IWM New All-time Closing High...Energy Sector Leads with MPC, ANDV, VLO, EOG and CXO...

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An early rally that sent the broad markets higher, ran out of buying momentum around 11 am EDT.  Prices sold off until 2 pm followed by a late rally.   SPY, DIA and QQQ closed slightly lower on Thursday.   Each is a bounce setup for potential entry tomorrow which is monthly expiration Friday.

IWM made a new all-time closing high, following the breakout of its 3 ½ month ascending triangle on Wednesday.  Intermediate term price target is the 176 area.

The DJIA, closed down 54 points at 24,713, led by weakness in GS, CSCO, WMT, MCD and JNJ.

Five sectors were higher on Thursday, led by energy XLE +1.51% and industrial XLI +0.39%.

SPY down .23 at 272.01 on 56.5 million shares, 30% below average volume. Down on higher volume.

VIX up .01 at 13.43

Oil up .05 to 71.59

TLT down .59 at 116.21 on 7.3 million shares.

KO +1.81%, BA +0.93%, led the DJIA, 13 advancers.

MPC +5.19%, ANDV +4.34% and VLO +4.10%, led the SPX.

ESRX +3.55%, MYL +2.30%, ULTA +2.21%, and ATVI +1.89%, led the NDX.

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

Up: IWM,

Down: SPY, DIA, QQQ

Breadth weakened on Thursday, as advancers led 1,566 to 1,328 on the NYSE and led 1,726 to 1,123 on the NASDAQ.

The SPY MFC green line is in the upper zone and is at 90, bullish. 

Uptrend sectors:  XLE, XLK, XLRE,

Neutral sectors: XLF, XLY, XLV, XLI, XLB, XLU

Down trend sectors: XLP

Intermediate-term trending stocks:  Many of these stocks have had significant pull backs over the past two months and it is appropriate to wait for the uptrend to resume before entry… RACE, ADBE, IBKR, ETFC, MA, V, ISRG, WIX, NDAQ, WYNN, VRSN, TAL, COP, CRM, NTAP, RNG, AA, WUBA, FCAU, NVDA, SQ, ALGN, AKAM, SHOP,

BA, MU, MAR, CMA, CME, ANET, HRS, KORS,

DLTR, WB, EL, TPR,

44 of 100 NDX stocks closed higher on Thursday.

68 NDX stocks are above their 30 DMA. 

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 5

CSCO, HSIC, IDXX, KHC, NTES,

The 6-month intermediate and long-term trends are still up.  The three-month trend is sideways.  The ten-day trend is sideways.

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Down

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