Stocks Climb...S&P 500 Sets Another Record Close...DJIA Above 17,000 Again...Many Stocks Rise & Close Above Horizontal Resistance...GME Reports Positive Earnings...GME Up 7.06% In After Hours Trading...

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

Breadth strengthened as advancers led decliners 1.52 to 1 on the NYSE and 1.23 to 1 on the NASDAQ where decliners led advancers.

Thursday – strengthened, advancers led

Wednesday – weakened, mixed

Tuesday – weakened, advancers led

Monday – strengthened, advancers led

Friday – weakened, decliners led

SPY up .58 at 199.50 on 67.7 million shares

VIX down .02 at 11.76…

TNX down .19 at 24.07…

TLT up .65 at 116.64...

XLF up .27 at 23.20 on 37.3 million shares, above average volume

AAPL up .01 at 100.58 on 33.4 million shares

FB down .24 at 74.57…on 20 million shares, below average volume

Technical Commentary:

QQQ + 0.20%, IWM + 0.22%, SPY + 0.29%, DIA + .34%.

Traders continue to follow your entry rules.

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

Short-term up trend Chart Targets:

SPY = 194.30, 195.78, 196.62, 198.05...

QQQ = 96.31, 97.52, 98.28

IWM = 112.23, 114.31...

Support Levels

SPY = 191.57, 189.51...

QQQ = 93.57, 91.73, 90.44…

IWM = 110.15, 108.86...

Earnings season is winding down while retail earnings began this week. 

This week:  GME, HPQ, JASO, YOKU, ROST,

Q2 Earnings Reactions

Positive Reactions – AMAT, CSIQ, PCLN, NTES, SINA, NVDA, MNST, ANR, FSLR, GTAT, LNKD, SFUN, SSYS, SUNE, UBNT, YOKU, AKS, AMGN, CHRW, ESRX, HCA, HES, LRCX, TSN, TWTR, WYNN, X, YNDX, CMG, BIIB, ISRG, SWI, UA, VRSN, AAPL, APD, CA, CHKP, CMCSA, CTXS, DAL, DECK, DOW, FFIV, FB, FTI, GD, LXK, LMT, NBR, NDAQ, NOK, OSTK, ORLY, PETS, RHI, STLD, SWK, TSCO, TXN, WHR, XRX, ZION, BX, C, GOOGL, GS, HON, INTC, KSU, JPM, PM, SCSS, SWKS, URI, AA, STZ, APOL, BKS, KBH, MON, MU, NKE, SCHN,

More than 10% - TWTR, CMG, BIDU, BIIB, ISRG, LNKD, OSTK, SWI, SFUN, SSYS, SUNE, UA, VRSN, X

Negative Reactions – ADSK, CREE, GOGO, JDSU, JWN, M, RAX, SCTY, YELP, CTSH, MYL, AEM, AET, AKAM,  BWLD, BZH, CL, CMI, COP, DDD, ESI, GLW, GRMN, HLF, JEC, KRFT, LNG, MTW, RYL, SLCA, UPL, UPS, VRTX, XOM, ALK, ALXN, AMZN, ANGI, ATI, BA, CAT, CELG, DHI, DNKN, EA, ETFC, FCX, GM, HOG, ILMN, JNPR, KLAC, KMB, KO, LLTC, MCD, NFLX, P, PHM, QCOM, SBUX, STI, STO, T, TPX, TRIP, TRV, UTX, V, XLNX, AMD, BAC, BHI, JCI, JNJ, LVS, MAT, SLB, SNDK, STX, USB, YHOO, FAST, FDO, CAMP, BBBY, GIS, CCL, WAG,

More than -10% - AMD, ANGI, BWLD, CAMP, DHI, HLF, MXIM, P, SNDK, XLNX,

Reversal in progress – AET, AKAM, ALXN, AMZN, ATI, EA, GIS, GRMN, ILMN, KO, KRFT, LNG, P, RYL, STX, TPX, VRTX,

Reversal of Initial Reaction – BBBY, BZH, BBBY, CELG, DNKN, ETFC, KLAC, NFLX, RAX, SLCA, UPL, YELP, YHOO, APOL, KBH, MON,

The SPY Market Forecast green line is pointed UP at 85.

____________________

Setups

Horizontal Breakout: BBY, GME, KNDI, MS, NKE, QIHU, SCHW, SPWR, YELP, CRM, ADBE, AKAM, BRCM, MSFT, NFLX, STX,

Diagonal Breakout: VJET, GMCR, WDC,   

Bull Flag: BX, CTRP, EMC, MFRM, NTES, SFUN, UBNT, X, FB, GOOG, NTAP, YHOO

Potential Bullish Divergence: 

Gap Up:

Gap Down:

Bear Flag:   

At Support:   

C- Pattern: 

Moves

New Highs:    

H Breakout: SPY, AIG, C, ETFC, FAS, GOGO, HPQ, TSL, BAC, CIEN, JNPR, CTXS, EBAY, INTC,  

D Breakout:  

Bull Flag Bounce: 

Gap Up:  

Gap Down:  

Bounce:   

MACD Divergence Bounce: ANGI,   

C- Pattern: 

Support Break:      

______________________

52 of 100 NDX stocks closed higher and two were unchanged on Thursday.

Leading NDX 100 stocks included: EBAY, INTC, DISH, GILD, EQIX, AMAT, LINTA, MAT, STX, ADBE

Lagging NDX stocks included: SPLS, VRTX, MYL, PCAR, ALXN, DLTR, BIIB, MNST, REGN, BIDU

Leading stocks > +2% on Thursday included: GOGO, HPQ, JDSU, FAS, Z, C, STI

Lagging stocks < -2.0% included: KNDI, BBRY, SINA, AAL, UAL, GME

Stocks to Watch on Friday

Holding Above 30 DMA= 77

CHRW, BIDU, INTC, WDC, SYMC, GILD, SBAC, NTAP, EBAY, COST, FB, BBBY, CERN, EXPE, REGN, AMGN, CTXS, FFIV, PCLN, ISRG, YHOO, ESRX, TSLA, FOXA, MSFT, NFLX, ADP, CTRX, DISCA, MNST, NVDA, ROST, WFM, AAPL, ATVI, CHKP, INTU, MAR, PAYX, BIIB, EQIX, ALXN, CELG, FISV, SIAL, SIRI, VRSK, AKAM, AVGO, CMCSA, DISH, HSIC, KLAC, LBTYA, LMCA, ORLY,SRCL, STX, VIP, ALTR, AMAT, BRCM, TXN, ADBE, GOOG, ILMN, LINTA, TSCO, VOD, ADI, FAST, LLTC, MU, GRMN, NXPI, QCOM, SNDK

Moving Above 30 DMA = 0

                                             

Moving Below 30 DMA = 5

AMZN, DLTR, PCAR, SBUX, SPLS

                                                                                                             

Staying Below 30 DMA

ADSK, CTSH, WYNN, CA, DTV, CHTR, CSCO, VRTX, MDLZ, EXPD, MYL, TRIP, GMCR, KRFT, VIAB, XLNX, MAT, MXIM

Sixteen Week Intermediate Term Market Trend: Up

3-Day Short Term Market Trend: Up