Trading Session Choppy...But Ends Up Thanks To AAPL...AAPL Up After Earnings 8.20%...Best Day In Two Years...BIDU, ALTR, MSFT, DECK, NUE, SPWR Gap Higher After the Close...

Five of nine sectors moved higher on Thursday…XLK, XLU and XLY were the strongest sectors…XLB was the weakest sector again.   

Breadth strengthened as advancers led decliners 1.05 to 1 on the NYSE and decliners led advancers 1.37 to 1 on the NASDAQ.

Thursday – strengthened, decliners led

Wednesday – weakened, decliners led

Tuesday – strengthened, advancers led

Monday – strengthened, advancers led

Friday - Holiday

SPY up .38 at 187.83 on 87.8 million shares

VIX up .05 at 13.32…

TNX up .02 at 26.88…

TLT up .21 at 111.17...

XLF down .01 at 22.03 on 29.9 million shares, lower than average volume

AAPL up 43.02 at 567.77 on 26.9 million shares, above average volume

FB down .49 at 60.87…on 138 million share, above average volume

Technical Commentary:

QQQ + 0.96%, SPY + 0.20%, DIA + 0.03%, IWM – 0.25%.

The NDX +33.99 led the broad indexes on Thursday.  AAPL, AMZN, TXN and MSFT combined for +42.9 NDX points while QCOM, BIIB, CELG and XLNX combined for -9.2 NDX points.

AAPL +43.02, +8.2% gapped up after earnings closing near its one-year horizontal resistance.  TXN gapped up following earnings on Wednesday.  XLNX -4.76, -9.08%, QCOM and CELG gapped down after releasing earnings.  The DJIA finished unchanged for the first time in 12 years.

After the close BIDU, ALTR, MSFT, DECK, NUE, SPWR, gapped higher following earnings and AMZN, CLF, KLAC, V, P, gapped lower.  Watch these stocks for potential bullish and bearish gaps on Friday.

Based on the weight of the technical evidence we continue to look for the uptrend to continue higher, while understanding that many individual stocks will continue to experience negative earning reactions.

Charts are poised for a horizontal resistance breakout with earning reports increasing on Tuesday through Thursday.

Trade with the trend of the chart you are trading and continue to move your protective stops.  Continue to follow your rules.

Short-term up trend Chart Targets:

SPY = 187.17, 189.70…

QQQ = 86.90, 87.88…

IWM = 113.84, 115.25…

Support Levels

SPY = 183.37, 181.38

QQQ = 85.09, 84.16, 83.15, 82.03

IWM = 110.12, 108.91, 106.99

Earnings This Week:

Monday: NFLX, HAL, HAS, KMB, STI, ZION

Tuesday: AMGN, GILD, MCD, TRV, UTX, AKS, ATI, T, ACI, CREE, HOG, JNPR, LXK, RF, SPG, SWKS, VMW, XRX

Wednesday: AAPL, BIIB, CTXS, FFIV, FB, LRCX, NXPI, ORLY, QCOM, TSCO, XLNX, PG, ANGI, BA, DAL, ETFC, ZNGA, DAVE, JCI, NSC,

Thursday: ALXN, COG, DHI, DO, TKR, ALTR, AMZN, BIDU, BRCM, CELG, CLF, KLAC, MXIM, MSFT, SIRI, SRCL, WYNN, MMM, LLY, V, VZ, AET, CNX, DECK, FCX, ESI, LVS, NUE, P, BTU, POT, RCL, LUV, SWK, SPWR, NDAQ, UA, UPS, YNDX

Friday: F

Q1 Earnings Reactions

Positive Reactions – AAPL, CTXS, LRCX, COG, DHI, DO, TKR, ALXN, NXPI, AET, ANGI, ETFC, DAVE, SWKS, BA, DAL, GILD, NFLX, HOG, RF, XRX, HAL, HAS, STI, BHI, BX, C, GE, GME, IBKR, INTC, JNJ, KO, MS, SCHW, SNDK, UNP, URI, WFC, YHOO

