Eight of nine sectors moved higher on Thursday…XLI,
XLB and XLE were the strongest sectors while XLV was the
weakest sector for a third straight day.
Oil futures rose +3.07 to
close at 41.67.
Breadth strengthened as advancers led decliners 3.87 to 1 on the NYSE and 2.17 to 1 on the NASDAQ.
Thursday
- strengthened, advancers led
Wednesday – strengthened, advancers led
Tuesday –
weakened, decliners led
Monday – weakened, decliners led
Friday – strengthened, advancers led
SPY up 1.29
at 204.63 on 134.2 million shares, 10% above average volume
VIX down.55
at 14.44…
TNX down .35
at 19.03…
TLT up
.53 at 128.79…on 7.8 million shares, 14% below average volume
XLF up
.27 at 22.63…on 53.5 million shares, 23% below average volume
AAPL down .17
at 105.80 on 34.4 million shares, 8% below average volume
FB down 1.16
at 111.02 on 24.2 million shares, 27% below average volume
Technical Commentary:
IWM +1.53%, DIA +0.85%,
SPY +0.63%, QQQ -0.06%.
The
SPX made its highest close in 2016, is down
just 3 points since Dec 31, 2015 and on
the verge of being positive YTD for the first time this year. The VIX made its lowest close since Nov 6,
2015.
Small
cap IWM was the strongest broad market segment, while QQQ was
near unchanged on weakness in AMZN, FB
and several healthcare stocks including
ENDP, MYL, ISRG, BMRN, ESRX, ALXN and
BIIB.
NDX
point leaders MSFT, CMCSA, CSCO, INTC, ADBE, AVGO, ADP and TSLA.
NDX percentage gainers: SBAC,
NCLH, FAST VIAB, DISCK, ADBE, TSLA, MAT, AVGO, CSX, LRCX, ADI and PAYX.
The
DJIA was led by gains in GE, BA, DD, NKE, CAT, PG, KO, GS, CVX and
IBM as 23 of 30 stocks moved higher.
FDX +17.07, +11.83% on
a positive earnings reaction.
ADBE +5.39, +5.99% in
after-hours trading on a positive earnings reaction.
Trade
what you see, not…
Stocks below support should generally be traded bearishly until a reversal pattern forms.
______________________
Strong Stocks: Setups and Moves You Can Use
Bull Flag Setups include: SCHW, DG,
CAVM, TASR,
Bull Flag Bounces include: ESV, CLF, DIS, DD, CNX,
GPRO, PG, GE
Horizontal Breakout Setups include: DVN, RRC, WMB, DO, RIG, RCL,
FSLR, QRVO, GME, SWKS, ATVI, TRIP, PYPL, ROST, ETFC, DO, FTI, NFLX, XOM, CAT,
ESV, CNX, DIS,
Horizontal Breakouts include: XLB, XLF, XL, FCX, OI, WRK,
EMR, IVZ, PXD, DHI, GE
______________________
Short-term Movers:
SPX gainers: DVN, APC, OI, HAR, FDX, FCX, WRK, NWSA, RRC, WMB, SWN, WHR,
NFX, DO, COP, HES, OKE, LM, HOT, FLR, PXD, CPGX, AMG, URI, NSC, IVZ, APA, FTI,
MUR, PNR, BWA, MJN, BXP, CXO, NRG, EMR, VTR, MRO, JEC, HPE 8
SPX losers: MNK, POM, FOSL, CMG, BBY, MCK, AGN, LLY, BMY, AN, HRB, KMX,
CAH, CI 3
NDX gainers: ULTA, TSLA, NTES, NCLH, VIAB, CHTR, CTRP, SBAC, LBTYA, SWKS,
TRIP, SRCL, PCAR, ADBE, CTSH, SYM, MAR, CSX, LRCX, DISCA, NXPI, MSFT, ADI,
AVGO, AAPL, PAYX, VOD, YHOO, MXIM, FISV, ATVI, ADP, BIDU, FAST, PCLN, CMCSA 4
NDX losers: ENDP, INCY, BMRN, MYL, ALXN, ILMN, WDC, VRTX, CELG, REGN 3
YTD:
SPX Leaders: FCX, NEM, URBN, KORS, RRC, SE, COG, WYNN, KMI,
TSN (294, +19, > 10p 113)
SPX Losers: WMB, MNK, MPC, ESV, RCL, ADS, MCK, AN, BAC, CBG
NDX Leaders: MAT, FAST, PCAR, PYPL, FISV, CHTR, DISCA, ROST,
AMAT, CA (45, +2)
NDX Losers: ENDP, INCY, VRTX, ALXN,
REGN, BMRN, WDC, TRIP, ILMN, MU
DJI Leaders: VZ, CAT, WMT, MMM, XOM, CVX, IBM, KO, UNH,
MCD (17, +2)
DJI
Losers:
GS, AXP, JPM, BA, PFE, INTC, V, DIS, DD, MRK
Remember: “It’s
a market of stocks, not just a stock market.”
Trade with the trend of
the chart you are trading and
continue to move your profit protection stops. Continue to follow your rules.
The SPX MFC green line is pointed up at 96.
54 of 100
NDX stocks closed higher and one was
unchanged on Thursday.
85
NDX stocks are above their 30 DMA.
NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 0
Moving Below 30 DMA = 2
BMRN, ESRX
6-month Intermediate
Term Market Trend: Neutral
3-day Short Term Market
Trend: Up
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