IWM Leads Stocks...FB Gaps Down, Rallies...

Two sectors moved higher on Thursday… XLU, XLK and XLF were the strongest sectors.   XLB was the weakest sector. 

Breadth strengthened as advancers led decliners…1.09 to 1 on the NYSE and 1.61 to 1 on the NASDAQ…

Thursday – strengthened, advancers led

Wednesday – weakened, decliners led

Tuesday – strengthened, advancers led

Monday – weakened, decliners led on NYSE and advancers led on NASDAQ

Friday – strengthened, advancers led

Thursday – strengthened, advancers led

The chart continues to indicate that the uptrend is more likely to continue, stay prepared for a potential pullback.

SPY down 37 cents at 149.70...volume 108.9 million shares…

VIX down .04 at 14.28…
TNX down .21 at 19.85…

TLT up 57 cents at 117.32…
XLF down 1 cent at 17.38…volume 35.5 million shares

AAPL down 1.34 at 455.49…volume 11.4 million shares…

FB down 26 cents at`30.98…on volume of 190.7 million shares…

Look for stocks with good earnings and guidance to likely rise and those with either weak earnings or guidance likely to fall in price. 

Earnings to Watch this Week:

Monday – BMC, CAT, STLD, VMW, YHOO, ZION, STX

Tuesday – AKS, AMZN, BRCM, DHR, GLW, HOG, IP, BTU

Wednesday – BA, CTXS, EA, JDSU, QCOM, SWKS

Thursday – AET, MO, CTRP, MA, PCAR, POT, PHM, UA, VIAB, WHR

Friday – CVX, XOM, MAT, MRK, PRGO

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Technical Commentary:

The SPY formed a potential shooting star closing down 39 cents. IWM +0.69%, QQQ -0.22%, SPY -0.25% and DIA –0.34%, and AAPL shares moved down –1.34 forming a doji.  FB closed down 25 cents on better than expected earnings.

The Euro was up 12 pips to close at 1.3577 on Thursday in its strong uptrend.

Trade what you see on the chart of your position. Stay with the uptrend according to your rules.  If the stock begins to rollover protect your profits.

Disk storage stocks rose, WDC +0.32% and STX +0.27%.

Coal stocks ANR, ACI, CNX, BTU, WLT, and JRCC moved higher.

The Market Forecast Green Line is in the upper reversal zone. 

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Setups

Breakout:  COST, ADI

Diagonal Breakout:  BAC, SBAC

Bull Flag: CERN, MOS, MON, C, MGM, STI, CRM, FFIV, AVX, NIHD, XRX, TEX, SHLD, SINA, SWK, CHK, HES

Gap Up:  QCOM, CTXS, JDSU, SWKS

Gap Down:   FB

Moves

Gap Up:  FTNT, PBI, JDSU, WMS, MJN, SWKS, TSCO, CTXS, CLB, QCOM, LVS

Gap Down:  CBT, TWC, HAR, DOW, RMD,

Breakout:  VIAB, ZION, CLF, FAST, FIVE, TIF, GS

 

Bounce:  RSH, ZNGA, GMCR, JNPR, ESI, LIFE, BPOP, NUAN, STRZA, UNG,

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45 of 100 NDX stocks closed higher on Thursday…

Leading NDX 100 stocks included:  CTXS, QCOM, CHKP, AVGO, VIAB, SNDK, FOSL, MAT, WYNN, SHLD, PRGO, PAYX, WFM

Lagging NDX stocks included:  BRCM, AMZN, YHOO, CMCSA, PCAR, DTV, CTRX, INTC, NTAP, CHRW, MSFT, ALXN, PCLN, ADI

Leading stocks> +2% on Thursday included: JDSU, SWKS, LDK, CIEN, LVS, ESI, GRPN, TSL, YELP, JNPR, ANR, CLF, GMCR, GES

Lagging stocks < -2.0% included:  RIMM, DLR, RCL, TPX, NTES, HLF

Stocks to Watch on Friday…

Holding Above 30 DMA = 76
SBUX, CSCO, VMED, EXPD, LLTC, PCAR, XLNX, TXN, ADI, SIAL, ADSK, DELL, FFIV, ORCL, COST, NWSA, DISCA, AMAT, CTSH, FOSL, KLAC, VIAB, NUAN, STX, LBTYA, WDC, CHKP, FAST, MCHP, SNDK, EQIX, STRZA, CTXS, CHRW, SIRI, BIDU, VRSK, ADP, AMZN, EBAY, EXPE, LINTA, MU,  SRCL, SYMC, VRTX, WYNN, FB, CA, CELG, GILD, HSIC, INTU, LIFE, PCLN, QCOM, MDLZ, CTRX, ROST, SPLS, AVGO, ATVI, SHLD, MSFT, MYL, NTAP, MXIM, CERN, WFM, XRAY, VOD, DLTR, ISRG, GOOG, ORLY, BBBY, BIIB, MAT, PAYX, AMZN                                                            

Moving Above 30 DMA =3

AKAM, CTXS, QCOM                                  

               

Moving Below 30 DMA = 5

 CMCSA, DTV, FISV, INTC, YHOO                                                                                                                                         

Staying Below 30 DMA

ADBE, AMGN, VRTX, SBAC, BMC, BRCM, NVDA, ALTR, ALXN, ESRX, PRGO, REGN, GRMN, MNST, AAPL, GOLD

Nine Week Intermediate Term Market Trend: Up

Short Term Market Trend: Up