QQQ Breakout on EBAY, CTXS, TXN EPS...After Hours AMZN, GOOGL Gap Up...Strong Earnings Lead Stocks Higher...

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

Breadth strengthened as advancers led decliners 2.93 to 1 on the NYSE and 1.77 to 1 on the NASDAQ.

Thursday – strengthened, advancers led

Wednesday – weakened, decliners led

Tuesday – strengthened, mixed

Monday – weakened, mixed

Friday – weakened, mixed

SPY up 3.41 at 205.26 on 174.1 million shares

VIX down 2.25 at 14.45…

TNX down .05 at 20.25…

TLT up .21 at 124.26…on 6.9 million shares

XLF up .38 at 23.88…on 48.7 million shares

AAPL up 1.74 at 115.50 on 41.1 million shares

FB up 2.56 at 99.67 on 26.1 million shares

Technical Commentary:

IWM +0.88%, SPY +1.69%, DIA +1.94%, QQQ +2.04%.

EBAY, CTXS and TXN gapped higher on positive EPS reaction leading the NDX through horizontal resistance.

After-hours AMZN, GOOGL gap higher, SKX gaps lower.

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

Earnings this Week:

Monday – HAL, HAS, HA, IBM, MS, STLD, UTX, ZION

Tuesday – ATI, CMG, HOG, IBKR, ISRG, LMT, MANH, RF, TRV, VZ, VMW, YHOO

Wednesday – ABT, AXP, BHI, BA, CA, CTXS, KO, EBAY, GM, LVS, OSTK, SNDK, TXN, TSCO,

Thursday – MMM, ALK, AMZN, T, ETFC, FCX, GIMO, JNPR, LLY, NDAQ, NUE, SIRI, SKX, LUV, SWK, UA, UAL, VRSN,

Friday – AAL, RCL, STT, WHR

Short-term Chart Targets:

SPY =...204.15, 205.38…

QQQ = 108.46, 109.03…

IWM = 116.30, 118.55…

Support Levels

SPY = 201.92, 198.94...

QQQ = 105.49…

IWM = 112.66...

The SPX Market Forecast is pointed up at 97.

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Setups

Horizontal Breakout: AIG, GME, JCP, PYPL, SINA, AAPL, BIDU, LRCX, MAR, MSFT, ROST,

Diagonal Breakout: IWM, LITE, CELG, GILD,  

Bull Flag: EXPE, QIHU, W, KNDI, TWTR, YY, PCLN,

Potential Bullish Divergence:  

Gap Up: 

Gap Down: 

Bear Flag:  

At Support: AA, OCN,

C- Pattern: 

Moves

New Highs: DAL, COST, FB, SBUX,

H Breakout: QQQ, CIEN, AVGO, BRCM, EA, INTC, MNST,

D Breakout: ETFC, SWKS, GIMO, LNKD,  

Bull Flag Bounce: BAC, C, CRM, SVXY, TPX, V, VRSN, GLW, JASO, VIAV, ADBE, AKAM, AMZN, GOOGL,

MACD Divergence Bounce: PANW,   

Bounce: BABA, CCL, CYBR, ETSY, HOG, IBM, MS, PLAY, RCL, SCTY, UBNT, ATI, CREE, MTW, RAX, SPLK, SSYS, UAL, ADSK, GOOGL, ILMN, NTAP, STX,

Gap Up: MFRM, EBAY, TXN,   

Gap Down:   

C- Pattern:    

Bear Flag:  

Support Break: AMBA, UA, MYL,

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Watch List Stocks

Leading stocks > +2% on Thursday: SVXY, ETSY, SWKS, FAS, X, PANW, ETFC, PYPL, DAL, MS, RPD, CIEN, HOG, IBM, SCTY, SINA, BABA, GME, QQQ SCHW, CRM, CYBR

           

Lagging stocks < -2.0% included: VXX, UA, AMBA, W

87 of 100 NDX stocks closed higher on Thursday.

Leading NDX 100 stocks included: EBAY, CTXS, TXN, NXPI, VIP, LLTC, GILD, STX, TSCO, CTSH

Lagging NDX stocks included: MYL, ESRX, CERN, BMRN, WDC, WYNN, LBTYA, WFM, GMCR, PCLN

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 12

AKAM, ALXN, AVGO, BRCM, CA, CELG, CTXS, EBAY, FAST, GILD, SPLS, VOD

Moving Below 30 DMA = 2

ESRX, WFM

6-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Neutral