All ten sectors moved lower on Thursday …XLE, XLY and XLK were the strongest
sectors while XLV was again the weakest sector. Oil futures rose .56 to close at 47.72.
Breadth weakened as decliners led 2,421 to 645 on the NYSE and led 2,149 to 688
on the NASDAQ.
Thursday
– weakened, decliners led, +0
Wednesday – strengthened, advancers led, +8
Tuesday –
strengthened, advancers led, +7
Monday – strengthened, advancers led, +1
Friday – weakened, decliners led, +1
SPY down 1.96
at 214.68 on 128.0 million shares, 38%
above average volume
VIX up
1.63 at 14.02
TLT up
.35 at 138.75…on 8.3 million shares, 7% above average volume
Technical Commentary:
QQQ -0.72%, SPY -0.90%, DIA
-1.03%, IWM -1.46%,
The NDX fell -36.97 lead by weakness
in MSFT, AMGN, FB, GOOG, GILD, AAPL,
BIDU, CLEG, REGN, YHOO and BIIB.
EPS Positive Reactions
RHT,
FDX, ADBE
EPS Negative Reactions
PAYX,
CCL
Consider
moving up stops on short term bullish trades that
could pull back. All according to your profit protection rules.
Remember
breakouts typically test about 70% of the time.
Technical analysis based trades should be closed before earnings. After-hours
Trade
what you see, not…
Stocks below support should generally be traded bearishly until a reversal pattern forms.
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 pointed down at
57, defensive.
55 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 = 2
AVGO, NXPI
Moving Below 30 DMA = 18
AMAT, BIIB, BMRN, CTXS,
ENDP, FOXA, HSIC, JD, KHC, MSFT, NFLX, NTAP, ORLY, PCAR, SBAC, SIRI, SWKS, YHOO
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market
Trend: Neutral
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