Investors Say...I Want To Take You Higher...S&P 500 Notches A First And Fresh New Record Topping The 1850 Level...NASDAQ Closes At Best Level Since April 2000...JCP Gains 25.34%...

Eight out of nine sectors moved higher on Thursday…XLK, XLB and XLI were the strongest sectors…while XLU was the weakest sector.  

Breadth strengthened as advancers led decliners 2.08 to 1 on the NYSE and 1.83 to 1 on the NASDAQ.

Thursday – strengthened, advancers led

Wednesday – strengthened, advancers led

Tuesday – weakened, decliners led

Monday – strengthened, advancers led

Friday – weakened, advancers led

SPY up .97 at 185.82 volume 92.4 million shares, below average volume

VIX down .31 at 14.04…

TNX down .31 at 26.42…

TLT up .59 at 108.51...

XLF up .11 volume 38.7 million shares

AAPL up 10.32 at 527.67 volume 10.6 million shares

FB down .32 at 68.94…volume 41.6 million shares

Technical Commentary: 

QQQ + 0.65%, IWM + 0.55%, SPY + 0.52%, DIA + 0.44%.

Well it tried on Monday…it tried on Tuesday…it tried again on Wednesday…but

today…it finally broke through the 1850 benchmark…Yes…the S&P 500 notched a first and fresh new record to close above the 1850 level...Gaining 9.13 and closing at 1854.29.  The NASDAQ closed up 26.87 closing at the best level since almost 14 years ago…in April 2000.

Investors pushed stocks higher...of note…JCP jumped 25.34% up 1.51 on a whopping 113.9 million shares and is right on its diagonal resistance.  SHLD also jumped on 3.3 million shares and gained 6.46%, 2.61.

FSLR did an about face today after yesterday’s gap down on negative earnings…today it sprang back…gapping up and closing up 8.44%, 4.45 on 9.8 million shares.  MYL likewise saw a gap up after positive earnings reported…gapping up and closing at a new record high of 56.27 up 4.85, 9.43% on 12.8 million shares.

CTRX reacted negatively to earnings posted and gapped down breaking through resistance closing down 5.64, 10.89% today.

Trade with the trend of the chart you are trading and move your protective stops.  Be mindful of reversal patterns like double bottoms and MACD divergences.  Continue to follow your rules.

Short-term up trend Chart Targets:

SPY = 184.10, 187.99…

QQQ = 90.43, 92.25, 94.26…

IWM = 115.39, 117.37…

Support Levels

SPY = 181.85, 180.29 179.04

QQQ = 89.00, 87.74, 86.97

IWM = 113.65, 111.21

Q4 earnings season…

The majority of earnings season is done, however there are still a few companies including ADSK, CRM, MCP, MNST, ROST, YOKU, DRYS, TSL, SSYS and DDD that will report over the next few days…

Q4 Earnings Reactions

Positive Reactions – YOKU, CRM, ANF, TGT, DLTR, LOW, HD, M, SCTY, ZU, PCLN, DISH, INTU, AEE, MDRX, ALEX, DTV, TSLA, GRMN, SWY, KRFT, AMAT, CTRP, NVDA, SPWR, TRIP, REGN, CBOE, MCO, ATVI, AKAM, EXPE, GMCR, NXPI, ONNN, ORLY, SCSS, SWI, TWX, DIS, YELP, AGNC, KORS, KEYW, IDXX, XYL, YUM, NOV, SPG, TSN, ZNGA, ALXN, BRCM, BX, CMG, GOOG, JDSU, MTW, PHM, RYL, UA, VIAB, V, BA, DOW, FB, LVS, QCOM, VLO, AKS, AAL, CHKP, EA, F, ILMN, LXK, CAT, RCL, JNPR, MSFT, KMB, PG, MXIM, SBUX, NFLX, FFIV, URI, UNP, EBAY, MCD, CREE, TXN, UTX, NUAN, XLNX, BHI, DAL, RF, MS, SLB, STI, AXP, SWKS, BAC, LLTC, WEN, MON, MU, STZ, APOL

