Stocks Continue Pull Back And Finish Lower On Iraq Concerns...Oil Has Highest Close In 9 Months...SFUN Down 17.01%...

Only two out of nine sectors moved higher on Thursday…XLE, XLU and XLV were the strongest sectors…XLI was the weakest. 

 Breadth was mixed…as decliners led advancers 1.41 to 1 on the NYSE and 1.82 to 1 on the NASDAQ.

Thursday – mixed, decliners led

Wednesday – weakened, decliners led

Tuesday – weakened, decliners led

Monday – weakened slightly, advancers led

Friday – weakened, advancers led

SPY down 1.38 at 193.54 on 106.1 million shares, above average volume

VIX up .96 at 12.56…

TNX down .54 at 25.86…

TLT up .99 at 112.21...

XLF down .14 at 22.60 on 30 million shares

AAPL down 1.57 at 92.29 on 54.6 million shares

FB down 1.49 at 64.29…on 55.6 million shares

Technical Commentary:

SPY – 0.71%, DIA – 0.63%, IWM – 0.61%, QQQ – 0.54%.

Trade with the trend of the chart you are trading and continue to move your protective stops.  Continue to follow your rules.

Short-term up trend Chart Targets:

SPY = 194.89, 198.09 …

QQQ = 93.56, 96.39…

IWM = 116.57, 118.62…

Support Levels

SPY = 191.96, 190.88, 189.81…

QQQ = 91.34, 90.44…

IWM = 115.02, 113.84…

Q1 Earnings Reactions

Positive Reactions – CIEN, BIG, PANW, GLNG, QIHU, AAPL, ADSK, AET, ALL, ALXN, AMAT, ANGI, ANR, APA, ATVI, BA, BHI, BIDU, BTU, BWLD, BX, C, CHRW, CNX, COG, CTRP, CTRX, CTXS,  DAL, DAVE, DDS, DECK, DHI, DNB, DO, DTV, DV, EA, ENR, ETFC, FCX, FISV, FNMA, FOXA, GE, GILD, GMCR, GME, GOGO, GRMN, HAL, HAS, HOG, HPQ, HUM, IBKR, INTC, JCP, JNJ, KO, LPNT, LRCX, LVLT, MA, MAR, MGM, MNST, MRK, MS, NOK, NTAP,NXPI, PBI, PCLN, POT, PRU, RF, S, SCHW, SCTY, SNDK, SPWR, STI, SWK, SWKS, TKR, TMUS, TPX, TRIP, TRV, TSL, TSO, TWX, UNP, URI, UTHR, VRSK, WFC, WLP, WYNN, XRX, YELP, YHOO, Z

Negative Reactions – KKD, SPLK, ACI, ADM,  AEIS, AIG, AKAM, AKS, ALTR, AMGN, AMZN, ARWR, ATI, BAC, BBRY, BIIB, BMY, BRCM, CAR, CBOE, CELG, CHKP, CLF, CLX, COF, CREE, CTSH, DDD, DIS, DISCA, DISH, DKS, DVA, EBAY, ESI, ESRX, EXPE, F, FAST, FEYE, FFIV, FXCM, GOOG, GRPN, IBM, JAZZ, JCI, JDSU, JPM, K,  KLAC, KMB, KRFT, LLTC, LLY, LNKD, LVS, LXK, MCP, MMM, MOS, MTW, MU, MXIM, NKE,NSC, NUE, NVDA, P, PCAR, PFE, PG, PNRA, PRGO, QCOM, REGN, SAVE, SEE, SFUN, SIRI, SOHU, SPLS, SSYS, STLD, STT, STX, SUNE, SWI, T, TJX, TSLA, TSN, TWTR, UA, UBNT, UNH, UPS, V, VECO, VIAB, VMW, VRTX, VZ, WDC, WFM, XLNX, YNDX, YY, ZION, ZNGA,

Reversal in progress – AEIS, AMGN, BRCM, CHKP, CTSH, EXPE, FEYE, GRPN, KLAC, KMB, LLTC, LXK, MOS, NUE, PCAR, STLD, WDC, ZION

