GOOGL, NFLX, COST Make New All-time Highs…SPY Still near Resistance…AAPL, AMZN, FB, TSLA Finish Lower…

• SPY forms potential hanging man on below average volume at resistance.
• QQQ, XLK form bull flag pattern after all-time closing high on Tuesday.
• Seven sectors were positive led by staples XLP and healthcare XLV.
• VIX drops -0.22 to 10.46.
• Oil falls -2.06 to 45.49
• MMM +0.95% leads DJIA.
• GPN +6.21% after earnings leads SPX.
• REGN +6.70% after earnings leads NDX.

Intermediate and long term up trend intact.  3-day short term trend neutral.

Up: SPY, QQQ,

Down: DIA, IWM

Uptrend sectors:  XLK, XLV, XLY, XLB, XLI, XLRE, XLP,

Look for a potential bounce in: XLNX, UNH, WBA, EA, HAS, DIA, MS, NVDA, AAPL, BABA, YHOO, FB, AMZN,MU, HD, MSFT, XLY, MCHP, IWM, SWKS, TXN, ROST, TSLA,

One Day Pullback:

Bounces included: KLAC,

Potential Breakouts include: KEY, WDC, ETFC, SPY, V, MAR, AVGO, SBUX,

Breakouts: WMT, MCD,

New Highs GOOGL, NFLX, COST, WMT, MCD, LRCX, EXPE, CSX, QQQ, ATVI, JD, AMAT, SPY, PYPL, RCL, ADSK, NCLH, ADBE,

Earnings this week:

Monday:  DISH, AMD

Tuesday: COH, MLM, CMI, MRK, MA, NRG, AET, CHTR, MA, AKAM, GILD, AAPL,

Wednesday: ADP, ICE, VRSK, FB, TSLA, KHC, QRVO

Thursday: AIG, CHK, RIG, MUR, PRU, ATVI, MNST, VIAB, LB, REGN, GPN, ABC,

Friday: CTSH, CI, MRO

The intermediate and long-term trends are still up.

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Neutral

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