S&P 500 At Record High...RCL & FB Gap Up And Close At Record Highs...Z Closes Up 15.25%...ANGI Earnings Disappoint And Closes Down 19.27%...In After Hours Trading After Posting Huge Loss AMZN Off 10.14%...

Six of nine sectors moved higher on Wednesday… XLU, XLP and XLF were the strongest sectors…XLI was the weakest sector.

Sector Posture – seven sectors are positive 

Positive trend: XLB, XLE, XLF, XLK, XLP, XLV, XLY

Neutral trend near resistance: XLI, XLU

Neutral trend near support:

Breadth weakened as decliners led advancers 1.13 to 1 on the NYSE and 1.19 to 1 on the NASDAQ.

Thursday – weakened, decliners led

Wednesday – weakened, mixed

Tuesday – strengthened, advancers led

Monday – weakened, decliners led

Friday – strengthened, advancers led

SPY up .01 at 198.65 on 56.3 million shares, below average volume

VIX up .32 at 11.84…

TNX up .45 at 25.09…

TLT down .86 at 114.32...

XLF up .05 at 23.02 on 19.9 million shares

AAPL down .16 at 97.03 on 45.6 million shares

FB up 3.69 at 74.98…on 123 million shares, over triple the average volume

Technical Commentary:

SPY + 0.01%, DIA – 0.07%, QQQ – 0.11%, IWM – 0.20%.

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

Short-term up trend Chart Targets:

SPY = 198.12, 199.06…

QQQ = 96.31, 97.52, 98.28

IWM = 116.46, 119.09…

Support Levels

SPY = 196. 59, 194.13, 193.11…

QQQ = 93.57, 91.73, 90.44…

IWM = 114.66, 113.16…

Earnings this week:

Monday – HAL, HAS, PETS, STI, CMG, NFLX, STLD, TXN, ZION 

Tuesday – ATI, MO, KO, CMCSA, DD, HOG, KMB, LXK, LMT, MCD, BTU,  RF, STT, TRV, UTX, VZ, AAPL, BRCM, EA, HTZ, ISRG, JNPR, LLTC, MSFT, NBR, VMW, XLNX

Wednesday – APD, BIIB, BA, CHKP, DAL, DOW, FTI, GD, NSC, RHI, WHR, ANGI, T, CA, CRUS, CTXS, ETFC, FFIV, FB, FCX, GILD, ILMN, NXPI, ORLY, QCOM, TSCO, TRIP

Thursday – MMM, ALK, ALXN, BMY, CAT, CELG, CNX, DNKN, F, GM, DHI, JBLU, LLY, LUV, NOK, NUE, OSTK, POT, PHM, SIAL, NDAQ, UA, UNP, UAL, AMZN, BIDU, DECK, KLAC, MXIM, P, SBAC, SWI, SBUX, SRCL, TPX, V,

Friday – MCO, SWK, STO, WLB, XRX

Q2 Earnings Reactions

Positive Reactions – CMG, BIIB, ISRG, AAPL, APD, CHKP, CMCSA, DAL, DOW, FTI, GD, LXK, LMT, NBR, PETS, RHI, STLD, TXN, WHR, ZION, BX, C, GOOGL, GS, HON, INTC, KSU, JPM, PM, SCSS, SWKS, URI, AA, STZ, APOL, BKS, KBH, MON, MU, NKE, SCHN,

Negative Reactions – ATI, BA, EA, HAS, HOG, JNPR, KMB, KO, LLTC, MCD, NFLX, STI, TRV, UTX, XLNX, AMD, BAC, BHI, JCI, JNJ, LVS, MAT, SLB, SNDK, STX, USB, YHOO, FAST, FDO, CAMP, BBBY, GIS, CCL, WAG,

Reversal in progress – GIS, YHOO,

Reversal of Initial Reaction – BBBY, APOL, KBH, MON,

The SPY Market Forecast green line is in the upper zone at 92.

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Setups

Horizontal Breakout: BBY, DAL, FAS, GLW, IBM, SCHW, SCSS, SCTY, SWI, TPX, TWTR, V, SPLK, SSYS, YELP, CMCSA, COST, CTSH, FFIV, MU, TSLA,

Diagonal Breakout: VRSN, ESRX, PCLN,  

Bull Flag: SWKS, INTC,   

Potential Bullish Divergence: 

Gap Up:  

Gap Down:  

Bear Flag: 

At Support: AAL, ATI, JASO, MTW, SUNE,   

C- Pattern:

Moves

New Highs: MAR, Z, FB, RCL,   

H Breakout: GME, UAL, Z, LNKD, MFRM, PANW, WLT, GRMN, NTAP, ROST, SBUX,  

Diagonal Breakout: AIG, Z, ADBE, AKAM, MNST, WFM,

Bull Flag Bounce: 

Gap Up: NKE, RCL, BIDU, CTRX, FB, YHOO,  

Gap Down: GLD, ANGI, QCOM,  

Breakout Test:

Bounce: BBRY, STI, VRSN, JCP, JNPR, ZION,    

MACD Divergence Bounce: UNG,

Bear Flag: 

Support Break: ETFC, JDSU, TRIP, TXN,  

C- Pattern:

      

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

Leading NDX 100 stocks included: TSCO, FB, CA, CTXS, YHOO, ORLY, ISRG, AKAM, FFIV, BIDU, CHKP

Lagging NDX stocks included: QCOM, TRIP, ILMN, CELG, ALXN, VRTX,

Leading stocks > +2% on Thursday included: Z, RCL, BBRY, P, FEYE, JD, SCTY, GME, VRXN, TWTR, LNKD, JNPR, JCP, PANW, MFRM

Lagging stocks < -2.0% included: KNDI, DAL, AAL, ETFC, UAL, ANGI, VJET, XONE

Stocks to Watch on Friday

Holding Above 30 DMA= 63

CHRW, SIAL, MU, CHTR, ADP, EQIX, ATVI, CSCO, ADBE, INTU, MSFT, BIDU, CMCSA, BRCM, GOOG, SBUX, KLAC, INTC, STX, WDC, LMCA, SYMC, DTV, VRTX, FISV, GILD, SBAC, MDLZ, NTAP, EBAY, VRSK, COST, PCAR, PAYX, AMZN, DISCA, CTRX, FB, BBBY, MYL, CERN, SIRI, AAPL, ADSK, CELG, CTSH, EXPD, EXPE, MAR, REGN, SPLS, ALXN, AMGN, CTXS, FFIV, LINTA, PCLN, VOD, WYNN, BIIB, CHKP, DLTR, ISRG

Moving Above 30 DMA = 5

CA, HSIC, ORLY, TSCO, YHOO

Moving Below 30 DMA = 5

AVGO, DISH, ILMN, QCOM, TRIP

Staying Below 30 DMA

ALTR, GMCR, KRFT, LLTC, NXPI, TXN, VIAB, XLNX, AMAT, NFLX, SRCL, LBTYA, NVDA, VIP, SNDK, AKAM, FOXA, MAT, MNST, TSLA, ADI, ROST, GRMN, FAST, MXIM, ESRX

Sixteen Week Intermediate Term Market Trend: Up

3-Day Short Term Market Trend: Up