Reversal of Initial Reaction – ADM, AIG, AKAM, AKS, ARWR, ATI, BAC, BMY, BRCM, CAR, CELG, COF, DDD, DIS, DISCA, DVA, ESRX, F, FFIV, IBM, JCI, K, KRFT, LLY, LNKD, LVS, MMM, MU, NKE, NSC, NUE, NVDA, PG, PRGO, QCOM, SAVE, SIRI, SOHU, STX, SUNE, T, UPS, VIAB, VMW, VZ, YNDX, YY, ANGI, ANR, BTU, COG, DECK, ETFC, RF, SCHW, SWK, INTC, YHOO

The SPY Market Forecast green line is in the upper zone at 91.

____________________

Setups

Horizontal Breakout: BX, LNKD, SOHU, UBNT, YELP, Z, BBRY, YOKU, AKAM, GMCR, MNST, MYL, TXN, YHOO,  

Diagonal Breakout: CRM, FSLR, SCTY, SPLK, SSYS,  

Bull Flag: AIG, BAC, C, CIEN, DAL, FAS, IWM, MFRM, MS, SCHW, SPY, STI, TPX, ZION, AAPL, ADSK, CELG, CMCSA, GRMN, INTC, NFLX, SBUX, STX, TRIP, WDC,

Potential Bullish Divergence:    

Gap Up:    

Gap Down:

Bear Flag: 

At Support: COST, CTSH,       

C- Pattern: 

Moves

New Highs: BRCM,    

H Breakout: GTAT, NTES, SPWR, UNG, UPL, BBRY, JDSU,    

Diagonal Breakout:    

Bull Flag Bounce: 

Gap Up: AAL,    

Gap Down: SFUN, UAL,     

Breakout Test:  

Bounce: JASO, UNG, UPL, QCOM,  

MACD Divergence Bounce:  

Bear Flag:    

Support Break: QCOM, GLW, HOG, ROST,    

C- Pattern: 

      

______________________

22 of 100 NDX stocks closed higher on Thursday and one was unchanged.

Leading NDX 100 stocks included: GMCR, WFM, ISRG, MYL, NVDA, REGN

Lagging NDX stocks included: ILMN, AMZN, NXPI, EXPE, LBTYA, FB, WYNN

Leading stocks > +2% on Thursday included: UNG, NTES, UPL, UBNT, SPWR, JASO, BBRY, TWTR, SPLK,

Lagging stocks < -2.0% included: SFUN, JD, UAL, DAL, AAL, RCL, GME, MTW, HOG, X, ETFC 

Stocks to Watch on Friday

Holding Above 30 DMA= 79

MAR, CHRW, EXPD, SIAL, MU, SNDK, CHTR, AAPL, CTXS, ADP, CELG, EQIX, NXPI, AVGO, SBAC, ATVI, KRFT, FOXA, GMCR, ALXN, CTRX, ILMN, ADSK, NFLX, CSCO, ADBE, AMAT, HSIC, INTU, MSFT, MXIM, BIDU, CMCSA, FFIV, TRIP, BRCM, GOOG, SIRI, AKAM, AMGN, BIIB, ESRX, EXPE, LLTC,PCLN, SBUX, VRTX,

VIAB, FB, ALTR, CERN, DLTR, NTAP, TXN, DISCA, REGN, TSLA, AMZN, GRMN, KLAC, NVDA, ADI, INTC, LINTA, MYL, STX, WDC, VIP, COST, ORLY, SRCL, FAST, ISRG, LMCA, TSCO, CHKP, YHOO, WFM, MNST

Moving Above 30 DMA = 1

XLNX

Moving Below 30 DMA = 7

GILD, MAT, PAYX, PCAR, MDLZ, LBTYA, VRSK                

Staying Below 30 DMA

FISV, SYMC, BBBY, CTSH, DTV, QCOM, ROST, CA, WYNN, DISH, SPLS, VOD, EBAY

Sixteen Week Intermediate Term Market Trend: Up

3-Day Short Term Market Trend: Down