Oil Rebounds Up 4%...IWM...SPX Bounces...BAC Upgraded...Numerous Set Ups For Horizontal & Diagonal Breakouts...

Eight sectors moved higher on Thursday… XLK, XLV, XLE were the strongest sectors while XLU was the weakest sector.

Breadth strengthened as advancers led decliners 1.16 to 1 on the NYSE and 1.43 to 1 on the NASDAQ.

Thursday – strengthened, advancers led

Wednesday – weakened, decliners led

Tuesday – strengthened, advancers led

Monday – Closed for Labor Day

Friday – weakened, decliners led

SPY up 1.06 at 195.85 on 158.4 million shares

VIX down 1.86 at 24.37…

TNX up .41 at 22.22…

TLT down .82 at 120.63…on 6.7 million shares

XLF up .11 at 23.02…on 35.4 million shares

AAPL up 2.42 at 112.57 on 62.8 million shares

FB up 1.54 at 91.98 on 26.4 million shares

Technical Commentary:

QQQ +1.09%, DIA +0.54%, SPY +0.54%, IWM +0.46%.

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 Chart Targets:

SPY =...199.13…

QQQ = 105.61…

IWM = 115.70…

Support Levels

SPY = 190.73, 188.37...

QQQ = 100.49, 99.29…

IWM = 111.60, 109.42...

The SPX Market Forecast is turned up at 32.

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Setups

Horizontal Breakout: DAL, NTES, PANW, SWKS, VRSN, ANGI, JUNO, LC, MTW, SWI, YELP, AAPL, AKAM, AMZN, BRCM, ESRX, GILD, ILMN, MAR, MSFT, SWKS, WFM,

Diagonal Breakout: CTRP, ETFC, ETSY, NKE, SINA, V, JASO, TAN, CELG, GOOGL, MYL, QCOM, SBUX, TSLA,

Bull Flag:   

Potential Bullish Divergence:

Gap Up: 

Gap Down: 

Bear Flag:

At Support: HOG, X, GRMN,  

C- Pattern: 

Moves

New Highs: RCL, TPX,

H Breakout: PANW, LNKD, FB,

D Breakout:  

Bull Flag Bounce:  

MACD Divergence Bounce: AMBA,

Bounce: IWM, SPY, BAC, CRM, EXPE, GME, SCTY, SLCA, SPLK, SVXY, UA, LRCX,

Gap Up: 

Gap Down: MBLY, KKD, WYNN,

C- Pattern:                                                          

Bear Flag:  

Support Break:    

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Watch List Stocks

Leading stocks > +2% on Thursday: PANW, NTES, SEDG, SLCA, SVXY, AMBA, EXPE, SCTY

                                                       

Lagging stocks < -2.0% included: MBLY, SUNE, FIT, W, QIHU, LVS, PYPL, VXX,

74 of 100 NDX stocks closed higher on Thursday.

Leading NDX 100 stocks included: KLAC, GMCR, WFM, GILD, BIIB, BMRN, AAPL, VIP, INTU, SWKS

Lagging NDX stocks included: WYNN, SBAC, DLTR, BIDU, NXPI, JD, STX, WDC, YHOO, DISH

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 9

AMZN, BIIB, KLAC, MUL, SIRI, FB, LMCA, AAL, SWKS

Moving Below 30 DMA = 1

WDC

6-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Neutral