Stocks Close Mostly Up...NKE Is "Just Doing It"...Closing At Another New Record High...PCLN Gaps Up To Also Set Record New High...ETSY Slumps After Earnings...Off - 28.34%...

Seven sectors moved higher on Wednesday…the strongest sectors were XLK, XLP and XLV…the weakest sector was XLY.

Breadth strengthened as decliners led advancers 1.01 to 1 on the NYSE and 1.33 to 1 on the NASDAQ where advancers led decliners.

Wednesday – strengthened, mixed

Tuesday – strengthened, decliners led

Monday – weakened, decliners led

Friday – strengthened, advancers led

Thursday – weakened, advancers led

SPY up .69 at 210.07 on 85.5 million shares, below average volume

VIX down .49 at 12.51…

TNX up .57 at 22.68…

TLT down .92 at 121.65…

XLF up .10 at 25.24…

AAPL up .76 at 115.40 on 99.2 million shares, double average volume

FB up 2.38 at 96.44 on 29.7 million shares

Technical Commentary:

DIA +0.02%, IWM +0.23%, SPY +0.33%, QQQ +0.77%.

Earning announcements continue to generate buying and selling depending on institutional expectations and results.  As with every earnings season there are many winners and many losers.

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

Earnings week of Aug 3

AIG, ALL, CAR, CTRP, SUM, VMC, AXTA, DIS, ETSY, FSLR, KBR, LC, MGM, NCLH, Z, FIT, GMCR, HABT, PCLN, SEDG, TSLA, GOGO, MBLY, MNST, MYL, SUNE, UBNT, JCP, JD

Q1 Earnings Reaction

Positive Reactions – CAR, CTRP, KBR, MGM, VMC, EXPE, CCE, MOH, YRCW, WAGE, COLM, RCL, WETF, TPX, WU, AEE, FE, PKI, TUC, AMGN, VLO, UHS, WDC, AEL, ALGT, EEFT, GILD, JBLU, SHOP, SKX, X, SSNC, BWLD, PODD, SVU, NUVA, SCTY, ULTI, WYNN, CTRP, FISV, SLCA, SPWR,  NCLH, AMZN, P, MXIM, JNPR, V, SBUX, LUV, QLIK, SNDK, TXN, UA, WHR, GM, VRSN, CHKP, FFIV, FTNT, LVS, PKG, TMO, TSCO, VMW, ACE, APH, OC, BA, CHKP, IPG, CLI, CMG, LVS, MANH, TRV, VMW, LAD, HOG, WWW, ZION, HAS, HAL, GOOG, HTZ, HON, GE, NFLX, SCHW, EBAY, C, USB, DAL, BAC, WFC, JPM, NKE, AA

More than 10% - EXPE, CCE, MOH, YRCW, WAGE, COLM, SHOP, SKX, X, SSYS, BWLD, SVU, P, FTNT, SNDK, GOOG, GOOGL, HTZ, NFLX,

Negative Reactions – AIG, ALL, AXTA, NCLH, LNKD, FEYE, OCN, ESI, FB, MAR, SSYS, TWTR, YNDX, YELP, BIDU, BIIB, TRIP, STT, AAL, FSL, KLAC, MCD, UNP, SAVE, CELG, CA, CMCSA, ETFC, CAT, DOW, FCX, MMM, OSTK, IBM, KO, QCOM, AXP, AAPL, IBKR, ILMN, XLNX, VZ, BEAV, BHI, LLTC, MSFT, YHOO, EXAS, STI, UNH, MAT, KEY, YUM, FAST, CUDA, MU

More than -10% - ALL, LNKD, OCN, ESI, WFM, TWTR, YELP, BIDU, BIIB, TRIP, GIMO, SCSS, BEAV, SWI, CUDA, MU

Reversal in progress – LAD,

Reversal of Initial Reaction – HTZ, HON, GE, AA,

Short-term Chart Targets:

SPY = 211.45, 212.55...

QQQ = 113.17, 114.39…

IWM = 123.71, 125.09…

Support Levels

SPY = 210.82, 206.80...

QQQ = 110.62, 109.78…

IWM = 121.01, 120.27...

The SPX Market Forecast is turned up at 70.

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Setups

Horizontal Breakout: IWM, C, DAL, JNPR, MFRM, P, SHOP, SVXY, W, CREE, JASO, LC, LOCO, YY, AAL, ADSK, EBAY,

Diagonal Breakout: BAC, ETFC, JD, MS, QIHU, SEDG, SINA, SPLK, SUM, YOKU, ZION, AA, GLW, GOGO, KNDI, SFUN, ZNGA, CELG,

Bull Flag: CCL, V, VSLR,

Potential Bullish Divergence:  

Gap Up:  

Gap Down:  

Bear Flag:  

At Support: HABT,

C- Pattern: 

Moves

New Highs: EXPE, NKE, UA, EA, NFLX, PCLN, ROST, SBUX,

H Breakout: SCTY, ADBE, COST, TXN, XLNX,

D Breakout: QQQ, AMBA, STI, FB, INTC,

Bull Flag Bounce: NCLH, EMC, MNST,

MACD Divergence Bounce: GIMO, GME, JCP, SUNE, SWKS, TSL, UBNT, ASNA, TAN, AVGO,

Bounce: BABA, CRM, CSIQ, CYBR, FEYE, HPQ, PANW, ATI, AAPL, ESRX, SWKS,

Gap Up: FSLR, SPWR, TAN, BIDU, FB, INTC, JD, PCLN, WBA,

Gap Down: ETSY,

C- Pattern:                                                          

Bear Flag:  

Support Break: CMCSA, MAR,

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Watch List Stocks

Leading stocks > +2% on Wednesday: FSLR, CSIQ, UBNT, TSL, CYBR, FIT, SUM, SEDG, GIMO, SPWR, NCLH, YOKU, JCP, PANW, FEYE, W 

                                                       

Lagging stocks < -2.0% included: ETSY, TASR, TWTR, Z, HABT, SHAK

80 of 100 NDX stocks closed higher on Wednesday.

Leading NDX 100 stocks included: ATVI, CTSH, PCLN, EA, DISH, ADI, LBTYA, FB, XLNX, LVNTA

Lagging NDX stocks included: DISCA, VIAB, FOXA, CMCSA, CERN, GMCR, MAR, CHTR, WFM, FAST

NDX Stocks to Watch on Thursday

Moving Above 30 DMA = 8

ADP, CHKP, ESRX, QCOM, XLNX, TXN, DISH, TSCO

Moving Below 30 DMA = 2

CERN, FOXA

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Neutral