SPX New High Close...NFLX Gaps to New High...AMZN Gaps Down in After-Hours...

The SPX formed a spinning top and made a new high close +2.91 at 1,299.54 on Thursday.

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SPX spinning top new high close resistance breakout

INDU spinning top new high close

COMPQ white candle bounce to resistance

RUT spinning top bounce continuation

Breadth weakened on Thursday as advancers led decliners 1.29 to 1 on the NYSE and 1.06 to 1 on the NASDAQ …

Exchange       NYSE          NASDAQ

Advancers      1,696             1,369

Decliners        1,309              1,290

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Index              Chg.    Close    Direction      Confirmation

VIX                 -0.49       16.15    Down             Yes – SPX

SOX              +8.34     451.28    Up                  Yes – COMPQ

Leading stocks > 1% on Thursday included CRUS, SWK, UAL, SWKS, CMG, AMD, POT, SOHU, ATW, NDAQ, WHR, URE, STI, SNDK, HUM, ICE, LCC, F, FAS, SINA, SMH, ZION, MCP, LVS, SKX, RVBD, HOLX, GLW, GS, DISH, NYX, NETL, UNP, HLF, DEC, DLR, ARUN  

Losing stocks < -1% included UCO, UNG, SLW, CLF, FCX, PCX, ESI, FAZ, X, VECO, GMCR, JEC, WLT, SLB, CAM, NTES, HSY, SWN, DHR, TIE, CREE, MCD

Positives – SPX, VIX, NDX, SOX, NFLX, PCLN, QCOM, BIDU, XLF leads sectors, sector strength, Euro, XLP lagging sector

Negatives – TNX, AMZN after hours, breadth weakened

Interest rates fell on Thursday and bond ETF TLT closed up 41 cents.  The Euro moved up 23 pips to 1.3735 at 5 pm ET. 

Six of nine sectors rose on Thursday with Financials XLF +0.88% and Consumer Discretionary XLY +0.79% leading all sectors.

Earnings

Thursday

BA beats, lowers EPS

CAT beats, raises

CTXS beats, raises

LRCX beats, lowers

NFLX beat, EPS, raises,

QCOM beats, raises

SWK beats, raises

UTX beats, confirms

SPX

Resistance: 1,300, 1,311, 1,321

Support: 1,281, 1,256, 1,241

The short term 3 day trend is up.
The six-month trend is up.
The twelve-month trend is up.

Trade with the trend of the chart you are trading.

Bullish entry signal is a bounce off support and a break above the high of the low day or a break out of horizontal resistance.

Bearish entry signal is a break of short term support or a bounce down from the 30 DMA or other resistance.

 

AAPL -0.64 – spinning top near recent resistance

AMZN +9.06 – large white candle, -17.30 after hours following earnings

NFLX +27.84 – gap up white candle horizontal breakout

QCOM +3.04 – gap up white candle breakout

GOOG +0.29 – spinning top above hammer

BIDU +1.10 – white candle new high close at recent resistance

NDX 100 stocks stronger than the NDX include NFLX, MU, QCOM, AMZN, ALTR, AMAT, YHOO, PCLN, SNDK, CHKP, BBBY, STX, XLNX, CTXS and LINTA.

Stocks weaker than the NDX: LRCX, CTRP, DELL, CELG, GILD, ERTS, JOYG, ISRG, MYL, ATVI, VRTX, TEVA, SIAL, BIIB and PAYX.

Stocks to Watch on Friday
Holding Above 30 DMA
SINA, NDAQ, SMH, FWLT, PCX, CLF, CRUS, HOLX, A, DE, FAS, GLW, JEC,  ACN, NYX, ATI, URE, POT, BA, SWN, TSL, DLR, GMCR, HANS, HUM, LDK, NTES, CAM,  SLB, TIE, SKX, MA, SPG, ESI, STI, CAT, DOW, FDX, LXK, MOS, NETL, PCP, VECO, AIV, SOHU, SWKS, X, AGU, AKS, ATW, IPI, JNPR, PNC, SWK, TBT, UAL, UNP, WHR, WLT

Moving Above 30 DMA = 5

CMG, ICE, LVS, MHS, SNDK

Moving Below 30 DMA = 4

CF, DHR, HSY, UNG

Staying Below 30 DMA
TLT, V, BAC, CHL, MCP, ZION, ARUN, CRM, RVBD, UCO, VMW, FCX, GS, DECK, AMD, HLF, CREE, GME, SLW, GES, HAS, CSTR, MCD, FAZ

Intermediate Term Market Trend: Up
Short Term Market Trend: Up