NDX, SPX, RUT, DJI Bounce as Buyers Control Thursday on Heavy Volume …

Look for a potential gap Friday morning in AMAT and ADSK following earnings after the close on Thursday.

QQQ, SPY, DIA forming bull flag pattern.

QQQ, SPY, DIA, IWM, bounce on Thursday.

Nine sectors were positive, led by technology XLK and discretionary XLY.

SPY up .95 at 236.77 on 107.0 million shares, 40% above average.

VIX falls -.93 to 14.66.

Oil rises +.69 to 49.65

TLT up .14 at 123.42…on 8.3 million shares

WMT +3.22% leads the DJIA following earnings.

KMX +6.15%, and QRVO +4.15%, led the SPX.

INCY +6.90%, SHPG +4.30% and NVDA +4.19% led the NDX.

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

Up: QQQ, SPY, DIA, IWM,

Down:

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

Breadth strengthened as advancers led 1,481 to 1,447 on the NYSE and led 1,608 to 1,156 on the NASDAQ.

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

Look for a potential bounce in: QQQ, NVDA, EA, JD, SWKS, ATVI, MCHP, AVGO, LRCX, ADBE, EXPE, PYPL, MSFT, GOOGL, AMZN, MAR, SPY, DIA, NFLX, AAPL, COST, HD, FB, TSLA, WDC, HAS, SBUX, V, KLAC, BABA, TXN, YHOO, MU, XLY, RCL,

One Day Pullback:

Bounces included: WB, WMT, LB, UNH,

Break of short-term support:

Potential Breakouts include: TLT

Breakouts: XLNX,

New Highs XLNX, MCD,

82 of 100 NDX stocks closed higher on Thursday.

58 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 11

CMCSA, CSX, EBAY, FB, KHC, INCY, SWKS, TMUS, TRIP, TSLA, VRTX,

Moving Below 30 DMA = 1

CSCO,

The intermediate and long-term trends are still up.

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down

Add Comments here