SPX Sideways at Short-term Support in Bull Flag...Earnings Dominate...FB Lower...After Hours: AMZN, FEYE, GPRO, HBI Lower...V, FTNT Higher...

Setups to Watch for Friday

                   (click image to enlarge)

Up Trend: XLI, XLB, XLY, XLK, XLP

Sideways: XLU, XLF. XLRE, XLV

Down Trend: XLE

Breadth strengthened as led 1,647 to 1,343 on the NYSE and decliners led 1,469 to 1,335 on the NASDAQ.

Thursday – strengthened, advancers led on the NYSE, +4 sectors

Wednesday – weakened, decliners led, +4

Tuesday – strengthened, advancers led, +5

Monday – weakened, decliners led, +1

Friday – weakened, decliners led, +2 sectors

Oil futures were up .09 to close at 53.64 on Thursday.  

SPY up .15 at 227.77 on 68.5 million shares, 4% below average volume,

VIX up .12 at 11.93

TLT down 0.05 at 119.05…on 6.9 million shares, 27% below average volume

Technical Commentary

SPY +0.07%, DIA -0.01%, QQQ -0.09%,IWM -0.25%,

Broad indexes were mixed on Thursday. 

FB turned negative after an initial positive earnings reaction.  It seems that traders love to hate FB on earnings notwithstanding the long term trend of the business and the stock.

____________________________________________________________________

SPX up 1 point at 2,280 forming bull flag on Thursday.

SPX  gainers MJN, IDXX, CTXS, M, EQT, SWN, BSX, AMP, MAA, DLPH, AA, OST, AVB, GRMN, MRK, COG, MMC, HRS RRC, PM, PH, OKE, ALL, XL, EL, BMY, AIV

QQQ closes down 11 cents at 125.32, near last week’s all-time high.

   

NDX point leaders: AMZN, CSCO, COST, BIIB, GOOGL, ITC, NVDA, CTXS, ADP and NXPI

____________________________________________________________________

Strong Stocks: Setups and Moves You Can Use

Bull Flag Setups include: SPY, DIA, XLI, XLB, XLY, XLP, XLK

YHOO, VIAB, EA, WDC, CSX, MSFT, TSLA, MAR, SWKS, JD, ADBE, TXN, FAST, ADI, NCLH, PCLN, CHKP, EBAY, TMUS, CHTR,

BA, AXP, IBM, V, CAT, JPM,

DHI, GLW, FLEX, ATI, BABA, WFC, PNC, HAL, DE, GD, RCL, CCL, VALE, STI, CFG, HBAN, MS, BAC, FAS, RF, SQ,

One Day Pullback: AAPL, FB, PCAR,

Bull Flag Bounces include: ADSK, KLAC, CSCO, WB, LNG,

At Support Setups include: IWM, CHK, C, GM, ALK, GOOGL, STLD, AKS, FTI, BHI, TRV, UTX, XLNX, MMM, ZION, KEY, MGM, GS, HES, TLT, INTC, DISCA, SCHW,

Support Bounce: X, MT, CLF,

Horizontal Breakout Setups include: FB, AMD, QQQ, SOXL, NVDA, NTES, LRCX, AMAT, NFLX, XLK, SYMC, SHOP, UNH, MCD, CMA, ROST, HIG, PG, ICE, NRG, FCAU, CC, WB, AVGO, AMZN, DD, LUV, CF,

Horizontal Breakouts include: COST,

New Highs include: AMD, MU, USB, STX, AAPL, DIS, ATVI, MXIM, CMCSA,

Break of Support: ETFC, ADP, UPS, PAYX, SBUX, FISV, NUE, APA, XOM, AAL, DAL,

___________________________________________________________________

Earnings

This week:

Monday – AMG

Tuesday – AAPL, ABC, AET, AMD, DHR, EA, HCA, LLY, MA, NDAQ, NUE, PCAR, S, UAA, X, XOM

Wednesday – FB, SYMC, CRUS, NXPI, QRVO, ADP, BAX, CAVM,

Thursday – AMZN, V, CME, CMG, HIG, EL, FEYE, FTNT, HBI, R, SIRI, VOD, SKYW,

Friday – CLX, HSY, PSX, WETF,

Earnings Reports

Positive earnings reactions

IDXX +16.27, +13.25%

BSX +1.14, +4.76%

EL +2.08, +2.60%

Negative earnings reactions

CRUS -8.96, -14.01%

RL -10.76, -12.32%

R -6.03, -7.75%

FB -2.39, -1.79%

After-hours reports

AMZN -30.86, -3.73%

FEYE -2.42, -19.04%

GPRO -1.39, -13.31%

HBI -2.24, -9.86%

V +2.40, +3.04%

FTNT +3.07, +9.25%

2016 Q4 EPS

EPS Positive Reactions

IDXX, BSX, EL, NXPI, SYMC, AMD, AAPL, AVY, ARNC, TMO, DHR, COH, NDAQ, ABC, SPG, LLY, AET, HCA, AMG, MXIM, VMW, WYNN, MSFT, KLAC, INTC, GD, ETFC, CMCSA, URI, RCL, LUV, EBAY, WDC, STX, LOGI, ROK, BA, HBAN, ISRG, NSC, ATI, GLW, RMD, DHI, DD, MB, BABA, CA, YHOO, SWKS, KSU, PG, CFG, COL, IBM, CHKP, NFLX, UNP, FAST, WFC, SNX, MSM, CUDA, GPN, MU, CAG, NKE, KMX, CCL, JBL

EPS Negative Reactions

CRUS, RL, R, FB, QRVO, PBI, D, ADP, UAA, UPS, MA, NUE, XOM, JNPR, SBUX, PYPL, GOOGL, JBLU, F, CAT, WHR, FFIV, LVS, CTXS, QCOM, MUR, FCX, STLD, CA, FCX, HES, STT, AKS, VZ, JNJ, LMT, MMM, TRV, HAL, MCD, GE, NTRS, CSX, C, CMA, MS, UNH, AYI, CMC, STZ, SCHN, RHT, BBBY, FINL, AGN, FDX, GIS, ADBE

___________________________________________________________________

Trade with the trend of the chart you are trading and continue to move your profit protection stops.  Continue to follow your rules.

Follow your rules and look for potential re-entry if you were stopped out of any profitable trades.

Remember breakouts typically test about 70% of the time.

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.

___________________________________________________________________

The SPY MFC green line is pointed down at 73 defensive. 

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

63 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 5

BIIB, COST, CTXS, NXPI, VRSK,

Moving Below 30 DMA = 5

ALXN, CELG, HOLX, MSFT, SHPG,

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Neutral