 stocks included: RIMM, BIDU, FAST, INFY, CTXS, MU, CTSH, SYMC, ESRX, MXIM

Lagging NDX stocks included: SHLD, INTC, NVDA, VRSN, BBBY, STX, SNDK, MSFT, SPLX, GMCR

Leading stocks > +2% on Thursday included:  LDK, MCP, ESI, SWKS, ZAGG, FB, CIEN, AKS, GRPN, ANR, F, UCO, CRUS

Lagging stocks < -2.0% included: TIF, CREE, YELP, CLF

Stocks to Watch on Friday…

Holding Above 30 DMA
YHOO, MYL, ORLY, CERN, NFLX, RIMM, XRAY, PCLN, SBUX, QCOM, HSIC, GILD, SPLS, NTAP, CSCO, EXPE, GMCR, VMED, ATVI, CHKP, EA, EXPD, LLTC, MNIM, PCAR, TXN,  XLNX, AMGN, BIIB, CELG, DLTR, EBAY, LIFE, SIAL, AMZN, BBBY, FISV, ADSK, ALTR, AVGO, CHRW, DELL, FFIV, MAT, MRVL, MU, ORCL, AAPL, BRCM, INFY, SRCL, BMC, COST, KRFT, MNST, ADBE, ALXN, CMCSA, FOSL, GOOG, GRMN, NWSA, SYMC, WYNN

Moving Above 30 DMA = 6

AMAT, CTSH, CTXS, NUAN, PAYX, VIAB

Moving Below 30 DMA = 2

LRCX, NVDA

Staying Below 30 DMA

ISRG, WFM, SIRI, KLAC, LINTA, SHLD, FLEX, STX, INTU, AKAM, GOLD, MCHP, MSFT, PNRA, SNDK, ADP, FAST, INTC, BIDU, ESRX, VRSN, APOL, VRTX, VOD, WCRX, DTV, CA, ROST

Fourteen Week Intermediate Term Market Trend: Neutral

Short Term Market Trend: Up