QQQ, SPY, DIA Break out of Resistance to New All-time Closing Highs…

AMZN GOOGL, ADBE, EA, HAS, V, ATVI, SQ, MAR, each make new all-time closing highs on Thursday. 

QQQ, SPY, DIA make new all-time closing high

QQQ, SPY, DIA breakout of horizontal resistance on Thursday.

Eight sectors were positive, led by discretionary XLY and utilities XLU.

SPY up 1.15 at 241.76 on 64.0 million shares, 14% below average, volume up on breakout.

VIX falls -0.03 to 9.99.

Oil drops -2.59 to 48.71

TLT up 0.04 at 123.27…on 6.4 million shares

UNH +1.40% and TRV +1.37% lead the DJIA.

BBY +21.48%, PVH +4.84%, and CSRA +4.62% following earnings led the SPX.

ULTA +4.47% following earnings, NFLX +3.36%, CSX +2.79% and AAL +2.67% led the NDX.

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

Up: QQQ, SPY, DIA, IWM

Down:

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

Breadth weakened slightly as advancers led 1,524 to 1,402 on the NYSE and led 1,479 to 1,313 on the NASDAQ.

The SPY MFC green line is pointed up at 88, bullish.

Look for a potential bounce in: WMT, AAPL, WB, JD, BABA, DDD, SHOP, TLT, NTES, CC, HUN, MOMO,

(click image to enlarge)

One Day Pullback: NVDA,

Bounces included: HD, TSLA, XLNX, XLY,

Break of short-term support:

Potential Breakouts include: FB, ANET, MU, BIDU, RACE, AVGO, RCL, WDC, AMAT, YHOO, COST, EXPE, MSFT,

Breakouts: QQQ, SPY, DIA, SBUX, SWKS, CSX, KLAC, UNH, NFLX,

New Highs SQ, AMZN, ADBE, EA, HAS, MAR, GOOGL, ATVI, V, BBRY, LRCX, MCD, MCHP, PYPL

83 of 100 NDX stocks closed higher on Thursday.

71 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 6

ADP, CA, CHTR, TSLA, ULTA, XRAY

Moving Below 30 DMA = 0

The intermediate and long-term trends are still up.

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

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