Negative Reactions – FSLR, SINA, ESRX, GRPN, YNDX, KO, A, GNC, WTW, VFC, WFM, ANGI, CSCO, DISCA, NTAP, RAX, CI, LNKD, TPX, VRSN, ADP, CTSH, HUM, MDC, P, TSO, TWTR, ADM, BWLD, CERN, CHRW, DDD, SFLY, GILD, CVX, MA, MAT, PCAR, AMZN, MMM, CELG, CL, XOM, ESI, HOG, OSTK, POT, SHW, WHR, BA, CTXS, EMC, TSCO, CRUS, GLW, DD, F, VMW, YHOO, AAPL, STX, ZION, HON, KSU, SWK, STT, ALTR, ISRG, KLAC, KEY, JCI, LMT, WDC, ABT, BAX, ATI, COH, FCX, AMD, IBM, HAL, JNJ, TRV, VZ, GE, COF, INTC, UNH, C, GS, CSX, FAST, AA, FDO, BBBY, SCHN (94)

Reversal of Initial Reaction – WDC, DISCA, XOM, CTXS, DDD, SFLY, TPX, VZ, ABT, BAX, AAPL, CL, VRSN, CSCO, ADP, CTSH, HUM, P, TSO, ADM, CERN, GILD, PCAR, MMM, CELG, HOG, POT, SHW, EMC, GLW, DD, VMW, YHOO, ZION, HON, SWK, ALTR, ISRG, KLAC, LMT, HAL, FAST, FDO, AA (44, 46%)

The Market Forecast Green Line is above 80.

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Setups

H Breakout: CSIQ, GLW, IBM, KKD, MS, SOHU, SPWR, WLT, ZION, COST,

Diagonal Breakout: BAC, GOGO, LNKD, STI, YOKU,   

Bull Flag: GME, UAL, UNG, CTSH, FB, GILD, GMCR, MU,

One Day:  

Potential Bullish Divergence: 

Gap Up: 

Gap Down:   

Bear Flag:    

At Support: C,    

C- Pattern:

Moves

New Highs: CRM, IWM, LVS, MTW, QIHU, RCL, YELP, ADBE, DTV, EBAY, GRMN, WYNN,

Gap Up: FSLR,    

Gap Down:

H Breakout: TSL, BIDU,   

Diagonal Breakout: YHOO,  

Breakout Test: 

Bounce: ANR, ATI, CIEN, DRYS, NTES, X, AAPL, CMCSA, ESRX, NTAP,

MACD Divergence Bounce: 

Bear Flag:   

Support Break:    

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67 out of 100 NDX stocks closed higher on Thursday.

Leading NDX 100 stocks included: MYL, BIDU, ADBE, GRMN, FAST, CHTR, SBAC, YHOO, WYNN

Lagging NDX stocks included: CTRX, GMCR, CERN, SPLS, DLTR, NVDA

Leading stocks > +2% on Thursday included: FSLR, TSL, SOHU, ANR, DRYS, GOGO, CRM

Lagging stocks < -2.0% included: ESI, SINA, SCSS, CREE, GME

Stocks to Watch on Friday

Holding Above 30 DMA= 77

ILMN, EQIX, FFIV, ISRG, MU, BIIB, MXIM, TSLA, NXPI, NFLX, ALTR, ALXN, REGN, GOOG, WYNN, FB, GMCR, ADBE, ORLY, DISH, EBAY, ADSK, AKAM, AVGO, BRCM, DTV, PCAR, VRTX, AMGN, ATVI, CERN, EXPE, GILD, MNST, MSFT, MYL, NVDA, PCLN, QCOM, SNDK, TRIP, XLNX, ADI, MAR, AMAT, CHKP, KLAC, TXN, CTSH, GRMN, HSIC, LINTA, LLTC, VIAB, KRFT, BIDU, MDLZ, LMCA, FOXA, FISV, LBTYA, DISCA, CTXS, FAST, INTU, VOD, WDC, WFM, BBBY, CA, DLTR, ROST, SIAL, ADP, COST, TSCO, SPLS

Moving Above 30 DMA = 4

CELG, SIRI, YHOO, SBAC

Moving Below 30 DMA = 1

CTRX

Staying Below 30 DMA

VRSK, AAPL, ESRX, CMCSA, CSCO, SBUX, SRCL, NTAP, CHTR, CHRW, AMZN, SYMC STX, EXPD, VIP, INTC, PAYX, MAT

Sixteen Week Intermediate Term Market Trend: Up

3-Day Short Term Market Trend: Neutral/Up