Another New All-time High...DAL Flys...JPM Cashes In...YUM Tastes Good...BLK Black Thursday...

Seven of nine sectors moved higher on Thursday …XLF, XLB and XLI were the strongest sectors while XLU was the weakest sector.  Oil futures rose .38 to close at 45.49.

Breadth strengthened as advancers led  1,708 to 1,305 on the NYSE and led 1,381 to 1,196 on the NASDAQ.

Thursday – strengthened, advancers led, +7

Wednesday – weakened, decliners led, +5

Tuesday – strengthened, advancers led, +7

Monday – weakened, advancers led, +7

Friday – strengthened, advancers led, +9

SPY up 1.20 at 216.12 on 90.4 million shares, 13% below average volume

VIX down .22 at 12.82

TLT down 2.06 at 139.59…on 10.8 million shares, 17% above average volume

Technical Commentary:

DIA +0.74%, SPY +0.56%, QQQ +0.68%, IWM +0.10%,

Many broad index and sector ETFs made new highs on Thursday.

DIA new all-time high

SPY new all-time high

XLI new all-time high

XLY new all-time high

XLP new all-time intra-day high

XLU bull flag from recent new all-time high

XLK new 15-year high

SPX Leaders:  WMB, MET, LNC, QRVO UAL, DAL, CF, CHK, KMI, SIG, MS, DO, MON, YUM, GS, MOS, FITV, UNM, ALK, K, PRU, STI, C, STT, KSU, HPE, FSLR, RF, LM, FG

NDX Leaders: LVNTA, AAL, EBAY, LBTYA, SWKS, CSX, WBA, ADSK, BMRN, AVGO, ULTA, AAPL, SBUX, CTRP, PYPL, ENDP, NFLX

With Thursday's new high it’s time to consider moving up stops on short term bullish trades that could pull back.  Do so according to your profit protection rules.

Remember breakouts typically test about 70% of the time.

Earnings Reactions

DAL +1.42, +3.59%

YUM +2.53, +2.95%

JPM +0.96, +1.52%

BLK -2.31, -0.65%

Earning’s Announcements:

Positive Reactions: DAL, YUM, JPM

Negative Reactions: BLK

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:  ADP, AMZN, ATVI, CMCSA, DLTR, EA, FB, KHC, NTES, PAYX, AWK, BCR, CCI, CMS, CNP, DLR, EIX, KIM, NEE, NI, PNW, VTR, WEC, GPRO, IRM, EQR, TRIP, NXPI,

Bull Flag Bounces include:  BMRN, ORLY, NEM,

Horizontal Breakout Setups include: O, UNH, HCN, SWN, RIG, IRM, SE, ADSK, AKAM, CTXS, MDLZ, NCLH, NTAP, ROST, SWKS, TMUS, VIAB, CCL, RCL, FOSL, AES, OKE, CF, NFX, UDR, CBG, DVN,

Horizontal Breakout include:  FCX, URI,

New Highs include: AAL, ADI, AMAT, CA, COST, CSCO, CSX, ESRX, EXPE, FISV, INTC, INTU, LRCX, MNST, MSFT, PYPL, TMUS, TXN, VRSK, STX, ULTA, WDC, AA, CBL, CPA, BXP, X, NUE, SCHN, LMT, MAC, JNJ, AIV, GGP, DHI, CINF, SPG, ATI, EQR, EW, STLD, SYK, CVX, AMBA, GPS, NKE, CERN, MLM, DHI, KMX

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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 is in the upper zone at 97, bullish.

72 of 100 NDX stocks closed higher and four were unchanged on Thursday.

87 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 3

BIDU, DISH, LBTYA

Moving Below 30 DMA = 1

NCLH  

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up