Negative Reactions – BIIB, CELG, FFIV, QCOM, UA, XLNX, YNDX, ZNGA, PG, AMGN, CREE, JCI, JNPR, NSC, T, VMW, TRV, LXK, KMB, ZION, AKS, ATI, ACI, BAC, BBRY, FAST, GOOG, IBM, JPM, LLTC, MU, STLD, UNH

Reversal in progress – ATI, IBM, LLTC, PG, STLD, ZION

Reversal of Initial Reaction – AKS, BAC, MU

The SPY Market Forecast green line is pointed up at 71.

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Setups

H Breakout: AAL, ATI, C, ETFC, FAS, GLW, IWM, MTW, SCHW, SPY, STI, TLT, BAC, SWI, TSL, TWTR, AMZN, COST, EBAY, MNST, PCLN, WFM,

Diagonal Breakout: JDSU, ZION, BX, GOGO, LVS, P, QIHU, SPWR, WLT, DTV, MSFT, WYNN,

Bull Flag: HOS, SCSS, INTC,    

One Day:  

Potential Bullish Divergence: SINA,

Gap Up: BIDU, ALTR, MSFT, DECK, NUE, SPWR,

Gap Down: AMZN, CLF, KLAC, V, P,

Bear Flag: 

At Support: RAX, SOHU, SPLK, TBT, VRSN, YNDX, YOKU, NTAP,

C- Pattern:   

Moves

New Highs: SWKS, SNDK,       

Gap Up: CIEN, AAPL, TXN,  

Gap Down: UAL, SINA, CELG, XLNX, QCOM

H Breakout: CSIQ,      

Diagonal Breakout:   

Breakout Test:

Bull Flag Bounce:   

Bounce: ANR,    

MACD Divergence Bounce: GLD, ESRX,  

Bear Flag: 

Support Break: CTRP,    

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

Leading NDX 100 stocks included: AAPL, CTXS, TXN, AMZN, WYNN, ALXN, NXPI, WFM, BRCM, CHTR, SPLS

Lagging NDX stocks included: XLNX, BIIB, QCOM, REGN, NFLX, CELG, FFIV

Leading stocks > +2% on Thursday included: ETFC, CSIQ, ANR, CIEN, TSL, XONE

Lagging stocks < -2.0% included: UAL, CTRP, KKD, ZION, YNDX, YOKU, SPLK, SFUN,SINA, YELP, TWTR, LNKD

Stocks to Watch on Friday

Holding Above 30 DMA= 33

MAR, GRMN, KRFT, FAST, INTC, WDC, CSCO, CHRW, SPLS, NVDA, SYMC, LINTA, COST, EXPD, SIAL,MDLZ, MU, SNDK, ADI, NXPI, BIDU, CHKP,CMCSA, ORLY, FOXA, AVGO, DTV, GILD, MXIM, TXN, CHTR, MYL, ILMN

Moving Above 30 DMA = 9

AAPL, ADP, ALXN, BRCM, CTXS, EQIX, MSFT, PCAR, SRCL

Moving Below 30 DMA = 4

CELG, FFIV, QCOM, VIP

Staying Below 30 DMA

EXPE, FISV, STX, YHOO, FB, REGN, SBAC TSLA, ISRG, AMAT, KLAC, LLTC, MAT, NTAP, XLNX, BBBY, ROST, DISH, ALTR, AMGN, ATVI, CTSH, HSIC, PAYX, VIAB, DISCA, SBUX, TSCO, UINTU, AKAM, EBAY, ESRX, WFM, LMCA, TRIP, ADBE, AMZN, BIIB, DLTR, GMCR, CERN, PCLN, WYNN, LBTYA, MNST, NFLX, CA, VRSK, ADSK, VOD, VRTX, SIRI, CTRX, GOOG

Sixteen Week Intermediate Term Market Trend: Up

3-Day Short Term Market Trend: Up/Neutral