Three White Soldiers March Back to Resistance...SPY, DIA Near Recent High...MU Reports After-hours...

All nine sectors moved higher on Thursday …XLP, XLU and XLI were the strongest sectors while XLY was the weakest sector for the second straight day.  Oil futures fell

-1.14 to close at 48.40.

Breadth weakened as advancers led 2,405 to 644 on the NYSE and led 1,839 to 787 on the NASDAQ.

Thursday – weakened, advancers led, +9

Wednesday – strengthened, advancers led, +9

Tuesday – strengthened, advancers led, +9

Monday – strengthened slightly, decliners led, +1

Friday – weakened, decliners led, +1

SPY up 2.81 at 209.47 on 165.0 million shares, 63% above average volume

VIX down .93 at 15.71

TLT up .51 at 138.90…on 14.6 million shares, 83% above average volume

Technical Commentary:

IWM +1.86%, SPY +1.36%, DIA +1.34%, QQQ +1.16%,

Earning’s Announcements:

Positive Reactions: PAYX,STZ, CAG

Negative Reactions: DRI, MU,

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:  

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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 flat at 41, defensive, prepare to turn bullish.

90 of 100 NDX stocks closed higher on Thursday.

47 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 10

ATVI, CA, CSCO, EA, LMCA, MAR, MDLZ, MSFT, SIRI, YHOO

Moving Below 30 DMA = 1

TSCO

6-month Intermediate Term Market Trend: Neutral

3-day Short Term Market Trend: Up