SPY Trading Near Unchanged After Gapping Higher...

Six of nine sectors moved higher on Thursday. XLU, XLI, and XLP were the strongest sectors.

Breadth weakened as decliners led advancers 1.17 to 1 on the NYSE and 1.54 to 1 on the NASDAQ.

Exchange      NYSE    NASDAQ

Advancers     1,389          985

Decliners       1,635       1,523

SPY moved up 8 cents on 184.6 million shares after gapping up to horizontal resistance and forming a large black candle.  The SPX closed down -0.14 at 1,314.99 below resistance at 1,335.

AAPL was up 26 cents at 571.72 on 13.6 million shares...

FB -50 cents at 26.31 on 26.2 million shares...

GRPN -1 cent, -0.09%…

C Pattern Continuation: SWKS, COST, SRCL, AVGO, FISV, INTU, CMCSA, SIAL, AAPL

C Pattern Reversal: CSTR, CMG

C Pattern Entry:

C Pattern Setup: SBUX, GOOG, SHLD, V, DHR, A, CTXS, VMW, ZAGG, TSLA, CRM, ORLY, QCOM, AKAM, MSFT

Breakout: MNST, MCP, ICE, SOHU

Breakout Setup: RVBD, LVS, INFA, FAS, VECO, C, URE, ROST, CRUS, WFM

Bounce: ALXN, BBBY, DLTR

Daily/Weekly Bull Flags:

MACD Histogram Bullish Divergence Confirmed: ALTR, CTXS, RVBD, MCP, SOHU, VMW, TPX, JDSU, MOS, INFA, F, BIDU, NFLX, QCOM, VMED, PNRA, MSFT, MRVL, MCHP, GOLD, EXPD, CHKP, AKAM, CROX, ORLY, VRSN, CRM, ZAGG, TSLA

Technical Commentary:

The SPY gapped higher after futures moved higher overnight after China lowered interest rates ¼%.   The short-term trend is Up. Many stocks gapped to horizontal resistance and pulled back.

Thursday Highlights:

SPY closes up 8 cents

The Euro moved down 21 pips, closed at 1.2559

TNX+0.03

VIX fell -0.44, below 25 at 21.72

XLF closed unchanged at 13.97

26 of 100 NDX stocks closed higher on Thursday…

Leading NDX 100stocks included RIMM, BIDU, CTRP, VMED, FLEX, LIFE, FOSL, VRSN, CHKP, PAYX

Lagging NDX stocks included GOLD, STX, NVDA, FSLR, MRVL, SIRI, ATVI, INFY, NTAP, ALTR

Leading stocks > +2% on Thursday included CIEN

Losing stocks < -2.0% included JNPR, VECO, SWKS, CROX, CSTR, BAC, UCO, UAL, ESI,HUM, CREE

Stocks to Watch on Friday

HoldingAbove 30 DMA = 9

TLT, FAZ, NTES, CRUS, SWKS, CIEN, ICE, CDE, GES

Moving Above 30 DMA = 1

SINA

Moving Below 30 DMA = 5

BAC, CMG, CSTR, UAL, VECO

StayingBelow 30 DMA

SWI, A, DECK, DHR, GRPN, NKE, TSLA, V, ZAGG, CRM, LDK, LNKD, CHL, URE, CREE, TSL, STI, WDC, DLR, ANF, ATI, DE, GLW, IBM, SLB, VMW, ESI, FAS, FCX, SMH, TIF, UCO, AKS, ANR, JNPR, X, HLF, SOHU, HUM, CROX, LVS, PCX, RCL, RVBD, CLF, MCP, SWK, TPX, ZION, INFA, TBT, F, JDSU, C, GS, COH, MOS

Eight Week Intermediate Term Market Trend:Down

Short Term Market Trend: Up