QQQ, SPY Inch Higher Near Resistance on Light Volume...

Five of nine sectors moved higher on Thursday…XLU, XLP and XLK were the strongest sectors while XLB was the weakest sector.  Oil futures fell .34 to close at 49.40.

Breadth weakened as advancers led 1,576 to 1,458 on the NYSE and decliners led 1,419 to 1,122 on the NASDAQ.

Thursday - weakened, advancers led on NYSE

Wednesday – weakened, advancers led

Tuesday – strengthened, advancers led

Monday – weakened, advancers led on NASDAQ

Friday – strengthened, advancers led

SPY up .06 at 209.34 on 55.2 million shares, 31% below average volume

VIX down .47 at 13.43

TLT up .67 at 130.04…on 5.4 million shares, 21% below average volume

Technical Commentary:

QQQ +0.29%, SPY +0.03%, DIA -0.11%, IWM -0.11%,

SPY closed at 209.34 its third highest dividend adjusted closing high ever.

QQQ led the broad indexes with gains in DLTR, COST, YHOO, MU, NFLX, TSLA, NTES, AKAM, and CTXS.

SPY, QQQ IWM and DIA all continue above their 30 DMA. 

XLK, XLB, XLV and XLF are the strongest sectors leading SPY +2.52% over the past five days.

Earning’s Announcements:

Positive Reactions:  DLTR COST, CPRT, LGF, HPQ, PDCO, DG, PVH, IGT

Negative Reactions: SIG, SDRL,  

Technical analysis based trades should be closed before earnings.

Trade what you see, not…

Stocks below support should generally be traded bearishly until a reversal pattern forms.

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Strong Stocks: Setups and Moves You Can Use

Bull Flag Setups include:  TSN, GLPI, SYY, GD, SWKS, WMB, CTXS, REGN, ZION, STI, JPM, BAC, C, ADSK, BMRN, CERN, CHKP, MSFT, NXPI, XLNX, VMW, CMG,

Bull Flag Bounces include:  PPC, NTES, WM,

Horizontal Breakout Setups include: DIA, XLI, XLF, FAS, XLB, PCAR, OKE, SCHN, FCX, CE, ZION, SWN, TSCO, ORCL, UTX, FLIR, NUE, STLD, ADP, MAT, LUK, JEC, CLR, JNJ, CNP, ATVI, EA, BSX, YELP, AMZN, FMC, WWAV, XEC, ADI, RSPP, WRK, CRZO, MS, CMCSA, MXIM, AVGO, MU, TXN, AXP

Horizontal Breakout include: ALB, TMUS, FTNT, AGN,

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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 SPY MFC green line pointed up at 57, bullish.

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

65 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 3

COST, DLTR, LMCA

Moving Below 30 DMA = 1                                                                        

SYMC

6-month Intermediate Term Market Trend: Neutral

3-day Short Term Market Trend: Up