Seven of nine sectors
moved higher on Thursday…XLU, XLV and XLI were the strongest sectors and XLE
was the weakest.
Breadth weakened slightly as advancers led decliners led 1.55 to 1 on the
NYSE and 1.08 to 1 on the NASDAQ.
Thursday – weakened, advancers led
Wednesday –
strengthened, advancers led
Tuesday – strengthened,
decliners led
Monday – weakened,
decliners led
Friday – strengthened,
mixed
SPY up .68 at 211.63 on 73.7 million shares
VIX down .37 at 12.85…
TNX down .95 at 23.83…
TLT up 2.43 at 117.95…
XLF up .10 at 25.15 on 46.5 million shares
AAPL down .29 at 128.59 on 35.3
million shares
FB down .33 at 81.83
on 18.6 million shares
Technical Commentary:
QQQ +0.15%,
IWM +0.25%, DIA +0.32%, SPY +0.32%.
Advance slows on Thursday as SPY, QQQ, IWM and DIA form spinning top candles.
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 Chart Targets:
SPY = 212.67, 213.78...
QQQ = 110.81, 111.16…
IWM = 125.93, 127.13…
Support Levels
SPY = 208.62, 206.76...
QQQ = 108.63, 106.80…
IWM = 123.03, 122.52...
The SPX Market Forecast is turned up as 37.
___________________
Setups
Horizontal Breakout: IWM,
CIEN (long term), MBLY (long term), NKE, NTES, SVXY (long term), TSL, EMC, SCSS,
ADBE, AMZN, DTV, GRMN, MYL, WBA,
Diagonal Breakout: SPY,
DGLY, RCL, SWI, HOG, VRSN, EA, PCLN, STX,
Bull Flag: AMBA, CYBR, GME, GPRO, TSLA
Moves
New Highs: AIG, C, FAS,
JD, JNPR, GILD, ILMN,
H Breakout:
D Breakout: CSIQ, GLNG, SPWR, TAN
Bounce: CCL, SHAK, ANGI, ESI, KNDI, LVS,
MACD Divergence Bounce:
TLT, Z, TAN,
Gap Up: KKD
______________________
Watch List Stocks
Leading stocks > +2% on Thursday:
MBLY, DGLY, QIHU, SHAK, SFUN, Z, CSIQ, SUNE, TLT, SVXY, JASO
Lagging stocks < -2.0% included: JUNO, GPRO, JCP, UNG, VXX, YELP
58 of 100
NDX stocks closed higher on Thursday.
Leading NDX 100 stocks included: CTXS, EXPD, AMGN, STX, TSCO, BIIB, GILD, WYNN,
ILMN, NVDA
Lagging NDX stocks included: YHOO, REGN, INTU, AMAT, VIP, ISRG, AAL, TXN,
ADSK, SNDK
NDX Stocks to Watch on
Friday
Moving Above 30 DMA = 5
BIIB, CTXS, NVDA, PCAR, VRTX
Moving Below 30 DMA = 4
AAPL, AMAT, GOOG, LLTC
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market
Trend: Up
