SPY and IWM New All-time Closing High as SPY Closes Above Horizontal Resistance...BBY, NTAP Higher, CSCO Lower on Eearnings Reactions...

Seven of ten sectors moved higher on Thursday …XLF, XLY and XLK were the strongest sectors while XLRE was the weakest sector.  Oil futures down .35 to close at 45.50.

Breadth strengthened as advancers led 1,590 to 1,438 on the NYSE and led 1,695 to 1,079 on the NASDAQ.

Thursday – strengthened, advancers led, +7

Wednesday – weakened, advancers led, +3

Tuesday – strengthened, advancers led, +8

Monday – weakened, advancers led, +6

Friday – strengthened, advancers led, +5

SPY up 1.12 at 218.99 on 69.7 million shares, 26% below average volume

VIX down .37 at 13.35

TLT down 1.81 at 121.20…on 11.2 million shares, 18% above average volume

Technical Commentary:

QQQ +0.73%, IWM +0.59%, SPY +0.51%, DIA +0.17%,

SPY and IWM new all-time highs on Thursday

SPY closes above resistance at a new high close on Thursday

SPY is a horizontal resistance breakout shifting to an uptrend

SPX up 10 points at 2,187

SPX Leaders: BBBY, NTAP, MU, WYNN, IPG, SPLS, UAL, HRB, RHI, CFG, ADS, CNC, UHS, DAL, MCO,HOLX, M, PNC, HD, DNB, AZON, DHI, OMC, BBT, MAS, PHM, LEN, INTU, ROST, DVA, BWA, UNM, CINF, CRM, STX, LRCX, ETFC, LB

VIX did confirm the SPX gain

QQQ in sideways trend bouncing up from support

NDX point gainers: MSFT, AMZN, FB, CMCSA, GOOG  and CELG

Steel stocks X, AKS and SCHN rise after a one-day pause.

Airline stocks UAL, AAL, SKYW, HA, JBLU, DAL, LUV, ALK and SAVE climb higher on Thursday.

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.

2016 Q3 EPS, Oct - Nov

EPS Positive Reactions

BBY, NTAP, TGT, AAP, JD, NVDA, KSS, M, JWN, RL, DDS, QVCA, JCI, MAR, SYY, FDC, RACE, CTSH, PCLN, MGM, LVS, UBNT, SLCA, SBUX, MCHP, FOSL, MHK, CAR, RIG, DDD, YELP, SHOP, ABC, SQ, HSIC, ZTS, DVN, NBL, ANTM, ADP, EA, VRSK, ADM, HRS, MOS, CHKP, COH, TSO, RCL, HBI, SRCL, HSY, EMN, VRSN, UBS, BIDU, CRUS, EXPE, MO, CVX, FFIV, WDC, COP, DOW, AKAM, JNPR, BA, NCR, OI, FLIR, ROL, TSS, LMT, KEY, FCX, VLO, BHI, SAVE, AKS, TMUS, MCD, PYPL, MSFT, MXIM, AXP, SNA, MAT, BK, STLD, WBA, ALK, URI, HAL, MS, USB, NFLX, HOG, UNH, GS, CE, DPZ, CMA, UAL, HAS, DAL, DRI, CSX, COST, RHT, FDX, ADBE

EPS Negative Reactions

CSCO, LOW, HD, TJX, KORS, NTES, TRIP, CVS, ENDP, NWSA, ALB, IFF, EXPD MNST, ATVI, FSLR, WYNN, CS, APA, FB, UVE, AIG, CHTR, PAYC, DATA, CAVM, BABA, X, GILD, HLF, ILMN, NFX, DO, SCTY, AMZN, MCK, ABC, CAH, GT, ABBV, LM, COG, CA, AMGN, AET, LITE, XOM, CLF, ORLY, NEM, POT, AAPL, EW, CMG, LUV, CMCSA, UA, P, WHR, PNRA, JBLU, GM, MMM, NLSN, WAT, SHW, MAS, PNR, MCO, EBAY, TRV, LRCX, TSCO, INTC, ISRG, ST, JNJ, IBM, AA, FAST, ILMN, MU, PAYX, CCL

EPS Neutral Reactions

SWKS, LBTYA, CI, QCOM, FOXA, GOOGL, PSX, SKYW, BX, CA, TWTR, UPS, TSLA, MO, NXPI, STT, GD, KO, ESRX, VRTX, PCAR, AAL, NUE, XLNX, CTXS, LLTC, BAC, C, JPM, PNC

______________________

Strong Stocks: Setups and Moves You Can Use

Bull Flag Setups include: BBBY, CSX, GILD, NCLH, NFLX, PAYX, REGN, VRTX, WFM, MLM, HAS, STI, ZION, JPM, RCL, AKS, SCHN, FTI, PWR,

Bull Flag Bounces include: PCLN, AAL, AKAM, CHKP, CHTR, TMUS, SQ, AAP, DAL, ALK, LUV, SAVE, WFC, USB, HSY,

Horizontal Breakout Setups include: STX, COST, DISCA, ESRX, EXPE, FOXA, JD, MXIM, PCAR, WDC, HAL, BHI, CHK, NBL, HES, APA, MUR, SLB, RRC, DVN,

Horizontal Breakouts include: NTAP, LRCX, MU, TXN, ULTA, CMCSA, CTSH, CTXS, DLTR, MCHP,

New Highs include: NVDA, ADP, NTAP, ADSK, CC, X, UAL, SKYW, BAC, C,  RF, GS, MS, ETFC, SCHW, CMA, CCL, ADI, FTI, PWR, STLD, SBUX, FISV, CE, MAR, NUE, NFX,

Horizontal Break of Support Setups include: CSCO, AMZN, MDLZ, GOOGL, TSLA,

Break of Support: FB, NEM, NTES, TRIP, ATVI, CERN, 

______________________

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 up at 91, bullish. 

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

64 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 5

LBTYA, LVNTA, MDLZ, ORLY, SWKS,

Moving Below 30 DMA = 1

CSCO

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up