SNAP -21.45%, M -17.01% Drop after EPS…SPY, QQQ, IWM in Bull Flag…

SPY, QQQ, IWM forming bull flag pattern.

Three sectors were positive led by staples XLP and utilities XLU.

VIX rises +0.39 to 10.60.

Oil rises +0.48 to 45.49

XOM +0.85% leads DJIA.

TXT +3.60% after earnings leads SPX.

NVDA +4.30% after earnings leads NDX.

M -17.01% after earnings report.

SNAP -21.45% after earnings report.  A good illustration of why companies without a profitable operating history are more speculative.

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

Up:

Down: QQQ, DIA, SPY, IWM

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

Look for a potential bounce in: QQQ, SPY, WMT, MCD, UNH, EXPE, WBA, SPY, V, DIA, GOOGL, MS, FB, AMZN, HD, MSFT, XLY, MCHP, IWM, KLAC, KEY, WDC, ETFC, AVGO, SBUX, COST, RCL, NCLH,

(click image to enlarge)

One Day Pullback: ROST, NFLX, WMT, ATVI,

Bounces included: CSX,

Potential Breakouts include: AAPL, TSLA, XLNX, HAS, MU, ROST, SWKS, TXN,

Breakouts:

New Highs NVDA, EA, AMAT, JD, ADBE, BABA, YHOO, MCHP, MAR, AVGO,

GOOGL, NFLX, MCD, LRCX, QQQ, ATVI, PYPL, ADSK,

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

69 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 1

MDLZ

Moving Below 30 DMA = 2

HOLX, ORLY

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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